Saturday, March 27, 2010

Executive Bonuses and Babe Ruth

Recent reports of executives of corporations on the verge of bankruptcy using taxpayer dollars to vote themselves seven-figure bonuses reminded me of the (apocryphal) story of the time in 1928 when Babe Ruth, after his legendary 60-home run season, told his team's General Manager that he wanted $80,000 to play for the next season. Aghast, his boss pointed out that the President of the United States was only paid $75,000 a year. To which the Babe is supposed to have retorted, "So? I had a better year than he did!"

If executives of a failing firm take taxpayer money, I say they ought to stay late for 2 hours every night to vacuum the carpets, wash and wax the linoleum, clean out the ashtrays, and then come in on weekends to cut the grass, scrub the toilets, refill the vending machines, and do the windows.

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