Tuesday, March 3, 2009
Alright, I've pent it up long enough. This is ridiculous and obviously NOT WORKING! We knew it would take a long time to recover economically, but now we are seeing an even larger decline. Some good this bailout is doing. The only positive thing coming from sinking the Fed's (and therefore yours and my) money into dying organization is the fact that it is saving many jobs, at least temporarily. But shouldn't those companies paying their executives millions of dollars and taking the entire board of directors to Hawaii every quarter and making risky business moves pay for their misgivings? Isn't the public punishing them for their unethical practices by saying "No, I will not buy your stuff/support you because I can't afford the extra that is tacked on to the price to pay for your Christmas bonus" or "No I will not invest in a company with unhealthy financial practices"? Isn't it the consumer's right to keep businesses honest by not patroning the ones who do not live up to our expectations? And isn't it just the way of free enterprise- you make money and thrive, or you lose money and die? That's just the way that our economy functions, so why is it suddenly such a big surprise? Maybe these corporations should have been a little (or a lot) smarter in their tactics and had a better rainy day fund and capped CEO salaries and been prepared for economic issues. We all saw it coming, didn't we? I can recall hearing doom and gloom over the supposed economic downturn that we were naturally overdo for. Unfortunately, no one listened. We all bought things we couldn't afford and now we're kicking ourselves. Honestly, what did we expect? I am disappointed in our lack of preparation and disappointed in the fact that all our leaders can think of to do is to throw money at dying, unwise corporations. I suggest we instead fund new vehicles of employment that are organized with smart economic and management tactics already in place, that way we won't have to waste time and money undoing the bad that has been done and can get right to work on what we have now learned needs to be in place for an organization to be successful and ethical in our current climate.
PS- just because a few American car companies go under DOES NOT mean that it would be the end of the world! I'm pretty sure most of us buy foreign cars anyway! Stop fretting!
Posted by Linds at 4:52 PM