by Paul Jacob
People often complain about executive pay. I don't. What other people get paid isn’t my business.
But after we discovered that many of the major companies bailed out by our government went on to give their execs bonuses, I changed my tune, a bit. How did failed companies and failed businessmen deserve bailouts in the first place? After being bailed out of their mess, the failed execs earned bonuses how? For bringing home the bacon from politicians?
This problem is not limited to private enterprise at the public nipple.
Take DC Metro. This governmental organization, tasked with providing public transit in the District of Columbia and adjacent areas, is in deep financial woes, even worse than many businesses. The transit authority threatens deep cuts in service.
And yet, somehow, they just managed to hike the salaries of management, not to mention the wages of hourly workers.
This is the reaction of a concern when its rising costs are not being matched by income gains?
It seems insane. And yet, this is government, so we at least have a ready explanation. And, being a metropolitan service district rather than a city or county government, it doesn't have many of the usual checks in place. From the people.
If you are looking for a cause to get involved in, I bet your area's metro district would get your blood boiling. Why not look into it?
Paul Jacob's "Common Sense" is published by the Citizens in Charge Foundation. Their website can be visited at www.citizensincharge.org.