Monday, October 31, 2005

This is what you pay tax money for: Part II

I am so in the wrong racket.

A Fairmont nonprofit research institute that receives most of its money from the federal government provided its three top officers with a total of $820,035 in salary and benefits in 2003, according to the organization's federal tax return.

Kevin Niewoehner, head of the Institute for Scientific Research Inc., received a total of $397,286 -- including $279,936 in compensation, $110,875 in benefits and deferred compensation and a leased vehicle with a use valued of $6,475.

Paul E. Parker III, vice president and secretary, received a total of $241,485 in compensation and benefits, while Teresa Rundle, vice president and treasurer, received $181,264, according to the tax return.

Charleston Daily Mail

The institute in question is ISR, home to - among other thing - an effort to think tank space elevators.

I am no doubt frightfully ignorant about the true compensation due to really smart guys - but the three quoted folks (and I am very aware that I'm casting stones in a glass house) not actually being compensated for their genius or academic excellence per se - Niewoehner spent a decade at NASA as a Program Planning Executive, Parker is a lawyer, and Rundle is an accountant. Enough degrees for a thermometer. Suits? Dave McGuire would think so. Wonder what the academic grunts at ISR make.

At any road seeing as how they are not a private corporation but are taking money from the taxpayer (hey look more stones in the glass house) and allowing that West Virginia must surely have a low cost of living - you'd think these guys could take a pay cut for the team.

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