[Vision2020] CEO Dough "Threat To Capitalism":Jeb Bush

Ted Moffett starbliss at gmail.com
Mon Sep 25 11:09:48 PDT 2006


Many will not read the article from Fortune at the web link I gave, but some
of the quotes from that article are so incredible, given who they come from,
I thought I'd forward them in a separate post.
No, these are not anti-business leftists or collectivists talking... Can we
skip the over simplifying stereotypes and derogatory labels to discuss
reality for a change?  The statements after the web link are from the
Fortune article:


How bad are things? Here's one wise man's assessment: "About half of
American industry has grossly unfair compensation systems where the top
executives are paid too much," says Charlie Munger, Warren Buffett's partner
at Berkshire Hathaway.

Florida governor Jeb Bush - a pro-market conservative - is even more blunt.
Out-of-control compensation, he believes, is "a threat to capitalism."

Says Bush: "Large rewards for great results can still be attacked, but
they're very defensible. But if the rewards for CEOs and their teams become
extraordinarily high with no link to performance - and shareholders are left
holding the bag - then it undermines people's confidence in capitalism

"In the time of the French Revolution," wrote conservative Bill O'Reilly of
Fox News about the golden goodbye
Charts <http://money.cnn.com/quote/chart/chart.html?symb=XOM>) handed its
outgoing leader, "Lee Raymond and his $400 million pension would be running
one step ahead of the guillotine." (Actually, Bill, only $98 million of that
princely sum was the pension, but we take your point.)


Ted Moffett
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