I thought it was because of the newly announced Tribefest, resurrected from the dead "as the most anticipated and successful event of its kind in North America."
Money may have made Jerry and JFNA delusional -- after all, it was the same JFNA who announced pre-Festivus 1 that it would be "Birthright in the desert." (N.B. It was in the desert)
JFNA Poll: We hope everyone had a great Shavuot holiday. What type of cheesecake, blintzes or other festive dairy foods did you enjoy? Are they still in your fridge?
Paul you are such a cynic. The answer to these questions speak directly to issues of food insecurity and will help clarify the priorities of the GPT as they contemplate a campaign to send our holiday leftovers overseas. Let them eat Blintzes!
With regard to contract renewal, his contract expires in 2014. Would you take a job working for a CEO who is on such a short leash? Yet, he just signed up a new Marketing SVP, he's looking for a COO/EVP, and he has Mandel looking for a SVP/FRD? All this must have the blessing of the Board Chair, must it not?
I don't think $676k is out of line at all for the CEO of an organization that is (supposed to be) doing good works on behalf of the Jewish people I know lots of lawyers who make this much and lots more who aren't doing good for anyone but their clients and themselves. Where is it written that non-profit execs should have to make any less than for-profit execs?
9509 -- one constructive suggestion -- try punctuation.
There is no dispute with your conclusion that a successful non-profit CEO deserves fair compensation. In the case of Silverman, his compensation was determined by a contract written 4 years ago without any tie to or definition of "success." Thus, unlike lawyers and business leaders, whose compensation is tied to success, Mr. Silverman's is tied to nothing aat all - exactly what he has produced.
Jon, I venture to say that a lawyer who is making $676k is producing something - be it billable hours, a % of a settlement, etc. Tell me, exactly what this CEO has produced to deserve that level of compensation?
Btw, I agree fully that nonprofit execs should be fairly compensated. But unlike their counterparts in the private sector, too many nonprofit CEO's aren't accountable for much of anything. And JFNA clearly sets NO example.
Again, name THIS CEO's accomplishments?????
Let me help you get started:
ISH Festivus Heroes
Together, millions and millions of dollars expended. To what end result?
This is a huge problem in general with the corporate world; doesn't matter if it's for profit or non for profit.
Look at CEO Jaime Dimon, for crying out loud. His company did horrendous things, untold thousands in his company lost their jobs, billions of dollars were squandered, the American and world economy suffered because of it...our government had to be bail him out (that's you, me and all other taxpayers), untold tens of thousands lost money....
...and he comes out smelling like a rose and gets paid an absolute obscene amount of money.
Lots of CEOs receive multi-year contracts or have golden parachutes written into their contracts, so I don't think that's the issue. Assuming the critics are right and Mr. Silverman is not doing the job well, the problem lies with the board of directors or trustees who should fire him or perhaps renegotiate his contract. So let's criticize the board, but not the amount of compensation involved here.
As the great Hyman Roth said to Michael Corleone, "this is the work we chose..." salaries of top execs and salary differentials have like in the public sector gotten out of control; the ROI of the past decade has not kept adjusted pace with the mediocre 90's or the expansive 70s and 80's; and the importation of private sector execs has been a decided bust. We, who entered the field not to get rich but to make a difference, will have a comfortable retirement, sent our kids to good schools and go to sleep at night knowing we have lived a Jewish life worth living. What more can we ask other than the system treat those who follow us fairly and with respect.
But does the Executive Committee have the courage to stand up to those large city CEO's who are quite happy to have Silverman lead a weak, ineffective and NON-THREATENING JFNA? Only time will tell.
I'm betting they don't. Which means the current (perhaps with the next board chair) will preside over the final demise of JFNA as it is presently constituted.
Hopefully what arises from those ashes will put the communal agenda in front of their personal ones.
I thought it was because of the newly announced Tribefest, resurrected from the dead "as the most anticipated and successful event of its kind in North America."
ReplyDeleteMoney may have made Jerry and JFNA delusional -- after all, it was the same JFNA who announced pre-Festivus 1 that it would be "Birthright in the desert." (N.B. It was in the desert)
ReplyDeleteToday's JFNA Facebook page:
ReplyDeleteJFNA Poll: We hope everyone had a great Shavuot holiday. What type of cheesecake, blintzes or other festive dairy foods did you enjoy? Are they still in your fridge?
Makes me wanna BRECH!
And the status of his contract renewal?
ReplyDeletePaul you are such a cynic. The answer to these questions speak directly to issues of food insecurity and will help clarify the priorities of the GPT as they contemplate a campaign to send our holiday leftovers overseas. Let them eat Blintzes!
ReplyDeleteWith regard to contract renewal, his contract expires in 2014. Would you take a job working for a CEO who is on such a short leash? Yet, he just signed up a new Marketing SVP, he's looking for a COO/EVP, and he has Mandel looking for a SVP/FRD? All this must have the blessing of the Board Chair, must it not?
ReplyDeleteThis is all crazy.
The former Marketing SVP accepted the position with R. on the way out. And we all know how badly that turned out.
ReplyDeleteThe CEO gets his contract renewed and the Board Chair will be known as the one where JFNA died on his watch.
I don't think $676k is out of line at all for the CEO of an organization that is (supposed to be) doing good works on behalf of the Jewish people I know lots of lawyers who make this much and lots more who aren't doing good for anyone but their clients and themselves. Where is it written that non-profit execs should have to make any less than for-profit execs?
ReplyDelete9509 -- one constructive suggestion -- try punctuation.
ReplyDeleteThere is no dispute with your conclusion that a successful non-profit CEO deserves fair compensation. In the case of Silverman, his compensation was determined by a contract written 4 years ago without any tie to or definition of "success." Thus, unlike lawyers and business leaders, whose compensation is tied to success, Mr. Silverman's is tied to nothing aat all - exactly what he has produced.
Jon, I venture to say that a lawyer who is making $676k is producing something - be it billable hours, a % of a settlement, etc. Tell me, exactly what this CEO has produced to deserve that level of compensation?
ReplyDeleteBtw, I agree fully that nonprofit execs should be fairly compensated. But unlike their counterparts in the private sector, too many nonprofit CEO's aren't accountable for much of anything. And JFNA clearly sets NO example.
Again, name THIS CEO's accomplishments?????
Let me help you get started:
ISH
Festivus
Heroes
Together, millions and millions of dollars expended. To what end result?
This is a huge problem in general with the corporate world; doesn't matter if it's for profit or non for profit.
ReplyDeleteLook at CEO Jaime Dimon, for crying out loud. His company did horrendous things, untold thousands in his company lost their jobs, billions of dollars were squandered, the American and world economy suffered because of it...our government had to be bail him out (that's you, me and all other taxpayers), untold tens of thousands lost money....
...and he comes out smelling like a rose and gets paid an absolute obscene amount of money.
Absolutely outrageous.
Lots of CEOs receive multi-year contracts or have golden parachutes written into their contracts, so I don't think that's the issue.
ReplyDeleteAssuming the critics are right and Mr. Silverman is not doing the job well, the problem lies with the board of directors or trustees who should fire him or perhaps renegotiate his contract.
So let's criticize the board, but not the amount of compensation involved here.
As the great Hyman Roth said to Michael Corleone, "this is the work we chose..." salaries of top execs and salary differentials have like in the public sector gotten out of control; the ROI of the past decade has not kept adjusted pace with the mediocre 90's or the expansive 70s and 80's; and the importation of private sector execs has been a decided bust. We, who entered the field not to get rich but to make a difference, will have a comfortable retirement, sent our kids to good schools and go to sleep at night knowing we have lived a Jewish life worth living. What more can we ask other than the system treat those who follow us fairly and with respect.
ReplyDeleteYes Jon, the board is definitely at fault.
ReplyDeleteBut does the Executive Committee have the courage to stand up to those large city CEO's who are quite happy to have Silverman lead a weak, ineffective and NON-THREATENING JFNA? Only time will tell.
I'm betting they don't. Which means the current (perhaps with the next board chair) will preside over the final demise of JFNA as it is presently constituted.
Hopefully what arises from those ashes will put the communal agenda in front of their personal ones.