Wednesday, March 25, 2009

Times are tough all over, I guess.

"Ford chief executive Alan Mulally, you and your folks just lost $15 billion! What are you going to do now?"

"I'm going to Disneyland! No, no, actually, I'm just taking a pay cut."

Mulally's total compensation fell by 37% to $13.57 million in 2008, according to a proxy filing from Ford on Tuesday.

I'm guessing Mulally's stable of pool boys and gardeners might take a hit. We all have to make sacrifices.

In other news, the same people who absolutely deserve those multi-million dollar bonuses for burning their companies to the ground would like you to know that raising the minimum wage would be very, very, very, very bad for the economy.

I'm sorry, was that a cheap shot?


Stimpson said...

Of course they think raising the minimum wage is a bad idea. After all, putting more spending money in the pockets of the working poor isn't nearly as productive as putting money in the pockets of people who'll spend it on antique commodes and $80,000 area rugs. Any fool can see that.

Red Tory said...

And in other news of the Gilded Age, according to Alpha Magazine, the world’s 25 top-earning hedge fund managers raked in a staggering $11.6 billion last year — the third-best haul on record since the industry magazine began compiling its rankings eight years ago.

sooey said...

They should change their name to Omega Magazine.