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Forum Post: Another Sign Of Greed Whenever These Companies Get Bailouts They Lay Off 3000 People The Next Day

Posted 13 years ago on Nov. 14, 2011, 1:52 a.m. EST by eyeofthetiger (304)
This content is user submitted and not an official statement

Can we all say FOUL??

4 Comments

4 Comments


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[-] 1 points by George1234 (82) 13 years ago

And the CEO gets bonus. Can you recall this..... AKA Maurice - was the boss of AIG. He built the business into the world's biggest insurer. AIG had a vast business in credit default swaps and therefore a huge exposure to a residential mortgage crisis. When AIG's own credit-rating was cut, it faced a liquidity crisis and needed an $85bn bail out from the US government to avoid collapse and avert the crisis its collapse would have caused. It later needed many more billions from the US treasury and the Fed, but that did not stop senior AIG executives taking themselves off for a few lavish trips, including a $444,000 golf and spa retreat in California and an $86,000 hunting expedition to England. "Have you heard of anything more outrageous?" said Elijah Cummings, a Democratic congressman from Maryland. "They were getting their manicures, their facials, pedicures, massages while the American people were footing the bill."

[-] 0 points by economicallydiscardedcitizen (761) 13 years ago

Yep, and many of them pay either '0' taxes or 'negative 0' Don't believe me? check the following out, you will find many of the same names posted at this link among the list of tax dodgers from ctj.org

http://deadpeasantinsurance.com/which-employers-bought-policies-on-the-lives-of-employees/

http://www.ctj.org/corporatetaxdodgers/CorporateTaxDodgersReport.pdf

30 Corporations Paying No Total Income Tax in 2008-2010

Company ($-millions) 08-10 Profit 08-10 Tax 08-10 Rate

Pepco Holdings $ 882 $ –508 –57.6%

General Electric 10,460 –4,737 –45.3%

Paccar 365 –112 –30.5%

PG&E Corp. 4,855 –1,027 –21.2%

Computer Sciences 1,666 –305 –18.3%

NiSource 1,385 –227 –16.4%

CenterPoint Energy 1,931 –284 –14.7%

Tenet Healthcare 415 –48 –11.6%

Atmos Energy 897 –104 –11.6%

Integrys Energy Group 818 –92 –11.3%

American Electric Power 5,899 –545 –9.2%

Con-way 286 –26 –9.1%

Ryder System 627 –46 –7.3%

Baxter International 926 –66 –7.1%

Wisconsin Energy 1,725 –85 –4.9%

Duke Energy 5,475 –216 –3.9%

DuPont 2,124 –72 –3.4%

Consolidated Edison 4,263 –127 –3.0%

Verizon Communications 32,518 –951 –2.9%

Interpublic Group 571 –15 –2.6%

CMS Energy 1,292 –29 –2.2%

NextEra Energy 6,403 –139 –2.2%

Navistar International 896 –18 –2.0%

Boeing 9,735 –178 –1.8%

Wells Fargo 49,370 –681 –1.4%

El Paso 4,105 –41 –1.0%

Mattel 1,020 –9 –0.9%

Honeywell International 4,903 –34 –0.7%

DTE Energy 2,551 –17 –0.7%

Corning 1,977 –4 –0.2%

TOTAL $ 160,341 $ –10,742 –6.7%

http://www.ctj.org/corporatetaxdodgers/CorporateTaxDodgersReport.pdf

http://ctj.org/ctjinthenews/2011/11/new_york_times_biggest_public_firms_paid_little_us_tax_study_says.php

[-] 0 points by eyeofthetiger (304) 13 years ago

what's wrong with this picture?

[-] 0 points by economicallydiscardedcitizen (761) 13 years ago

Anyone working for these companies might actually be worth more dead than alive and within corporate life they are disposable like so much toilet paper! /:(