Watch the Edgy Ones

The pantheon of edgy CEO’s includes TYCO’s Dennis Koslowski whose sales tax dodge on artwork he purchased mirrored a fast and loose corporate stewardship that resulted in jail time. New research suggests Koslowski was not unique, those prone to pushing the boundaries – legal and otherwise – seem as likely to do it in the corporate suite as behind the wheel of a speeding car. Keep an eye on those edgy acheivers, even if (maybe especially if), their foot seems never to come off the accelerator in pursuit of outsized results.

Ably Disabled? Thanks, Doc!

Retiring as a public employee?  You’ll usually get a better deal, and earlier, if disability is the reason.  The Long Island Railroad (LIRR) in metropolitan New York has had extraordinarily high disability retirement rates–in some years over 90%–among employees who worked in an alternative universe where relatively low-intensity jobs occupationally incapacitated just about everybody. Not surprisingly, retirement-enabling diagnoses were easy to get from doctors like Peter Ajemian, whose fraudulent work-ups just earned him forced retirement to federal prison.

Uncontrolled Comptroller: 53M/20 Years

One year for each 2.5 million the esteemed Dixon, IL comptroller stole from the city. Wonder if anyone who doesn’t get sentencing guidelines now thinks stealing 200K is only worth a month in jail.  Seriously, the real moral is that no one handling finances should ever be spared serious, regular audits and heathy oversight skepticism.    http://www.suntimes.com/news/18227927-418/ex-dixon-comptroller-gets-19-12-years-in-prison-in-53-million-theft.html

Cashing Out on the Turnpike

As this story notes, cashing in accumulated vacation and sick leave at retirement is common in public agencies.  So, given the inertial nature of organizations, and the employees’ sense of entitlement to such benefits where they exist, agencies that end “cash-out” policies will likely experience plague-level sick leaves that put the CDC on high alert. Ohio Turnpike’s director thinks pay policies are too generous at toll road | cleveland.com.

Fish or fowl? ‘In-between’ organizations

Living large at a quasi-public/quasi-private insurer of workers comp in Missouri. Such corporate style high-life draws outrage no matter how slim the government connection, witness Fannie Mae and Freddie Mac executive compensation.  However, these executive salaries, perks, sports boxes and conferences at posh resorts are routine at private firms that issue insurance and finance mortages. STLToday.com: Missouri audit blasts state-sponsored insurer.