Don't Wager With My Gift: It Hurts My Feelings
I found a recent story puzzling first because I am admittedly ignorant of the subtle vagaries of the stock market and second because I found myself reacting emotionally to something that on the surface was purely abstract. Namely, a wager placed by Warren Buffet that would ultimately benefit the non-profit sector with a $1 million donation. Not that I would personally sneeze at $1 million, but the problem is that Mr. Buffet could easily wipe his nose at it, given his billions, and so would his opposite, a major hedge fund. The subject of the wager? Whether the fees paid to fund managers outweigh the benefits of investing with them and all their expertise. Buffet says you might as well just read the market indicators and bet with your head. The hedge fund managers claim that their extraordinary grasp of analytical tools makes an investment with them much more likely to result in profit.
Wagers placed, meet back here in 10 years and we'll see who wins, the pot to go to the charity of the winners' choice.
You may need to explain to me why this is okay, because I am, as a hard-working member of the non-profit sector, offended that my causes are a cliche. "To the charity of your choice, indeed." Just give the money to charity and bet with mumbly peg. Not as spicy? Not as newsworthy?
I understand cause marketing, but I want to establish here and now that there is an element of condescension in every donation, gift or grant, that the benefactor would do well to dispel, somehow. Not that I mind leftovers, not when I’m starving out here looking for ways to help the homeless, ease the distress of AIDS orphans, or bring disabled kids into the classroom.
I will conclude this brief announcement by noting that in this relativistic world, the hard working, blisteringly bright, Mr. Rick Wagoner, CEO of GM made $15.7 million in 2007, up 64% while his company posted a $39 billion loss, closed four plants, and saw its stock price fall by 19%. Nice work, Mr. Wagoner. By the way, how much are you giving to charity? 5%? Not enough. It had better be at least a million.
Wagers placed, meet back here in 10 years and we'll see who wins, the pot to go to the charity of the winners' choice.
You may need to explain to me why this is okay, because I am, as a hard-working member of the non-profit sector, offended that my causes are a cliche. "To the charity of your choice, indeed." Just give the money to charity and bet with mumbly peg. Not as spicy? Not as newsworthy?
I understand cause marketing, but I want to establish here and now that there is an element of condescension in every donation, gift or grant, that the benefactor would do well to dispel, somehow. Not that I mind leftovers, not when I’m starving out here looking for ways to help the homeless, ease the distress of AIDS orphans, or bring disabled kids into the classroom.
I will conclude this brief announcement by noting that in this relativistic world, the hard working, blisteringly bright, Mr. Rick Wagoner, CEO of GM made $15.7 million in 2007, up 64% while his company posted a $39 billion loss, closed four plants, and saw its stock price fall by 19%. Nice work, Mr. Wagoner. By the way, how much are you giving to charity? 5%? Not enough. It had better be at least a million.
posted by Schultz and Company | 4:09 PM
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