Wells Fargo & Co. abruptly reconsidered a pricey Las Vegas casino trip for employees Tuesday after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.Oh, a tradition you say? Well, then everything is fine.
The company initially defended the trip after The Associated Press reported the company had booked 12 nights at the Wynn Las Vegas and its sister hotel, the Encore Las Vegas, beginning Friday. But within hours lawmakers on Capitol Hill had scorned the bank, and the company said it was reconsidering.
The conference is a Wells Fargo tradition. Previous years have included all-expense-paid helicopter rides, wine tasting, horseback riding in Puerto Rico and a private Jimmy Buffett concert in the Bahamas for more than 1,000 employees and guests.
What I particularly like is that you can almost hear the indignation in the voices of the people who may not be able to go to Vegas after all.
"Recognition events are still part of our culture," spokeswoman Melissa Murray said Tuesday afternoon. "It's really important that our team members are still valued and recognized."
[snip]
Kevin Waetke, another spokesman for Wells Fargo, defended the trip. He said the company, which recently acquired Wachovia Corp., had a long-standing tradition of recognizing top employees.
"This year, we have the unique opportunity to bring together our Wells Fargo and new Wachovia mortgage consultants to focus on continuing to do all we can for U.S. homeowners," Waetke said.You also had the unique opportunity to accept $25 billion in taxpayer money, Mr. Waetke. And somehow I suspect your new happy Wells Fargo/Wachovia family will be able to focus better in their offices than in Vegas, with all the shiny and/or half-naked things festooned all over the place. And Ms. Murray, may I suggest you help your employees feel valued and recognized by treating them to sundaes? The fixin's are cheap, and it worked well for our office.
Suffice it to say that this is playing... poorly on Capitol Hill.
"Let's get this straight: These guys are going to Vegas to roll the dice on the taxpayer dime?" said U.S. Rep. Shelley Moore Capito, a Republican who sits on the House Financial Services Committee. "They're tone deaf. It's outrageous."No, my father is tone deaf. These people are "taste test the Drano" moronic. Because my mother reads this blog, and the Better Half would not approve of my sharing my true, unadulterated feelings in such a public forum, I will avoid the various obscenities that spring to mind upon reading this article. It's rare that I feel anything akin to Marxist leanings, but I'm fighting a sudden urge to wrap a bandanna around my head, sing "La Marseillaise" and storm the nearest ATM.
Update, of sorts: OK, so technically the French Revolution wasn't Marxist. What I know about history is mainly pieced together from sugar packets. I still stand by my point, which is "boo, stupid banking industry"!
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funny post, but what does La Marseillaise have to do with Marxism? Did you mean the Internationale? And bandannas are more Mexican revolutionary than French. You just kind of threw everything into one stew and came up with a very mixed metaphor, didnja?
ReplyDeleteI was going for a generic revolutionary feel. You don't like my mixed metaphor?
ReplyDeleteViva la revolucion! Fight the power! Up with people!
Hehheh ... I was gonna say something about the Marseillaise thing, but then read your update. Hey, MARx and MARseillaise, sounds alike right? ;-)
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