Comments on: Luxury Car Dealers Look Away Now: Wall Street Bonuses Go Poof!

By: DearS

DearS — Mon, 28 Jul 2008 01:58:29 +0000

I do not want to expect to much from this, but I do hope for a lot. What I really want is help and guidance through obstacles. Greedy folks are obstacles, economic woes are obstacles. I just do not want to suffer because of my challenges, or fear them. I made need to make some pioneering moves though.

By: ohsnap

ohsnap — Mon, 28 Jul 2008 00:54:40 +0000

A country that manufactures nothing becomes nothing. We are following in the footsteps of England.

A banana republic that rises and falls on stock market valuations, housing bubbles and other vague notions of wealth – fleeting ones at best.

By: capeplates

capeplates — Sun, 27 Jul 2008 07:58:04 +0000

The bonuses paid to these guys is obscene. In a downturn in the economy the small guy is always told that a pay rise is out of the question, nthe company lost X milion dollars in the last year so the company cannot afford it. How often do we see bonuses cancelled all together for the same reason. NEVER. History show the rich get richer the poor get poorer.

By: kjc117

kjc117 — Sun, 27 Jul 2008 00:01:54 +0000

The Lexus’s sales fall is more of an indication of their real customer base is not on the same level as traditional titan’s BMW & MB. A significant percent of Lexus’ s customer base can not really afford their product. This is more alarming than the actual fall in sales. Toyota’s product and service maybe on the same level as rivals BMW and MB but there customer base is not.

By: Brendan

Brendan — Sat, 26 Jul 2008 19:58:36 +0000

For every financial worker hit in the pants, there are two fresh millionaires in an emerging economy somewhere.

By: John Horner

John Horner — Sat, 26 Jul 2008 18:24:43 +0000

Wall Street may provide an important service, but they are grossly overpaid for what they actually do. In fact, much of what Wall Street does is counter to the best interests of the many, but of great benefit to the few.

Consider Bear Stearns. In February 2007 Bear put $305 million into the executive bonus pool. A bit over a year later that bankrupt company was bailed out by the US taxpayer and sold off for pennies on the dollar. Shareholders and taxpayers got the shaft while the executives live high on the hog. Not a penny of the $305M which was pissed away will ever come back.

http://www.reuters.com/article/companyNewsAndPR/idUSN2134187420070221

The de-industrialization of America, the mortgage money boom-and-bust, Enron’s speculative disaster, rapacious banking fees and a predatory credit card industry are all brought to you by the overpaid bankers.

So I agree, we need to keep them on a tight leash. Said leash has been on a very weak bungee cord for a very long time. One key turning point was Gramm-Leach-Bliley Act of 1999 which cut loose many of the leashes which had been put on the bankers after they caused the original Great Depression.

http://www.answers.com/topic/gramm-leach-bliley-act-of-1999

By: taxman100

taxman100 — Sat, 26 Jul 2008 17:59:30 +0000

Based upon how things are going in the financial industry, the huge government bailouts, and the terrible results of the stock market, etc. since 2000, I would say Wall St. is grossly overpaid.

Maybe we can outsource all of their jobs overseas too. After all, they should have developed a job skill that is irreplaceable.

By: Banned User

Banned User — Sat, 26 Jul 2008 17:51:54 +0000

What do you guys think?

Ever ask a poor guy for a job?

By: 50merc

50merc — Sat, 26 Jul 2008 17:11:00 +0000

Golly, Landcrusher, it’s awfully hard to choose between two equally excellent explanations. I’ll have to give it more thought.

What I do know is that this country has been steadily going downhill since 1935. Things were so much better back then. Lots more jobs for farmers, because with mules it takes more time to plow a field. Lots more jobs for factory workers, because tools were simpler. Few people worried whether the next semester’s tuition fee would go up, and the cost of air travel was a minor concern. Good ol’ Doc Jones had low fees for heart transplants. Many people had radios to entertain them, and the hometown newspaper informed folks of what they needed to know about. Practically everyone slept under some sort of roof at night, and half the houses even had indoor plumbing.

I guess I’d be more optimistic about America except I just saw on CNN that everyone is one step from the poorhouse if not already there. Well, at least we have soup lines on every block to prevent mass starvation. Do you know whether Zambia allows immigration?

By: Landcrusher

Landcrusher — Sat, 26 Jul 2008 16:33:34 +0000

JH,

Slow down there fella. Those bankers provide a good service. They just got a little oughta hand for a while. We need to keep’em on a tight leash is all.

As for luxury car sales slipping, there are two possible replies I can’t decide between:

1) That’s ridiculous! We all know the rich are getting richer at the expense of the poor. Since the poor are getting poorer, the rich must be getting richer.

2) Good, it’s about time the rich learned a lesson. Stick it to them. No one needs one of those cars. The rich people should give their money to people who need it, not waste it on expensive toys.

What do you guys think?

By: Kman

Kman — Sat, 26 Jul 2008 16:31:16 +0000

@John Horner: Amen to that!

By: Blunozer

Blunozer — Sat, 26 Jul 2008 16:28:18 +0000

Anybody else hear about the sequel to Wall Street?

Some of the stuff being pulled off now make Gordon Gekko look like George Bailey from It’s a Wonderful Life.

By: John Horner

John Horner — Sat, 26 Jul 2008 14:49:14 +0000

Excellent news. The amount of cash the Wall Street types have been extracting from the economy while they don’t actually design, produce or market ANYTHING needs to end permanently.

By: tony-e30

tony-e30 — Sat, 26 Jul 2008 14:41:27 +0000

Sweet. All these years of holding out for Ferrari employee pricing, Ferrari dealer cash rebates, and Ferrari special lease rates has finally paid off. Now it’s time to sit back and watch for the Ferrari TV commercials to find out which local dealer feels the most desperate and will cut me the best deal on my fuel miserly 1972 BMW 4-cylinder trade-in. Do you hear that foghorn? Yeah, that’s the sound of my ship coming in…