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October 22, 2009 Step Down
In a May 2005 speech at a Conference on Media Reform, Mark Lloyd, the current Chief Diversity Officer at the Federal Communications Commission, said:
Yesterday, the New York Times revealed in a chilling, Orwellian story that the Treasury Department is going to order (yes, order) companies that took bailout funds to reduce the compensation for their top 25 executives by up to 90 percent. The two stories may be related. Publicly, the government is saying that this will not cause a mass exodus of these executives. I don't know about you, but a 90 percent pay cut would certainly cause me to dust off my resume. I know that these are not media companies, however, I wonder if the government is intentionally forcing these people to step down so "someone else can have power"? I think I just saw Karl Marx smiling in his grave.
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