{"id":2103,"date":"2009-12-16T06:15:17","date_gmt":"2009-12-16T14:15:17","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=2103"},"modified":"2009-12-17T13:59:59","modified_gmt":"2009-12-17T21:59:59","slug":"the-culprit-was-payexcept-that-it-wasnt","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/the-culprit-was-payexcept-that-it-wasnt\/","title":{"rendered":"The culprit was pay&#8230;except that it wasn&#8217;t"},"content":{"rendered":"<p>The Wall Street Journal, desperate to remain relevant as a pseudo-business paper, has continued to cover the BofA&#8217;s succession drama.\u00a0 As any good writer knows, a drama is better if you can include greed in the narrative.\u00a0 The <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703954904574596413322674146.html\">WSJ&#8217;s headline yesterday<\/a> was <strong>&#8220;Talks Collapse with Robert Kelly Over Pay.&#8221;<\/strong> This headline was based on this part of the interview with a BONY spokesman, where Kelly is currently chief:<\/p>\n<blockquote><p><em>A Bank of New York Mellon spokesman said pay was &#8220;at the bottom of the list&#8221; for Mr. Kelly. &#8220;Mr Kelly was very flexible on compensation,&#8221; he said. &#8220;The more important drivers of his decision were the strategic opportunities for growth at BNY Mellon.&#8221;<\/em><\/p><\/blockquote>\n<p>OK.<\/p>\n<p>So, here is what the process for writing the story must have looked like.<\/p>\n<p><strong>Editor<\/strong>:\u00a0 The headline is going to read that Kelly is refusing to move to BofA because they aren&#8217;t paying him enough.<\/p>\n<p><strong>Writers<\/strong> to Editor:\u00a0 OK<\/p>\n<p><strong>Writers<\/strong> interviewing BONY spokesman:\u00a0 So, is Kelly not going because BofA is not offering enough?<\/p>\n<p><strong>BONY Spokesman<\/strong>:\u00a0 I wouldn&#8217;t say that.\u00a0 There are many issues being discussed in the negotiation.\u00a0 Pay is just one of them.<\/p>\n<p><strong>Writers<\/strong>:\u00a0 So pay is a significant issue?<\/p>\n<p><strong>BONY Spokesman<\/strong>:\u00a0 It&#8217;s an issue, one among many.\u00a0 I wouldn&#8217;t call it significant.<\/p>\n<p><strong>Writers<\/strong>:\u00a0 So pay is an issue, a reason he wouldn&#8217;t go to BofA.<\/p>\n<p><strong>BONY Spokesman<\/strong>:\u00a0 Look, <em>pay is at the bottom of the list.\u00a0 Mr Kelly was very flexible on compensation.\u00a0 The more important drivers of his decision were the strategic opportunities for growth at BNY Mellon.<\/em><\/p>\n<p><strong>Writers<\/strong> to Editor:\u00a0 OK, we got your headline!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wall Street Journal, desperate to remain relevant as a pseudo-business paper, has continued to cover the BofA&#8217;s succession drama.\u00a0 As any good writer knows, a drama is better if you can include greed in the narrative.\u00a0 The WSJ&#8217;s headline yesterday was &#8220;Talks Collapse with Robert Kelly Over Pay.&#8221; This headline was based on this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[62],"class_list":["post-2103","post","type-post","status-publish","format-standard","hentry","category-reporting-on-pay","tag-dont-mess-me-up-with-context"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=2103"}],"version-history":[{"count":4,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2103\/revisions"}],"predecessor-version":[{"id":2117,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2103\/revisions\/2117"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=2103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=2103"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=2103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}