Wayne Pace

Slipping The Ladies Past Accounting

TravelingCatNTI_468x376.jpgSEC filing addict Michele Leder writes with the news that Time Warner CFO Wayne Pace “has been authorized to use the corporate aircraft to travel between his work location in New York City and the residence he maintains in Atlanta since the fall of 2001.” These little trips set TWX back $512K last year, which has got to irk Carl Icahn to no end (unrelated: did you know Icahn hasn’t been an AOL user since the late 90s? Even he’’s embarrassed by the brand.) Sort of interesting, sort of “not until you realize that Pace is the same guy who got into some hot water this summer over his alleged soft spot for a certain accused Manhattan madame.
You remember this one, right? Wayne Pace was reportedly showering Andrea Schwartz with gifts and money. When she was arrested for allegedly running a drug and prostitution ring, Pace denied any kink was involved. He knew her merely as a real estate agent. There was no “inappropriate relationship.” He did not have sexual relations with that woman who is also not a prostitute.
It’’s not exactly clear why Time Warner looked the other way. At the time there was a lot of speculation that Wayne never caught heat because, well, who knows? Maybe it was because he didn’’t pay for the hookers on his corporate card and, ergo, did nothing wrong (or nothing that Time Warner had any business sticking its nose into; if he wanted a lecture he’d go visit his mother in Harrisburg, PA!). But, you know, maybe now someone ought to do some digging into whether all those trips between NYC and Atlanta were business. Or was Wayne visiting his ““real estate agent”?”
After all, we hear some companies have been letting people go for using the corporate jet to get close to their “very good friends.”
News flash: the flying CFO… [footnoted.org]

Wintour, Women and Wayne Pace

The neverending Devil Wears Prada press blitz continues this morning with an article by David Carr about Vogue editor Anna Wintour and whether she’s more harshly judged an executive than her male counterparts. Writes Carr:

Male media stars can ingest illegal drugs, make obscene phone calls or hire prostitutes without apparent consequence, but the failure of a female media figure to say please when ordering coffee can lead to wholesale indictment.

If Wayne Pace Were a Woman Would She Still Have Her Job?
Yes, but only if she says “please” when asking for coffee.
Yes, but only if she’s sleeping with Dick Parsons.
Yes. Our female execs can pay as many gigolos as they want, and we love them just the same..
No. But if Wayne Pace were anywhere but Time Warner, he wouldn’t have his job, either.
No. It’s harder stomach a female exec hiring a prostitute than a male exec hiring one.
Ham sandwich. Hold the mayo.
Free polls from Pollhost.com

In our experience, if you’re good at your job, no one cares whether you say please, but we will admit that people irrationally expect more humility of their female executives than their male executives. (See Martha, Carly, etc.) And as [male media star] ex-NYT executive editor Howell Raines once wrote, “When was the last time they handed out important jobs in New York on the basis of humility?”
But while we’re on the subject of male media stars who hire prostitutes without apparent consequence, we’re sort of baffled that Time Warner CFO Wayne Pace still has a job. No, he didn’t use company funds, but we think it’s safe to say that giving prostitutes money is Generally Frowned Upon With Regard to Appropriate Decorum for a C-Level Officer at a Fortune 500 Company. (Lesson learned: next time you get caught doing lines in public, make sure to note that you didn’t use the corporate Amex to pay for the blow.) All of which begs the slightly irrelevant, but fun-to-gratuitously-raise question: if Wayne Pace were a woman, would she still have her job?