Klein May Resign Over Merit Pay

October 25, 2007 (GBN News): NY City Schools Chancellor Joel Klein is threatening to resign in a dispute with Mayor Bloomberg over merit pay, GBN News has learned. A clearly disgruntled Mr. Klein termed the Mayor’s insistence that performance incentives be added to his contract “insulting”, and said that, “at this stage of the game, does he really think I’ll work any harder for a few Bloomberg LP stock options and a new Blackberry?” The Chancellor was also said to have bristled at the prospect of sharing the incentive with others in the DOE such as Deputy Chancellor Chris Cerf. However, the Mayor was adamant. “Who was he before I made him Chancellor?” the Mayor asked rhetorically. “A two bit federal prosecutor with no PR staff.”

If the Chancellor does opt out of his contract, the Mayor is expected to begin interviewing for Mr. Klein’s replacement. Candidates include Mr. Cerf, several members of the consulting firm Alvarez and Marsal, and former Bush advisor Karl Rove. Joe Torre has already indicated that he is not interested in the job.