Wednesday, April 8th, 2009
The Obama Administration has stated that they feel many in business are overpaid because of their poor performance. The Big Guys draw Big Salaries, regardless of their performance, and, they say this is not fair to the Little Guys who draw Little Salaries. . They want to control salaries for all businesses, even if they take no government money.
They are now asking for such standards to be applied to the entertainment and sports industries. Too often, they say, a movie star gets paid millions and millions of dollars, and the movie stinks. It bombs out at the box office. Professional athletes, similarly, are paid millions of dollars and they have a lousy year. “The government must stop this inequality. No performance, no big payout, and we don’t care how good the last movie or last season was.They were already paid for that performance.” The Administration spokesman said. He continued “That was then, this is now. There’s a new sheriff in town.”
He went on to say “For example, Movie Star XXX (name withheld because of privacy concerns) was paid $20,000,000 for her last film, and the movie was not good, to put it charitably, and it lost money. Someone earning the Big Salary with that result is totally unacceptable. Professional basketball player YYY (name also withheld because of privacy concerns) was paid $15,000,000 for this season, and his team is dead last in the league. He’s playing about 6 minutes a game. They bring him in as a substitute because the star has to go to the bathroom. That is also totally unacceptable. It is a fraud on the public. They pay big money to see the movie or the basketball game, and do they get their money’s worth? No! Does the star care – no, he or she has her money, but the poor schnook fan is out of luck. That is not the American way.” He said further. “If this situation is not corrected, and I mean right now, the government will step in and take over and nationalize the studios or the team. We will insure that the American people are not cheated by this business practice of inducing customers to pay for their tickets, and then not giving them what they paid for, a winning product. We don’t care that the salary arrangement was negotiated in good faith. The contracts must be revised. This fraudulent business practice will not be permitted under the rules of the present Administration. We are prepared to act to see that the fans and customers are protected.”