My problem with governance is that it’s really hurting American business.
–Barry Diller, CEO and chairman, IAC.
Mr. Diller, who calls corporate governance activists “birdbrains” is no doubt feeling the hurt. Why, if it were not for the crazy idea that there should actually be accountability in the boardroom and some sanity connected with CEO pay, Mr. Diller might have been able to make, say, $300 million last year instead of the paltry $295 million he pulled down.
Frankly, I prefer another Barry Diller quote from a few years ago:
This is a world in which reasons are made up because reality is too painful.
We’ve inaugurated a new category to showcase Mr. Diller’s kind of out-of-this-world thinking. It’s called Earth to Board. Call me crazy, but I think it suits Mr. Diller rather well.