Corporate Crime

My Vote For Quote Of The Day

by Lee Stranahan

I was thinking about a post saying that if we're considering mandating a pause in foreclosures, how about considering one on a lot of these f-cking layoffs? Then I found this quote from Barry Diller that sums it up.

“The idea of a company that’s earning money, not losing money, that’s not, let’s say ‘industrially endangered,’ to have just cutbacks so they can earn another $12 million or $20 million or $40 million in a year where no one’s counting is really a horrible act when you think about it on every level. First of all, it’s certainly not necessary. It’s doing it at the worst time. It’s throwing people out to a larger, what is inevitably a larger unemployment heap for frankly no good reason.

'A really horrible act.' That's correct.