Originally Posted by
mrmak2
The problem is Mr Horton and company failed. Bankruptcy is the failure of a business. If this was Japan, upper management would commit ritual suicide from the dishonor. Instead they are commended for not raping and pillaging more than they aleady are. The main point of this article is that management is rewarded for failure. There is ZERO accountability. I'd be very thorough on my next preflight (as always) after hearing all of this.
Yep, executive compensation should be ZERO (or no more than the lowest full time worker) if a company goes into bankruptcy. When it comes out, it can resume whatever is appropriate for the company at that level. If this is a problem and people fear that it would not attract proper management, that should be a red-flag that the business is not sustainable on a basic level. In that case, it should not proceed through chapter 11. If it's a matter of restructuring and getting it back on it's feet, then the reward is being able to act as an exec after it's restructured. Otherwise, we are rewarding failure.