https://www.stltoday.com/business/columns/david-nicklaus/editorial-page-of-139-displaying-assets-1—25-of-3465-web-headline-64-byline-words-246-characters-1562-depth-77-start-datetime-display-priority-presentation-do-not-publish-disallow-reactions-disallow-user-commenting-source-archive-datetime-delete-datetime-source-application-flagged-as-abuse-canonical-url-url-title-subheadline/article_37e37ca4-a956-5777-82e0-3f624b57ff10.html
5 replies (most recent on top)
Probably neither, just a bad case of Old Fooldom.
Begs the question: which -ity is he suffering from? Stupidity or Senility?
Unbelievably, Mr. Neidorff has been CEO since 1996. That is 24 years, mostly in a publicly traded company that sells products funded by taxpayer $$ (Medicaid and Tricare) and supposedly is under the regulatory scrutiny of both Federal entities and the state banking/insurance departments.
It is way past time for him to move on and retire. But once again, marketing is the Whipping Boy. And no one cares.
Kind of surprised a company running Federal and State funded healthcare for low income people can get away with that kind of CEO pay. Seems like some reporting is in the future.
What is really bad is that Neidorff's compensation puts him in the top 10 to top 20 CEOs. To keep the large investors happy, he has to keep generating increasing profits. Easiest way to generate profits, though not the best long term, is to cut staff. Hey, he's 75, he's not looking at the long term, unless he plans to pull a Sumner Redstone....
GE was good at this game, and look where they wound up–in the tank and selling off businesses.
You'd think there would be extra public scrutiny as health plans are Federal and state regulated,