March's True Madness

In times of crisis, sharing in the "pain" of budget cuts is both a symbolic and appropriate response as part of a recovery plan -- a plan that should also include sharing in the gain on the upside.

While sacrifices should be part of a responsible long-term plan for dealing with the crisis, such a plan also must recognize the need for long-term structural changes, including more shared prosperity, responsible executive compensation, and placing greater value in everyone's contribution, not just top leaders.

"March Madness" would be ignoring the team responsibilities we have as leaders and Americans. It is a time to focus on the common good, in both the short and long run, if one wants to be a real leader in times of economic crisis.

By Andy Stern

 |  March 15, 2009; 9:40 PM ET
Category:  Compensation
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