SiliconBeat

I had to rub my eyes when someone passed along a link to this story on Tuesday:

Has the world gone made? Was this a hoax?

Just listen to this madness from the Post story:

“A coalition of blue-chip companies on Monday endorsed the idea of voluntarily overhauling executive compensation practices in an effort to restore public confidence in corporate America and to get out ahead of potentially more burdensome rules that could emerge from Washington.

Pay practices such as huge severance payments, personal use of corporate jets and incentives not tied to long-term performance should vanish unless a specific justification exists, according to a task force convened by the business organization the Conference Board.”

Now this is either a radical change of heart, or a phony attempt to head off attempts by the federal government to impose more harsh guidelines. Let’s take a closer look: Read the rest of this entry »