Must-See Radio
March 21st, 2009 - 4:42 pm
We have an all-new edition of PJM Political ready for you. On the show this week:
James Lileks talks TOTUS.
Allen Barton of PJTV interviews Yaron Brook, the president of the Ayn Rand Institute, to discuss why Atlas Shrugged is enjoying a remarkable resurgence in sales.
Roger L. Simon and Lionel Chetwynd talk about their old friend, the late Ron Silver.
Plus, producer Ed Driscoll and I talk money, money, money and politics. And somehow managed to get through without one mention of Tim Geithner’s winky.
Remember, you can also subscribe to the podcast, absolutely free, at the iTunes Store.
I once worked in a company that went bankrupt. Many employees were offered retention bonuses to insure that the staff, especially the best and brightest, did not just up and leave. I *think* this is rather common and always approved by the creditor’s committee as they don’t want to end up with just buildings are furniture. Our company came out of bankruptcy, but even if we failed, who do you expect to shut down the operations of a complex company except its employees??? Do you really think that outsiders can come into any complex organization and understand where everything is and how it works? So why do employees stay? Can you spell retention bonuses?
What is the alternative? Are the police going to order people to stay?
I would be very annoyed if after agreeing to stay on and work a retention period for an agreed-to amount, an outside group got upset and started complaining about my bonus and tried to take it away.
All of this said, I am not happy about AIG and more to the point I am extremely unhappy about the too-big-to-fail situation we allowed these banks and insurance companies to create