Friday, July 10, 2015

I'm trying to make a point about executive compensation (and perhaps implicitly about anti-trust laws)

So I'm going to post this video from Keith Olbermann (I know he can be divisive, but I think he nails this 

Then refer you to this Slate article (you can draw your own conclusions from there):
In a largely symbolic move, the NFL is giving up its nearly 50-year-old tax-exempt status, league officials announced Tuesday. The move extends to the league itself, which had been listed as a nonprofit trade group under Section 501(c)(6) of the tax code since 1966, and not the 32 teams that make up pro football, which are already taxed.

The vast majority of the NFL’s $9.5 billion revenues go to those teams, as NFL Commissioner Roger Goodell noted in a letter to owners and members of Congress announcing the move that was reported by Bloomberg.

“Every dollar of income generated through television rights fees, licensing agreements, sponsorships, ticket sales, and other means is earned by the 32 clubs and is taxable there,” Goodell wrote. “This will remain the case even when the league office and Management Council file returns as taxable entities, and the change in filing status will make no material difference to our business.”

As several commentators have noted, though, the move means that Goodell will not have to report his salary—he made $44 million in 2012 and $35 million in 2013—which invariably gets brought up every time he screws something up, which is quite often.

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