Comments on: "There are ethical ways to cut costs,

"There are ethical ways to cut costs,

found missing — Mon, 29 Jul 2002 17:27:18 -0800

"There are ethical ways to cut costs, and then there is executive greed. Your comment at the recent shareholder's meeting will be your legacy, like it or not ('I have to make that much money, I have an expensive wife.')." –says a disgruntled EDS employee to his CEO, Dick Brown in an internal company memo. FuckedCompany rides the corporation bashing bandwagon and branches out to give you further insight into some of your favorite companies. Subscribers to the mother site get complete access. Non-subscribers can view the free rotating posts. Described in NYTimes (password).

By: swell

swell — Mon, 29 Jul 2002 19:39:33 -0800

The little "$" next to that item means The memo you have selected requires a paid subscription Unlimited access to all memos, for an entire month, for $45 Billed monthly, cancel anytime CLICK HERE TO SIGN UP Yet another doomed Internet business model.

By: BentPenguin

BentPenguin — Mon, 29 Jul 2002 20:03:22 -0800

Watching the times delicately refer to fuckedcompany.com is more fun than watching Peter Jennings reporting back when Voyager was approaching Uranus. (his brilliant solution was to switch the stress from the 2nd to the 1st syllable)

By: madmanz123

madmanz123 — Mon, 29 Jul 2002 20:50:15 -0800

"Yet another doomed Internet business model." Fuckedcompany is one of the few .coms that makes money. I expanded do run its own ad service and has very few employees other then pud. Works for me.

By: Salmonberry

Salmonberry — Mon, 29 Jul 2002 21:38:57 -0800

I think fuckedcompany does ok as a moneymaker as it's a great source for journalists and analyists, who expense the subscription. Kind of a muckrackers LEXIS-NEXIS I think.

By: LuxFX

LuxFX — Mon, 29 Jul 2002 23:28:14 -0800

here's my true story: March 2002: My company (at the time), Aquila, holds a special board meeting to distribute an extra $30 Million in bonuses (on top of their regular multi-million $$ bonuses) to the top five executives. Five people. $30 Million. April 2002: My company announces massive layoffs (500+ people from a 1500 person branch of the company). The reason? To save $35 Million in expenses. July 2002: CEO of Aquila publically defends their extra bonuses. Why? It was for good performance last year. It apparently didn't matter that at the same time these bonuses were being handed out, the company stock was in the middle of a nose-dive that brought $35 shares down to become $5 shares, and that several wall street ratings agencies were threatening downgrades on their stock. Those extra bonuses were more important than 500 people loosing their jobs.

By: swell

swell — Tue, 30 Jul 2002 00:50:29 -0800

Um, the snippet that I quoted was from InternalMemos.com, not fuckedcompany. One of them deals in stuff leaked before companies publicly collapse, the other deals with stuff that happened after. FC carries info that may be useful to people before anyone else gets it, InternalMemos charges $45/mo for info that runs in my $0.25 Mercury News. LuxFX - 11 top PG+E execs were given $30M in bonus pay for driving the company into bankruptcy.

By: quonsar

quonsar — Tue, 30 Jul 2002 05:16:10 -0800

Those extra bonuses were more important than 500 people loosing their jobs.
luxfx, why do you hate america so much? do you want the terrorists to win?
this response has been u.s. patriot act approved.

By: LuxFX

LuxFX — Tue, 30 Jul 2002 06:35:10 -0800

quonsar -- hehe...yeah, well, it turns out a second round of layoffs came in June, another 300-400 people, and I was one of them.... this is a sad world we live in. at least I was able to talk the CEO into writing me a personal letter of recommendation

By: dhartung

dhartung — Tue, 30 Jul 2002 07:14:25 -0800

I think this harks back to the revived AdCritic business model discussion. There are people who will pay $45/month for access to this database, and those people are grouped together into companies who employ other people called journalists, for whom a $45/month subscription will seem a pittance if they can sell many $0.25 copies of newspapers based on a story written via access to the site. I don't know that it's guaranteed successful but it makes much more sense than monetizing millions of eyeballs, and it's clearly a trend.