Bail Out and Exec Bonuses

There has been much hullabaloo in the news and blogs about how much of the bail out money went to the bank executives. “The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007,” says an AP study The AP review of annual reports that the banks file with the Securities and Exchange Commission found that the average paid to each of the banks’ top executives was $2.6 million in salary, bonuses and benefits. And they’re the folk that go the institutions into this mess with their lack of administrative and management skill. It’s no wonder the SBA Office of Advocacy states that the number one reason a business fails is the lack of administrative and management expertise. What we need right now is managers and business owners who have some sane and workable Administrative Technology under their belts.