Gotta keep tax rates low so these guys still have incentives to work:
Scott Freidheim, a senior adviser to former Lehman Brothers Chief Richard Fuld Jr., has found employment at another troubled company, Sears Holdings, as a consigliere to another powerful CEO, Edward S. Lampert. Mr. Freidheim, will become an executive vice president of operating and support businesses at Sears, the firm said Tuesday. At Sears, Mr. Freidheim will oversee the corporate division which houses functions like human resources.
Mr. Freidheim and Mr. Lampert are close friends. Mr. Lampert even attended Mr. Freidheim’s wedding this summer to Isabelle Dufour. You can see the video here.
It seems to me that a member of the existing Sears workforce selected at random would be about as well-qualified for an executive position as would a “senior adviser” to an investment banking CEO. One can hardly be as bitter about the Lehman executives as one can about some of the others, since they’re the ones who didn’t get bailed out, but they still hardly strike me as having recommended themselves highly for future employment.
Previous in TP Yglesias
By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.