Says Lawyer
"Arrogance and a sense of entitlement are common among business leaders. They think they’re smarter than everyone else,” says Jake Zamansky. Peter Newman points to the example of Conrad Black.
"When shareholders first complained about executive compensation in 2003, the tycoon was given an opportunity to make a payment and make his problems go away. Instead, he was convinced he was in the right and had the upper hand, and he chose to fight.
“He had any number of chances to pay a small amount of money and get out of this whole thing, to pay this and it would all be over.... Black, despite being at the helm of a publicly traded corporation, never really understood that he alone was not in charge."
