Jack Welch's comedy act

For anyone who missed the former GE chairman the other night on Stephen Colbert's Comedy Central show, let's just say he's no Stephen Colbert. Actually, he came off sounding snide and rather unpleasant (maybe it was just nerves - there was a deer-in-the-headlights look about him). When Colbert asked why there was so much talk about CEO pay, Welch responded "There's not enough of it" and launched into the old supply and demand nonsense about there being only a limited number of people who can run a company. "It's no different than the third baseman of the Yankees," he said. But do they deserve all that money? "Well, they got it," was all Welch could come up with. As noted by Michelle Leder in footnoted.org, this is the same guy who had shareholders pay for his dry cleaning and fresh flowers.