Did I get this right, Glenn Lowry (who MoMA paid $1.6 million + perks in 2009) is leaving MoMa to go to Christies. Whats wrong with this picture? A few years ago I visited with an older man in Vermont - a farmer by birth and habit - who got a phd in economics, became a professor at his Alma Mater (University of VT) founded the Business school there, was later a UVM trustee and served 20 years in the VT general assembly - a real classic value-adding old-time Vermonter of the sort I love. He explained to me why most corporate CEO’s are way overpaid - had many reasons - one sticks out. In baseball a guy who out-hits everyone - that’s mathematically provable and its a skill that matters. With CEOs - there’s almost nothing that proves why one person is worth 20x more than someone with 95% of the skills and experiences of which there are 100s for every one like, well, Glenn Lowry. Compensation becomes a racket and a fashion statement and beyond that - it annoys the staff who do most of the work - because the top people in art museums today are paid way more, proportionately to the average staff. It might stop if some board had the courage to see what happens if they offer HALF the going rate for a director and see what happens to the applicant pool - it might even improve
Posted on: Sat, 24 Jan 2015 02:26:51 +0000
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