We were recently sent an article that was posted in the New York Times. This article was written by a Mr. Cox, who also writes for breakingviews.com. This has to been one of the biggest pieces of spew that has come out of the whole financial meltdown. Just in the first paragraph the rhetoric is beyond digestive excrement. After reading through this pile, it is left to you to feel sorry for these SEO’s and Directors who were instrumental in causing this situation of almost complete financial collapse.
Reading through the author discusses how “managing directors at, say, Goldman Sachs who are paid about $250,000 in salary, could only make a bonus of $175,000 apparently regardless of whether it comes in cash, in stock that can’t be cashed in for years, or in Yankees tickets.” First and foremost, Mr. Lloyd C. Blankfein receives roughly 255 times more annual salary than what this article describes. But what can you expect from a mass journalist site that caters to the financial circuit.
Their “About Us” statement says it all, “Our real-time subscription service currently reaches around 15,000 financial professionals such as investment bankers, senior corporate executives, hedge fund managers, lawyers and private equity professionals.” One might bring the argument that “If SEO’s aren’t paid a fair and equitable salary, they will go somewhere else.” Sure they could, but with the resumes they hold, I doubt they will find much in the way of work. Furthermore, the unemployment rate for January 2009 was at 7.6 percent, and climbing. So if a SEO feels like he/she is worth more, than go join the ranks of the unemployed.
Luckily, most Americans are getting the real information about the “cause, and effect” of why the world is financially in trouble. It’s just too bad that popular sites like the New York Times would allow such defecation to be posted on their site. If you want the real scoop on the SEO pay stipulations here is the link http://www.ustreas.gov/initiatives/eesa/docs/TARP_ExecutiveCompensationIFRJan2009.pdf
Read for yourself, and then decide what point Mr. Cox was trying to make.
Unemployment rate: http://www.bls.gov/news.release/empsit.nr0.htm
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