Ivor O’Connor

April 22, 2009

New Wave Of Bankruptcy?

Filed under: Uncategorized — ioconnor @ 5:18 pm

Why are the big American motor companies and banks giving back their bailout loans? The news reports keep saying it’s because they have provisions limiting the pay they can give themselves. So do they or don’t they need bailout money? If they don’t then they’ve been lying to us and we’ve been giving them money as if all we had to do was print it off. If they are not lying then they are going to go bankrupt. Their thinking must be along the lines of:

If we accept this bailout money we will only make X. But if we don’t accept and go bankrupt we’ll get 100X with our golden parachutes and such. So screw the bailout money!

Can they really be this greedy that they don’t care about the tens of thousands of employees they’ll be destroying. And the hundreds of thousands if not tens of millions of people who are effected financially by these people.

Either way the future of public companies should be regulated. Perhaps there should be a law stating they can not receive more than double the salary of the avearage employee’s salary. Perhaps also there should be laws to prevent public companies from then outsourcing jobs so they couldn’t claim there were only 10 employees and the average pay for those 10 employees were all 10 million dollars. I’m sure they’d try to hire other firms to do all the work and play as if they couldn’t financially do that work themselves. And perhaps that would be true. So in that case then they’d have to hire firms where the average employees pay is known, along with how many employees there are, so they could be figured into the equation.

Why do our business schools turn out such morally deprived individuals?

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