Ack! No! A thousand times no!

So, the Report on Business says that Paul Godfrey is looking at bidding on the CanWest newspapers. Good. Maybe responsible management can save them. But this quote kills me:

“The group also includes at least six top CanWest executives willing to run the operation if the bid is successful. “If you take the list of 10 top executives … at least six or seven of them are there,” said one source familiar with the proposal.”

Good grief. Fire the entire board and executive suite, which ran the company into bankruptcy and saw its stock price plummet from $23 a share to $.23 a share before being delisted because it was, well, bankrupt. Can’t anyone see this emporer has no clothes and shouldn’t be rewarded for the dire strait this company is in? Please, Jimmy Pattison, buy it all, then whack all the deadwood. And slash, don’t slice.

Report on Business, Feb. 10 2010

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