You Own Stock in a Loser

October/03/2010 15:31PM
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You own stock in a company that lost $3.5 billion last quarter. The CEO says it will lose $238 billion the next decade. Revenue has fallen 20 percent since 2007. Operating costs have gone up 6 percent since 2009. Last year the company skipped a $ 4 billion payment to the pension and health care fund. A payment required by Federal law. The funds are short an estimated $90 billion.

Breakeven would require firing 600,000 employees and getting union concessions. Your CEO cut 36,000 jobs and got no union concessions.

Your average employee makes $83,000 a year in wages and benefits. That is 50 percent over the National average.

Do you want to sell your stock in this company? Who wouldn’t?

You can’t, your board of directors won’t let you. You see, this is your Post Office. Have you heard one candidate running for office suggest we stop this insanity? Why should we keep this albatros?

If you want to see in one example all that is wrong with your government, look no further. You have an out of control organization. Demand is dropping. Employees are over paid and under worked. Benefits are the best your tax dollars can buy.

Yet,your elected officials do nothing. And, you and I let them get away with doing nothing. It’s not even a hot topic.

Until we stop this, we get what we deserve.

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