Thursday, November 23, 2006

Happy Thanksgiving, VW shareholders!

Yes, happy thanksgiving to all VW shareholders, who've seen the valule of each share they own rise from 45 Euros to more than 80 Euros. A nice, nice fat benefit. Well deserved.

And, of course, those nice shareholders have decided to share the good news with the people who actually work in VW's factories and actually produce things, cars, actually, and are the only REAL source of wealth of the company. And they've chosen the nicest way of sharing: on Tuesday, the CEO of VW announced that the Brussels site will fire close to 4,000 people. Oh, and before you ask, the Brussels site was the best in terms of productivity and worker qualification.

Oh, and I forgot one thing: the VW shareholders and the CEO at their heels are feeling so generous that they're not actually closing the site. They're just letting some 1,300 workers rot there for a few months (the site is not viable if it has less than 3,000 people working in it). That way, they can avoid paying the fired workers what the law forces them to pay when you close down a site. In a few month, it'll be less expensive to give that money to only 1,300 people.

So cautious, and so wise. So generous.

Ah, how we all should be thankful, how we all should love the Thanksgiving spirit, the spirit that comes from the land of the One Thought, that globalization and wholly unfettered market will be fair to people, and that all will be well.

Today is Thanksgiving, and indeed, all goes well with the world.

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