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Is Anybody Worth $16,667 an Hour?

Ohanian Comment: Yes, this is related to public schools, a system about which the corporate politicos keep insisting that success comes from hard work and talent.

by Vincent Gizzi

Letter to Editor:

Sam Zell,* according to Connie Bruck, defends his wealth by reminding us that he "works [his] ass off every day!" ("Rough Rider," November 13th). This argument has two distinct flaws. First, I suspect that most drug dealers also work very hard for their money, but we don't factor that into our opinion of their profession. Second, a typical gardener also "works his ass off," yet is lucky to earn fifteen dollars an hour for his effort. If, by hypothetical comparison, Zell worked a grueling three thousand hours last year and earned fifty million dollars, his hourly rate was $16,667. Apparently, the issue is less about the work than about the ass doing it.


*Real estate entrepreneur whose wealth, $6 billion, he is ranked as the 52nd richest American by Forbes. He is the new chairman and chief executive of the Tribune Company-- which owns seven major newspapers, 34 television stations and the Chicago Cubs baseball team. Early in 2008, Zell announced a plan to place the Chicago Cubs and Wrigley Field up for sale separately in order to maximize profits. He also announced he would consider selling naming rights to Wrigley Field for anyone willing to put up the money.

— Vincent Gizzi
The New Yorker
2008-01-07


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