What was the price of failure in corporate America in 2006?
More than $1 billion, with shareholders left holding the bag. At America’s biggest companies, it was possible for chief executives to fumble, fudge or fail to deliver results — and yet still walk away with more money than most people earn in a lifetime.
Consider:
In late January last year, Mary L. Forte was ousted as the chief executive of the Zale Corporation after her plans to transform the discount jeweler into a more upscale chain fizzled. Lackluster holiday sales pulled down profits two years in a row. Yet Ms. Forte left with a $7.2 million golden goodbye — including $4.9 million in severance.
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