Got yours yet?
The more I think about the bailouts, the angrier I get. Wake up world. They are not going to work. The companies are going keep on doing what they have been doing all along. Oh, they will try to make changes, and it might look like its working… for a while. But they will settle right back in to their comfortable old ruts.
Let them fail. They will either emerge from restructuring a stronger, leaner version of the original, our they will totally collapse and disappear. If the latter, so be it; it was going to eventually happen anyway, no matter how much cash you throw at them. If the ship is sinking, putting gold in the captain’s pocket is not going to help! There is no excuse for the grossly over paid executives, and all the glitter encrusted perks that they receive. Hey, I’m all for the the top dogs making more money than the little people at the bottom. That’s the way capitalism and the free enterprise system should work. If you are the founder or owner of the company, you treat your employees well, you pay decent salaries, you pay your dues and you do it all with your integrity intact, you should take home all you care to make. But if you are just a hired gun, Mr Executive, your salary should not be more than 20% higher than the highest paid of your direct reports. Perks? Bonuses? Sure, no problem, if your wildly successful at what you do for the corporation. Perks and bonuses should never be included in hiring contracts or golden parachute exit contracts. You have to EARN them!
If you must bailout a mismanaged company, make sure they are restructured first. Find yourself a single parent that has successfully raised a house full of kids, working on the lowest rungs of society, or a successful small business owner that has pulled him or her self up by their own bootstraps. Put them in charge of restructuring. You will see new life spring from within the dead or dieing corporate landscape. You don’t need ivy league educations to make ethical and intelligent decisions. We need a revolution in the business world.
Wake up Washington! Do any of you know just how much 700 billion dollars is. I read recently that it could be divided equally amoung all the taxpayers in this great country, and we would each get something like $200,000. Specify that it can only be spent on American made products or services. Talk about stimulating the United States’ economy!!!
Do you really want to bail out the auto industry? Here is the best idea I have heard. Give each licensed driver a voucher for a new car from any one of the big three. It can only be used on a fuel efficient model. It can only be used at your local dealerships. It would include every charge, including prepaying the property taxes for the first two years and a full five year warranty. Everyone wins. The consumer, the local governments, the local economy, the dealerships, the distributors, and ultimately the big three.
Want to see things change? Contact your representatives and let them know how you feel and that you won’t stand for waste and pork anymore. Hey, maybe we also need a restructuring in our government, but we’ll save that for another post on another day!
Photo above courtesy of http://www.flickr.com/people/willposh/.