Bank CEO thinks journalist salaries are 'outrageous'

"Outrageous," as in too high:

http://www.bloomberg.com/news/2012-02-28/jpmorgan-chief-dimon-assails-pay-practices-at-newspapers-in-bank-s-defense.html

He says newspapers pay out 42 percent of their revenue for salaries, which is too much. Then, he adds, "Worse than that, you don't even make any money!"

 

Release the hounds!!!!!

 

Either this is an Onion story or Jamie Dimon is the world's biggest douchebag.

 

Does he mean that the salaries are too high or that there are too many people on staff? I think he means the latter.

 

Proof positive that you don't have to be smart or have any special talent to be a CEO.

Shit, this fucktard didn't even cite which newspaper(s) had the 42 percent of payroll. And if he was looking at Gannett, odds are, that 42 percent was including Craig Dubow, who as we all know, is not a journalist, but a corporate jackass like Jamie Dimon.

Nice try, asstard.

 

The only thing Jamie Dimon knows about a newspaper company is how to gut one for everything it's worth and then leave the employees holding the carcass in bankruptcy.

 

Ball bat to the skull.

 

Let this guy try to live on a sportswriter's salary for a month and then see what he thinks.

 

Dimon has so little knowledge of actual businesses that he doesn't understand that the labor cost percentage of newspapers is so high because newspapers are labor intensive businesses, just like all information generating businesses are. I'll bet the CIA's salary percentage is even higher.
Also, he's human slime. Tarring and feathering would be too good for him.

 

Or else he's been talking to Sam Zell.

 

Exactly what I thought. Zell told his own staff pretty much the same thing a few years ago.

 

I wonder if this guy reads the Wall Street Journal, to, you know, keep up with business trends.

Who does he think creates the Wall Street Journal that he either holds in his hand or reads online? Hint: It ain't bankers writing the copy.