Goodbye Barry - Welcome Home AMERICA!

Tuesday, July 15, 2008

Defining The Word "Obscene" in Practical Terms

The CEO of Occidental Petroleum Corp., Ray Irani was compensated at the rate of $34,700,000.00 in 2007. That's $133,461.53 per day (which is a bit more than 5 times the average annual income of working-class Americans), or $219.23 per minute! I do understand the basic tenets of the "free market", but at what point does compensation for services rendered become obscenely ludicrous ?

During a time when the average American worker is worrying about housing, feeding, and clothing his/her family, Irani is making the workers weekly wage in approximately 2 minutes and 13 seconds! How can we even imagine
that someone living at that level has the slightest concern about Joe Average? Granted, Irani is the highest paid oil company CEO in the USA, but the other gas bandits are right up there in the same rarefied atmosphere, drawing anywhere from $5.6M to $25M compensation packages.

How much money is the time and talent of one human being,
who has not personally created the business from the ground up, worth? The entrepreneur is worth whatever he can make. On the other hand, someone who is basically a nothing more than a manager should have more realistic compensation.

1 comment:

Krista said...

That's more than the Publisher's Clearing House is offering! Can we adopt him?