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Started By
Message
1
Posted on 6/29/17 at 11:17 pm to tigersbb
Posted on 6/29/17 at 11:23 pm to Lacour
quote:
I see no way it's illegal.
You can't be arrested for poor managerial decisions regardless of money lost.
If so, every small business that fails would have a would be entrepreneur behind bars
Thought I had seen a report a couple years ago where a CEO was prosecuted in similar circumstances but cannot locate the report. It seems like the fact he had acted egregiously poorly in some decisions leading to great losses was in violation of some federal statutes.
Just hoping for a little assistance from the esteemed board.
Posted on 6/29/17 at 11:30 pm to tigersbb
This is a clown question bro
Posted on 6/29/17 at 11:30 pm to tigersbb
quote:
Just hoping for a little assistance from the esteemed board.
Keep on hoping. Posts like these may get you a subpoena.
Posted on 6/30/17 at 7:58 am to Lacour
quote:
Lacour
quote:
DUDE, DELETE THIS!
Posted on 6/30/17 at 8:03 am to tigersbb
quote:
Thought I had seen a report a couple years ago where a CEO was prosecuted in similar circumstances but cannot locate the report. It seems like the fact he had acted egregiously poorly in some decisions leading to great losses was in violation of some federal statu
Unless fraud was committed, it sounds like the board let you down.
Posted on 6/30/17 at 9:00 am to tigersbb
As long as he wasn't stealing money, there's not much you can do. The Business Judgment Rule shields directors and executives from liability in poor business decisions unless there is bona fide proof that they just didn't do any homework at all in making the decision.
Posted on 6/30/17 at 1:49 pm to Dixie Normus
quote:
As long as he wasn't stealing money, there's not much you can do. The Business Judgment Rule shields directors and executives from liability in poor business decisions unless there is bona fide proof that they just didn't do any homework at all in making the decision.
There might be some foundation for this. There was objective data to reflect the success of the operation over a significant period and for no substantive reason given changes in process and ultimately in management were made. Those decisions resulted in a precipitous drop in profitability and returns to those involved. It would be very difficult for the CEO to substantiate any reasonable research or data that would justify his decisions.
Posted on 6/30/17 at 2:32 pm to tigersbb
When volod decides to go back to southern law school these threads will improve though.
Posted on 6/30/17 at 11:20 pm to Tigerlaff
quote:
Keep on hoping. Posts like these may get you a subpoena.
I would welcome that
Posted on 7/1/17 at 12:17 am to Mingo Was His NameO
If it was made in good faith no he can't. U can't jail someone for running a non profitable business
Posted on 7/1/17 at 12:21 am to tigersbb
Are you the fired manager?
Posted on 7/1/17 at 12:38 am to LSUFanHouston
quote:
Are you the fired manager?
Very perceptive.
Posted on 7/1/17 at 12:46 am to vengeanceofrain
quote:
If it was made in good faith no he can't. U can't jail someone for running a non profitable business
What would it take to establish bad faith. Failure to review historical trends ? Acting contrary to the conclusions of external consultants ?
Certainly in an at will state the CEO has latitude to make personnel decisions. But does failure to weigh the accomplishments and taking risks which imperiled the finances create such an egregious decision that criminal action might be justified?
Posted on 7/1/17 at 12:53 am to tigersbb
Nothing the OP shared would make a criminal case. You would need proof that the CEO was intentionally trying to negatively affect the company for personal gain.
You are looking at a bad case of mismanagement. Get a new job.
You are looking at a bad case of mismanagement. Get a new job.
Posted on 7/1/17 at 1:42 am to tigersbb
Call 911 and make a complaint. I bet the sheriff hauls the CEO to jail asap.
Posted on 7/1/17 at 1:44 am to biglego
quote:
Call 911 and make a complaint. I bet the sheriff hauls the CEO to jail asap.
U S Justice department
Posted on 7/1/17 at 7:26 am to tigersbb
quote:
fires lower level manager whose vision and leadership resulted in the enhanced results under prior administration for not " buying into his agenda."
Unless said CEO tells you to do something illegal/unethical, you are expected to buy into his agenda. If you disagree with that agenda you can try to persuade him otherwise but ultimately it's the CEO's decision to make and you're expected to follow that agenda whether you like it or not.
Apparently those "enhanced results" didn't convince the CEO. Perhaps unfortunate but definitely not criminal.
Posted on 7/1/17 at 7:35 am to tigersbb
quote:
Can a CEO be prosecuted under any criminal codes for making egregiously poor decisions which lead to 80% reduction in dividends?
Absolutely. In China, Syria, most Caribbean nations and former Eastern block countries.
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