Around the world governments have been implementing “stimulus” packages to try to get the economy back on track.
First point … I think that is absolutely the right thing to do. Business as normal would be like “ostrich syndrome” … sticking your head in the sand and pretending nothing unusual was happening.
Second point … its not enough! We need to have everyone pulling together and herein lies the problem … in ONE word … GREED!
Wall street investment firms paid out Billions of dollars in bonuses this year … EVEN as they were going cap in hand looking for money from the government … read Joe average tax payer (who are the shareholders of the government).
CEOs continue to take home significant incomes, with massive bonuses and stock plans, despite the fact their companies have tanked!
Executives of these publicly traded companies continue to enjoy the “lifestyle” of the rich, flying in corporate jets, dining in exclusive restaurants, golfing at exotic locations etc. and I honestly believe that is all extravagance that NO shareholder should need to pay for These people earn good money, if they want these perks make them pay out of their own pocket!
Boards of publicly traded companies continue to enjoy the same perks and income they enjoyed despite the market crash!
Here is my take:
1. The taxpayer (ie. governments around the world) have done their bit … and may continue to add “stimulus” where they can. Thank you!
2. CEOs need to get with the program … change your behaviours, reduce your income, STOP taking massive bonuses from the shareholders.
3. Executives in general need to follow the same example … cut back, be frugal, be seen to be part of the solution.
4. Ditto for board members.
5. Companies need their own stimulus packages … encourage staff to invest in the economy. Implement employee purchase plans … eg computer purchase plans with payroll deduction; charitable contributions with payroll deduction; where possible lower interest rate loans/no interest rate loans for targeted purchases relevant to their jobs.
6. Companies need to invest in the economy … adopt a charity; support local businesses; spend wisely with local suppliers etc.
There will always be nay sayers to the stimulus package. I am disgusted with the NDP and Parti Quebecois who are playing political games at a time when we need EVERYONE pulling together on a fixing our economy.
That old saying says it all … lets ALL be part of the solution and NOT part of the problem!