Socialism for Billionaires
By From each according to his abilities, to each according to his socio-economic status.
Update: Matt Millen was just fired. It’s clear that certain trenchant media criticisms in this time of economic upheaval made all the difference.
Update II: From the Detroit papers:
Millen could leave with $50 million by Tom Kowalski Wednesday September 24, 2008, 2:15 PM
Now that the Detroit Lions have fired Matt Millen as president, an interesting detail surfaced about his regime. It had been widely reported that Millen made $3 million per season during his first five-year contract and then got a bump to $5 million per season for his five-year extension. According to a source close to the situation, Millen’s pay has been $5 million per season from the first year he was hired (2001). Millen has already pocketed more than $35 million in his first seven-plus years and is scheduled to make $50 million for the entire 10-year term. Because he was fired, Millen is due the total sum of that money; he would’ve forfeited the rest of his salary if he had resigned. What isn’t known is whether Millen and owner William Clay Ford came to some kind of buyout agreement for the final two-plus years of his contract.