Wednesday, February 4, 2009

Jack Welch is a tool

And I quote, "If I didn’t pay [bonuses], the people were going to go. … These people didn’t choose to cure cancer. These people didn’t choose to do public service work…These people chose to make money.” H/T to Think Progress.


Welch is speaking about President Obama's announcement that top executives at firms accepting TARP funds would have their salaries capped at $500,000.  Seems like Welch thinks that half a million freaking dollars is chicken feed. 


Yo, Jackie.  According to the US Census, the median income in our country is $52,092. Your measly $500,000 is ten times that amount.  Quit f*cking whining already.


And since these same executives have done such a stellar job of leading their companies into the shitter maybe its time for some fresh blood.  Say any one of the untold numbers of MBA holders out there. (It's untold cause I sure as hell can't find it)


I'm really tired about hearing how Wall Street has to pay these ungodly amounts of money to their executives or rick losing them.  Well, baby, I say it's time we lose 'em.  They've sure done a bang up job.  They got rich while the rest of us took the consequences for their malfeasance.  I say:


As my Dad said, "Crawl up on it and Crow"
 
  

 

8 comments:

Chris said...

You took the words right out of my mouth on this one! This is one of the "hot spots" on the political scene right now as far as I'm concerned and needs to be addressed along with other controls. If they want to go, they have my blessing....it's not like they are the best and they can't be replaced! I'm sure there are some finance minded people out there with integrity that wouldn't mind making a half mil!!!!!!!!!!!

Sidhe said...

True Blue, you are absolutely right! Jack Welch is a tool and, apparently, a dull one at that.

"If I didn’t pay [bonuses], the people were going to go. … These people didn’t choose to cure cancer. These people didn’t choose to do public service work…These people chose to make money.”

And guess what, I know a hundred people who will gladly do their jobs, for a lot less, and probably do a better job...all the while thankful that they simply even have a job.

cmacivor said...

That was perfect True blue. i loved it. They are so out of touch that I don't think they realize how that hits us.

His words are just sickening. They didn't do their jobs and they are obsessing about bonuses paid for by the taxpayers. They are out of it.

skyewriter said...

Ugh, when are these people just going to go away?

Don't they get it that their time is over?

Monica Roberts said...

TB Texan,
I'm shaking my head on this one. Japanese CEO's get by on about that amount or less and their companies are much better run.

Sidhe said...

Even Donald Trump is in favor...http://www.cnn.com/2009/LIVING/personal/02/05/lkl.donald.trump/index.html

Sprite's Keeper said...

Awesome rant!

Bex said...

so, they are down to a mere $500,00 per year. chicken feed!

it probably costs more than that for upkeep on all the houses and cars, boats, planes, etc. how will they sell off that crap in this economy? anyone know a middle eastern prince in the market for a yacht or two?