Mylan Pharmaceuticals CEO Heather Bresch defended her company’s pricing of its popular EpiPen during a hearing before a U.S. House Committee today. Beyond the apparent price gouging involved, her annual salary which increased 67 percent to $18.9 million in 2015 was called into question.
Hold that thought!
Meanwhile across the rotunda, Wells Fargo CEO John Stumpf was defending the management of his bank against the charges of fraud for the fake accounts created by his underlings. His annual salary has been ‘stagnant’ at $19.3 million. And the press and social media are crying foul on that amount.
Hold that thought!!
Ok…here it comes:
The Milwaukee Bucks announced that they have signed a new four year contract with star player and fan favorite Giannis Antetokounmpo for $100 million…do the math…$25 million per year. Crickets.
Now I realize that Mr. Stumpf and Ms. Bresch are on the hot seat so their salaries do come into question. But what they make as CEOs isn’t out of line compared to other CEOs of national companies. I am not defending those amounts…I think they are overly generous and untenable…but they are within the realm of compensation for a CEO.
But $25 million for a basketball player (or a baseball player or football player or etc. player) is absolutely ridiculous. And again…all of those complaining about government spending in the millions for the new Bucks arena instead of social services…nada on player salaries.
Inequity? Damn right! On all counts!
Don’t get me started on how little we pay teachers…
People will pay for their addiction– the addiction to the Packers is as strong as the addiction to heroin.