Keeping up with the Jones’s/executive compensation
That was the phrase we used as kids to describe the”gauche nouveau rich” who could not be happy living within their means and always looked at their neighbors and wanted more, MORE!
- See Friday/ Financial Times/ On excessive CEO salaries, a never ending spiral upwards for what has become a cliche: He makes more then me, so I have to make more, if I’m to be respected?
The consequences of this behavior have been disastrous for shareholders and most of our Societies. One yearns for competition and the free market. Let’s get “real” on executive compensation. To quote Buffett: He supports people who like to work. Yes, they’re well compensated, but he would expect them to come to work and love their job, whether they were well paid or not.
- Quoting from a not so famous person, my mother, who always said if you could buy it for money, it could be replaced. Money was never as important as family or Community to her.
So, what happened? When did “money” become an end in itself and not the means toward “the good” life?
The CEO’s who brought down our Economy were well compensated. Their constant quest for more, I believe, contributed to the destruction of the middle class. Is it time to rethink our values as a people and a country. This is not about Party!
