What do you think motivates a master-of-the-universe like Paulus? Or--to state my intended question more clearly--if you wanted to hire someone of Paulus' ability, what do you think his preeminent concern would be, in evaluating your job offer? (I pray that answer came easily.)
Under its current setup, society dangles huge rewards in front of those good at steering large business entities. Granting that the corporate governance marketplace suffers from bottlenecks, high executive compensation still makes social sense: Economic growth is beneficial--and greatly needed--whether driven by small or large entities. (Were a stratospheric executive to confide she was here 'primarily for the money', I'd not feel unease--I'd feel soothed.)
What then ought we make of a CEO who tells his board he'll work without compensation?:
The chief executive of Allina Hospitals and Clinics is voluntarily working without pay until the Twin Cities' biggest hospital chain reaches an agreement with its nurses.The reason?
After Twin Cities nurses voted overwhelmingly to authorize a one-day strike last week, Ken Paulus sent an e-mail to all Allina employees saying he had asked his board to suspend his pay as a way to "align our leadership with you."A rather enjoyable pas de deux in the art of hypocrisy, no?
Both sides know high executive compensation makes economic sense--and both sides assume Joe Sixpack is incapable of grasping that high executive compensation probably works to his own benefit.
Both sides assume nurses--capitalizing on the masses' presumed economic illiteracy--will grandstand successfully over the 'injustice' of CEO remuneration. Accepting the public's economic voodoo as essentially immobile and permanent, Paulus doubles down--pretending to be that extra-nice corporate chieftain so spiritually one with his board he's willing to work for free--until the gallery goes away.
