Every two years, the National Journal, a DC political magazine, does a survey of how much money Washington trade association heads, heads of think tanks, labor unions and the like make. This is a category that also includes 21 former members of Congress, governors, and Administration officials. The figures are for 2006, and so must be adusted (up) for 2008. The top earner was Robert Glauber, head of the blandly named Financial Industry Regulatory Authority, who pulled in $6,823,854. In the IP area, there is Mitch Bainwol, head of RIAA, who pulled in $1,472,944. Dan Glickman, a former member of Congress and head of MPAA, pulled in $1,280,000 plus another $32,800 in other benefits and allowances. Eddie Fritts, president emeritus of NAB made $1,166,350 plus another $1,091,221 (I would have been happy with just the other"). Former member of Congress Pat Schroeder, head of AAP made $444,044 plus $20,134 in others. Kyle McSlarrow, head of the NCTA made $1,754,599.
The purpose of trade associations is to advance the interest of its members, something accomplished through ensuring that greater rights are achieved or threats to members' eliminated. Heads of such organizations, in order to justify their continued employment and compensation, must deliver. I mention the obvious only because it is sometimes asked how it is
ours laws are the way the are: incentives work, after all, not just in the creation of new works.
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