Bailout or handout?

As reported in the New York Post, Peter Kraus, formerly of Merrill Lynch, received a $25M payout when the company was sold to Bank of America to avoid a bankruptcy filing. The sale occurred only days after Mr. Kraus started working so it wasn't a bad deal to earn $25m after a few days work. I'm sure we all wish we could do that. Mr Krause, perhaps while on the job hunt, continued to work at Merrill through December at which time he became the CEO of another money management company.

So what does one do with a $25M bonus? Buy a $37M Park Avenue apartment, of course! Clearly the real estate market in NYC isn't in a slump if an apartment can be sold for 2x as much as it went for only two years earlier. I suppose we could simply consider this part of the bailout for the previous owners who I'm sure couldn't make their mortgage payment.

As much as we might detest the fact that this guy got a $25M payout after a few days at work, we have to recognize that he is nothing more than a shrewd negotiator. Surely the then CEO of Merrill knew of the company's financial troubles and yet they negotiated a deal like this knowing the financial "health" of the company. I'd really like to know what Mr. Kraus contributed to the company in the short time he was there. Apparently bonuses are no longer based on performance, but only on negotiation skills. I wonder if they were EVER based on performance.

And our wonderful "representatives" in Washington? We can only hope that they will learn from their mistakes, but I realize this is only a dream. We the taxpayers, thanks to our representatives, will continue to spend our hard earned dollars to support the purchase of apartments like this. Perhaps we should all move in.

Bailout or handout?

Year end lists

It is typical for people to create lists at this time of year: list of their favorite songs of the year; lists of resolutions for next year; list of the best or worst you name it. Well Time Magazine has, like probably everyone else, put together a list of lists for 2008. Among their lists are the:
- top 10 oddball news stories, which include the pregnant "man" and the fish pedicures;
- top 10 campaign video moments... ahhh who could forget the Couric/Palin interview;
- top 10 political lines, check out #3 and #7 in particular;
- top 10 fashion faux pas, #1 is enough to get you rolling; and
- top 10 outrageous earmarks, GO Bacardi...go mules?

My favorite of the lists however, is the top 10 gadgets. I think it is important to note that I own NONE of these gadgets. And sure you are already probably familiar with my Amazon wishlist, you can also think of this list as a wishlist of sorts.

What sorts of lists have you created?

Year end lists

Happy Holidays

I'm writing just a quick note today to wish everyone a Merry Christmas, Happy Kwanzaa, Happy Chanuka, Merry Festivus or whatever it is you celebrate (or not) at this time of year.

While I don't traditionally have a tree at home (because I normally celebrate Christmas with family in NY), Fred insisted on getting a small tree, pictured here, which added a very nice touch to the living room this year. The tree is actually a rosemary bush shaped to look like a tree and it adds such a wonderful scent to the room. It's absolutely wonderful.

an image before the fireplace is lit. I'm looking forward to spending time by the fire.

So, whatever you're doing this holiday season,I wish you all the best. I hope that 2009 brings you even more love, peace and happiness.

Happy Holidays

Who's crazy now?

As I watch the news each day and post links to some of these stories here and on Facebook, I am left wondering what is "normal." Is it, in fact, OK for a young girl to get engaged to a man whose last two wives have had untimely deaths or have disappeared? Is it normal to sell your snot - even for charity? Is it normal for us to spend as much time on Facebook as some of us do? Well, thanks DA for alerting me to the fact that the APA is in the process of revising the DSM. Although this new edition won't be out for a few years, by which time there will be other activities to question, we'll be able to look back at our activities from 2008 (recorded here on FB and in other places no doubt) and say with psychological certainty that we are all, perhaps, crazy!

Who's crazy now?

Today's news...

http://tinyurl.com/65auqz
Obviously, some people aren't embarrassed enough to NOT shop. And if that's the case, why even try to hide the fact that you're spending the money.

http://tinyurl.com/4xf9t6
Victim's rights people will, once again, be all over Mr. Peterson a year or two from now when this woman goes missing or turns up dead. While I am generally not a "blame the victim" person, has this woman been living in some sort of bubble for the past few years? Mr. Peterson says he deserves happiness - and he does - but his happiness, in my opinion, would be living with himself.


http://tinyurl.com/5jt6em
My favorite sentence which, of course, comes as no big surprise:
"Disabilities, the couple says, have left both out of work: Heath Campbell can't landscape or pump gas because he has emphysema, and Deborah can't waitress because she has a bad back. They live on Social Security payments."

Judge Judy would have asked how her bad back didn't prevent her from having 3 kids - one per year! And apparently the only jobs available in that town for men is pumping gas or landscaping. Can't he go work at the supermarket? Maybe he can be the one to write names on the cakes in the bakery section. He might also want to go work at Wal-Mart.

Today's news...