The New York Times reports that the recent re-opening of the Statue of Liberty, closed since 9/11, was delayed so that the non-profit managing the project could raise more money and continue to pay its CEO a nearly $350K annual salary.

Thanks to Nathan Newman for the pointer, in an entry entitled Ineeffiency of Private Charity. He acknowledges that public bureaucracies can also be criminally inefficient, but cites this and the Halliburton debacle as evidence that the conservative preference for privatization is not the guaranteed route to efficiency that it is usually claimed to be.