Reading Again

Getting ready for vacation, packing, making lists of the things I don't want to forget, I suddenly realized that I was forgetting something really important for our trip. I was forgetting a book. I love to have something really good to read, something that will make the miles just fade away. So while we were at church for one thing or another, we checked out the church library. The kids love it because it is cozy and comfortable. I love it because I know that there is nothing inappropriate for my kids there. So while I was looking around, I saw a book that I had seen a million times. And finally I picked it up.

I am reading "Pigs at the Trough" by Arianna Huffington. I usually am not an Arianna Huffington fan, and usually disagree with her take on politics and the world in general. And I believe that that was one reason I avoided picking up the book for so long. But now that I have, it is almost impossible to put down. Which means I will probably have it read before we leave in the morning.

It is a non-fiction, also not really my preferred style of reading. It is the story of corporate greed in America. It is a story of how CEO's that have no idea how to run a company, and have in fact run several in to the ground, are continually rehired by company after company after company, with huge compensation packages, and run those into the ground as well. Not only do they run them into the ground, laying off thousands of workers in the process and contributng to the downfall of our economy, but they are very well paid, and keep most, if not all of their benefits.

And when I say benefits, I mean serious benefits. Some CEOs are guaranteed life time insurance, use of company jets, bonuses, stock options, and a salary that is equivalent of their working salary. And those salaries have grown over well over 100% between 1990 and today. How many of our salaries have grown 10%? Not many that I know.

And it's not like they really do much to earn that type of compensation. They do a horrible job (Enron ring a bell anybody?) and are still expecting compensation. If we do a horrible job, we get the boot and no benefits, sometimes not even unemployment. How does this happen? It's all tied into Wall Street and politicians and being friends with the compensation committee.

And not to sound like I am on the side of the CEO, because if you know me you know I am not, but somebody signed at these companies and said this was ok. Somebody OKed these deals and is allowing this to happen. Whether it is the compensation committee or the board or the stockholders, somebody said it was alright to pay these guys. I want to be friends with them.

We all know what is going on with the economy today. We know that the big automotive companies are asking for a bailout. And the ripple effect of the companies shutting their doors and closing down are huge and far reaching. Millions of people that are not employed by these companies, but depend on their workers to make a living are going to go down a rough, ugly road. And who knows where that collapse will lead. But again, why did they show up in personal jets?

One comment was, "I am very busy and need to be places." Really? That's your excuse. Again a question, "Why don't you cut your salaries to $1 a year." Again, a response, "I think I'm good where I'm at." No kidding. I would be great pulling in an eight figure salary as well, maybe nine with benefits. Meanwhile, to cut costs, instead of looking in the mirror and starting at the top, they continue to close factories and lay people off. How do you earn a salary from a company that doesn't exist?

And I do not know anyone that wanted to bail out the banks. I understand that the implications are far reaching and could cause our financial system to be owned by foreign investors, but did the current administration think about that when they put us into such incredible debt? When we have to borrow money to fund our government or we collapse why is that a good thing?

And then the banks still want to pay out bonuses to their top executives, who once again under performed. Hello, your bank collapsed. What was your first clue that those bonuses were undeserved? If you are at the helm and your bank loses so much money they need a bailout from the politicians that are apparently in their back pocket, you still get a bonus? I want that job. And how fair is that to us, the little people, that have to pay for that? Because you know that when all is said and done, the CEOs and executives at those banks don't pay taxes to pay for anything.

Yes, I know. The top so many percent pay the most taxes. Sure they do, when they aren't hiding their money in false shipments of art, setting up off shore accounts, and claiming citizenship and corporate head quarters in places like Bermuda, which the IRS says is legal, yet denies this country a much needed inflow of $$$$. Bullshit.

So, needless to say, this book has me pretty wired. I am so angry that more people aren't angry. I am angry that more people either aren't aware of the situation or don't care. You should care. This is our economy and our country that is being shoved down the tubes by the one thing that all people feel at one time or another-GREED. When is enough, well, enough?

Think about the things that you are greedy about. Money, time, food, video games, whatever. I feel greedy about certain things. I am not very good at sharing chocolate. Or time alone with my husband and my family. And I am greedy about so many other things. But I don't earn an eight figure salary that I don't work for, or destroy a company for. That doesn't make it different. It just means the finger of blame is pointing somewhere else.

So I would recommend that you read "The Pigs at the Trough" if you want to know more about corporate greed and the things that are causing our great country to stumble on the path to greatness. Read it with an open mind. And if you get fired up like I did, let me know. And let others know, specially our elected representatives.