It's a Free Market, Not a Government Market
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I might have been bad. But it's because I heard bureaucrats trying to be good.
This isn't an issue about Barney Frank or Jesse Jackson. Or any one of a number of Wal-Mart bashers.
It's about their faith in the government to correct ills they see in private enterprise.
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That's not their role. That's not the government's role.
Be very careful when someone in government says he wants to fix something — be it CEO salaries that he deems too high or a retailer's work schedule that he deems too harsh.
Keep in mind it wasn't the government that fired Bob Nardelli at Home Depot. It was angry shareholders.
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And it wasn't the government that corrected crooked corporate book-keeping. It was the vast majority of good CEOs who couldn't stomach the sins of a few spoiling the decency of the many.
Congress has a problem with profits. I do not.
Congress seems to think it's a sin companies look after their bottom line. I do not.
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And Congress thinks it's best suited to police exorbitant salaries. I do not.
It's a free market. It's not a government market.
If a team wants to pay 100 million bucks to an untested Japanese pitcher, it's their call, their money. So too a company that wants to dole out the same to an untested CEO.
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The pitcher's worth it if he performs. A waste of money if he doesn't. So too the CEO.
Shareholders own public companies. Not Uncle Sam.
When they make money, I think they're OK with the boss making money.
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When they don't make money, they're not OK with the boss making money.
I just wish Congress would spend as much time looking at its own pay for performance as it does others. Then start practicing what this huge glass house preaches:
Perform. Get paid.
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Do not. Get out.
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