From the News

14 Apr

Someone just got a bonus

Abercrombie and Fitch is to pay its Chief Executive $4m to limit reimbursed use of private jet to $200k/year till Feb. 2014, when the CEO’s contract expires [BBC].

CEO’s typical expenditure/year ~ 850k/year
Expected cost ~ $4.25m
Max(previous years) = $1.1m
Expected cost ~ $5.5m

CEO’s reimbursed expenditure/year ~ 200k/year = .8m
Total cash ~ $4m* + .8m = $4.8m
* CEO makes money on the interest by getting the money upfront. Total income at about 5%/year compounded annually ~ $1.1m

Profits ~ 4.8 + 1 – 4.25 = 1.55m
5.8 – 5.5 = .3m*

*Very likely a low estimate as CEO now has the incentive to fly the plane less.

Science about the opinions towards climate science
Some plausible explanations (not exculpations) for forces shaping public opinion about climate science –

  • “When it comes to climate, academic scientists are jigsaw types, dissenters from their view house-of-cards-ists.”(The Economist). Same article -“People often assume that data are simple, graspable and trustworthy, whereas the theory is complex, recondite and slippery, and so give the former priority. In the case of climate change, as in much of science, the reverse is at least as fair a picture. Data are vexatious; the theory is quite straightforward.”
  • “Weather is not climate” (NY Times)