Expense Account, Mint
The last year has seen a few (well, okay, just two) financial sector chief executive officers I know question their Rs3 crore remuneration packages, even as their peer group races ahead for that “bonus at any cost” management mantra. Those racing forget, of course, the old Indian adage that the shroud has no pockets. Parallel news of greed from the US sees some frenzied sewing of pockets as we hear of taxpayers paying companies to take luxury junkets and multimillion-dollar bonuses from companies still on taxpayer-funded life support. How is it that a small group of people have been able to corner so much of the world wealth? Is it some special skill, some special attribute that allows sellers of coloured soda water or creators of products nobody can understand to earn exorbitant numbers? Not just while they work, but even when they bail out for errors that cost investors, employees and customers losses and hardship. How did the manager get so powerful?