Wednesday, February 4, 2009

Moby on the CEO salary cap

Moby has a blog, in case you didn't know. Posts shift between music and politics. It's very stream-of-consciousness but I thought this was amusing:
could you possibly find anyone outside of a corporate boardroom who thinks that a $500,000 salary is not a lot of money? i mean, these ceo's and executives show up, fire a bunch of employees, outsource jobs to other countries, engage in shifty and illegal corporate and accounting practices, get paid millions of dollars, run their companies into the ground, come begging for taxpayer money in order to keep their jobs, and then complain about a $500,000 salary cap?? perhaps a degree of humility and contrition might serve them better than complaining about 'only' making $500,000 a year while accepting taxpayer bailout money? i guess if they don't like making $500,000 they could look for work elsewhere. i'm sure that there are tons and tons of jobs for chief executives whose last resumee item consists of: '2005 - 2009: ran huge financial institution. while ceo i oversaw an 80% reduction in my companies market capitalization, fired 70% of my employees, lost billions of dollars of investors retirement funds, had a hand in creating the biggest financial meltdown since the great depression, and had to borrow $85 billion dollars from the taxpayers just to keep the companies doors open.' yes, i'm sure there are lots of job opportunities for someone with that sort of work experience. or perhaps if the ceo's don't like the terms of the bailout they could get a job at kinko's. no work experience required, $8.50 an hour, 1 hour lunch break, and you can probably make lots of free copies when the manager isn't looking.

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