Hmmm. Even worse than newspapers

I hope the Wilpons cashed that check.

 

Jeffy: "But daddy I swear I was going to cash it today! It's in my glove compartment!"

 

A business that does business by paying its customers 3% interest and charging them 6%-20% should never lose money.

Unless it has some really stupid and/or greedy people.

 

Nice to see Bob Jelenic and Dean Singleton have company in the scumbag category. That and mismanaging cash cows.

 

Wah, wah, wah. It's not like those people are working in the coal mines. There are starving people in Africa, I'm sure they'd love to work at Citigroup.

 

Morgan Stanley just laid off 4,000 workers.

 

I think the demise of the American economy is teaching us that there are some really stupid and/or greedy people running once-thriving companies.

 

And the stock market is up on the news that Citi only lost 5.1 Billion.

 

We naturally obsess about newspaper cutbacks, but it's everywhere and touching everybody. Bad economy, and an absolute ruthlessness when trying to fix the bottom line.

 

Problem is, even in a good economy, companies were slashing jobs or sending them overseas. The only jobs left are in the service industry. I don't mind companies making a profit, but when jobs are lost, people don't have money to fuel the economy. Instead, you get these companies taking their Bush tax cuts and putting it in their execs' pocket (CEO compensation is 300 percent the average worker today compared to 40 percent 30 years ago.)

 

We've all had experiences, I'm sure, where banks have treated us poorly, so yes, it's hard to feel sympathetic when they're in dire straits. But it's relevent to point out that Citi is a pretty diverse group of companies, and not all of the jobs are cushy or well-paid.