Bogle focuses a lot of the blame on boards that serve as rubber stamps for management approving grossly excessive options plans, audits in which the auditors aren't independent appraisers but partners of management, and mergers based on forcing the numbers rather than on improving the business.
With $2.66 trillion under management at stock funds registered in the United States, fund managers could be a powerful force in protecting shareholders from pernicious managerial practices -- like excessive stock options grants and cozy boards.
If the duodenum is only involved, resection of the main pancreas is an excessive and unnecessary option because of significant portion of the normally functioning pancreas is removed, draining procedures and head resections are inapplicable because of narrow pancreatic duct and almost unchanged parenchyma.
In the worst cases, like Enron and WorldCom, the excessive use of options seemed to provide an incentive for executives to manipulate quarterly earnings, and then cash out their options at a favorable price, with little regard for the long-term welfare of the company.
In recent years, before the financial system imploded, we have had scandals involving the excessive granting of stock options, backdating options, misuse of executive perks, golden parachutes, over-generous pensions and so on.
No patient chose the option 'very excessive' or 'much worse than expected' for any item of this subscale.
Considering the questionable survival benefit and high incidence of postoperative complications, surgical resection for a large cerebellar lesion could seem to be excessive as a treatment option.
The excessive use of stock options — at Dell and other companies — had other unfortunate effects.
When shareholders and regulators complained about the excessive use of stock options, Microsoft temporarily stopped issuing them in 2003.
"It is clear that excessive use of stock options can exacerbate a short-term focus and can encourage short-sighted behavior".
