advertisement
advertisement

Idealab Needs Ideas

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.

Idealab’s very existence at this point hinges on its successful sale of Overture Services to Yahoo! in July for $1.6 billion. Not to be overly negative, but we’ll see how long that lasts.

advertisement
advertisement