Among other decisions the board made were barring Mr. Irani from returning to his old post of chief executive, cutting the pay for board members and adding two new directors.
Pickles published a government document outlining 50 ways in which councils could save money, including scrapping the post of chief executive, cutting translation services by printing official documents in English only, opening coffee shops in libraries, and banning the provision of mineral water at council meetings.
But, he added, "In a bear market, where people have lost a lot of money, it doesn't take many examples of malfeasance or executives' cutting corners before people say the whole system is broken".
But that hasn't resulted in the business executives cutting ties to the president, JPMorgan Chase CEO Jamie Dimon acknowledged on Tuesday.
It has taken radical action this year, kicking out its chief executive, cuttings jobs and selling peripheral businesses and still that may not be enough.
Toyota also is eliminating bonuses for salaried employees and executives and cutting pay for executives.
He then pushed hard to combine Sprint with T-Mobile, reinvigorated under a new chief executive and cutting prices agressively.
Earlier this year, Steve Levy, the county executive, proposed cutting the nursing home from the county's 2009 budget, saying it is losing $12 million annually.
Brady W. Dougan, the Credit Suisse chief executive, is cutting 5,300 jobs and has exited businesses that required more capital and were relatively risky, like risk arbitrage and some proprietary trading.
So far this year, he has issued executive orders cutting the state's vehicle fleet and state employee cellphones as well as banning the dispersal of promotional items like key chains.
He also noted that some of the court's more important pro-business cases, including ones casting doubt on the conviction of an Enron executive and cutting the punitive damages in the Exxon Valdez oil spill, were written by liberal justices.
