Posts Tagged ‘economy’

Executives that scrape by on $1/year

Sunday, August 23rd, 2009

Mark Morford attempts to drown common sense in a tidal wave of snark. He comes to the defense Whole Foods’ CEO John Mackey, who most regard as an asshole or a fool at the moment, depending on his or her political persuasion, because of the anti-health care reform op-ed he wrote for the WSJ. You’re either offended by his political position or shocked at his willingness to throw his company’s fortunes on a fire stoked by his own ego. Or maybe you think he’s awesome. And, unlike Lanny Davis, aren’t even getting paid to believe that. Good for you.

Down with crab cakes! Ban Whole Foods! / On the ludicrous outcry against a brilliant, oddball CEO and his unfortunate opinion: “Keep in mind this is the guy who, not a couple years ago, announced he was cutting his personal salary down to $1 because he said he had plenty of money, didn’t need any more and merely wanted to continue working for the joy of it, and to help improve the world. Huh?”

Huh, indeed. Know who else makes $1 per year? Steve Jobs. And Larry Ellison, the world’s fourth richest man. Like Steve and Larry, John Mackey somehow manages to get by on his millions and millions in stock options.

Econocalypse

Monday, September 29th, 2008

The Bailout Bill. I don’t need to provide a link to that. You know what I’m talking about and if you read this years from now you’ll still know. It’ll be remembered in history, I’m afraid.

Today feels a little bit like 9/11 to me. On that day, after watching the events unfold on television all morning I went out with my wife and 20 month old daughter. It was a beautiful day in Chicago. We walked to the playground just off Michigan Avenue, in the shadow of the Ritz-Carlton. The streets were quiet. The few people who were out acknowledged each other and the tragedy silently. At the playground I said hello to another dad there with his children and commented only on what a nice day it was. He agreed that it was beautiful weather. But everybody knew things had changed.

Today wasn’t like that. At my office, everyone I talked to was ambivalent if they had an opinion at all. I commented to a co-worker that the weather forecast was wrong. The clouds hadn’t broken all day. People know that things are bad but they are mostly concerned with how much all this government spending is going to ultimately cost them. Here’s some perspective on that.

Principled people of all stripes have argued that the bailout is wrong. A moral offense. I’m completely unconvinced. This is a good time set aside morals and principles and get some shit done. Others have argued, more convincingly, that it’s just a bad idea. I’m open to that. At this point, I’m hoping they are right.

P.S. When thinking of a title for this post “Econocalypse” just came to me. But I’m not the first one to use it!