Will these guys ever learn?

February 3rd, 2009 at 03:15pm Annette LaCross

A few months ago I wrote a column about the rich-and-in-charge guys. These are typical Type-A executives who have led a company for decades and been well compensated for it. After a while, they forget that they actually answer to somebody  whether it’s the board of directors or company shareholders. They’ve spent their time successfully dismissing concerns or objections to their corporate governance and running things how they think things should be, instead of how they really are.

This is where too many of the former titans of Wall Street are.

Case in point: bailed-out banking giant Wells-Fargo, which is planning more than a week of corporate junkets in Las Vegas this month.

And that’s not even the best part. According to early reports, it’s a sales conference to honor — wait for it — their top mortgage lenders.

Granted, the bank’s only received a paltry $25 billion in public bailout money, and besides, a company spokesman says it’s important that employees know they’re valued.

That’s certainly true. Maybe they could focus their job satisfaction on the fact they still have jobs.

Just a thought.

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