Laura Occasionally Blogs

I'm not one of those people who writes screeds on CharityNavigator vowing never to donate to charities that pay their CEOs $650,000; I know that's how much rich people get paid, and for people in business, and people who aren't me, that maybe doesn't sound that extravagant. Still, it's funny, in a world's smallest violin kind of way, to read execs whining and bitching about the bailout-business salary cap announced today.

“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.” ...

“It would be really tough to get people to staff” companies that are forced to impose these limits, he said. “I don’t think this will work.”

Oh, no. Oh, woe. How will we ever find anyone willing to work for a mere $500,000 with the unemployment rate approaching 8%?

Ummm. Have I become a "current events person"? Blah.