The link is an great resource for twitterers who provide expert advice on numerous financial issues. I am honored to be on the list.
100 Money Experts You Should Follow and Learn From on Twitter |
This blog is devoted to providing valuable content, novel insight, and maybe even occasional humor regarding commercial and complex bankruptcy issues.
The link is an great resource for twitterers who provide expert advice on numerous financial issues. I am honored to be on the list.
100 Money Experts You Should Follow and Learn From on Twitter |
I have taken a bit of a break from blogging about bankruptcy, and have been diverted to politics, namely health care and Joe Wilson. That being said, I love the NHL case in Phoenix. In particular the attorney for the NHL, Tony Clark, who seems to find more obscure pop culture references that I can--this is, after all, how I evaluate brilliance. First, it was Seinfeld--please see my earlier post here Seinfeld Theory Argued In Coyotes Case - Bankruptcy Beat - WSJ --now Meat Loaf (the singer not the dish).
Trying to prove a point, he explained that unlike the Meat Loaf song, 2 out of 3, was bad. Unfortunately, the Judge was not a fan of Mr. Loaf, and Mr. Clark was forced to explain his joke (never a good idea). Trying to explain Meat Loaf, Mr. Clark could only come up with the fact that "he is a big fat guy" who may or may not be around. Then he tried to smoothly remove his foot from his mouth (also an indication of intelligence) by saying he may no longer be fat. Well, he was close. Mr. Loaf, like many of us, fights an up and down battle with weight, and is still around (doing movies and commercials).
I came across this blog post by my friend Tom Gegax with regard to executive pay. This blog post was written on June 12, 2009, and I am somewhat embarrassed that I did not read this before. That being said, I think it has more relevance now, than it did when it was written. After all, just 3 quarters after Henry Paulson gave his Dr. Evil speech " I need 1 Trillion Dollars or we are all going to die," Goldman Sachs, which received 10 billion dollars of TARP money was giving out over 1000 bonuses in excess of $1,000,000.00.
Those are do not study history are doomed to repeat it, but this isn't history. For g-ds sake, it isn't even recent history. It is the present. Corporate America has an addiction, I would call it "greed" but I almost agree with Gordon Gecko in that greed is good. Greed, when properly directed, can lead to innovation, improvement of processes, advancement of technology. This isn't greed, it is a pathology need for money you aren't entitled to.
As a bankruptcy attorney, many of these businesses will no doubt wind up in my office. Maybe I should follow the pathology of the CEO's and encourage this type of behavior. Then again, it has to stop somewhere.