Empirical evidence for the Peter Principle (or, why bosses are so incompetent)

Dr. Laurence J. Peter's 1969 "Peter Principle" holds that companies promote high-performing employees to more and more exalted managerial jobs until those employees reach a role that they're incompetent to perform, and thereafter, the employees' negative performance reviews mean that they stop getting promoted, so that, on average, managers are all stuck in jobs they're not very good at. Read the rest

Former Equifax CEO Richard Smith collects $90M for his last year of outstanding work

Equifax CEO Richard Smith announced his voluntary retirement yesterday, two months after the catastrophic breach that permanently leaked 140,000,000 Americans' most compromising financial data. Read the rest

Equifax CEO Richard Smith is finally resigning

The board of directors thanked Richard Smith "for his 12 years of leadership" as Smith showed himself the door while he reminded the 140,000,000 Americans whose lives he'd destroyed through insanely lax security and months of shambolic inaction that "I have been completely dedicated to making this right." Read the rest