Monday, February 16, 2009

Circuit City

While out and about this evening, I drove by a Circuit City store and decided to stop in and check out the going out of business specials. The store was pretty picked over, I would estimate over half their inventory is gone, but looking around I thought that the close out prices weren't that great anyway. 50% off a $60 HDMI cable is still too much. Especially since I can find one on Amazon for as low as 97 cents. It may not be Monster Cable brand but it gets the job done and I really doubt anyone could tell the difference. Anyway, point is there wasn't even anything worth buying at close out prices.

What this all really leads me into though, is almost a political statement. How much longer are we going to have companies fold because way overpaid executives are raping the company? Corporate America seems to have gotten so top heavy that it sickens me. How in the world can executives justify such exorbitant salaries while nickle and diming non management employees? Maybe in a privately held company that can happen, but don't executives of publicly traded companies have any accountability to their share holders? Even on their way out Circuit City is splitting $2.3 million in retention bonuses between 16 execs while giving $750k to the remaining 34,000 employees who will be losing their jobs. The same 16 people who just ran the company into the ground. How in the world are they not accountable to stock holders? The same thing is going on at the big 3 auto makers along with who knows how many other struggling companies across the country.

I'm not a communist by any means and certainly don't favor any kind of government regulations. I simply can't understand how the free market can allow this kind of irresponsibility when, in my opinion, much of the current economic crisis is due to exactly this kind of mismanagement. I don't have any answers I'm sorry to say, I'm just angry today. Maybe it's about time for me to stock up on weapons and ammo and join Shelvis in his bunker so I can have some company during the impending chaos. At least I can count on an abundant supply of home made pickels there. Things are going to get worse before they start getting better.
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