Monday, May 14, 2007

Corporate greed

As far as economic systems go, capitalism is the way. It takes human nature into account and provides plenty of goods and services at prices that usually level out. It’s not perfect. There are, after all, still gas companies and the medical sector seems to be totally out of control.

Wages are too low down south. Women make less than me and so do minorities. Still, it’s better than socialism, but that is not saying much. One of the most serious symbolic and difficult shortcomings has to do with compensation for top level executives. You have heard about Wal Mart and the big bonuses at Entergy.

Scott Ford at Alltel gets $89 million if he walks away from the company. Now, to be honest, I am not sure if that works in the best interests of shareholders. It just smells bad when top executives are totally shielded from any of the economic pressures faced by the rest of us. Now, I am a capitalist and I know these guys at the top should get big dollars. The business world is getting just like baseball where the salaries have no relation to production or actual skills.

Don’t pass a law. That won’t work. It makes you wonder if there is anyway for shareholders to get a handle on things, but I am not smart enough to figure that one out. All I know is that something is terribly wrong.

(Broadcast May 11, 2007)

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