"JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said it’s “unfair” for politicians to criticize Wall Street pay without differentiating compensation based on performance." as quoted in Bloomberg.com today.
But it is OK for assembly line workers to have their compensation affected irrespective of performance - right? And if management decisions cause a company to tank, then it is the unions that need to adjust their compensation agreements - right? Not the management. Never the management.
The long-term security of pensions doesn't mean a thing if the management bonuses and private jets are at stake because it's not about the financial burdens at all. It's about who bears the financial burden.
NEWSFLASH: The days of wine and roses are over for corporate management. And aren't those deer-in-the-headlight looks just plain fun?
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