Monday, November 17, 2008

Effective measures

I just heard on the radio that Citigroup is cutting thousands of jobs and is taking other steps to cut costs to help it survive.

My question: How much are they cutting the pay and bonuses of the top managers? I find it completely unacceptable that top managers routinely talk about "the good of the company" but aren't willing to forgo their bonuses or seven-figure salaries to make things better. They're perfectly willing to cut other people's pay, but heaven forbid they should not get a bonus!

And don't even get me started on using bailout money to give bonuses so that people won't leave and go to other companies.

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