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FOR IMMEDIATE RELEASE
October 23rd, 2009 |
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| Vince Crew: Pay Czar’s Hammer (and Sickle) is a Scary Attack on American Capitalism |
Naples, FL – “The Obama administration’s continuing intervention has now reached beyond our pockets and gone into the pocket books of corporate executives,” according to FOX Radio News Ethics Analyst, Vince Crew.
Crew appeared on FOX stations around the country following the announcement that pay czar, Ken Feinberg is going to slash executive compensation up to 90 percent on companies that received bailout funds: Bank of America, AIG, Citigroup, GM, GMAC, Chrysler and Chrysler Finance. “Washington seems bent on slowly taking over control of a litany of policies, practices, and procedures in the private markets. Despite the President’s voicing that exec comp at these companies ‘offends our values’ – Mr. Obama ignores the offense of bailing out poorly run companies in the first place. And perhaps the greatest offense is that the lines of distinction between private enterprise and government control are drifting from American principles.”
Crew, author of Everyday Ethics, Everlasting Consequences (available at www.REACHdevelopment.com), said, “The biggest danger with this good sounding move is that it gets us on that slippery slope where every step causes us to slide into the muck of government mediocrity and control.
We’ve had the government pick and chose which company is too big to suffer the consequences of bad business models. We’ve had CEOs dismissed and appointed. Now we’re setting compensation packages. What’s next: setting profit margins, product pricing, or unionizing employees? There’s a very scary precedent being set here and the future is unknown.
Crew was interviewed on morning talk shows including WINK (Fort Myers), WHAS (Louisville), WOC (Davenport), WTVN (Columbus), WTAM (Cleveland), KTRH (Houston), KURV (McAllen), WHLO (Akron), and KPAY (Chico).
Select interviews are available at www.REACHdevelopment.com under “Vince Crew In Person.”
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Vince Crew is a U.S. conference speaker, author, executive adviser, and media commentator on strategic growth through leadership, staffing, and ethics initiatives.
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