Feb 27, 2010

Were you bailed out?

I have been asked by quite a few people, why I haven't written anything about Toyota's latest fiasco. I am not quite a big fan of beating a dead animal. The media seems to have punished it enough. It has become the butt of all jokes. Though they have a resolution for the run-away cars, they don't even know if that would fix it. Some are saying its because of the accelerator pedal itself. Some say its because of the floor mat. And some say its just that the Toyota's want to commit suicide with the owners in them. For one simple reason: It's a Toyota. Let me stop here, or else just like Toyota I can't stop either.

It pours when it rains. This saying seems quite apt for Toyota at this point. They are recalling almost everything made by them. Even home made cookies. And, all this during a recession. Though the Government says we are out of it. They never admitted we were in it, in the first place. This recession has made people question everything. The most criticized are the one's working for AIG and Goldman Sachs. People would rather say they work at a brothel than admit working for one of the bailed out companies.

Yes, they were bailed out by every one's tax money. That doesn't mean I can go to their employees and ask them if they got any bonus or tell them to test drive a Toyota. People are forgetting the fact that most of the companies paid the money back. With interest. So technically, the bust companies did help the government make some dough out of your money. I have read about AIG workers being looked down upon, as if those people were the sole reason for the economic wind down. Its the Governments fault for not keeping a check when the property prices were accelerating even faster a Toyota. What the banks did were not right. It wasn't wrong either. Now that everyone is burnt, some rules have been set. And Obama would make sure that "some rules", would become "a whole lot more rules".

Different jobs have different pay structures. I for instance, am offered 25 cents for working 37.5 hours per week. Though I work twice the number of hours, that 25 cents doesn't change. A pool cleaner, who cleans pools and nails wives makes money based on number of hours he works. Extra cleaning or nailing, will get him more money. Likewise CEO's and finance people's pay are based on their performance. Steve Job's take home pay is $1, but he gets paid in other ways, like stocks and bonuses. So these guys bonuses are dependent on their performances. I would be very pissed if Obama put a stop payment on my 25 cent check. What I am trying to say here is, people can't questions a company's bonus for their employees. It is based on their performance for that year. And if they paid back the bail-out money, they did a bloody good job. Thus deserve it.

Some people are taking advantage of this bail out and questioning every penny that goes out of a company's account. Choosing to ignore the one's that are coming in. Just like GM is doing right now with Toyota. They advertise claiming their car's accelerator's don't get stuck. GM's car's don't even damn start to begin with. Now the roads will be filled with speeding Toyota's crashing into broken down GM cars. GM is totally messed up. They collected car companies like they were stamps and couldn't get their act right. They are now blaming it on the recession and trying to shut down the iconic companies. Thank god Saab was saved. Its now possible to sell my car. Hopefully someone buys Hummer.

I read this article a while back where a emergency crew were trying to locate a mountain climber. He was stuck in some stupid mountain. People were starting to question this rescue operation as it was proving to be expensive and eating into the city's funds. These people are the jobless kinds, quite similar to the Shiv Sena's group. Since when was dollar more valuable than life? I think these people should be hired by my company. They wouldn't have the time to even think about anything else. Again to reiterate. Just because people pay property tax, you can't ask a city worker to be your slave. Its people's responsibility to pay tax. And it ends right there. Its not a FedEx package, to track where its going.

Obama is also planning to charge the bailed out companies a hefty fine for screwing up. Obama does make it feel like you never graduated out of school. From now on companies will think twice before getting greedy. Although this might create another problem. This jobless people might want a "cut" from the profit the Government made.

1 comment:

Rebel2008 said...

I loved your post, but I do disagree with a certain portion of it. The companies that Govt bailed out - they paid back, but it was just due dilligence, they did nothing out of the blue.
It is the same way like I have Mortgage loan and I have to pay it back, if I pay it, I am not doing any kind of obligation here.....

When these companies paid the bail money back to the Govt with interest - they did a good job, but it was not the CEO alone who did this good job, it was much of a collective effort, people like you and me who sweat behind the desks....and much more who make this job done in the most efficient manner, then why is the CEO only person to reap the fruits of this collective effort????

I don't say that its wrong that he gets paid bonus, yes he is the captain of the ship, but the crew should also get good amounts of bonus - then only we would truly justify the system.....

Thats just my POV.....