The hubris and profligacy of the California Institute for Regenerative Medicine–established foolishly by CA voters on the wings of ESCR/cloning ultra hype–continues to amaze in its sheer audacity. Now, an executive has been brought on board part time for 6 months, for which he will earn a sweet $250,000! From the ever valuable California Stem Cell Report:
The new interim vice president for research and development at the California stem cell agency holds a $250,000, six-month contract that calls for him to push hard to develop clinical applications that CIRM hopes will demonstrate the success of its $3 billion effort…Under the terms of Lewis’ contract, he is expected to work about 24 hours a week and meet with CIRM officials at least once a week at the agency’s San Francisco headquarters. (CIRM provided an unsigned copy of the contract, which is a public document, at the request of the California Stem Cell Report.)
I hope he doesn’t break too hard a sweat. Besides, the only hope for clinical applications in a short time are with adult stem cells, which the CIRM switched to funding last year.
And look what other CIRM executives receive:
Lewis is the third top executive of CIRM to be working on a part-time, paid basis. The others are CIRM Chairman Robert Klein, who receives $150,000 for half-time work, and co-Vice Chairman Art Torres, who is paid $225,000 for four days a week. By way of contrast, CIRM President Alan Trounson receives $490,008 annually for fulltime work.
Remember, this is all on borrowed money from a bankrupt state. If the MSM would get off their fat duffs and begin to cover this with the front page attention it deserves, perhaps this “agency” could be put out of our misery. Maybe this will help: Hey MSM–this isn’t about promoting the causes of pro lifers. It is about unaccountable fat cats. It is safe to cover the story!
July 3rd, 2010 | 1:11 pm
[...] Read the original: CIRM Part Time Fat Cats Strike it Rich on Californians' Borrowed … [...]
July 3rd, 2010 | 2:47 pm
[...] This post was mentioned on Twitter by Vince Humphreys and others. Vince Humphreys said: SHS: CIRM Part Time Fat Cats Strike it Rich on Californians’ Borrowed Money http://bit.ly/chEklI #tcot [...]
July 3rd, 2010 | 3:44 pm
The point here (I think) is that the CIRM operates with government money, which comes from the taxpayer. If this were a private business, it wouldn’t be such a big deal. If a firm has a good business model, competent executives and excellent products which consumers want to buy, what they want to pay for their managers is not my business.
Yes, I think this is wasteful spending.
July 3rd, 2010 | 3:58 pm
Note: Art Torres mentioned in your post is Chairman of the California Democratic Party and is helping himself to a fat $225,000 salary.
Wesley J. Smith Reply:
July 3rd, 2010 at 4:11 pm
Wayne. I think he is former head of Dems.
July 4th, 2010 | 7:26 pm
What? And no complaints from any of you ideologues about what the Chairman of Goldman Sachs was getting in compensation? Looks like your “ethical” concerns may be a bit misplaced.
July 5th, 2010 | 3:36 pm
HistoryWriter, I have severe hay fever, so if you could stop throwing around the straw men arguments, I would greatly appreciate it.
If I’m not mistaken, it is generally those ‘right wing nuts’ that oppose hECS, and the ‘enlightened liberals’ that support it.
Now, considering liberals also have nightmares about ‘windfall profits’ and ‘wall street fat cats’, the point being made here is that it seems a bit contradictory for the leaders of a group they support being so highly compensated.
‘Right wingers’ typically have no problem with financial success, so why would they complain about Goldman Sachs?
July 6th, 2010 | 8:35 am
HW,
You seem to be permanently stuck on the notion that state, business and civil society are one in the same… or stuck on the idea that they should be.
July 6th, 2010 | 5:51 pm
Just Chris and Michelle: You guys gave me the laugh I needed today. Here you are posting your opinions on an “ethics” website, while saying in so many words that you put profits before people. Amazing, isn’t it, how Republicanism softens the brain?
July 9th, 2010 | 3:07 am
Wesley: I think maybe you should submit your cat to the biggest loser…
Links
Blogs
Find Us
Contact