September 07, 2005

Too Costly or not Costly Enough?

After reading about Wal-Mart's rapid response to Katrina, Radley Balko asks:

H. Lee Scott for director of FEMA?
To take this seriously, I doubt that FEMA is legally permitted to entice Mr. Scott away from Wal-Mart with anything near his current ~$12.6M compensation package (including stock options). With $42M in Wal-Mart stock, he certainly wouldn't be doing it for the money.

Instead, FEMA is managed by MIchael Brown, who, as a level III executve will earn $149,000 in 2005.

Wal-Mart's CEO earns about 85 times the amount of FEMA's Under Secretary. Is FEMA getting the management that it is paying for?

Posted by Kevin on September, 7 2005 at 09:37 AM

Comments & Trackbacks
Christine wrote:

No wonder the starting rate at my store is $5.75 !

-- September 17, 2005 06:09 PM ∞

Kevin Brancato wrote:

Which store is that?

-- September 18, 2005 01:52 PM ∞