Easily Resolved
This really doesn't take a rocket scientist to resolve. Here are a couple potential simple solutions. A 10% additional "luxury tax" on all valley home sales/purchases of 2 million dollars or more. Simple there's your $15 million in 75 or less homes sold. Don't like that one? How about we quit wasting all this hard earned taxpayer money we're spending researching / funding a new sports stadium? Hell, we'll just end up subsidizing it over the next 20 years. Does it really take 20 years for everyone to realize it's not profitable? Stadiums never are. Put the money into the hanger, crap, use it as the stadium. Ok, try this one on: Tax the top corporations in the valley a couple of percent. It's not going to break them. The CEOs will still get their tens of millions in bonus money. Hey, if there is even a slight impact on the bottom line, they can always show profitability by laying off another 10-20 thousand low paid employes. It's not like this is something new. Happens all the time. Or a few of the following could just kick down some of their pocket change:
(from Equilar, Mercury News research Article: 06/09/2007)
These are the 25 highest-paid executives below the chief executive level among Silicon Valley's 150 largest companies in 2006. Their total compensation includes cash paid in salary, bonus and other compensation including the value of perks given. It also includes the value of stock option grants and restricted stock awards.
EXECUTIVE, TITLE(s1), COMPANY, COMPENSATION, TOTAL PCT IN CASH, TOTAL PCT. IN STOCK
Safra Catz, Pres and CFO, Oracle, $26,084,800, 17.4%, 82.6%
Daniel Rosensweig, COO, Yahoo, 25,134,355, 6.2%, 93.8%
Susan Decker, EVP and CFO, Yahoo, 24,972,297, 5.6%, 94.4%
Timothy Cook, COO, Apple, 22,838,080, 5.4%, 94.6%
Charles Phillips, Pres, Oracle, 19,017,864, 24.5%, 75.5%
Vyomesh Joshi, EVP, Hewlett-Packard, 16,179,183, 61.6%, 38.4%
Peter Oppenheimer, SVP and CFO, Apple, 15,480,206, 7.0%, 93.0%
Ronald Johnson, SVP, Apple, 15,444,476, 6.7%, 93.3%
Keith Block, EVP, Oracle, 14,892,450, 27.7%, 72.3%
Ann Livermore, EVP, Hewlett-Packard, 14,155,992, 54.6% 45.4%
Farzad Nazem, EVP and CTO, Yahoo, 12,191,657, 9.7%, 90.3%
Philip Schiller, SVP, Apple 11,677,211, 7.5%, 92.5%
Shane V. Robison, EVP and CTO, Hewlett-Packard, 11,481,391, 53.1%, 46.9%
Robert P. Wayman, EVP and CFO, Hewlett-Packard, 11,182,833, 82.3%, 17.7%
Kiran M. Patel, SVP and CFO, Intuit, 11,014,433, 14.0%, 86.0%
Gary Bloom, Ex-Pres, Symantec, 10,390,425, 58.7%, 41.3%
Robert Swan, SVP and CFO, eBay, 9,261,108 24.1% 75.9%
Sergio Giacoletto, EVP, Oracle, 8,899,501 39.5% 60.5%
M. Keith Waddell, Pres, CFO, Robert Half, 8,805,998 42.9% 57.1%
Sanjay Mehrotra, Pres, COO, Sandisk, 8,134,813 13.3% 86.7%
Harold Covert, EVP, CFO, Openwave, 7,713,682 9.3% 90.7%
John Donahoe, Div pres, eBay, 7,634,767, 27.1%, 72.9%
Charles Giancarlo, SVP and CDO, Cisco Systems, 7,595,111, 20.8%, 79.2%
Stephen Elop, Div pres, Adobe Systems, 7,405,971, 38.4%, 61.6%
James A. Beer, EVP, CFO, Symantec, 7,173,636, 41.4%, 58.6%