I was amazed to read in Sunday’s Review-Journal that the CEO of a company — the Las Vegas Monorail — that is deeply in debt and continues to bleed money makes $450,000 a year. The other execs and board members also make megabucks. Nice work if you can get it.
How are they allowed to get away with this? This “nonprofit” organization sure is profitable for those folks. Oh, yes. The monorail even filed for bankruptcy protection, leaving the bondholders screwed. Is there no oversight for this? I remain confused.