Thursday, August 6, 2009

Are Americans a bunch of suckers?!?!?

In other words, I hear a lot of backlash from the public about Goldman Sachs' Q2 earnings and the trader from Citi --Andrew Hall--who rightfully earned $100MM in compensation...and how all of this just isn't fair. Yet--this QB for the New York (football) Giants just inked a deal worth $100MM and all he gets is a bunch of high fives!

Ken Langone said it best last night on Kudlow: Andrew Hall earned $2 billion..that's right, billion...for Citi and had a deal on the compensation agreement ($100MM), yet Citi hasn't paid b/c they're worried about the fallout from Capitol Hill. As Langone put it, "If I guy made me $2 billion, I'll be happy to pay him $100 million."

The point is this: Is the American public a bunch of suckers?!? Seriously. Ticket prices are through the roof, concessions are outrageous, and the team has all of these off-the-field issues--yet--fans get the feeling that they're played for suckers when it comes to entertainment. I doubt Eli Manning is valued at $2 billion for the Giants...and if he is, he should fire his agent...because 5% compensation off of that value will say he's underpaid.

Imagine that headline!!

Jobless claims and retail sales are on deck today. Will report more later.

Todd M. Schoenberger

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