Maureen Dowd has a great column today at the New York Times regarding Northern Trust of Chicago and the money they spent on a trip after taking 1.5 billion dollars in bailout funds. Hundreds of workers were laid off but the bank found a way to fly "hundreds of clients and employees to Los Angeles last week and treated them to four days of posh hotel rooms, salmon and filet mignon dinners, music concerts, a PGA golf tournament at the Riviera Country Club with Mercedes shuttle rides and Tiffany swag bags."
This is the kind of stuff that makes me shake my head in anger when CEO's go before congress and claim that bonuses and high salaries are the only way to keep the best of the best. If these are the kinds of decisions they are making I want it known that I can screw up half this much for about a third of what these guys are being paid.
Northern No Trust had a lavish dinner at the Ritz Carlton on Wednesday with a concert by Chicago (at a $100,000 fee); rented a private hangar at the Santa Monica Airport on Thursday for another big dinner with a gig by Earth, Wind & Fire, and closed down the House of Blues on Sunset Strip on Saturday (at a cost of $50,000) for a dinner and serenade by Sheryl Crow.
Click here to read the rest of this sordid tale.
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