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Nambe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 10:31 AM
Original message
Lehman Staff Gets the Shaft in Severance
Source: New York Post

While fat cats at the bankrupted Lehman Brothers made multimillion-dollar salaries driving the company into the ground, lower-level employees have been told their severance packages have just been yanked.

Ann Harvey, 45, of Staten Island, said she received a letter in the mail Wednesday informing her that the company had cut her off as of yesterday.

"This is terrible," she said. "I could lose my home. I can't pay my mortgage while I'm on unemployment."

Harvey, who worked as a telecommunications analyst for Lehman Brothers for 16 years, was let go in March. ...

Read more: http://www.nypost.com/seven/10042008/news/regionalnews/lehman_staff_gets_the_shaft_in_severance_132071.htm
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MadMaddie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 10:33 AM
Response to Original message
1. These are the people that should have been protected...
The numbers are going to continue to get worse through the end of the year.
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amdezurik Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 10:35 AM
Response to Reply #1
2. well they made the choice after all
they COULD have sent millions to the political parties instead of eating and stuff. SO it must be their own fault, right?
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brentspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 11:30 AM
Response to Reply #2
5. s/del
Edited on Sat Oct-04-08 11:30 AM by brentspeak
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amdezurik Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 12:13 PM
Response to Reply #5
6. sarcasm impaired?
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MadMaddie Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 02:46 PM
Response to Reply #2
10. You totally misunderstood what I wrote
I am not blaming the employees of these company's. They did their jobs as they were supposed to the CEOs of these companies screwed their own employees.

The bailout package should have protected employees retirement benefits...

No where will you ever read that I blame employees for mismanagement at the top.

The bailout plan was not designed to help workers that's the bottom line.
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amdezurik Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 03:43 PM
Response to Reply #10
13. right back at ya
neither did I blame them
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 04:31 PM
Response to Reply #2
18. What do you wanna bet that in this fabulous Banana Republic of ours
At least SOME of the 700 Billion in bailout monies will go to helping secure the electronic machinery for a Repug victory.

And to to help flood the coffers of the Republican campaigns - both local and national elections.
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amdezurik Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 10:47 PM
Response to Reply #18
21. yep, best government that can be bought
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Nevernose Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 11:09 PM
Response to Reply #2
22. You shouldn't have to use the sarcasm tag
But sadly, around here, you do need the sarcasm tag. I believe that smileys are the cause of illiteracy.

Seven and a half years of Dubya have left some of us a little testy. Sorry.
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-05-08 02:36 PM
Response to Reply #2
24. I could use some help with this topic today
If you ahve a moment could you check this out??

http://tinyurl.com/3t8gyx

Hope all is well with you and you are enjoying the weekend

T.D.
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baldguy Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 10:59 AM
Response to Original message
3. 16 yrs
And she has literally nothing to show for it.
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Karenina Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 11:08 AM
Response to Original message
4. HÄ? What happened to the BILLIONS transferred to Lehman's
from their London office and Kfz??? Things that make ya go HMMM...
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 06:31 PM
Response to Reply #4
20. Well, 2.5 billion is guaranteed to New York Lehman exec bonuses.
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Trillo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 01:07 PM
Response to Original message
7. Isn't this feudalism?
I remember some small snippets of history from many decades ago that gave me the impression feudalism was from a period long ago. Ha.

Waxing sarcastic, this isn't feudalism, it's predatory capitalism. See how easy? No similarities at all!
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BearSquirrel2 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-05-08 08:41 AM
Response to Reply #7
23. Feudalim is the endgame of unrestricted captialism ...

I tell people this all the time and they do not believe me. Feudalism is the endgame of unregulated capitalism. The "invisible hand" only works when there is parity amongst the actors in an economy. When you start getting monopolies and a class of individuals who intentionally undermine market forces for personal gain, the "invisible hand" looses fingers and simply does not work anymore.

The endgame is a few individuals with ALL the wealth. Everyone else is just a serf.

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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 01:24 PM
Response to Original message
8. This is the fear of so many of us Americans. I know I'm afraid of it happening to me. nt
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jrockford Donating Member (504 posts) Send PM | Profile | Ignore Sat Oct-04-08 02:29 PM
Response to Original message
9. awful nt
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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 02:53 PM
Response to Original message
11. Goddammit, we knew this was coming.
It will only get worse.
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Confusious Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 03:39 PM
Response to Reply #11
12. What did she expect?
Edited on Sat Oct-04-08 03:40 PM by Confusious
This is America! Pull yourself up by your bootstraps. What, you have no boots? Well, I guess your up shit creek then. I might give you a 1/4 second thought as I sail on my yacht, smoke my cigars and spend money that the Republicans let me steal because there was no regulation!

Now watch this drive!


That would be sarcasm, if I thought that this wasn't the way this country and the republicans work.

What a f***ing joke on us.
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Bryn Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 03:48 PM
Response to Original message
14. Trickle Down Theory? Heh It's Peed on instead
There are two words within "Trickle" ... Trick & Lie
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xloadiex Donating Member (118 posts) Send PM | Profile | Ignore Sat Oct-04-08 03:54 PM
Response to Original message
15. What happened
To the 2.5 billion in bonus money?

Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night.....

http://www.independent.co.uk/news/business/news/fury-at-25bn-bonus-for-lehmans-new-york-staff-937560.html
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Anywho6 Donating Member (458 posts) Send PM | Profile | Ignore Sat Oct-04-08 03:57 PM
Response to Original message
16. Yeah, from what I recall when a company...
...I worked for went bankrupt, all agreements re: compensation were basically null and void. I believe one can continue health coverage via COBRA for up to 18 months even in a bankruptcy. It's not fair and it's definitely not "right," but it is what it is. Many, many, many people are going to suffer because of the deregulation, greed and arrogance policies encouraged by * et al.
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Sadie5 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-04-08 04:20 PM
Response to Reply #16
17. Uh..pardon me
When both Obama and McCain were on the TV hawking this plan to the good citizenry of this country as a "Must DO" situation did they give any thought to these workers who would be the ones to suffer. NO, they did not even mention them, they were much too busy, both of them, protecting wall street. JMO
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Azlady Donating Member (889 posts) Send PM | Profile | Ignore Sat Oct-04-08 04:51 PM
Response to Original message
19. I am in tears.. how many others will this be happening to
while those fat wallets jerks have there 8 homes, 2 yachts and endless off shore bank accounts. This bailout S U C K S! What about U S !!!! What about the backbone of this country!!! All of us hard working AMERICAN citizens!!! SCREAM!!!!!!!!!!!
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 07:30 PM
Response to Reply #19
25. When an entire population is pretty much forced by the media
To have only TWO POLITICAL parites, this is what happens.

Every country on the planet that has health care for all, elections that are secure and unstolen, respect for all citizens regardless of their sexual preferences, and that sees its assets go TO THE MIDDLE INCOMED people - these are all countries wherein more than two political parties are encouraged!!
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