An article in the Jewish Daily Forward notes many Jewish executives who’ve taken pay cuts in harsh economic times.
But not Joel. He’s rewarding himself for having kept both Bernard Madoff and Ezra Merkin in positions of power at his university until they were hauled off by the authorities.
Gross negligence of the sort that permanently soils a university doesn’t come cheap.
June 18th, 2009 at 3:31PM
I think salaries at places like universities should be set as they set the pay in Moby-Dick: you receive a specified percentage of the revenue, whatever the revenue turns out to be. ("I am going to put him down for the three hundredth," said Peleg, "do ye hear that, Bildad! The three hundredth lay, I say.")
Perhaps Mr. Joel should get the seven hundred and seventy-seventh lay.
June 19th, 2009 at 7:31AM
The bad news is that we sacked about ten staffers, all of whom did useful work. We kept all the vice-presidents, vice-flunkies, deputy assistant catamites, etc. Mysteriously enough, one of the staffer jobs rematerialized under slightly different guise and is now filled by a freshly-graduated offspring of a senior administrator.