The average managing director at an investment bank, a title typically earned after eight years on the job, will receive a bonus of $625,000. That's down from nearly $1.1 million last year.
Even a bond trader just out of business school could see his or her bank account enriched by as much as $170,000 this Christmas. "The firms have had an extremely difficult year," says Joan Zimmerman, a Wall Street career coach. "But they can't afford to lose talent either."
Yeah, the 700 billion dollar bailout just wasn't enough, these poor guys and gals will suffer if we don't do something. Maybe we can skip lunches and send them more. Come on $625,000 for a bonus, just too painfully low, they may have to give something up like maybe a golden faucet or a European trip.
Let's all get together and try to send them more, we can do without lunches for a while and we can give up on buying a winter coat this year. We could forgo doing Christmas this year and tell the kiddies that Santa had to make the bonuses bigger for the poor, poor Wall Street people.
Oh, I almost forgot, many of us are already doing that. Many are "robbing peter to pay Paul". We are counting pennies not THOUSAND dollar bills.
This is Robin Hood in reverse, rob from the poor and middle class and give to the fat cats.
But you don't care, Right?
So here I am "STUCK IN THE MIDDLE WITH YOU".
Friday, October 31, 2008
Friday, October 17, 2008
Made in America
When was the time you bought an item that was "made in America"? Yesterday? Last week? A month ago? A year? More?
I remember almost everything I purchased was "made in America", good quality, reasonably priced goods from textiles to tools. Jeans "made in America" were a prize for the European crowds.
If you want to know why we are in the financial crisis we are in, do not be short sighted and look only into the near past but take it back to when the textile industry moved offshore so you could purchase cheaper shirts, ties, skirts, blouses, dresses, pants,etc. Levi Jeans were the last to leave the USA as a manufacturing home. Then the small appliances were taken out, you know, irons toasters, waffle iron, microwaves, coffee makers and such. Next the larger appliances, TVs, radios, refrigerators, stoves, etc. Now the automobiles and trucks.
Our trade deficit is creeping higher and higher each day, as we have no goods to sell outside our borders and we are importing almost everything we use, including defense.
"Thousands of U.S. layoffs occur every week. You only have to look at AmericanEconomicAlert.org's news section to see the number of US jobs that are being cut across a wide range of industries. A high percentage of these layoffs are as a direct result of competition from foreign companies. Eventually, as more and more money leaves the U.S., our businesses will be powerless to prevent further such activity." http://www.americaneconomicalert.org/ticker_home.asp
We, the citizens of the United States cannot continue to maintain a Representative Republic if we no longer have a manufacturing base. We cannot maintain a Representative Republic without a middle class. We are not nor have ever been a democracy. Republic is what we are and will remain so, I hope.
So here I am "STUCK IN THE MIDDLE WITH YOU".
I remember almost everything I purchased was "made in America", good quality, reasonably priced goods from textiles to tools. Jeans "made in America" were a prize for the European crowds.
If you want to know why we are in the financial crisis we are in, do not be short sighted and look only into the near past but take it back to when the textile industry moved offshore so you could purchase cheaper shirts, ties, skirts, blouses, dresses, pants,etc. Levi Jeans were the last to leave the USA as a manufacturing home. Then the small appliances were taken out, you know, irons toasters, waffle iron, microwaves, coffee makers and such. Next the larger appliances, TVs, radios, refrigerators, stoves, etc. Now the automobiles and trucks.
Our trade deficit is creeping higher and higher each day, as we have no goods to sell outside our borders and we are importing almost everything we use, including defense.
"Thousands of U.S. layoffs occur every week. You only have to look at AmericanEconomicAlert.org's news section to see the number of US jobs that are being cut across a wide range of industries. A high percentage of these layoffs are as a direct result of competition from foreign companies. Eventually, as more and more money leaves the U.S., our businesses will be powerless to prevent further such activity." http://www.americaneconomicalert.org/ticker_home.asp
We, the citizens of the United States cannot continue to maintain a Representative Republic if we no longer have a manufacturing base. We cannot maintain a Representative Republic without a middle class. We are not nor have ever been a democracy. Republic is what we are and will remain so, I hope.
So here I am "STUCK IN THE MIDDLE WITH YOU".
Thursday, October 16, 2008
Dumb Struck
Since the proposal of the "Wall Street Bailout", I have been absolutely dumb struck. I have been unable to to put a sentence together which did not contain multiple four letter words.
When this "idea" was first proposed I spent my "free time" calling the House and Senate, writing emails, screaming at the TV, shooting rubber bands at the TV and crying myself to sleep. Just to wake up the next morning to do the same thing.
Yes, ladies and gentleman, once again we, the taxpayers, get the shaft and no f'ing kiss.
The big kahunas from Wall Street get to walk away with billions of dollars in bonuses, while the little guy pays the bill.
I keep hearing that General Motors is having financial problems. The hard working people in the manufacturing plants are asking too much compensation and health care costs are too high, but the CEO, G R Wagoner's monthly salary was $183,333.32 per month in 2003, according to the http://www.secinfo.com/dsvR3.v1fh.a.htm website. The average hourly wage for the guys and gals on the line is $28 per hour (according to Dean Baker is co-director of the Center for Economic and Policy Research in Washington, DC, multiply that by forty hours, multiply that by 52 weeks in a year, divide by 12 months and you get $4,853.33 per month. Now I'm not a math whiz, but Wagoner is making 97% more per month than the factory worker. If he cuts his salary, GM may not have to shut down.
Similar story of United Air Lines, they negotiated with the pilot's union, the baggage handler's union and the attendant's union to cut their wages. When the unions agreed to a pay cut, the top executives received an increase in their salaries. Only the people at the bottom have to cut, while those at the top get more.
Money is not the route to all evil, greed is. When greed takes control, fairness and equality are thrown out the window.
So here I am "STUCK IN THE MIDDLE WITH YOU".
When this "idea" was first proposed I spent my "free time" calling the House and Senate, writing emails, screaming at the TV, shooting rubber bands at the TV and crying myself to sleep. Just to wake up the next morning to do the same thing.
Yes, ladies and gentleman, once again we, the taxpayers, get the shaft and no f'ing kiss.
The big kahunas from Wall Street get to walk away with billions of dollars in bonuses, while the little guy pays the bill.
I keep hearing that General Motors is having financial problems. The hard working people in the manufacturing plants are asking too much compensation and health care costs are too high, but the CEO, G R Wagoner's monthly salary was $183,333.32 per month in 2003, according to the http://www.secinfo.com/dsvR3.v1fh.a.htm website. The average hourly wage for the guys and gals on the line is $28 per hour (according to Dean Baker is co-director of the Center for Economic and Policy Research in Washington, DC, multiply that by forty hours, multiply that by 52 weeks in a year, divide by 12 months and you get $4,853.33 per month. Now I'm not a math whiz, but Wagoner is making 97% more per month than the factory worker. If he cuts his salary, GM may not have to shut down.
Similar story of United Air Lines, they negotiated with the pilot's union, the baggage handler's union and the attendant's union to cut their wages. When the unions agreed to a pay cut, the top executives received an increase in their salaries. Only the people at the bottom have to cut, while those at the top get more.
Money is not the route to all evil, greed is. When greed takes control, fairness and equality are thrown out the window.
So here I am "STUCK IN THE MIDDLE WITH YOU".
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