 [The Intercept] Since retiring from the military last year, former Chair of the Joint Chiefs of Staff Army Gen. Mark Milley has become a senior adviser to JPMorgan Chase bank, joined the faculties of Princeton and Georgetown, and embraced the lucrative paid speaking circuit. From military pay of $204,000 a year, Milley is sure to skyrocket to compensation in the millions, especially because he is represented by the same high-powered speakers agency as Hillary Clinton, who faced criticism in 2016 for her paid speeches to investment bank Goldman Sachs.
Called "cashing in" by military officers, transitioning from capped government salaries to defense industry, private consulting for global risk management, or work with venture capital brings in lavish paydays. For retired generals, the invasion is swift. The recently retired chief of space operations for the Space Force, Gen. John W. "Jay" Raymond, for example, has joined the board of directors for aerospace companies Impulse Space and Axiom Space, as well as becoming senior managing director for investment firm Cerberus Capital Management. Gen. James C. McConville, who served as chief of staff of the Army before retiring last year, has joined the board of directors of drone manufacturer Edge Autonomy and aerospace investment firm AE Industrial Partners, as an operating partner.
Milley’s speaker’s agency, Harry Walker Agency is touting the retired general, who crossed swords with former President Donald Trump and continues to be a polarizing figure, for his insights on leadership and international conflicts. "His perspective is invaluable for audiences looking to understand the impact of current conflicts and managing risks on boards of directors and leadership teams who are responsible for making strategic decisions and identifying vulnerabilities," the website says.
| Those insights can be a diminishing asset — the longer one is away, the less current, and therefore valuable, the specifics of one’s field. But general principles never lose their usefulness. |
According to the speaker’s agency, Milley recently participated in a Q&A at a gathering of 160 CEOs organized by investment bank Moelis & Company, where he provided his "insider’s perspective on world affairs."
| This really smacks of “Know your place, peasant!” Why should he not get paid by private parties to share his accumulated knowledge and insights after the Army no longer has any use for him? Throughout his career, his peers in private industry made orders of magnitude more than he did, and no matter how much he might earn now he’ll never catch up. But if they are willing to share a small portion of their wealth to gain some of the insights the Army no longer wants, who is harmed? |
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