Will Homer ditch his coffee & donut for running a Fortune 500 Company?
It’s a greater possibility today than it was yesterday.
Yes, an idiot like Homer Simspon may be running Chase once Jamie Dimon is fired.
Why?
Because all the good CEO’s are leaving dodge. Because Big Brother thinks CEO pay should be government regulated.
Yeep, both the Treasury & Fed think investment banks CEOs pay should have a ceiling (at this time this new ruling seems directed towards companies that got bail out money).
It’s very tempting to throw your hands in the air and say, “Yes, the government is finally standing up to the big boys”.
And that feeling is well warranted. Top level CEO have been raking in boat loads of cash via stock options for the past decade. I mean, some CEOs cashed in 100 milion dollars worth of options in ONE day.
Wouldn’t it be cool to say to your wife, “Honey, I’m going to bank today and withdraw 20 million. Can I get you something on the way home?”
Yes, the pay was excess. But it was the CHOICE of the board of directors. Their choice. Not Big Brothers.
And the last time I checked, smart guys follow the money. I mean, isn’t that usually true. First it was being a doctor (today, who wants 500K of debt to make 150K a year). Then is was M&A (weren’t those the days). Now is it the internet. Thats were the talent is headed. Because that is where the money is.
And when the government starts restricting the amount of cash a person can make, the smart players decide NOT to play in that sandbox (didn’t those commie bastards do a failed experiment called the USSR?).
In other words, the very people we need to get us out of this mess are leaving for better opportunities. Wouldn’t you?
In all reality Homer Simpson probably wouldn’t head up a fortune 500 firm.
But maybe his cousin!
