Bad Director! No biscuit!
January 5, 2002 1:52 PM Subscribe
Bad Director! No biscuit! Apparently, the incredibly civilized British have found a way to rid themselves of stupid executives. Using the Insolvency Act, executives can be banned from starting new businesses, or from "materially taking part" of an existing business, if they can be proven to have no idea how to run one ethically. (As opposed to the American model, where this bozo can lose 50 million dollars, and then get hired as an "visionary" executive at Yahoo, where he promptly directed the layoffs of the majority of technical staff.) My question becomes, how do we implement the "stupid manager law" here in the states...and if we did, would there be anyone left to run the RIAA?
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