Sunday, July 25, 2010

Viewing and Reading Notes

PoliticsPA's up and down on Friday led to two video clips of Patrick Murphy talking about the Improper Payments Elimination and Recovery Act. One is from a press conference, the other from an appearance on "Morning Joe." Both are entertaining but for different reasons.

Reading through Sunday's Inquirer I noted an op-ed by local celebrity economist Mark Zandi. "Serious mistake to believe the stimulus failed" ends with:

There have been missteps for sure, but government has served us well. We must not lose sight of that now, because the economy still needs help.

[blogger's note: Moody's is now Moody's Analytics. I don't know why the name changed.]

In the business section, Bob Fernandez writes "High cost of Hershey School-related boards." I noted this paragraph:
"In Philadelphia, not only do prominent businesspeople serve on charitable boards without compensation, but in many cases they are expected to raise and contribute funds to the charity," John W. Schmehl, a partner with Dilworth Paxson L.L.P., said Friday. "The constant increase in board fees in Hershey is troublesome, even if they do come from subsidiaries of the Trust."

The high pay for those on corporate boards has disturbed me as much as high executive compensation. It is especially annoying as I've served on the board of school, community, professional, and labor organizations, all without any compensation and most often with expectation that I will donate my own or raise money for that particular cause. But those who serve on the board of a local bank or business or, in this case, school, can't be expected to show up unless you pay them and pay them well. Something not quite right about that.

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