Okay, so yesterday I said that I had no problem with Bank of America spending $10M to sponsor and support the NFL's charitable event, the NFL Experience, at Super Bowl XLIII. (Why Bank of America Spent $10M.)
However, I, and probably half the population, have a problem with America's corporations taking federal bail out money and continuing to shower employees with fabulous parties and lavish trips.
Not only is it a bad financial decision and a public relations nightmare, it shows a total lack of caring and how out of touch the people in the "ivory tower" have become after years of prosperity.
All of this reminds me of a spoiled child who goes to Mom and Dad and borrows money out of a need to pay bills but instead blows it foolishly knowing that the bank of Mom and Dad will "lend" more.
Publicly traded corporations need to be aware of the economic climate of the country and when they are underperforming they need to act appropriately and remember their shareholders and the number of people standing on the unemployment line.
As long as "we" have government ownership in these companies, as long as they are doing massive layoffs, as long as they can't show a profit and earnings to shareholders beyond those on their board, let's hope that we see these spoiled brats refrain from partying down while Wall Street burns. It really is poor form.
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