A Tribute to an Executive

I do not know Mr. Rob Katz. A Wharton Business School graduate and former Wall Street player, the 42-year old now serves as the chief executive officer for Vail Resorts. While congressional politics were finding ways to bail out major financial and business institutions in late 2008, Mr. Katz was exercising bold creativity himself. He announced that his own 2009 salary would be cut to zero, and in successive years reduced from its previous rate by 15 percent. The company's executives and top directors would see a 20 percent pay cut, office workers a 10 percent pay cut, and all other workers a 2.5 percent pay cut.

When asked in an interview about these moves, Katz said "We have chosen to address this situation by making the preservation of jobs and protecting the guest experience our highest priorities. By asking everyone to take less, starting at the top, we can continue to focus on our mission of extraordinary resorts, exceptional experiences."

Preserving jobs and protecting the product for customers. What a novel idea. Starting at the top. What a virtuous ideal.

Would that other corporations, businesses, and schools would follow suit.