[PEN-L:11220] Re: on CEO Pay

["James Michael Craven" <CRAVJM@xxxxxxxxxxxxx>]

> Yesterday, I mentioned an event study approach, looking at the
> executives who get higher pay while their companies perform more poorly.
>
> Today, I would like to take note of another perversity.  Now that
> universities are becoming more like other corporations, university
> presidents are commanding corporate-like salaries.  I challenge anyone
> to find any marginal productivity in their performance.  At best, they
> are marginally productive.
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 916-898-5321
> E-Mail michael@xxxxxxxxxxxxxxxxx

Response:

Right on Michael. Our President is leaving for California (sorry but
that's where we got him from) just escaping charges of perjury,
misuse of discovery, obstruction of discovery, destruction of public
records, material alterations of public records, obstruction of
justice and felony impersonation of a human being--in the opinion of
several attorneys who settled a discrimination case for $165,000 four
days before going to court where he would have faced evidence for all
those charges.

Maybe we could construct a concept of negative MRP. Try to calculate
the lost productivity and the value of lost output as a result of
marginal increments of Administrators with feudal/fascist tendencies,
propensities toward megalomania and dellusions of grandeur who evolve
and administer practices and policies that choke-off far more
productivity and valued output than they could ever hope to generate.

                          Jim Craven

*------------------------------------------------------------------*
*  James Craven             * " For those who have fought for it,  *
*  Dept of Economics        *  freedom has a taste the protected   *
*  Clark College            *  will never know."                   *
*  1800 E. McLoughlin Blvd. *            Otto von Bismark          *
*  Vancouver, Wa. 98663     *                                      *
*  (360) 992-2283           *                                      *
*  jcraven@xxxxxxxxx        *                                      *
* MY EMPLOYER HAS NO ASSOCIATION WITH MY PRIVATE/PROTECTED OPINION *