Let's See "Occupy Wall St" Protest This One

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Chelsea Clinton, daughter of Bill and Hillary, is 31 years old and just landed a $300,000-a-year job on Wall Street, to be on the board of directors of Hollywood mogul Barry Diller‘s IAC (InterActive Corp), an internet company with over 50 brands across 40 countries headquartered in New York City.
Georg Szalai reports for The Hollywood Reporter, Oct 5, 2011, the IAC says Chelsea’s “skills and background complement the existing areas of expertise of other board members,” but her appointment is “seen by some as a celebrity appointment.”
Clinton will be paid about $300,000 a year in cash and incentive stock awards.
Steven Davidoff, a commentator for the New York Times’ DealBook, wrote:
““Ms. Clinton has this position only because she is the daughter of former President Bill Clinton and Hillary Rodham Clinton, the current secretary of state. This is clearly an appointment made because of who she is, not what she has done, one that defies American conceptions of meritocracy. The real question is whether Ms. Clinton can act independently and provide value to the IAC board. While there are many doubts on that score – and while Ms. Clinton clearly did not earn this position – she can still demonstrate that she is up to the task.”
Davidoff also highlighted that IAC’s board is full of Diller friends, including former Walt Disney boss Michael Eisner, Warner Music chairman Edgar Bronfman Jr. and Diller’s stepson. In fact, the corporate governance research firm GovernanceMetrics International has cited governance concerns about IAC’s board.
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You’ll be delighted to know that Chelsea’s new boss, Barry Diller,  is also the media executive responsible for the creation of Fox Broadcasting Company and USA Broadcasting.
America’s bipartisan ruling class is such a cozy bunch!
~Eowyn

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0 responses to “Let's See "Occupy Wall St" Protest This One

  1. Steven Davidoff is wrong when he says that this is “…appointment…defies American conceptions of meritocracy.” As Eowyn goes on to list and show, this is what precisely DEFINES American conceptions of meritocracy, in its present corpus of crony capitalism. Classical conservative capitalism would have none of this incestuous mingling of ill-defined and even more poorly related fields of endeavour. Until the rise of the soulless mega-corporation, capitalism was generally a family’s savings put to work in a specific trade or profession in which the members had some expertise, whether it was steel making, pottery, farming, printing, clothes manufacture, or medicine. Today money chases the best return, without thought given to the consequences of that mindless pursuit, as President Eisenhower warned about in his Farewell Address. Ideas have consequences, and the above shows how badly they can evolve. Chelsea’s empty eyes tell us much about her soul!

     
  2. Looks like Diller’s board is entirely composed of members brought on for who they are, not what they are capable of. Chelsea Clinton has as much potential for adding value to IAC the way her mother has potential to add value to the House of Chanel (ZERO!)

     
  3. From the little they said about the company, they sell junk on the internet, so not very important to the world. If they can make money and keep a machine as large as that going with idiots, then more power to them. Maybe we dont use the idiots in the world to thier full potential, is this a clue…What are you doing with your misable little life?

     
  4. can i see other posts by clicking the “see other posts via email” test test

     
  5. Wall Street protestors won’t dare touch a democrats kids. Barbara & Jenna OTOH, were fair game. Typical double standards.
    Presumptuous and I’ll informed d to state we have miserable lives…

     
  6. Eowyn:
    The pic of Chelsea Clinton in this post is downright gruesome.
    It would be a “sustainable” method of eliminating vermin.
    Could we start a “Liberal Wall of Shame” with Chelsea Clinton’s pic, an untouched pic of Eva Longoria, Janeane Garofalo, etc.?

     
  7. What’s goin’ on?

     
  8. That damn nancy pelosi said these botox injections would make me look younger. I can’t feel me lips are they till there.

     

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