When I fire people, of course I feel for them. But what I keep uppermost in my mind is that if I don’t release them today, I’m going today, I,m going to have to cut more of them in six months or a year anyway. Doing it piecemeal is a fraud upon everybody-the employees, management, and the shareholders. No one’s job, my own included, will be safe until I execute my response bilities, thoroughly and completely… People who get let go should be people who are not performing a necessary function, or have not been effective… I cannot keep the people who created the debacle I am expected to fix.
The best bargain is a CEO who has a competitive competitive compensation package with an opportunity for a big stock equity payoff… I believe passionately in motivation. I believe corporations should reward successful people… executive compensation should be tied to shareholder return.
Directors are responsible for seeing that a company has proper management in place. They should mo9niter management to ensure it does what it is supposed to do. If not, the directors should take corrective action.
I put a high premium on loyalty. That doesn’t mean just keeping people who agree with me. I recognize loyalty in people who speak their minds and tell me when they think I am doing something wrong.