And YOU ain't Gettin' In.
I subscribe to the Sunday Star Tribune; I enjoy reading a "paper" paper that day and sometimes, they have some great reporting. Yesteerday, I read a column in the Crime "Business" Section" I always read: "Al's Emporium" by Al Lewis of Dow Jones Newswires. You should, too. Here's yesterday's lede:
Playing Board Games
Rajat Gupta was on the board, because he was on the board, because he was on the board.
In the games of big business, the more boards you go on, the more boards you get on.
Rajat Gupta, for those that don't follow the rare occasion s when Banksters do Perp Walks, recently did one at the NYC FBI HQ - after turning himself in. Al explains:
In Zuccotti Park, a few blocks away from the Federal Bureau of Investigation's Manhattan office where Mr. Gupta surrendered, Occupy Wall Street demonstrators carried on their campaign against corporate greed. Some people don't understand what the occupiers are mad about. This is what they are mad about: People who cheat at the highest levels of business and government.
(entire column here)
In his column, Al eplains that back in 2008, "the trade publication "Directorship" named Mr. Gupta to its director's hall of fame." So, I wondered what the going rate - "dues" if you will - for a director was these days. Except, in that rarified union, the GOP's Boardroom Base, members don't "pay" dues; they GET paid. How much? Let's look!
Director Pay Rises Six Percent
As the value of equity awards increased in 2010, director compensation also increased by six percent.
October 26, 2011 by Elizabeth Mullen
Median total director compensation at Fortune 500 firms increased six percent in 2010, from $200,698 in 2009 to $212,512 in 2010, finds a new Towers Watson analysis released today.
(entire column here)
Did these Boards increase the pay of Jane Stenographer or Joe Lunchbucket 6% last year? No, they had their lackeys in today's Greed Over Principles party tell Jane and Joe and everyone else they had to take a paycut - because times are tough.
Yeah, "right."
The GOP lackeys for their Boardroom Base tell you the rich can't afford a tax increase - while the Boardroom Base with Director positions are taking home over $200k - for each directorship.
And remember what Al wrote, way at the top?
In the games of big business, the more boards you go on, the more boards you get on.
That's a union, Ladies and Gents, you ain't gettin' into. And it's a union the GOP will do anything to defend.
And don't you ever - EVER - forget that.