*our meaning ENG 2100 DG35 with Professor Vecchio.
I wanted to write about Angelina Jolie because she’s banging. But she was not one of our choices so I ended up writing about why the the staff members of THE WALL STREET JOURNAL are representative men and women.
They won the 2003 Pulitzer for Explanatory Journalism for their series of articles on corporate scandals. Here is some interesting information from those articles on why corporate America has problems:
- After paying $6.5 million of a CEO’s personal expenses, and there after filing bankruptcy, a board member in a company realizes that “it doesn’t make sense for the company to get intertwined with an executive’s personal finances.
- Because a CEO defered his salary (defering means letting the company give him the money after he retires or after he is no longer working there,) the CEO accumulates $8 million dollars in interest.
- A company (Tyco) considered that the apartment it bought in NYC for its CEO was necessary for him to do his job. The company’s headquarters is in NJ and the CEO needs to be in the area to do business. Ok. The apartment had $11 million worth of art, furniture and antiques, including a $6,000 GOLD AND BURGUNDY SHOWER CURTAIN.
First the corporations crashed, then the banks, then everything else. Now we are in a recession.
Allan Greenspan says : “the greediness of human beings didn’t increase in the 1990s, what increased were the number of opportunities to satisfy that greed.”
Do you agree with him?