Good Work If You Can Find It

By: Jason Colthorp
By: Jason Colthorp

United Auto Workers are getting laid off for simply working hard, while others lose billions and stick around.

I was dumbfounded that it took forever for Rick Wagoner to get the boot from GM.  I mean, he was the man at the helm of a company that lost $85 billion and change over 3 years or so, right?  And it took the government to fire him!  In today's business world, so many companies-- especially media-- simply whack the highest salary at the company just for being in tight times.  But some of these floundering so-called Fortune 500 companies not only keep their high-priced, high bonus-getting CEOs-- they do it even after they've run the company into the ground.  Which is why it should surprise no one that Bank of America, that took a $15 billion dollar bath on the Merrill Lynch deal decided to fire its CEO Ken Lewis, but... wait for it... keep him on as company president.

KEN LEWIS FIRED AS B of A CEO, KEPT ON AS PRESIDENT - TIME MAGAZINE

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