$150 Per Hour to Run GM?
Regardless of what you think about corporate executives, they do work pretty hard. You don't get to run Bank of America by being a 9-to-5er. The modern large company CEO's life is pretty much consumed by his/her job. I'll be conservative and say that such a CEO probably works a 65 hour week. With two weeks vacation, that's 3,250 hours a year. So at Obama's salary cap of $500,000, that works out to $153.85 per hour. $154/hour to run Bank of America or Ford or even a small piece of Citibank? My plumber bills more than that per hour. No top executive in his right mind would put in the work and dedication it takes to run a huge organization for that kind of money. So companies would either see top management leave or work less hard. This is a good idea? At such a wage rate, American business will very quickly cease to be the envy of the world as the talented and driven decide it is better to pursue other activities.
posted by Donny Baseball at 5:08 PM
1 Comments:
While it should go without saying that even a legitimate President's "ordered" $500,000 pay cap is an unenforceable intrusion into the private sector, as if that weren't enough, Obama LACKS EVEN OSTENSIBLE AUTHORITY to issue the order UNTIL HE OVERCOMES "RES IPSA LOQUITUR" BY SUPPLYING HIS LONG FORM BIRTH CERTIFICATE AND PROVING HIS ELIGIBILITY TO BE PRESIDENT UNDER ARTICLE 2 OF THE US CONSTITUTION.
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