The Economy - 23's Blog - Operation Sports

23's Blog

The Economy

Posted on January 30, 2009 at 01:04 PM.

(3)

After watching a Global company that I work for GE (which has the deepest pockets worldwide only 2nd to Walmart)decide to lay off some people at my company that has been tops in the commercial real estate business here in So Cal for over a decade, I think we've become far too consumed with money in the sense that we just need to make more and more whatever the cost.

Im seeing companies such as my own, Sprint, Circuit City, etc.. lay off thousands and thousands of good workers and damaging their livelyhoods, in the hope of saving a few dollars or investments of a few when in realty the employees aren't killing the company.

Im not seeing anyone stand up and make the decision to ride it out, because that's exactly what its going to take anyhow. Putting more consumers out by the thousands unemployed, unable to spend, and unable to make a living is far from the most prudent thing to do in an ailing economic situation.

My company went through a tough time before when real estate began to to affect alot of companies but they stuck to it and was able to sell the company years later for over 5 billion dollars.

The decisions I see being made just lacks real leadership in tough times and it seems those able to handle the strain are the ones throwing others to the sharks to save face.

When we decide to stick together is when things will come together.

Comments

# 1 matt8204 @ Jan 30

What pisses me off is when you see the companies on Wall Street who were crying poor handing out billions in bonuses to executives. Way to reward failure and incompetence, guys. I'm glad that Obama came out and criticized these corporations and I really hope that the government passes stricter regulations with respect to executive compensation. Most of it is obscene and undeserved.

# 2 rudyjuly2 @ Jan 30

I agree Matt. How some companies can post tremendous losses and lay people off and yet justify huge bonuses to CEOs is beyond belief.

# 3 23 @ Jan 31

Exactly my point.. They took away our bonuses but still gave them to execs. They took our annual christmas party and made us volunteer over 2000 hours to make their company look good. They had us complete these strenuous reviews and decided we dont need raises ... after all of this they lay people off, and trust me it sucks when one of the people gone is your boss.

What makes you think productivity will be the same? How about morale? They don't care... more work for less people, and the booger behind is all is the rush to stash as much money as they can among themselves. That's the bottom line