Sunday, February 26, 2012

When I'm Lucid, I Struggle to See Your Point.

Anyone remember A123 Systems ticker $AONE? You mean you forget yet another of Wall St.'s hot IPO must own stocks of the future? Don't fret if you did as it's easy to do since the flavor of the moment, do as their told, propaganda puppets @CNBC hyped it incessantly pre-IPO and now that the pump and dump is complete and it has tanked into the abyss have conveniently walked away. (Please watch the movie Boiler Room for a detailed tutorial on the process.)

Well for your viewing pleasure below is an updated view of $AONE (weekly basis).


Lovely sight isn't it. Gee, I wonder why the yellow brick road, everything's peaches and cream boobs and boobs in chairs @CNBC conveniently ignore it? Well, the story continues even if @CNBC wants to pretend it doesn't.

Check out this piece from Joel Gehrke from the Washington Examiner Green company gets 390M subsidies, lays off 125. You mean they simply laid the 124 off and didn't ship the jobs to slave labor China for 74 cents/hr? Okay. I get that. I get free market capitalism, times are tough, they had to steamline things, lay off people. It happens all the time.

So some management got the axe right? Okay, well maybe not the axe but definitely no bonus' and maybe even some pay cuts right?

WRONG!

  • Robert Johnson- VP of Energy Solutions Group at A123 received a 20.7% pay raise. Just in case you prefer absolute numbers his pay went from $331,250 to $400,000.
  • Jason Forcieer- VP of Automotive Solutions Group at A123 had his pay go from $331,250 to $350,000.
  • David Prystash- CFO of A123 had his pay go from $350,000 to $380,000.

You just gotta pay to keep top talent around. Or at least that's the oft repeated rebuttal I keep hearing from the shills, apologists and hacks with their snout in the trough.

Heck, if you really want to get down to the nitty gritty $390 million in taxpayer subsidies down the tube must seem like a relative bargain compared with $500 million that was flushed with Solyndra no?

I mean I must confess I don't have an Ivy league MBA and I struggle dearly when someone who does possess one tells me 2+2=6 or that -47% loss is outperformance of -53% and a raise is due for relative outperformance.

No matter how the flacks and water boys want to spin this it is yet another exhibit, in an seemingly endless stream of them, of more crony capitalism. In the land of crony capitalism or BizarroLand as future generations will mockingly call it, failure is rewarded with not with ridicule and purgetory but rather bonus' and promotions. Of course the oligarchy will breathlessly harp that its not. To which I, again sans Ivy league MBA respond, of course its not but please pass me another Xanax with a Prozac chaser because when I'm lucid, I struggle to see your point.

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