Bill and Hillary Revisited
Remember the Monica Lewinsky affair of the mid-1990's? People said Bill didn't love Hillary, it was a business partnership. That may be, but he's sure defending her like nobody's business these days, isn't he? I take it as a sign there's some real affection there.
Supreme Court Says No to Former Enron Employees
The same people who brought you the concept of "emminent domain" -- your home doesn't belong to you if a developer or city government wants it -- have struck again. The Supreme Court has refused to hear the case of former Enron employees against Wall Street investment companies.
That suit was politically sensitive for the Bush administration because of its potential to affect the Enron case. The administration sided with the business community against investors, despite the recommendation of the Securities and Exchange Commission to side with the investors.
-- Full story on USA Today.com
When government does favors for big business, the benefits trickle down to all of us.
Countrywide Execs Rewarded for Failure
Countrywide Home Loans was worth $24 billion last year, but was sold for $4 billion this year after its stock crashed in the sub prime loan implosion. Boy, those executives must be in the unemployment line, right?! Not!
Countrywide Financial Corp. has sweetened annual bonus awards for a handful of its top executives as an incentive for them to remain with the mortgage lender...
-- Full story on CNN.com
The bonuses range from $1.4 million to just over $2 million. This is for staying with the company just through March of this year. Not bad for three months' work, huh?
Attention, big corporations: if you would like to pay someone millions to help you lose billions, I would like to apply. I can start two weeks from Monday.
Downsizing Employees? Yahoo!
Yahoo! is planning to downsize some of its 14,000 employees. They say the company has been struggling ever since the dotcom bubble burst in 2000.
I never understand the claim that the dotcom bubble burst. I'm on the Internet right now! I've bought lots of CD's off of Amazon.com over the past couple of years. MySpace has users in the nine-figure range. Funny the radio and record businesses say the Internet has destroyed their profitability, and now with YouTube.com its going after television, too. Yet the Internet is a failure? It doesn't add up.
