Comments on: Layoff City http://www.ritholtz.com/blog/2009/01/layoff-city/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 20 Mar 2010 02:16:04 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Whammer http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141878 Whammer Tue, 27 Jan 2009 05:42:29 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141878 AGG, I disagree with you a little about Gates, and other entrepreneur types. To me, it is just fine that entrepreneurs can make a bunch of money -- after all, they make their money by enriching all their shareholders. What really chaps me is the CEOs of long-standing public companies getting huge $$. Is there anyone in the world who could not run Exxon? I mean that seriously -- what exactly does the CEO of Exxon or any big oil company do that merits them making hundreds of millions of dollars? The biggest thing that those people can do is not actively screw things up. Jack Welch, Lee Iacocca, and a few others helped start this cult of the CEO. How many CEOs, who are not founders of their companies, really truly deserve to make dynasty-class money in what are essentially caretaker roles? Not many, I'd argue. AGG, I disagree with you a little about Gates, and other entrepreneur types. To me, it is just fine that entrepreneurs can make a bunch of money — after all, they make their money by enriching all their shareholders.

What really chaps me is the CEOs of long-standing public companies getting huge $$. Is there anyone in the world who could not run Exxon? I mean that seriously — what exactly does the CEO of Exxon or any big oil company do that merits them making hundreds of millions of dollars? The biggest thing that those people can do is not actively screw things up.

Jack Welch, Lee Iacocca, and a few others helped start this cult of the CEO. How many CEOs, who are not founders of their companies, really truly deserve to make dynasty-class money in what are essentially caretaker roles?

Not many, I’d argue.

]]> By: dunnage http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141873 dunnage Tue, 27 Jan 2009 05:06:12 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141873 Well, I don't know why a lot of these companies don't simply do what congress, pundits and the public wanted GM to do. You know. 1. Go Bankrupt -- hell, nowadays they can just roll along while 2. Dumping Pensions -- damn workers lived too long and 3. Canceling Labor Contracts -- what is the minimum wage for any way, use it. $. Coming out Party = Big Bonus time for you know who. Damn now, that's capitalism. Now what kind of unemployment are we talking about? Ivy Liberals like Krugman understand there is unemployment, and there is something called "excessive unemployment". Men like Krugman understand that employment is a living thing -- they are just like MDs -- having killed employment many times, they have discovered a "natural" rate. Because men like Krugman only kill employment for the workers own good -- everybody knows the poor do just terrible during inflation - they are liberals. So what is the difference: Regular old fashioned fascist unemployment is controlled so nobody notices.I forgot about the unemployed -- probably either overpaid and need to be displaced by cheap labor or simply drug addicts. And Excessive Unemployment: oh woe is us, occurs without divine guidance . You check with MIT, U of Chicago, or Harvard and they will tell you it just has to stop. Lets put our heads together, give ourselves some money and whine about the endowment. The thrill --- solitary, solidarity ( sorry ) -- when there is no reason to talk to your boss, the high command, head man, VP fast track cause the odds are 50/50 he/she won't be in tomorrow. Do not fear these times. Moments like this are to be treasured . Well, I don’t know why a lot of these companies don’t simply do what congress, pundits and the public wanted GM to do. You know.

1. Go Bankrupt — hell, nowadays they can just roll along while
2. Dumping Pensions — damn workers lived too long and
3. Canceling Labor Contracts — what is the minimum wage for any way, use it.
$. Coming out Party = Big Bonus time for you know who.

Damn now, that’s capitalism.

Now what kind of unemployment are we talking about? Ivy Liberals like Krugman understand there is unemployment, and there is something called “excessive unemployment”. Men like Krugman understand that employment is a living thing — they are just like MDs — having killed employment many times, they have discovered a “natural” rate. Because men like Krugman only kill employment for the workers own good — everybody knows the poor do just terrible during inflation – they are liberals.

So what is the difference: Regular old fashioned fascist unemployment is controlled so nobody notices.I forgot about the unemployed — probably either overpaid and need to be displaced by cheap labor or simply drug addicts. And Excessive Unemployment: oh woe is us, occurs without divine guidance . You check with MIT, U of Chicago, or Harvard and they will tell you it just has to stop. Lets put our heads together, give ourselves some money and whine about the endowment.

The thrill — solitary, solidarity ( sorry ) — when there is no reason to talk to your boss, the high command, head man, VP fast track cause the odds are 50/50 he/she won’t be in tomorrow. Do not fear these times. Moments like this are to be treasured .

]]> By: Mike in Nola http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141870 Mike in Nola Tue, 27 Jan 2009 04:38:36 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141870 Microsoft wants more H1B workers while laying people off? Gotta like Grassley: http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=18922 Microsoft wants more H1B workers while laying people off? Gotta like Grassley:

http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=18922

]]> By: going broke http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141838 going broke Tue, 27 Jan 2009 01:54:42 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141838 I'd like to add to the list, 6 layoffs from just one region from the company I work for that wasn't in any newsprint. OT: AGG @ 3:34pm, agree wholeheartedly. Also, we need to start enforcing (or change) our laws, particularly the CEO's (Cheif Embezzlement Officers) and CFO's (Corporate Fraud Officers) of the larger company's that deliberately steal from the shareholders. How can someone get 10 years for writing a $300 stolen check while these bastards steal millions, billions, get out on bond and don't serve time, or very little time. They've ruined many, many lives! Guess that gets us back to the money circle, doesn't it. I’d like to add to the list, 6 layoffs from just one region from the company I work for that wasn’t in any newsprint.

OT: AGG @ 3:34pm, agree wholeheartedly.

Also, we need to start enforcing (or change) our laws, particularly the CEO’s (Cheif Embezzlement Officers) and CFO’s (Corporate Fraud Officers) of the larger company’s that deliberately steal from the shareholders. How can someone get 10 years for writing a $300 stolen check while these bastards steal millions, billions, get out on bond and don’t serve time, or very little time. They’ve ruined many, many lives! Guess that gets us back to the money circle, doesn’t it.

]]> By: AGG http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141828 AGG Tue, 27 Jan 2009 00:04:35 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141828 franklin411, I don't have the link but Buzzflash has an article on 25 asswholes (individuals) at the center of the meltdown. If you want to know why our wages were kept down, there is a good place to start. They kept us salivating about how great it is for Bill Gates to make more money because that is so great for the rest of us. HUH? I've got news: When Bill Gates and Warren Buffet make more, it's because you and I are making less! franklin411,
I don’t have the link but Buzzflash has an article on 25 asswholes (individuals) at the center of the meltdown. If you want to know why our wages were kept down, there is a good place to start. They kept us salivating about how great it is for Bill Gates to make more money because that is so great for the rest of us. HUH? I’ve got news: When Bill Gates and Warren Buffet make more, it’s because you and I are making less!

]]> By: AGG http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141825 AGG Mon, 26 Jan 2009 23:56:42 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141825 franklin411, What you say has merit. You have been cheated. The big items like health care need to be socialized so we all have one less large expense to deal with. This is the number one cause of bankruptcy in the USA. Next, we need an attitude shift in city and county zoning restrictions. This hollywood approach that dominates zoning now is pleasing to architects but unrealistic for hard times. If a guy wants to repair stuff in his garage, let him. If someone wants to surround there house with tomato plants, let him. The bottom line should be healthy frugality. Nobody wants suburbs full of pigs and chickens but plant life should be left to the homeowner. We need to get involved with the town select boards and erase a lot of zoning crap that is there simply to be applied when they want to make life hard for somebody like the old blue laws. What happen if I want a vertical axis wind mill 45 feet tall in an R-1 area? franklin411,
What you say has merit. You have been cheated. The big items like health care need to be socialized so we all have one less large expense to deal with. This is the number one cause of bankruptcy in the USA.
Next, we need an attitude shift in city and county zoning restrictions. This hollywood approach that dominates zoning now is pleasing to architects but unrealistic for hard times. If a guy wants to repair stuff in his garage, let him. If someone wants to surround there house with tomato plants, let him. The bottom line should be healthy frugality. Nobody wants suburbs full of pigs and chickens but plant life should be left to the homeowner. We need to get involved with the town select boards and erase a lot of zoning crap that is there simply to be applied when they want to make life hard for somebody like the old blue laws. What happen if I want a vertical axis wind mill 45 feet tall in an R-1 area?

]]> By: dps http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141824 dps Mon, 26 Jan 2009 23:56:07 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141824 The sad part in all this is that all these unemployed workers are soon to be part of a political game. "We need deeper tax cuts so that the investor class will be encouraged to hire more" or the soon to be heard "unemployment benefits to the lazy is a redistribution of wealth and leads to socialism" or the oft quoted by the self-righteous " I worked two jobs and mowed lawns (dug ditches?) on the weekends - I would never take a handout - I've got my pride". My favorite is blaming everything on welfare moms. A close second is blaming the McDonald workers for conning the poor MBA bankers into $500,000 loans, thus ruining the economy. The sad part in all this is that all these unemployed workers are soon to be part of a political game. “We need deeper tax cuts so that the investor class will be encouraged to hire more” or the soon to be heard “unemployment benefits to the lazy is a redistribution of wealth and leads to socialism” or the oft quoted by the self-righteous ” I worked two jobs and mowed lawns (dug ditches?) on the weekends – I would never take a handout – I’ve got my pride”. My favorite is blaming everything on welfare moms. A close second is blaming the McDonald workers for conning the poor MBA bankers into $500,000 loans, thus ruining the economy.

]]> By: AGG http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141822 AGG Mon, 26 Jan 2009 23:46:03 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141822 Thission, " The only way to escape is to join the ownership society, at any cost. And the only way an average person can do that is by living well below their income, which isn’t much fun. " You are right. I made that decision several years ago. After a while, you realize that the hot shot beer bashes or bar scenes and spendy lifestyle restaurant meetings is really a lot of empty posturing. Real life with neighbors and house and yard duties combined with vigilant internet interactivity is cheap and it helps our country. Yeah, I'd like to take a cruise every now and then but it's just not that important to me any more. Thission,
” The only way to escape is to join the ownership society, at any cost. And the only way an average person can do that is by living well below their income, which isn’t much fun. ”

You are right. I made that decision several years ago. After a while, you realize that the hot shot beer bashes or bar scenes and spendy lifestyle restaurant meetings is really a lot of empty posturing. Real life with neighbors and house and yard duties combined with vigilant internet interactivity is cheap and it helps our country. Yeah, I’d like to take a cruise every now and then but it’s just not that important to me any more.

]]> By: Jojo99 http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141818 Jojo99 Mon, 26 Jan 2009 23:15:32 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141818 A few other layoff links: http://layoffblog.com/ http://layofftracker.blogspot.com/ http://www.techcrunch.com/layoffs/ A few other layoff links:

http://layoffblog.com/
http://layofftracker.blogspot.com/
http://www.techcrunch.com/layoffs/

]]> By: franklin411 http://www.ritholtz.com/blog/2009/01/layoff-city/comment-page-1/#comment-141816 franklin411 Mon, 26 Jan 2009 23:12:36 +0000 http://www.ritholtz.com/blog/?p=17219#comment-141816 Thisson, it's kind of hard to join the "ownership society" when our wages have actually gone down over the last 8 years and we're the first generation to do *worse* than our parents did. Thisson, it’s kind of hard to join the “ownership society” when our wages have actually gone down over the last 8 years and we’re the first generation to do *worse* than our parents did.

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