Bloomberg Still Saying Out-of-Touch Things

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Photo: Everett Bogue; Photos: Getty Images, iStockphoto

As part of his ongoing effort to provide Bill Thompson with enough material for the perfect "Mike Bloomberg Doesn't Understand Real People" campaign ad, Bloomberg defended everyone's favorite industry today: Big Pharma. "You know, the last time I checked, pharmaceutical companies don't make a lot of money, their executives don't make a lot of money," he said during his weekly radio interview with John Gambling. He must have checked a long time ago, because the average compensation for one in 2008 was $3.65 million, with a few raking in more than $25 million (a.k.a. a lot of money). Later in the show, realizing his mistake, he acknowledged that pharmaceutical executives are actually "making a decent amount and more than a decent amount."

Bloomberg: Don't 'Beat Up' On Big Pharma [Daily Politics/NYDN]
Earlier: Bloomberg May Not Realize That Rich People Are Unpopular