Use access key #2 to skip to page content.

alstry (36.24)

Soon Many Will Be Asking...Why is Anyone Getting A Paycheck????

Recs

15

March 29, 2010 – Comments (4)

Off-Track Betting Corp. officials pulled the reins on consultant and executive compensation Saturday after fielding questions from the Daily News about the payments.

The announcement that the higher-ups won't be paid until the organization is stabilized came one day after the bankrupt OTB sent pink slips to 1,350 workers.

"Until a compromise is forged that saves these jobs, we will suspend our pay," the city's OTB President Raymond Casey said in a statement.

But a budget document obtained by the News shows that OTB at one point planned to dole out hefty pay to consultants trying to save the organization, which is threatening to shutter 66 parlors.

Four consultants - two with ties to Chairman Meyer (Sandy) Frucher - and two law firms stood to make an estimated $4.5 million through June, the budget document shows.

Frucher was authorized to hire consultants in September, spokesman David Vermillion said, but he called the estimates "outdated hourly projections based on activity that will no longer occur."


 http://www.nydailynews.com/ny_local/2010/03/28/2010-03-28_otb_halts_pay_for_executives_consultants_in_wake_of_massive_layoffs.html#ixzz0jZi2HWLp

Government not making enough to pay its employees.

Corporations not making enough money to pay its employees.

Families not able to meet their monthly obligations...and many that can are being paid by government or government benefitted entities.

This is Concentric Contraction as a result of a Zombulation policy.  In the end, the only people paying taxes will be those paid by government....strange isn't it????

We as a nation must restructure soon....or there will be little left to restructure.

4 Comments – Post Your Own

#1) On March 29, 2010 at 10:35 AM, alstry (36.24) wrote:

Interesting Times As The Fools Watch The Ticker.....

Government workers get paid when we don't have the money to pay them...yet private sector workers get fired when confronted with the same circumstances.

In some cases, pensions for government workers get massive bumps even the the city they work for is bankrupt........are you Fools catching on yet?

 

Report this comment
#2) On March 29, 2010 at 11:34 AM, selfdestruct2 (33.40) wrote:

It appears that less Fools are criticizing your analysis. Your predictions are looking more credible each day.

Report this comment
#3) On March 29, 2010 at 12:16 PM, DarkToast (49.01) wrote:

It appears that less Fools are criticizing your analysis.

They are just tired.

Report this comment
#4) On March 29, 2010 at 2:14 PM, freunddoggy (98.51) wrote:

Yeah, we just don't care anymore als -- i mean selfdestruct2

Report this comment

Featured Broker Partners


Advertisement