Speaking of CEOs That Should Lose Their Jobs, how about Bill Gross of Idealab. Once considered the wunderkind of the “New Economy,” (we featured Gross in a 1996 article) Gross is running out of ideas and money, and running into more and more lawsuits from disgusted investors.
The plaintiffs allege Gross has used Idealab as a personal piggybank (sound familiar?) and has used the company jet to take vacations with Idealab President Marcia Goodstein, his wife.
Despite the fact that Idealab lost $232 million last year, Gross’ compensation jumped 91 percent to $766,667.