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Clark Howard's Tips

January 25, 2007

This is not the best time to be a corporate executive who is squandering people's money.

The CEO of Citigroup's Wealth Management Office was recently let go. Todd Thomson is the most recent exec to be fired for misusing stockholder's money. He flew the corporate jet all over, used Citi money for lots of personal ventures and spent thousands to decorate his office. The company stockholders weren't having it.

Maybe we're about to see a new era in corporate America, where people are actually held responsible for their actions.

These big wigs are riding high on the hog they're spending your money. It's a publicly owned company, so the money is yours.

The problem is that the CEO handpicks personal cronies who sit on the board, so those people don't take issue with the spending. It's not fair.

CEOs should put the worth of the stockholders first and should treat workers with respect. When that happens, employees are happy and companies make money.

Consumer advice courtesy of