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
Thursday, August 6, 2009
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