It seems that every survey that comes out about companies that “pay well” or have ridiculously “awesome” perks and bonuses, have always included Lehman Brothers.
I guess those days are over. But when people with less than one year of experience are earning close to $60k and many jobs shoot to the six-figure range after only a short amount of time, should it come as any surprise that Lehman is filing for Chapter 11 bankruptcy protection?
The American public loves reading outlandish lists on the Internet about overpaid CEOs and zany perks. However, they are no laughing matter.
If you have a 401k account, you could be adversely affected by this mess.
As the S&P 500 tanks and impacts index funds, your retirement balance(s) will dip. While you need not panic, as you are only royally screwed if you’re pulling your money out in the immediate future, it is infuriating that these fat-cat companies are lining up to get bailed out by the government.
Chairman and Chief Executive Officer of Lehman Brothers Holdings Inc., Dick Fuld, received a $22 million bonus in 2007. I understand that the subprime meltdown has caused the wheels to come off the bus, but that was only several months ago. Where’s the rainy day fund we’re all encouraged to keep?
Not too long ago, Fortune Magazine and Experience Inc. named Lehman one of the best “employers for new graduates,” based on initial compensation, benefits and perks. I wonder what they think now.
What’s my point? Perhaps it’s what the heck has happened to common sense? Or maybe it’s that every list that comes out is total bullsh*t, even if it does land on the Digg homepage. Maybe I’m just over hungry.
Goldman Sachs might want to consider stopping their coverage of sex change operations under their generous perk package. I might not have a crystal ball, but DUH!
I’m all for employers treating their employees well, but not when the expense get passed on to the greater American public. And trust me, we’re paying.
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