Rich boss,Poor boss.

The hot topic for discussion seems to be Economic Recession.Even the celebrities are quipping in now.Not knowing the answer to that one particular questions might plummet them down the popularity charts.I'm sure the dumber ones have started consulting to know exactly what do you mean by Recession?.

Serena Williams,inspite of earning $22 million in winnings last year has seemingly cut back on her expenses.She offers her $12 handbag as evidence.

Shahrukh Khan worries that the Kolkata Knight Riders will face the same problems as other teams because of the economic downtrend.Meanwhile,Vijaya Mallya pretends to ignore Recession,throwing away $1.55million to get Kevin Pietersen on board his bandwagon.

While celebrities brush up on Recession,CEO's are taking up some stringent measures to cope with it.Citigroup Inc. CEO Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability.CEO's at companies outside the finance industry, including Rick Wagoner of General Motors Corp. and Ford Motor Co.’s Alan Mulally, have also agreed to work for $1 a year.

Well,I sure hope the Citigroup gets back on the profit tracks soon.Else we would have to enlist him as a case study of Bad managerial skills in our B-school syllabus.Of course,he would have company,but not one that he might like.

Comments

vikas mk said…
Taking a 1$ pay check by these CEO's is more about sending a message to the company rather than an actual economic decision isn't,it?
If the company is laying off thousands of employees every month, it wouldn't look too good if the CEO is taking home a fat pay check , would it?.So instead of going overboard with a 1$ pay, these guys should go in for a pay reduction and save all the drama for later ......:D..
anusha said…
Maybe they were just trying to be melodramatic.Possible that they watched some mythological Bollywood movie.
rubs said…
recession only affects the bedrock..rich are gettin lil less richer n poor are gettin very poorer!!
Sharma said…
Firstly, that's Serena's total career earnings. With such money, a US $12 bag or a Louis Vuitton costing US $600 shouldn't make a difference.
All franchises of IPL knew it'd take a couple of seasons for their investments to break even. I still believe it'll happen. Cricket wouldn't suffer in India.
Mallya can spend as his breweries can cover up for everything. Heh.
Maybe, what'd happen to the people passing out in 3 months, is a good question?
anusha said…
@rubs
i dont think its affecting just the bedrock.
@sharma
at that rate,mallaya will be the last man standing!
and yes-what will happen to the people passing out in 3 months in a good question.I guess,we'd manage to survive somehow.....
Iceman said…
That $1.5 mill for KP is a diff story. All groups had investments deposited with the IPL carried over from last year which they could use to buy new players or something like that. The process is a bit hazy to me, but its clear that he didnt invest any extra cash this year!
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Anonymous said…
My Rich Boss decides to be rich by doing the impossible that is why he is rich. The Poor Boss decide to do nothing and stay poor!

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