Friday, February 06, 2009
Boo Hoo in the Boardroom
Richie Sexson was a first baseman for the Seattle Mariners, earning $50 million over four years. In 2007, he hit barely .200 for the season and struck out more times than all but a handful of players. It’s possible that never in the history of the game had so much been paid for so little production.
At first, fans didn’t seem to care what Richie was getting, so long as he swatted enough homers among his strikeouts. But during his freefall, that $8 hot dog and $10 beer did not go down so easily. He was booed out of the game in ever-polite Seattle.
As it turns out, there’s a performance clause in class resentment.
And when home-office hobbyists could flip a tract house every six months and walk away with a sweat-free windfall, no one would have minded if, say, Countrywide Financial was paying exotic dancers to sort the M&Ms on board the corporate jet of Chief Executive Officer Anthony Mozilo.
See full Article.