But rather than do that, as Peter Drucker suggested, we have bought into the shareholder value view of the world. The simple and compelling idea was that with stock-based compensation if shareholders do well, so will managers and if shareholders do badly, so will managers.
We run companies for the owners and players, not the fans. That produced perfect alignment – or so we thought.
The SEC’s opinions regarding backdating and fraud were primarily due to the various tax rules that apply when issuing “in the money” stock options vs.
the much different – and more financially beneficial – tax rules that apply when issuing “at the money” or "out of the money" stock options.
In the long run, everyone wins if you manage for the fans.
The analogy in business would be to serve the customer. Roger: We started off the rails with an innocent-sounding theory by way of a paper by It argued that we should align the interests of managers and shareholders by giving managers stock-based compensation.
Branch Chief, he oversaw attorneys and accountants in the investigation and litigation of matters in the Division of Enforcement, including complex financial and accounting fraud, misconduct by investment advisers and broker-dealers, FCPA, insider trading, securities offering fraud and market manipulation schemes.
It is a policy book more than a self-help or methodology book, so that has a somewhat smaller audience I think. investigations and grand jury investigations by the U. Department of Justice, actively litigated matters against the S. and the California Attorney General’s Office, provided clients with securities trading and compliance counseling and handled complex business litigation. I don’t know about you but when I hear about a song set by Republicans to the tune of “Puff the Magic Dragon” and retitled “Barack the Magic Negro” accompanied by other titles such as “Ivory and Ebony” and “The Star Spanglish Banner”, the very last thing I’d think of is racism.Former Huckabee campaign manager and Republican National Committee candidate for Chairman Mark “Chip” Saltsman thought it would be a good idea to get in the good graces of the racists of the GOP by passing along a two year-old CD that valiantly attempts to lampoon liberals, one written by Tennessee redneck and former house cleaner-pest exterminator Paul Shanklin.