Those are specific projects but that does not mean that there haven't been many other projects which reaped great returns. You have to look at the net gain/loss in order to pass judgement.
Ha ha.. you have to convince this logic to all free and fair financial world.
If I lose 1 million to the company as a manager, I would be fired almost immediately.
Can tell me which CEO could survive once making billion dollars loss in the past.
May be, there have no CEO who caused that kind of enormous loss before.