Thee cheated, they lied....In this economy, there aren't too many second chances. But, according to Yahoo if you're a corporate titan, fortune may smile on you more than once, even if you damage your firm or even imperil its existence.
The last several years have been tumultuous in corporate America, as a financial crisis rippled through the economy and other disasters brought shame upon once-admired firms. The recession that coincided with the financial crisis has cost the U.S. economy about seven million jobs and left the whole nation slogging through a weak, unconvincing recovery. Yet a number of disgraced CEOs and other grounded high-flyers have fared surprisingly well, either landing plum jobs with new employers or securing golden parachutes that guarantee a luxurious retirement--or both. That's not always the case. In his 2004 book Why Smart Executives Fail, Dartmouth professor Sydney Finkelstein found that of 51 "failed" CEOs, only two ever got hired again by an existing firm. The rest started their own firms, became consultants, or slunk into retirement. Today, by contrast, companies seem more willing to hire executives with black marks on their resumes.
Of the 11 corporate "up-failers" on our list, none has been accused of crimes or illegalities, and virtually all of them attribute their controversial performance as business leaders to factors beyond their control. Yet critics blame them for problems that deeply damaged the firms they once ran or helped run. Here are some of the former CEOs and other corporate honchos who seem to have stumbled upward after being involved in some of the most notorious corporate episodes of the last decade...
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Read more at http://finance.yahoo.com/news/How-11-Corporate-Titans-usnews-474283494.html?x=0
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