Carly Fiorina, former CEO of an $80 billion company, said that the presidential and vice presidential candidates competing to run a $3 trillion federal budget would not be qualified to be CEO. (Curiously, the market seems to have had a similar opinion about Fiorina. During her tenure, HP’s market value dropped in half. After she left in 2005, the stock rose by 224%)
My initial reaction to this was scorn for Fiorina. Here, I thought, is another CEO who actually believes her own compensation package. But then I woke up this morning to news of the bailout of AIG – something that will cost taxpayers $85 billion. It is true, I thought. Any president who could nod his head at that kind of a bill would not be able to run an $80 billion a year company.
R World (Ron Davison muses aloud)
"cost" the taxpayer $85billion? Not likely. Just watch, the government will make the taxpayer a whack of dough on this one. So much for capitalism.
ReplyDeleteanon,
ReplyDeleteI guess that is a possibility. Buy low and sell high? It seems like it would be harder to find another party with $100 billion. You think that DC will eventually sell to the Saudi's or China?
I understand that the terms placed on AIG are so onerous, it might be a no-lose proposition. That's what you get to do when you are government, they're looking more like Chavez every day.
ReplyDeleteAs for doing a flip to the Saudis or Chinese, well, they're the ones with the money. What we'll probably see though is a piecemeal breakup so the strong little fish gobble up the big sick one.