Why George Lucas, Eric Schmidt, (and yes, Steve Jobs) Should Go to Jail: Conspiring to Reduce Wages [View all]

[BelgianMadCow]

Why George Lucas, Eric Schmidt, (and yes, Steve Jobs) Should Go to Jail: Conspiring to Reduce Wages of 100,000 Tech Pros

One big difference between West Coast and East Coast oligarchs is that a lot fewer people lionize the Eastern ones. Even though the media and sadly too many regulators treat the likes of Lloyd Blankfein with far too much deference, the broader public has wised up. Even MBAs, who normally side with the rich and powerful, have asked me, “When is Jamie Dimon going to jail?”

But Silicon Valley’s royalty occupy a class of their own, the toast of TED talks and the model for aspiring entrepreneurs the world over. And the admiration is particularly strong among the rank and file workers in the San Francisco area. So it’s more than a bit ironic to see that these titans of technology engaged in a formal arrangement to suppress pay to the tune of $9 billion across Apple, Google, Intel, Adobe, Intuit, and Pixar.

Here you thought it was only those poor Foxconn workers making iPhones in China who were being exploited. Silly you.

More at Naked Capitalism. Yet another criminal conspiracy in the vein of LIBOR rigging.