Don’t Our CEOs Deserve More?
Published: May 8th, 2007
By: Jim Mullen

Don’t our CEOs deserve more?

Almost every day, you hear another story about some CEO who just got paid $300 million for doing a tiny amount of work. Or no work at all. One guy got $500 million for retiring. Think about that: He got $500 million for the work he’s not going to be doing. Last year, three hedge-fund managers took home over $1 billion apiece. That’s billion with a B.

At first, like everyone else, I thought, “That’s crazy, no one is worth that kind of money.” But then it was explained to me by a 30-year-old billionaire hedge-fund manager on television that it just sounds crazy. It’s really OK, because that $300 million, that $1 billion is going to trickle down to you and me. That CEO is going to buy a house and clothes and cars for himself and his wife and his children, and all that money will get spread around to people who make the cars and the houses and the clothes. It’s really good for everyone, see?

And sure enough, that CEO bought not just one car, but several. A Maserati Gransport. And a Lamborghini. And that money trickles down to us every time an Italian auto worker vacations over here and stays in a Swiss-owned hotel and tips the maid. And that maid will spend all of her minimum wage money right here. Good deal, huh?

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