Posts Tagged 'Wall Street'
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Tags: biotech, economy, KV Pharmaceuticals, pharma, Republican, St. Louis, unemployment, Wall Street
Bridgeton-based KV Pharmaceuticals laid off 289 employees Wednesday. Company interim chief executive officer David Van Vliet issued a statement, saying, “Although this type of action is always difficult, we believe it is a necessary step to preserve our capital resources and to re-size our company to be in line with our current expectations of when and how we will be able to return to market.” The I-Team found out despite cutting nearly 40 percent of its current workforce, the company’s board of directors still found the cash to give themselves a hefty raise. According to the latest 10k SEC filing, the board of directors was paid $116,000 in 2009, but gave themselves a $60,000 raise as the company was involved in massive layoffs and faced an immediate future with no income.
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Wall Street is up to its old tricks again. One year later, one of the key excesses that led our consumer-based economy into an historic downturn is being abused in the exact same way that got us $147-a-barrel oil last summer. Worse, many in the media are again getting the facts wrong on oil prices and demand—as if the oil and gasoline price explosion of 2005-2008 never happened—as one look at last week’s oil report will verify.
It is a shame that the worthless human debris on Wall Street and their government lapdogs care so little for their country and fellow citizens.
The Obama Recovery Is In High Gear – If You Work For Wall Street Or The Federal Government (same thing really) – Rest Of Us Are ScrewedPublished October 3, 2009 Uncategorized Leave a Comment
Tags: economic crisis, Obama, Politics, recovery, unemployment, Wall Street
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Goodman was a moderately successful stockbroker who dreamed of making the big money someday. He took his friend out for a drive, and he chose the route carefully in order to impress on him the possibilities of the brokerage business.
“Look at that yacht,” he said as they drove slowly past a marina. “That belongs to the senior partner at Merrill Lynch. That one over there is owned by the head of Goldman, Sachs. And look at that huge yacht out there. That’s the pride and joy of the top seller at Prudential-Bache.”
His friend was silent. Goodman turned to look at him and saw a pained look on his face.
“What’s the matter?” Goodman asked. “I was just wondering,” his friend said. “Are there any customers’ yachts?