17415: BTW Bolloré, Bribes, Brothers, BS.

 

MediaPost reported Vincent Bolloré will finally stand trial on political corruption charges related to allegedly bribing politicians in Africa over 15 years ago.

 

Bolloré is accused of delivering discounted services via Havas to two presidential contenders in Togo and Guinea—helping them win elections—in exchange for shipping port contracts.

 

Oddly enough, the scenario could represent a rare and unique DEIBA+ initiative for the White holding company.

 

No word yet if Bolloré will appoint one of his sons to make court appearances in his place.

 

Vincent Bolloré To Stand Trial On Political Corruption Charges

 

By Steve McClellan

 

Bolloré Group controlling shareholder Vincent Bolloré will stand trial on corruption charges related to election campaigns in Togo and Guinea from 2009 to 2011, according to Reuters which cited a statement from the French financial prosecutor’s office on Thursday.

 

Bolloré was formally arrested in 2018 when authorities were looking into allegations that Bolloré provided discounted communications services via Havas to two African country presidential contenders (both won) in exchange for contracts to run shipping port concessions.

 

While Vincent Bolloré stepped down as Chairman and CEO at Bolloré Group in 2022, he is said to remain a major influence at the firm through his control of an entity called Financière de l’Odet, the largest shareholder of the group.

 

His son Cyrille succeeded him as Chairman and CEO at Bolloré Group. Entertainment firm Vivendi and ad holding company Havas, which Bolloré Group has controlling stakes in, are both headed by another son, Yannick Bolloré.

 

Reuters reported that two other persons are co-defendants in the case, including Gilles Alix, a former board member of Vivendi, and Jean-Philippe Dorent, who is currently head of Havas International Consulting, which provides reputation management and related services.

 

The trial is scheduled to start in December, according to reports.

 

Representatives from Havas and Bolloré had not responded to requests for comment by deadline.

14569: MDC Partners Has New Partners. New Problems To Follow…?

Advertising Age reported Stagwell Group is taking a $100 million stake in MDC Partners, and Mark Penn will become CEO of the White holding company. Wikipedia labels Penn as “an American former pollster, political strategist, lobbyist and author”—although he also toiled at Burson-Marsteller. A peek at the Stagwell Group team indicates Penn won’t be as intolerant of intolerance as his diversity-defending predecessor. A handful of executives from MDC Partners provided anonymous color commentary on the latest events, with one leader declaring, “[T]he problems with MDC have nothing to do with capabilities or talent. They have everything to do with bad decision-making from a board of directors that was utterly clueless and useless most of the time.” Gee, wonder which honcho from the White advertising agencies who sought to bail out of MDC Partners said that. Or maybe a certain Chief Creative Engineer was just mouthing off. At least the board wasn’t engaging in blatant corruption for a change.

14491: Examining Ex-Overlord Sir Martin Sorrell’s Expensive Expense Reports.

The Wall Street Journal reported WPP requested ex-Overlord Sir Martin Sorrell repay roughly $219,000 in expenses—which is definitely not peanuts—that included covering ski trips, travel for his family and items for his swanky New York apartment. Hey, the allegation that Sorrell used company funds to pay a prostitute might be true after all. Of course, it’s just chump change for someone slated to collect a $26 million exit package from the White holding company—which is roughly $26 million more than the soon-to-be-laid-off 2,500 WPP employees can expect to receive.

14407: WPP Delivers Diversity Of Disciplinary Drubs And Dismissals.

Campaign reported Wunderman suspended ECD Abi Ellis, pending an official investigation for undisclosed reasons. Plus, new VMLY&R CEO Jon Sharpe bailed out while undergoing a disciplinary investigation for undisclosed reasons—although Sharpe remarked, “I have resigned from VMLY&R to pursue new opportunities. I strenuously deny the reports received and have vigorously defended myself against them.” Add the Ogilvy UK redundancy programme, and it’s safe to declare WPP presents perhaps the most diverse examples of dismissals of any single organisation. For Mark Read, CEO stands for Chief Executive Obliterator.

14125: Billionaire Bolloré Bribed Blacks…?

Adweek reported former Havas Chairman Vincent Bolloré had been detained and later charged by French authorities over allegations that he bribed African governmental officials in 2009-2010. Great. A White advertising agency finally partners with Blacks and it turns out to be an allegedly illegal scenario. Maybe Bolloré realized he couldn’t use his go-to move—that is, nepotism—and had to compensate with a rich guy’s back-up tactic. A peek at the current Havas leadership shows the crew would likely lack cultural competence and credibility in Africa. Then again, Marian Salzman—the self-proclaimed discoverer of wiggers—is on staff to offer assistance. Of course, the Bolloré Group is vehemently denying the accusations. But is it really inconceivable for a billionaire who controls a media empire and holding company—and is probably inclined to solve matters by buying things and throwing money at problems—to resort to bribing foreign officials?

French Authorities Detain Former Havas Chairman Vincent Bolloré for Alleged Corruption

Billionaire denies claims that Havas bribed African officials

By Patrick Coffee

Less than a week after announcing that his son Yannick will soon lead both his media empire Vivendi and his marketing network Havas, French billionaire Vincent Bolloré has reportedly been detained by police over allegations that he used the agency network to bribe African government officials nearly a decade ago.

According to a story first reported by France’s Le Monde this morning, Bolloré is currently in the custody of French authorities for questioning over claims that his company, Bolloré Group, actively facilitated corruption in Togo and Guinea in 2009 and 2010.

The report holds that Bolloré Group—which was, until last summer, the single largest shareholder in Havas—allegedly helped officials in these countries in exchange for contracts that directly benefited Bolloré SA, the single largest operator of shipping ports in Africa.

In a response, the Bolloré Group confirmed that it is under investigation, stating that the allegation was made by an unnamed former employee who was recently sentenced to nearly four years in prison “for misappropriation of assets.”

“Its former subsidiary, SDV Africa, did not engage in any illegal actions and the Bolloré Group reaffirms that these communication services were conducted in full transparency,” the statement continued in reference to the services in question. According to a later report by Bloomberg, Havas allegedly provided free or heavily discounted “communications advice” to politicians running for reelection nearly a decade ago.

The Group’s statement denies each of these claims.

“For more than 50 years, Havas has brought its expertise in communications to political campaigns around the world in full compliance with the law and regulation and transparency standards,” said Bolloré Group’s statement. “The hearing of its executives should provide the judicial authorities with useful clarification regarding these issues that have been assessed by an independent expert. This expertise led to the conclusion that these transactions fully complied with all laws and regulations.”

Regarding the specific claims made in this report, the statement continued, “Bolloré Group won the concession in Togo in 2001 long before it started to invest in Havas. In Guinea, Bolloré Group won the concession in 2011 following the failure of the winner of the tender (Bolloré Group came in second in the bidding process) which was recognized before the presidential election.”

“Attempting to link the attribution of a port concession with communication services translates a great misunderstanding of this economic sector and economic activity in general,” it read.

Spokespeople for Havas declined to comment on the news. Representatives for Vivendi also referred to the Bolloré Group statement, telling Adweek that this matter does not concern their business.

No charges have been filed against Bolloré at this time.

In last week’s earnings call, the elder Bolloré announced that his son would soon take over as chairman of Vivendi, which owns such brands as Universal Music, Canal and Daily Motion. Yannick officially became global CEO of Havas Creative Group in summer 2017 with the departure of Andrew Bennett, who later went to Bloomberg.

13189: JWTrouble Abroad.

Advertising Age reported JWT in Korea is undergoing a corporate overhaul after its top executive resigned as a result of a corruption probe involving bribing clients. Hey, maybe multilingual global citizen Gustavo Martinez is available to replace the Korean crook.

Amid Investigation, J. Walter Thompson Overhauls Korea Structure

Prosecutors Are Reportedly Probing a Suspected Bribery Case Connected to Former MD

By Angela Doland

JWT is getting a new structure in Korea after its top executive there was targeted by a corruption probe.

Junghwan Kim, who was managing director until February, resigned in connection with an investigation by the prosecutor’s office. Korean news reports say he was arrested amid allegations he set up slush funds to bribe clients. Several other employees, including the finance director, have been suspended pending the probe’s findings, JWT said.

J. Walter Thompson said Friday that its Asia Pacific branch will set up a new unit in partnership with Y&R Korea, another WPP agency. It will use the J. Walter Thompson name but will operate within Y&R, according to a statement from the agency’s Singapore-based regional headquarters.

The unit will be managed by Y&R’s managing director for Korea, in partnership with J. Walter Thompson’s Asia Pacific and Y&R Asia Pacific’s chief executive officers. A spokeswoman declined further comment.

The JWT Korea agency had about 80 employees. Staff handling multinational accounts would move into the new structure, while other employees would be laid off, the Kukmin Libo newspaper reported.

When news of the probe broke in March, the agency said it was cooperating fully with Korean authorities, had hired external auditors and was conducting an internal investigation as well. All WPP employees are required to take anti-bribery and anit-corruption online training, and senior executives have to sign a WPP code of business conduct every year, according to WPP’s web site.

Mr. Kim had been with the agency since 2004 and serviced accounts including tobacco and ginseng company KT&G.

12793: MDC WTF.

Advertising Age published a report titled, “Timeline of Recent MDC Events In Case You’ve Been Sleeping.” If you weren’t sleeping already, you will be after viewing the series of escapades. Then again, perhaps it’s the deliberate intent of MDC PR efforts; that is, fool the industry into believing there’s nothing of great interest brewing at the White holding company in order to avoid closer investigation that would reveal the enterprise is thoroughly corrupt. After all, the average MDC employee probably gets reprimanded for raiding the hotel mini-bar during production trips—versus having to reimburse the company over $10.5 million for non-billable expenses.

12775: Miles To Go…

Advertising Age reported MDC CEO-White Man Miles Nadal is “retiring”—amid an SEC investigation that includes targeting his shady expenses—and will be replaced by CEO-White Man Scott Kauffman. The outgoing Nadal is not eligible for any compensation payments or severance. After all, it would have been pretty obscene if he received loot to offset the $10.58 million he must repay to the company. Hell, given Nadal’s greedy money moves, MDC stands for Million Dollar Crook.

Miles Nadal Stepping Down as CEO of MDC

By Alexandra Bruell

Miles Nadal is stepping down as CEO of MDC Partners and as chairman of the Board of Directors, the agency company announced Monday evening.

Scott Kauffman, who has served as presiding director on the company’s board of directors, will succeed Mr. Nadal as chairman and CEO. Irwin Simon, a current member of the board, has been appointed as presiding director.

Mr. Nadal’s retirement comes amid an SEC investigation, beginning in October, into MDC’s accounting practices, trading information and Mr. Nadal’s expenses. In May, the company said Mr. Nadal would pay back his employer $8.6 million, and that the investigation would be ongoing.

The company Monday evening also announced additional repayment by Mr. Nadal.

“Mr. Nadal has agreed to repay to MDC Partners all expenses that were requested to be repaid by the Special Committee of the Board of Directors, including an additional $1.88 million that was recently identified,” the company said in its statement. “In connection with his retirement, Mr. Nadal is required under the Company’s Incentive/Retention agreements to repay $10.58 million in retention amounts received between 2012 and 2015. In addition, Mr. Nadal is not eligible for any compensation payments or severance.”

Additionally, Michael Sabatino, formerly chief accounting officer of MDC Partners, has resigned and agreed to repay the company $208,535 in cash bonus payments received between 2012 and 2014, the company said.

Mr. Nadal is credited with building MDC into a mid-sized holding company and an investor darling known for its investments and ownership stakes in hot shops like 72andSunny, CP&B and KBS+. He’s known for fostering a culture that offers both support and independence to his shops and their leaders.

An MDC spokeswoman said Monday night that Mr. Kauffman would build on MDC’s success so far. “Under his leadership, we remain wholly committed to the values of innovation and partnership that drive us to attract the best talent in the industry, creating gains for our clients, and ultimately, performance for our shareholders,” she said in an email.

Stock in MDC hit a 52-week low Monday, but it may not be all bad.

In a note to investors, Evercore’s Tracy Young wrote: “We view this evening’s announcement of Miles Nadal’s retirement as largely positive and see his replacement, Scott Kauffman, who has served on MDCA’s Board for the past nine years, as providing a seamless transition near term as the company continues its growth momentum. We view today’s 6% stock decline to a 52 week low as unwarranted and expect some relief in the stock tomorrow although we would note that the SEC investigation remains ongoing, and are keeping our Hold rating.

12722: Kicking Back With The 4As.

Advertising Age published a piece from 4As President-CEO Nancy Hill, announcing the trade group has assembled a task force to investigate media kickbacks. While claiming the organization is “alarmed” over the allegations, Hill also saw the need to stress that kickbacks “are not inherently conflicting or illegal, but they are not an accepted business practice in the U.S.” It’s interesting that Hill—when expressing the imperative for diversity in the advertising industry—never felt obligated to point out it’s not inherently illegal for White people to hire other White people, perpetuating the exclusivity that has tainted the field for decades. Hill also gasped, “While our association has no regulatory or enforcement authority, we take any contentions that hurt our industry extremely seriously. Trust and transparency serve as the foundation of successful agency-client relationships, and are key to the highest standards of client service.” Heaven forbid anything might damage the integrity and credibility of an industry that has openly executed discriminatory hiring practices for longer than the 4As has been in existence. Whatever. Don’t count on the kickbacks task force having any more success than the numerous committees and armies recruited to create diversity.

Why the 4A’s Has Formed Task Force On Media Rebates

Organization ‘Alarmed’ That Issue Threatens Agency/Client Trust

By Nancy Hill

The American Association of Advertising Agencies, whose members produce roughly 80% of advertising volume nationwide, naturally becomes alarmed when a matter threatens the very trust that defines the bedrock of the agency-client relationship. That issue is media rebates and, more specifically, what detractors derogatorily term “kickbacks” on Madison Avenue.

A former agency executive triggered the clamor this spring, claiming that rebates are widespread in advertising. A subsequent survey by Ebiquity and a sibling marketing analytics firm contributed. In it, 62% of advertising procurement officers polled said they consider rebates a “hot topic” within their company, and 63% said they are “moderately” or “extremely pressured” annually to lower agency compensation.

While rumors and innuendo have exaggerated the matter, the hubbub it sparked offers the opportunity to explore the issue of how advertising is bought and sold and related performance metrics.

It provides the chance to define the essential meaning of transparency and trust. Further, the polemic opens up an avenue for exploring and establishing fresh guidelines for serving clients in today’s increasingly complex media ecosystem.

Lightning rod for transparency

Briefly, let’s clear up the matter of media rebates or volume discounts: They are not inherently conflicting or illegal, but they are not an accepted business practice in the U.S. And while we are a U.S.-focused association, we hope and expect every agency adheres to the contractual obligations of their respective regulatory environment.

Still, media rebates have become the lightning rod for the broader issue of transparency.

Financial partnerships between media sellers and agencies are confidential arrangements, and media clients need to understand when their agency may hold stakes in a diverse portfolio representing a range of interests that can impact these arrangements.

This becomes concerning, of course, when those interests are at odds with a client’s business or, worse, go undisclosed by their agency partners. These partnerships are just that: mutually beneficial relationships where terms are disclosed on a confidential basis, and fully understood by all parties. This principle has served as the foundation of our association since its founding nearly a century ago.

Industry best practices

Our 750 members work daily to uphold these values. Still, the air of distrust and questions raised about the arrangements between agencies and media companies is why we have begun proactively examining and establishing industry-best practices to reflect the evolving media marketplace we inhabit. Together with the Association of National Advertisers, a multidisciplinary task force is conducting an in-depth consideration of these issues. Our industry reflects many perspectives, and the task force will work to better communicate those views between agency and client. We expect to issue new best practices and guidelines resulting from this work within the next few weeks.

While our association has no regulatory or enforcement authority, we take any contentions that hurt our industry extremely seriously. Trust and transparency serve as the foundation of successful agency-client relationships, and are key to the highest standards of client service.

Nancy Hill is president-CEO of the American Association of Advertising Agencies

12705: ANA Seeking Kickbacks.

Adweek reported the ANA will conduct a “fact-finding probe” into the allegations involving media-buying kickbacks. Let’s hope the investigation gets more results than the ANA’s half-assed exposés on the inequities of multicultural marketing and the industry’s dearth of diversity.

ANA to Launch Fact-Finding Probe Into Media-Buying Kickback Claims

Group’s goal is to ‘clean this mess up’

By Andrew McMains

Are media agencies pooling media purchases to get rebates on the time and space they’re buying and not passing those savings on to their clients? With another investigation set to start, that question won’t go away anytime soon.

The Association of National Advertisers is about to launch a search for a consultant to examine claims that media agencies are getting “kickbacks” from media sellers in the United States by buying media for multiple clients at the same time.

The practice is not unusual in overseas markets but not the norm in the U.S. and now marketers—egged on by former media agency leaders like Jon Mandel—want to get to the bottom of it.

The new investigation comes in the wake of the ANA and 4A’s starting a joint task force to study how agency-marketer contracts are set and develop a code of conduct.

“The issue that we have is we don’t know where truth lies,” Bob Liodice, president and CEO of the ANA, told Adweek.

The goal is to get an objective look at the situation, Liodice explained. “Let’s hire a third party to take an unbiased look at the way the industry is operating,” he said, “to be able to synthesize all the various perspectives that are in the marketplace and to do whatever research” is necessary “to provide a clean understanding of what is taking place, so that we can effectuate the right discipline and the right behaviors that will start to clean this mess up.”

The ANA’s board of directors initiated the search after hearing from Mandel and others that media agencies are benefiting from volume discounts in the U.S. and may be hiding that benefit through overseas units. Mandel raised this issue at an ANA conference in March, and it has simmered in the minds of marketers ever since.

“There’s a level of disbelief,” Liodice said. “We had several knowing people present to the board” who “validated what Jon Mandel has been talking about.”

Liodice declined to further describe the “knowing people,” who he said insisted on confidentiality before addressing the board.

When asked about the reactions of board members, Liodice said that some are “bewildered, some are confused, some are angry, some are disbelieving.”

Broadly, marketers sense that there’s a problem here, but its extent is unknown. Figuring that out is the core assignment the ANA will distribute among consultants.

The association is still drafting a request for proposals, but it could be ready as soon as next week. Based on submissions and possibly a round of presentations, the ANA will hire a consultant, but that’s at least a month away. For now, however, board members are satisfied that the process is underway.

“Recognizing that there is a substantial amount of information that is in the marketplace, you have to come to the realization that you can’t bury your head in the sand and hope that it goes away,” Liodice said.

“We are not out to throw anybody under the bus,” he said. “That is not the intent. But it is to get a clear articulation of facts, to say, ‘C’mon, how can anybody dispute these facts?’”

12645: MDC SEC WTF.

Adweek revealed the share price of MDC Partners dramatically dropped due to breaking news of an SEC probe into CEO Miles Nadal’s expenses, including $8.6 million in reimbursed medical charges, travel and commuting costs and other expenditures over a six-year period. Um, that’s roughly $8.6 million more than the average MDC employee records on expense reports in a sixty-year period. It sure underscores how the advertising industry has devolved when SEC investigators make appearances. Why, it used to be only organizations like New York City’s Commission on Human Rights targeted the industry.

MDC Partners’ Stock Plummets After News of SEC Probe Into CEO’s Expenses

Agency holding company dropped bombshell on investor call

By Noreen O’Leary

The share price of MDC Partners, the holding company that includes Crispin Porter + Bogusky and 72andSunny, has plummeted this morning on news of an SEC investigation into the CEO’s expenses.

MDC dropped a bombshell yesterday in its after-market first-quarter earnings call, when the CFO noted that on Oct. 5, 2014, it received a subpoena from the Securities and Exchange Commission requesting documents “relating to CEO expenses, the company’s goodwill and certain other accounting practices, as well as trading in the company’s securities by third parties”.

Raising eyebrows is why MDC has been sitting on such a big piece of investor information for the past six months and chose to only disclose it now.

As a result, Bahamas-based MDC chief Miles Nadal “voluntarily” agreed to pay back the company $8.6 million for reimbursed medical expenses, travel and commuting costs, charitable and other unspecified expenses which “lacked appropriate substantiation over the six year period from 2009 to 2014,” CFO David Doft told investors on the call, according to a transcript from Seeking Alpha.

MDC said it has been fully cooperating with the SEC, as has Nadal, and the company believes “the inquiries are at an early stage,” according to Doft.

One apparent executive casualty so far: Last week, company chief accounting officer Michael Sabatino was moved into a new role at MDC where he will work on “special projects” while Doft assumes the additional role as principal accounting officer.

This morning, MDC’s stock, with shares trading in heavy volume, has dived by more than a third to around $19, after closing at $28 yesterday.

In MDC’s newly-released proxy for its upcoming annual shareholders’ meeting on June 4th, the company reported that Nadal earned total compensation of nearly $17 million in 2014, down from almost $21 million in 2013. Last year’s whopping payout for Nadal was the highest among holding company CEOs, including those at MDC’s huge competitors like WPP, Omnicom and Interpublic.

Following the SEC subpoena, MDC created a special committee of independent directors looking into the review of perks and payments to CEO Nadal and Nadal Management Limited. Because of that, the company incurred legal and other costs of $5.8 million in the first quarter, on top of the $1.2 million expense included in its fourth-quarter results. MDC added that it expects to recognize a one-time gain of $8.6 million in the second quarter, relating to the reimbursement of those amounts which were previously expensed through the company’s profit and loss statement.

In addition to the reimbursement put forward by the special committee, the company is implementing “remedial steps” to improve internal controls. Among them: Adoption of a new private aircraft usage policy coupled with a new travel and entertainment policy and the hiring of two new senior execs, including an svp of internal controls and compliance and a director of compliance and risk management who will be responsible for managing internal controls, reviewing monthly expense reports and ensuring compliance with the new policies. (Both those execs will not report to Nadal, but to MDC’s audit committee.)

On the investor call, when JPMorgan’s Avi Steiner asked why MDC has waited so long to go public with the explosive news, Doft deflected: “Since October, the company has been actively cooperating with the production of documents for review by the SEC, formed a Special Committee of Independent Directors to review certain matters. That review was just concluded in time with this earnings report and given the findings, we felt that it was appropriate to disclose at this time.”

In the first quarter, MDC reported revenue rose 10 percent to $302 million, with organic revenue increasing 7 percent.

Essay 4726

This essay was inspired by recent items including:

• An Adweek piece by Paul Capelli that wondered if we should start a support fund for out-of-work adpeople.

• Tom Messner’s son asking why copywriters don’t receive residuals for taglines ala members of the WGA or The Screen Actors Guild.

• Rumors about the scheming behind Steve Beigel’s termination at Dentsu.

• The announcement that GSD&M is primed to fire roughly 200 employees.

• Continued instances of discrimination on Madison Avenue, with rising accusations of ageism.

• A cryptic post at wheresmyjetpack.blogspot.com dated November 15, 2007.

This all leads one to question: Will the advertising industry establish an employee union?

It seems inevitable, especially since Baby Boomers—who are wont to initiate legal actions and organize protests—will increasingly become “victims” in the current system.

As the mergers and holding company maneuvers carry on, the ground troops have less and less control over their ability to collect a paycheck. Let’s also consider the fickle nature of clients, where CMO roles average 18 months.

The standard agency drone can expect to lose his/her job for no reason, and with no warning.

The creative department has always been fueled by subjectivity, which means if the new ECD, CD or ACD decides you’re no good, you’re gone. Ditto when a client wants fresh blood.

Agencies have instructed managers to avoid giving stellar reviews in order to make layoffs easier. Heaven forbid a newly-inserted boss should suddenly deem a formerly great employee to be lousy.

It’s common to get axed on Friday, and see your replacement arrive on Monday. Discovering the search for a successor happened while you were clocking 70-hour weeks is quite a treat.

And shame on the shit holes that command managers to clean house, then ultimately eliminate the manager.

Some might argue the industry runs a “free agent” operation. But every professional sports league has a union for its free agents.

Others declare we enjoy a profession offering extraordinary salaries. These old school hacks are likely exploiting the original order, given that the rest of us know pay levels are dropping—and the younger generations will never see the wages of predecessors.

Shrinking incomes are coupled with dwindling severance packages. Severance, of course, is at the discretion of the employer. It’s a gift. And agencies are becoming really cheap gift-givers. If they could award you a McDonald’s gift card in lieu of cash, they would.

Negotiating a better severance package is often futile. Unless you’re in a protected class with air-tight evidence of wrongful termination, you have little recourse. Few have the opportunity to accuse an employer of forcing you to solicit prostitutes in Prague. Even fewer would pursue such a political and risky bargaining tactic.

Generating maximum results with minimum resources is the norm. Agencies stuff cubicles with the most inexpensive bodies possible, yet criticize the quality of the product. It’s no coincidence that Publicis’ latest integrated venture is titled Insight Factory—the laborers are slaving in a virtual sweatshop.

Unfortunately, Madison Avenue has historically been averse to progressive evolution, particularly when the sacred bottom line is affected. But how much longer will workers tolerate the outdated attitudes and practices? The corruption-filled chasm between the powers-that-be and the powerless expands daily.

It’s tough to witness top executives with golden parachutes while you’re getting a golden shower.