Ship of Fools

Writing in the New York Times, Andrew Ross Sorkin notes the difference between the way boards compensate their CEOs and ordinary workers. CEOs get more pay than they request because they think the best CEOs get paid the most. But they don’t have the same idea about the rest of us.

4 thoughts on “Ship of Fools

  1. Boeing makes big noises about how they must pay high executive salaries in order to attract the best execs. Then they threaten to move the company to another state when the people who build the plane want a piece of the action.

    So, let’s say you and your family are flying to Hawaii, you’ve got three different planes to choose from.

    Plane A was built by the highest paid machinists in the business.

    Plane B was designed by the highest paid engineers in the business.

    Plane C was built by the company with the highest paid execs in the business, designed by engineers who couldn’t find better jobs, and built by machinists with no experience in aerospace but who do work cheap.

    Tough choice, eh?

    • The problem, CrazyH, is that one’s choice as passenger is restricted to variations on Plane C – sort of like on’s choice as voter in elections in the good old US of A…. 😉

      Henri

  2. Look at how the Times pays its staff and who that staff is. It’s the same gimmick. The current crop at the Times is the saddest batch of coddled weaklings I’ve ever read. There’s a few good ones (Kenneth Chang’s reporting is always good, for instance), but the majority of the people there are out-of-control egomaniacs. Miller, Abramson, Raines, Keller, Friedman, etc., etc. They all think they’re indescribably good.

    In reality, I’ll agree with the first part of that. They sure are indescribable. And when the next round of layoffs comes along, I guarantee no one’s going to sit their ilk down and kick them out the door.

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