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Bloomberg Defends Astronomical Drug Company CEO Salaries

Posted by libhom Friday, August 21, 2009

Mayor Bloomberg always has been out of touch with middle class and poor people here in NYC, but now he is showing that he has lost touch with reality.

From Crain's New York Business 8/21/09:

In its continued attempt to display Mayor Michael Bloomberg as out-of-touch with the average New Yorker, the Thompson campaign jumped on a comment made by the mayor during his weekly radio show that suggested pharmaceutical company chief executives are not highly paid.

After the mayor told WOR’s John Gambling, "You know, last time I checked, pharmaceutical companies don't make a lot of money, their executives don't make a lot of money,” the comptroller’s camp fired back with a press release declaring “Mike Bloomberg needs a dose of reality.”

The release included a list of the top 17 pharmaceutical CEO salaries, ranging from Miles White of Abbot, who earned $33.4 million in 2007, to Gerald Le Fur of Sanofi Aventis, who earned $3.3 million, according to the Web site Fiercepharma.

$3.3 million is an astronomical salary. It is physically impossible for any one person to earn that much money in one year. Yet, Bloomberg would have us believe that these parasites "don't make a lot of money."

Excessive executive pay at the drug companies, like enormous executive pay at the HMOs and health insurers, is an important area of inefficiency in our healthcare system that we need to address. We need leaders who will be reasonable and living on the same planet as the middle class and the poor.

We cannot expect that from Emperor Bloomberg. He will spend more of his personal fortune on this mayoral campaign than anyone can actually earn in a lifetime. When Con Edison performed execrably during a blackout a couple of years back, Emperor Bloomberg defended their scumbag CEO. Bloomberg will excuse any CEO for anything.

We need a new mayor desperately.



  1. another reason to send Mayor Mike back to Boston

  2. wendyintx Says:
  3. I read about what Bloomberg said and I think its high time for us to go after these bastards with pitchforks...
    Pharma CEO's don't make that much money...sheesh.



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