How much should someone be paid to bankrupt a company? A shopper’s guide

“It’s in the best interests of taxpayers to have Jamie Dimon running J.P. Morgan. They should want to have the best people out there running these banks, and I’m not sure capping pay is the way to do that.” – Jeffrey Immelt, CEO of GE, on President Barack Obama’s proposal to cap pay for executives.

Hard to know what the CEO of a company that has lost 2/3rds of its share value in 12 months means by “best people.” Certainly Dimon looks good in comparison to Immelt. JPMorgan is down slightly less than half over the same period. Still I think it is in the taxpayers best interest to pay as little as possible for incompetence of this magnitude. George Bush, after all, was paid a mere $200,000 a year.


Compensation numbers can be found here.

During the pet-food-poisoning scandal it was revealed the only difference between many top-shelf brands and their down-market competitors was the labels. I believe the same principle can be applied here.

How about this for a sign: “Will wreck your business for food.”


Funniest (or saddest?) want ad I’ve read in months

An ad I found for a blogger:

We are looking for a fun and enthusiastic freelance writer/journalist that can generate a minimum of 5 articles per day (200-600 words each) during every business day — 5 days a week.

The subject matter is a blend of photo gadgets including digital photo frames, digital cameras, and anything related with digital photo/pictures.

Much of the content you will generate can be based on daily events and news over the blogsphere.

This is really important, so we’re repeating it: you must be able to commit to 5 articles per week day. If you cannot, please do not respond.

You will be an independent contractor and you will be compensated on a monthly basis ($250 USD).

So let’s see a minimum of 4000 words a month for $250 = SIXTEEN CENTS PER WORD!!!! I hope they get what they pay for.