I NOTICED YOUR FRONT-PAGE STORY about Disney executives (Daily Variety, Dec. 2) and find it most courageous and befitting that it should come out at the same time that teachers’ salaries are being discussed.
Not only will the greedy (Disney chairman Michael) Eisner take these stock options (worth about $ 197 million) now, instead of waiting until 1993, in order to avoid the proposed new tax regulation under the Clinton administration that would limit the deductions companies may take to pay to an executive, but this is the same Eisner of reported earnings of $ 10 million in 1990 and $ 5 million in 1991 that fueled the non-union hiring practices that culminated in 1992 with the 15-year rollback of wages for Hollywood extras.
Funny, though, that these very taxes that Disney seeks to avoid are engendered by a corporate greed that breeds the very deficit — through a shrinking tax base — that is causing the financial ruin for the very dedicated people who educate our children. Certainly, the greedy Eisner is under obligation to protect the interest of his shareholders, and certainly a successful business executive who has reported earnings of $ 15 million in the last two years should have some kind of bonus for taking the company so far. But $ 198 million, and in a way to avoid taxes?
So who are the shareholders and do they have children in the L.A. school district? What about the “bonus” for the individuals who are responsible for the education of our children?
Olmos for mayor
LOS ANGELES IS IN CRISIS. We are divided across boundaries of race, ethnicity , income, language and opportunity. Our most basic institutions of justice, education, health care and governance are strained to the point of collapse. The fires of spring showed us such divisions have deadly consequences. And now we face a mayoral election that threatens to divide us further.
More than a dozen politicians, each appealing to different factions, have announced or are about to announce their candidacies. No single one of them can forge a coalition that might bridge and heal the wounds that divide us. We have reached a point where we can no longer afford politics as usual.
Los Angeles requires a candidate who can heal, not divide us. A citizen whose professional and community accomplishments have moved and inspired us. A leader who will lead by example, not rhetoric. Only one man possesses these and other qualities. His name in Edward James Olmos.
The deadline for filing for candidacy is Jan. 25. I urge all Angelenos who feel as I do to urge Mr. Olmos to run.
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