Monday, November 12, 2007

Quote of the Day

Many people who have never run one business for one day are nevertheless confident that they know corporate CEOs are not worth as much as they are paid.

~Thomas Sowell


At 11/12/2007 3:40 PM, Anonymous Anonymous said...

I'll tell you right off that I don't know anything about brain surgery. Never tried it. Not even once.

And yet I state with complete confidence that Jeffrey Daumer didn't know anything about brain surgery either, even though he had some real world experience.

At 11/12/2007 4:11 PM, Anonymous Anonymous said...

The problem seems to be that pay may not have anything to do with competence. Just ask those shareholders of the many companies which are in trouble today.

At 11/12/2007 4:40 PM, Blogger Brian Dunbar said...

The problem seems to be that pay may not have anything to do with competence

If you're a shareholder of a company that is overpaying it's CEO, you have options to correct that situation.

If you are not a shareholder of that company why do you care?

At 11/12/2007 7:26 PM, Anonymous Anonymous said...

And you can never get anyone to answer certain questions, like why they rail against CEO pay, but then say nothing about actors making $10 million per film, or former presidents making $7 million for 40 speeches in one year.

At 11/12/2007 7:31 PM, Blogger Thomas Blair said...

Anon 7:26,

They also never seem to have anything to say about Oprah, who manages to earn 24x more than the typical S&P 500 CEO. Does she get a pass because she's a Democrat?

At 11/13/2007 11:46 PM, Anonymous Charles D. Quarles said...

There is no such thing as overpaid or underpaid. You are worth exactly what the buyer paid you at the time and place you were paid. Nothing else matters, since you agreed to accept the payment by taking it.


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