Thursday, September 16, 2004

As one would provide for an idiot

Economists like to talk about revealed preference: that the amount of money spent on something provides an indicator of its true value to the spender. So from the annual report of News Corporation, Rupert Murdoch's vehicle for global media domination, this Wall Street Journal story gleans (subs. req'd):
The annual report listed Fox News Channel Chief Executive Roger Ailes as earning a total salary and bonus of $7.1 million in fiscal 2004, making him one of the highest-paid executives within the company...Mr. Ailes earned more than other operating executives detailed in the report, including Mr. Murdoch's son Lachlan, who is deputy chief operating officer and who earned $4.1 million in salary and bonus.

So Rupert had the choice of paying huge sums of money to the man at the fulcrum of the Vast Rightwing Conspiracy, or his own flesh and blood, and his judgement about where the money would be best spent is clear. One can only hope that the money is mistakenly wired to the other, non-bald, non-repulsive Roger Ailes.

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