Wednesday, January 10, 2007

Required Reading

Barbara Ehrenreich, author of must-reads Nickle and Dimed and Bait and Switch, weighs in on the $210 million severance package Home Depot gave ousted CEO Robert Nardelli. From Ehrenreich's blog at the Huffington Post:

Picture the board members sitting cross-legged on the floor in a circle, munching S'mores and giggling about how cleverly they've undermined the basis of our capitalist economy. Home Depot sales clerks get about $8-10 an hour for lifting heavy objects and running around the floor all day; the CEO gets a total of almost $300 million for sinking the stock. We're not talking about a rational system of rewards - just random acts of kindness, vast sums of money alighting when and where they will, generally in the outstretched hands of those who already have far too much.


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