Colt executives..... WTF

Discussion in 'Anything Goes' started by Gator, Aug 28, 2015.

  1. Gator

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  2. OOTV

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    Link isn't working for me...
     
  3. Gator

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  4. GreyVF750F

    GreyVF750F Member

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  5. Gator

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    When they lost their military contract on M4's it was a huge hit. The way the idiot exec's structured the company they never could capitalize on the huge surge in gun sales whan Obama took office. Ever other gun manufacturer has seen a big rise in sales for many years. Leave it to top brass to fuck up a company then get bonuses for their incompetence. They should have been paying top guys in R&D to keep the company up on tech to compete with FN, Glock and such.
     
  6. Knight

    Knight New Member

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    ABC News Article:

    Connecticut-based firearms maker Colt Holding Co. is asking a bankruptcy judge to approve payments totaling $2.5 million for nine top executives.

    The Hartford Courant reports ( http://cour.at/1Jb3Cn0 ) the bonuses would be paid if an executive is fired, resigns because of reduced pay under future owners or moves. The bonuses would be paid if the company reaches a certain profit before January.

    The West Hartford-based company is trying to eliminate $350 million in debt to creditors.

    The company also is seeking to drop a provision in a union contract for production workers to keep current compensation through the contract's end in March 2019.

    The restructuring officer says the promised payments would be an incentive for key employees to do bankruptcy-related work and not quit before the company emerges from bankruptcy.


    I do not worry about anyone else anymore. I am doing everything possible to generate a financially secure life for myself. Others can rip off the entire world, and do, but I do not let that affect me.

    Word hard, save your money, and understand that small amounts of money saved over a long period of time turn into large amounts of money. The reason so many Americans suffer is because they spend every last dime. Listen to Dave Ramsey. Eliminate cable TV. Do not need a cell phone for work? Eliminate it. Do not buy new cars, buy certified or used. All of the incremental savings should go right in the savings account every single month.

    If you are already wealthy ignore this and have the best time possible. I am living vicariously through you.
     
  7. FJ12rydertoo

    FJ12rydertoo Member

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    Oops, double post.
     
  8. FJ12rydertoo

    FJ12rydertoo Member

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    You put your money in a savings account, and you're basically losing money. They're paying less than 1%, some less than .5%. Might as well put it in a shoebox. And then you have to pay taxes on the pittance that you do earn. What a great idea, let's penalize people who actually try to save money! But we'll reward the people who screw everyone else. Such a deal.

    One of the advantages of an unregulated capitalistic system.
     
  9. Knight

    Knight New Member

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    Kind of sort of. If you are a typical American you spend all your money on crap that is instantly worthless. So you do not spend it and you put it in the bank, you are rewarding yourself double. Yes low interest and inflation are painful, but will not ultimately matter in the grand scheme of your life if you save robustly.

    The government does not want you saving and to be independent, that is correct. But you are wrong about this situation generated from an unregulated economy. What is the federal reserve? They put rules in place to artificially create 0% interest rates. Getting rid of the fed and their controls would allow interest and borrowing to flourish in a normal manner like it used to. It is over-regulation which has killed the American economy.
     
  10. squirrelman

    squirrelman Member

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    Under-regulation of banks and investment companies is a bigger problem.
     
  11. Knight

    Knight New Member

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    This is another misperception repeated by people who want to make a statement against the thieves who exist in the financial institutions.

    I have a close friend in the compliance group at a large bank. They spend 72 million dollars per year complying with the first 10% of the Dodd Frank Act. (Read those figures again.) There is NO money to pay for any of those mandates. When you start a checking account, how much do you pay them? Nothing. But the bank must do a background check on you when you walk out the door. Essentially, "To make sure you are not Al Qaeda."

    Wondering why fees are skyrocketing? To pay for crap like that background check on average Joe Citizen.

    Would you like to see the real long term story? Look up a historical chart of the number of independent banks in the US. It is a declining curve, aka, every single day banks are going out of business. A bank monopoly is being created. Why? Because no small or medium bank can afford to comply with the millions of regulations that congress writes after every financial disaster.

    Hint: You cannot write a rule to stop the next set of terrible things that some financial person is going to do.

    Hint 2: Anything egregious that some financial guy does is already covered. Financial people like doctors have a set of general ethics rules by which they can be prosecuted for egregious behavior. It is not necessary, nor affordable, nor possible to enforce, writing rules for every tiny, specific thing that a person may do. Congress does this so they can tell you, "We did something."

    "Deregulation?" "Under-regulation?" No that's the oppoite of what is going on. Just wait until the extensive laws leave only one or two banks, essentially "government banks."

    Bernie Madoff - infamous right? You saw him on the news, and he bilked many people out of their livelihoods. Well, the "Ponzi Scheme" is named from a man doing business in 1920. Nothing new here folks. I get aggravated when congress acts like these things are all brand new and writes another volume of rules to "protect us."
     
    Last edited: Aug 28, 2015
  12. Gator

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    Watch the old documentary Money Masters. An interesting history of banking going all the way back to kings who had a tally staff where how many goats you owed him were etched in it.
     
  13. Knight

    Knight New Member

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    That will be the day I revolt, when they ask me to give up my goat.
     
  14. sunofwolf

    sunofwolf New Member

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    99% of the tax money is wasted by the military, police state, DEA, one worthless bunch of shit. stay out of other country's problems, seal the country with a great wall. get rid of the NSA. Ban corps from giving money to politicians.:kaboom:
     
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