[BC] Belt tightening

[Rich Wood]

------ At 12:23 PM 12/13/2006, Reader wrote: -------

>The Emmis CEO has reduced his salary to $1 this year.
>
>You have to wonder how many other hundred-millionaires (and 
>billionaires) will do the same.

I realize life is going to be tough. Maybe a less prestigious country 
club, fewer excursions on the yacht. I remember how Lee Iacocca 
suffered when he took $1 while the government bailed out Chrysler to 
make it attractive enough to become a foreign company.

I think the humanitarian way to deal with this is to form a charity 
called United Executive Appeal to help them through the tough times. 
What will Warren Buffett do with only $19 billion left? At least 
Buffett gave money to charity. Do you suppose the others are doing it 
to allow entry-level employees to get pay raises? Maybe to compensate 
engineers for running 8 stations instead of 2? A cynic would say it's 
to enhance stock prices but we know that's not true.

Rich