Your (quasi-)* government at work

As if knocking down $232,500 annually working full-time for the  U.S. Postal Service isn't enough, the financially troubled agency allows Robert F. Bernstock to take home an additional $270,00 in cash and other compensation from outside firms. 

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Bernstock, who runs the post office's shipping and mailing division, was given a special exemption to pull in the extra extra benefits in 2008 by serving on the corporate boards
for weight-loss giant Nutrisystem Inc. and Pantry Inc., parent of the Kangaroo Express convenience store chain.

The full story is here in the Washington Times. It has provoked an interesting debate in the comments section over whether anyone who runs a $60 billion operation should have time for outside interests that also demand his time. On the other side was this:

So, we've become such a nation of whiner that
we n w complain when people work more than one job? PEASE people, this
type of incessant whining is embarrassing! Who cares if he's working
for more than one company or department? Judge him on his performance,
not he workload.

*The Postal Service is defined as a government monopoly that is created by an act of Congress and is independent of the executive departments. It is required to be self-sustaining.

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  • What probably would be a more interesting debate is whether corporate board members are in any position to exercise fiduciary responsibility to the shareholders. This guy is small peanuts; consider whether a board member can exercise fiduciary duty with regard to a fund group of 200 some mutual funds, or someone from the least progressive of the telephone companies can run an automobile company, or just has the titular role of chairman. Of course, since board members are officers of other companies, you have the situation of them all saying that they have to pay the CEOs whatever they demand, regardless of results, to keep up with the "market."

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