mardi, octobre 21


You know, as I contemplate the economy's spectacular implosion, I am forced to ponder wtf actually happened to all the money. Take any number of major corporations - they somehow had enough to pay execs millions of dollars in yearly salaries and then all of a sudden - nothing. Layoffs, closing plants and offices, huge packages to the same executives. Or the lightbulb factory where I used to work - I came in at a time of huge financial prosperity. Within two years, they were laying off over half the workforce (we called it Black Thursday).

Who was held accountable for the financial debacle? The CEO who presided over the fuckup is still in situ. How is this fair, when the folks who showed up for work every day and did their jobs as they were supposed to were laid off? Seems to me as though the top level execs should have been the first out the door, since their principal duties are generally comprised of keeping the company fiscally solvent, no?

Multi-billion dollar bailout packages for companies that can't run themselves effectively kinda make me nauseous, especially when it's reported that as soon as the money was received they scheduled spa vacations for their executives. How does that not make you sick? The sense of entitlement some people have astounds me. Families are losing their homes; going bankrupt due thanks to medical expenses; barely able to make ends meet and this company is spending 23K on spa treatments for its execs. They justify it by saying the retreat was required for company morale. I submit that a steak dinner and a pep talk would have sufficed, considering they were on the brink of bankruptcy.