Tuesday, April 29, 2014

the billionaires and the rest of us

Everyone is outraged that the owner of the Los Angeles Clippers is a racist.  People are also somewhat disappointed that Warren Buffet did not vote his 400 million shares of Coke stock against the latest ridiculous executive compensation plan advanced by the companies board.  Two different rich men behaving badly, or just rich men behaving like rich men.  Either way, the only thing they will probably respond to is the moral indignation generated by the rest of us.  It seems the ultra rich crave the adulation or at least the approval of the masses, although in Donald Sterling's case probably not so much.  At least the NBA has a process to perhaps hold him accountable for his speech and actions.   Buffet, and many others in the moneyed classes feel the rest of us should approve of whatever actions they take, even as in his case, his refusal to vote against the Coke compensation plans is a contradiction of his own stance.  For my own part, if I never drink another Coke, I won't lose any sleep.  I hope a few other of the hoi polloi feel the same way.

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