Friday, April 28, 2017

Sin, BO, Money

http://www.slate.com/articles/business/moneybox/2017/04/barack_obama_is_taking_400_000_for_a_wall_street_speech_and_that_s_fine.html

I got to hear Mayo's top guy, Dr John Noseworthy, talk at a luncheon this past week -- looks like a CEO from Hollywood casting. Tall, thin, full head of just perfectly grey flecked hair, angular leading man good looks, and oh so smooth as a speaker!

He led off with a little story of silent Cal Coolidge. Cal goes to church, reporter asks him coming out what the sermon was about. Cal says "sin", reporter inquires further on what the minister had to say on that topic. Cal responds "he was against it".

Noseworthy's topic was a  "Strong Diverse Connected Community" ... he was for it. Very effective speaking device. I hope John is a great CEO ... I have a house I want to sell here in the next year or two!

The link is to a Slate article strongly defending BO taking $400K for a speaking fee -- well deserved, W only gets $100K (tsk, tsk). BO's first book post presidency deal is $65 million, that is also a good thing according to Slate. No surprise here ... if it were not for double standards, we know that humans sans religion would have no standards at all. Most everyone loves their own team.

Here is BO on the income topic ... His supporters would no doubt point out that he was indicating limits on what OTHERS should be satisfied with in earnings. As "The One", he is naturally exempt from limits .... being on "the right side of history" has it's privileges.


I got in a little chat with a guy on FB today about some cartoonist in IA supposedly being fired because he complained about CEO pay. I went out and took a look, and the CEO of John Deere makes $16 million a year ... Joe Mauer of Twins fame, $23 million a year, Clayton Kershaw (Dodgers pitcher) is the high in MLB, average salary is $4.5 million.  Noseworthy makes $3.8 million ... less than the average MLB player. Turns out it was last years news ... too old to even  be fake.

I can understand plain old envy -- people just not liking what others make, how good looking they are, their talents, their blessings, their oxen, manservants, maidservants, etc. Covetousness is an old problem ... the answer is to repent, focus on your own blessings and move on.

Who is being "hurt" by CEO or MLB salaries? For the MLB, it is fans buying tickets and possibly consumers buying products that are advertised when games are televised. For CEOs, it is the SHAREHOLDERS, not the employees -- they are not going to receive more salary because the business KNOWS pretty much what they contribute to the bottom line. Here is an article on this if you don't already understand it. 

Even if we assume that CEOs are all overpaid, the pay is not money taken unfairly from other workers. Rather, the undeserved pay is being taken from shareholders. When corporate boards overpay a CEO, it is shareholders who lose because profits that could have become either shareholder dividends or capital gains are instead going into the pocket of the CEO.

Do the fans and the shareholders feel hurt? Not as long as their highly paid star is performing.

Most of the CEOs are actually "progressives" as well ... so we have the odd case where "progressives" hate their own because in general they are unaware they are on their side -- like Oprah, BO, or "The Clinton Fund' (funds ... for Clintons). As the Slate article thinly disguises, what is important is for young "progressives" to understand that as long as they follow "progressive" dogma, both wealth and women are on the list of perks!

Christ died for the whole sorry bunch of us. He even dined with tax collectors -- the lowest of the low on financial matters in those times. Making the money, casting the stones, puffing up our chests in pride because what **WE** make is EARNED ... oh, and JUDGEMENT! We love to judge others!

Filthy rags -- that is what we are best at.
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