CA's Kumar: Where's the bonus, baby?

Summary:Now that CA's Sanjay Kumar has copped a plea, can the shareholders get their bonus $$$ back?

What's nastier than cooking your company's books? Taking over $1 billion on "performance bonuses" based on the financial barbecue you've just held.

That's what Sanjay Kumar and his gang did when they defrauded CA by inflating the company's revenues and then cashing in their bonuses based on those inflated numbers. Now that Sanjay has admitted fraud (see it here at http://news.zdnet.com/2100-3513_22-6064516.html), you gotta wonder: is he giving the bonus back? With interest, I hope. And don't even get me started on what was going on when his board approved such a bonus in the first place. And you institutional shareholders who voted those clowns in, what were you thinking too? 

Whatever happened to earing an honest day's living? Maybe a little time in stripes, and not the pinstripe variety, will help answer the question. It's about time....

Topics: Tech Industry

About

Joshua Greenbaum has over 20 years of experience in the industry as a computer programmer, systems analyst, author, and consultant. In addition to his work from various bases in Silicon Valley, he spent three years in Europe tracking the enterprise software market as an analyst and correspondent for leading industry publications. Josh is... Full Bio

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