Bankers Gone Wild

NOON -- Maureen Dowd of The New York Times has stimulating news guaranteed to soft-rock your world:

    The entertainment Web site TMZ broke the story Tuesday that Northern Trust of Chicago, which got $1.5 billion in bailout money and then laid off 450 workers, flew 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.

    “A rep from the PGA told us Northern Trust wrote one big, fat check in order to sponsor the event,” TMZ reported.

    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.
Chicago? Do any of these clowns really know what time it is? Party like it's 1969!

May they all emulate the late Chicago guitarist, Terry "Don't worry, it's not loaded" Kath.

— Larry, Attack Monkey, Light Reading

Larry, Monkey 12/5/2012 | 4:10:51 PM
re: Bankers Gone Wild Chipmaker Spansion Inc. has restored its executives to full pay after laying off 3,000 workers with no severance pay.

"The company had imposed a 10 percent pay cut last Oct. 6 for top executives. But in a securities filing, it said it was returning the executives to full pay as part of an 'employee retention program...'

"CEO Bertrand Cambou was paid a full yearGÇÖs base salary (just over $751,000) plus a four-month consulting fee when he resigned suddenly at the end of January."

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