The world of CEOs and boards has become an entitled insiders'
club--virtually free of accountability--and the abject failure of
our corporate leaders to police themselves is costing Americans
trillions and seriously undermining the strength of our economy.
Whereas boards are supposed to act as watchdogs, guarding
shareholders' interests, they have become enabling lapdogs to CEOs,
who are aided and abetted in their pursuit of outrageous pay and
unfettered power by a bevy of supporting players, including
compensation consultants who justify exorbitant pay packages and
accountants and attorneys who see no evil.
Based on extensive original reporting and interviews with
high-level insiders at a host of leading companies, John Gillespie
and David Zweig--both Harvard MBAs with thirtyplus years of Fortune
100 experience--reveal the inner workings of this dysfunctional
culture and the many methods CEOs and boards use to shut
shareholders out, entrench themselves, and fight reforms with
shareholders' own money. "Money for Nothing "is a vital expose of
how the game is played and a powerful call for change, laying out
the specific reforms that are needed to fix the glaring
dysfunctions that are imperiling the health of American business.
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