Supplemental: Frank Bruni’s upset with college presidents’ pay!

WEDNESDAY, MAY 20, 2015

We’ll take it one step farther:
Frank Bruni is upset today with college presidents’ pay.

Last weekend, the thoughtful pundit was upset with the Clintons’ “greed” and with their troubling income.

We think Bruni should be concerned with college presidents’ pay. He makes some good points in his new column.

That said, we’re willing to take it one step farther. Since Bruni’s concerned about everyone else, we think the scribe should start to inquire about major journalists’ pay.

For example, how much does Frank Bruni get paid? How about Maureen Dowd?

People like Bruni are often upset about the money other folk make. At the same time, they tend to be secretive about the piles of cash which gets dished to the big runny cheeses in their own sacred field.

Especially on the TV machine, it’s hard to doubt the pernicious results of big corporate pay. We watch the declining quality of Rachel Maddow’s show and we wonder if a person like Maddow would ever decline as much as she has if it weren’t for the ill effects of massive corporate pay.

In our judgment, Maddow’s a special case. That said, all over our TV “news” divisions, wealthy purveyors are clutching their pearls, asking if Hillary Clinton can relate to “everyday people.”

We’re always struck by the efforts these people make to keep their own incomes secret. How are they able to relate? The question never comes up!

In large part, the clowns on TV are willing to clown because of their very large pay-days. In our view, Maddow has become an especially striking case.

Her self-adoration is dragging her down. She’s hardly the only one.

21 comments:

  1. From Quartz, May 20, 2015:

    JP Morgan CEO Jamie Dimon’s $20 million pay package will stay intact, despite the fact that nearly 40% of the mega bank’s shareholders voted Tuesday (May 19) not to approve the mighty bank chief’s compensation.
    Just 61% of shareholders voted in favor of the pay package, enough to approve it, but down from 78% last year. Also, more than a third of shareholders voted in favor of having an independent board chairman (rather than letting Dimon hold the board chair title along with CEO).
    The surge in disapproval followed strong recommendations against approving the pay from two prominent advisory firms, ISS and Glass Lewis, which advise big institutional investors on corporate governance issues. The issue was not so much the amount Dimon gets paid (unchanged at $20 million from last year), or the amount of turmoil the bank has gone through over the past year. Rather, the advisory firms object to the inconsistent measures that the bank’s board of directors use to decide how much cash and stock to pay its top executives.
    Voting down pay is a pretty rare for corporate shareholders. More than 90% of companies get the okay from at least 70% of shareholders, according to the consultancy Semler Brossy. And CEO pay is on the rise.
    The major pushback from institutional investors and other shareholders prompted the bank’s board of directors to at least give a vague nod to shareholders, indicating that they will consider making some changes, according to Bloomberg: “They generally did not question the actual level of compensation, but the structure of a component of compensation,” Lee Raymond, lead director and chairman of the compensation committee said at the meeting. “We acknowledge the importance of the question,” he said, adding that he would update investors on changes.

    ReplyDelete
  2. From Bloomberg News:

    Six of the world’s biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions.
    Citicorp., JP MORGAN & CHASE, Barclays Plc and Royal Bank of Scotland Plc agreed to plead guilty to felony charges of conspiring to manipulate the price of U.S. dollars and euros, according to settlements announced by the Justice Department in Washington Wednesday. The main banking unit of UBS Group AG agreed to plead guilty to a wire-fraud charge related to interest-rate manipulation. The Swiss bank, the first to cooperate with antitrust investigators, was granted immunity in the currency probe.
    The four banks that agreed to plead guilty to currency charges are among the world’s biggest foreign-exchange traders. They were accused of colluding to influence benchmark rates by aligning positions and pushing transactions through at the same time. Traders who described themselves as members of “The Cartel” used online chat rooms to discuss their positions before the rates were set and suppress competition in the market, the Justice Department said.
    All of the banks that pleaded guilty said they received needed waivers from the Securities and Exchange Commission to continue managing mutual funds and raise capital quickly, a person familiar with the matter told Bloomberg.

    ReplyDelete
    Replies
    1. Right. It was "the banks" that committed the crime. No actual people were involved.

      Delete
  3. The AAUP just released its annual salary report. They examined whether faculty salary increases were driving tuition increases. Not surprisingly, they found that administrators salaries not faculty were related to tuition increases. Not only are salaries inflated but the number of administrators has increased dramatically. At my public university, the number of administrators increased by 220% in 15 years while faculty increased 5-10% over the same period.

    ReplyDelete
  4. Does Sparky imagine he's saying something about the impact of pay on media?

    ReplyDelete
  5. Somerby wonders if high pay is the cause of Maddow's decline.

    We know the theory fails when tested on him.

    ReplyDelete
    Replies
    1. You of course mean the theory that if you are paid less, the quality of your work will improve. Isn't that the theory the plutocrats work out of?

      My theory for the "decline" of the quality of Maddow's show -- if there is one -- would also include that MSNBC spends, relatively speaking, next to nothing on it, and the same format of basically talking about the same things Chris Hayes just talked about and Lawrence O'Donnell will talk about again with the same limited roster of studio guests is getting pretty tired.

      Besides, it's baseball season and my team is pretty good.

      Delete
    2. I think these shows misunderstand their audience. They keep trying to provide entertainment when the only reason someone would watch such a show is a desire to find out more about politics and current events. There is better entertainment watching Judge Judy. Why watch Maddow for that? She is capable of providing serious commentary but to do that she would have to do research and invest mental effort that is now being diverted into being fun. That was obvious from her comments when she was interviewed by Jon Stewart.

      Delete
    3. Easiest thing to say that Maddow is only after "fun" and doesn't do research, especially on this blog. Just regurgitate the conventional wisdom of Bob''s tribe, and plenty will agree.

      Harder thing to say if you actually watched her show.

      Delete
    4. I am not aware of any big news items that "broke" on Maddow's show. Everything I have seen on her show has been regurgitated from other media or the web and presented in a "fun" and entertaining manner. I don't believe anyone would mistake Maddow for an "investigative reporter".

      Delete
    5. Maybe that is why they call it "The Rachel Maddow Show" instead of "Rachel Maddow Reports" or "MSNBC Investigates with Rachel Maddow." Or maybe not.

      Delete
  6. I am so happy to share this wonderful testimony about Dr Brave, my name is Mellisa Jefferson I am 32 years old, I live in Florida united states, I am happily married to Sowers Jefferson with three kids we got married in 2004 I am a banker but due to some certain family conditions I had to quit my job so I could have time for my family my husband works in a construction company not long ago around may 2015 my husband started to behave in a way i could not understand, i was very Confused by the way he treat me and the Kids. Later that month he did not come home again and he called me that he want a divorce, i asked him what have i Done wrong to deserve this from him, all he was saying is that he want a divorce That he hate me and do not want to see Me again in his life, i was mad and also Frustrated do not know what to do,i was Sick for more than 4 weeks because of the divorce. i love him so much he was everything to me without him my life is Incomplete. i told my sister and she told me to contact a spell caster, i never believed in all this spell casting of a thing. i just want to try if something will come out of it. i contacted Dr Brave for the return of my husband to me, he told me that my husband have Been taken by another woman, that she cast a spell on him that is why he hate me and also want us to divorce. then he told me that he have to cast a spell on him that will make him return to Me and the kids, he casted the spell and After 27hours my husband called me and He told me that i should forgive him, he Started to apologize on phone and said That he still loves me that he did not know what happen to him that he left me. it was the spell that Dr Brave casted on him that brought him back to me today, i and my family Are now happy again today. thank you Dr Brave for what you have done for me i would have been nothing Today if not for your great spell. i want You my friends who are passing through All this kind of love problem of getting Back their husband, wife , or ex boyfriend and girlfriend to contact him on this email: bravespellcaster@gmail.com , web site:http://enchantedscents.tripod.com/lovespell/ . and you will see that your problem will be solved Without any delay or effect cell number +2348072370762 Thanks for reading..

    ReplyDelete
  7. Hello Everyone, please read my testimony, my name is Anne Paul and i live in Switzerland, i never knew there are still real people who can still solve problems for real, my problem was solved under forty eight hours by GREATSHAKEKE i met online, His email is greatshakekespelltemple@yahoo.com First i thought he was fake, till my problem was solved by him, (this man is very powerful he live in India) my husband just woke up one morning and left me and my two kids for almost four years, not too long i lost my job i was struggling to feed myself and my kids. till one faithful day a friend of mine introduce me to this spell casting , she told me this man can solve all my problems, first i doubted, this man did it for me, i got a better job with more higher income, and my husband return home under forty eight hours begging me to forgive him. this man can help you solve the following problems: contact him again his email address is greatshakekespelltemple@yahoo.com I assure you that you will also drop your testimony.

    ReplyDelete
  8. My name is Kate Morrison, i live in UK. My life is back!!! After 2 years of Broken marriage, my husband left me with two kids, I felt like ending it all, i almost committed suicide because he left us with nothing, i was emotionally down all this while. Thanks to a spell caster called Dr. Ogbefi of solution spell cast which i met on-line. On one faithful day, as I was browsing through the internet, I came across several of testimonies about this particular spell caster. Some people testified that he brought their Ex lover back, some testified that he restores womb,cure cancer,and other sickness, some testified that he can cast a spell to stop divorce and also spell to get a good paid job so on. He is amazing, i also come across one particular testimony, it was about a woman called Vera, she testified about how he brought back her Ex lover in less than 2 days, and at the end of her testimony she dropped his email solutionoflovespelltemple@hotmail.com. After reading all these, I decided to give it a try. I contacted him via email and explained my problem to him. In just 48 hours, my husband came back to me. We resolved our issues, and we are even happier than ever.Prophet Lord you are a gifted man and i will not stop publishing him because he is a wonderful man. If you have a problem and you are looking for a real and genuine spell caster, Try him any time, he is the answer to your problems. you can contact him on solutionoflovespelltemple@hotmail.com, he is the best caster that can help you with your problems.

    ReplyDelete
  9. Hello Everyone, please read my testimony, my name is Anne Paul and i live in Switzerland, i never knew there are still real people who can still solve problems for real, my problem was solved under forty eight hours by GREATSHAKEKE i met online, His email is greatshakekespelltemple@yahoo.com First i thought he was fake, till my problem was solved by him, (this man is very powerful he live in India) my husband just woke up one morning and left me and my two kids for almost four years, not too long i lost my job i was struggling to feed myself and my kids. till one faithful day a friend of mine introduce me to this spell casting , she told me this man can solve all my problems, first i doubted, this man did it for me, i got a better job with more higher income, and my husband return home under forty eight hours begging me to forgive him. this man can help you solve the following problems: contact him again his email address is greatshakekespelltemple@yahoo.com I assure you that you will also drop your testimony.

    ReplyDelete
  10. In our simple life, love plays a very specific role.Now we are able to make your love life healthy and it has no space for any type trouble. These all are possible with the help of AGBAZARA TEMPLE OF SOLUTION. He helped me cast a spell that brought my long lost lover back withing 48hours who left me for another woman. you can also contact him on (agbazara@gmail.com) or call him on +2348104102662 and be happy forever like am now with his experience.

    BETTY from USA.

    ReplyDelete
  11. My experience with Mother Iyabiyesi has been nothing short of amazing. She easily connected and understood exactly what was happening with my husband. mother Iyabiyesi knew which spells would work to bring my lover back, and the results happened faster than expected. you contact her on her email mother.iya.solution.home@gmail.com if you you want to get the
    love of your life back. Kendash Pique

    ReplyDelete

  12. In your blog I was happy to see your article, better than last time, and have made great progress, I am very pleased. I am looking forward to your article will become better and better.
    agario skin | mahjong connect | minecraft games |pac man | my little pony games | mickey mouse games | sniper games | agar io |halloween

    ReplyDelete