i make fun of a guy w/ a broken leg who can’t defend himself to feel better about my life.

jackwelch.jpgJack Welch is sick and tired of the media harping on high CEO pay, okay? Though he didn’t issue a Godfather-inspired statement about his feelings to the press, he did gather the kiddies round the ye old 92nd Street Y campfire last Thursday night and tell them, “The problem with CEOs is that the board screws up the succession plan. The most egregious payment systems come when someone gets fired, and the board has no ascension plan. Then they have to pay for a new star at another company.” You see, now? It’s the board that messes everything up. The CEO is just an innocent bystander, caught helpless in the crossfire. Daily Intel’s Arianne Cohen also reports that Jackie-boy, estimated at $1 billion, pre-divorce, believes himself to have been “vastly underpaid” and also worries that the media’s scrutiny on CEO pay will cause “good people” to switch to private equity.
On a related note, we have about fifty copies left of the Welch family’s Winning: The Answers; anyone interested, you know where to find us. Otherwise, we’re going to have to make Carney start passing them out next to the AM NY pushers outside the subway as part of his physical therapy program. You don’t want to have to dodge a man on crutches that early in the morning, now do you? He’s small, but boy is he fierce.
Jack Welch (Unsurprisingly) Thinks Media Should Stop Focusing on High CEO Pay [Daily Intel]