HITTING LEFT #21 with Pidgeon Pagonis

Tuesday, February 22, 2011

A truly selfless Wall Street guy

 Ownership Society News

Bill Daley will earn a meager salary of only  $172,200 as White House Chief of Staff. That means he's taking a pay cut of $19,827,800 this year and every year he's doing the job. Why would someone take a pay cut of nearly $20M you ask?
Daley, brother of Mayor Daley, got much of his income from JPMorgan Chase & Co., where he was a top executive. Daley also served on the boards of directors for Boeing and Abbott Labs and owned shares of stock in both companies. Daley resigned his seats on the two boards after joining the White House in January. The White House says Daley has divested all of his holdings in individual companies and reinvested the proceeds in “non-conflicting assets” such as diversified mutual funds. -- Sun-Times
Just dedicated, I guess. Hmmm.

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