Reply to post: Should the CEO of a not for profit get paid the same as Elon Musk? They think they should!

Momentum builds behind campaign to fire Nominet CEO, board – though success still far from certain

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Should the CEO of a not for profit get paid the same as Elon Musk? They think they should!

How many not-for-profit businesses have been started on the back of public/charitable money, and gone south because the directors have just sucked the well dry?

Here in Bristol the council put millions into a not-for-profit energy business, that basically bought energy at wholesale prices and resold to businesses and the general public. It didn't have power stations to build, pipelines to install or anything of that nature, and could have been run out of a rent-a-desk facility, with little in the way of bricks and mortar capex required, just a couple of million spent on IT, like web design, DB, etc.

Despite it being easier to run and plan than a corner shop selling fruit and veg, it lost millions.

I'm waiting to get a glimpse of their accounts, to confirm the whole shebang was set up to smokescreen some serious backhanders via ludicrously inflated salaries for the big boys - something that is all too common in the charitable sector.

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