Corporate Cowardice Backfires

American Spectator ^ | 6/22/05 | John Carlisle

[Alia]

How the shakedown is currently progressing is in remainder of the article.

NC *Ping*

Please FRmail Constitution Day OR TaxRelief OR Alia if you want to be added to or removed from this North Carolina ping list.

[Americanexpat]

IMO this is nothing short of extortion on the part of these Chicago politicians.

[ncountylee]

"People must pay the price for lying and knowing that they're lying."

Alderman Ed Smith was arrested on the spot.

[Alia]

You are right.

[Alia]

What a con-game, no? 2 out of 400 companies through business connected with Wachovia.. and.. the con is on.

[EDINVA]

that's what ya get for wanting to do business in corrupt cities like Chicago, Detroit, Jersey City, New Orleans etc. A smart business would stay as far away as possible.

[paudio]

For how long should current generation bear the sin of the past?

[Mr Ramsbotham]

For how long should current generation bear the sin of the past?

Until it has been bled whiter.

[Alia]

For as long as hucksters can squeeze money out of the con, and people permit it to happen.

[Right Angler]

What a frickin' con game. Probably wouldn't be too difficult a task to find ancestors of many in the reparations movement who also owned slaves. I once read that somrthing like a quarter of all freedmen in New Orleans owned slaves.

How Wachovia or anyone else thought that the bank bears any responsibility for what a yet unacquired company did 150-200 years ago is beyond the comprehension of a reasoning mind. This is piracy and race pimping, pure and simple.

Disgusting behavior on everyone's part in this fiasco.

[SIDENET]

Wachovia Corporation's ridiculous apology for its alleged ties to slavery has backfired.

Good! Let this serve as a lesson to other corporations.

[aShepard]

"Calling Jesse Jackass, please pick up the red courtsey phone."

Too bad that Johnny Cockroach died, this is a made for him kind of a deal.

[Alia]

Corporations, in particular, tend to fall for the "diversity scam" games and because they don't wish the bad press. Recall, how many on the left do these "anti-corporation, evil corporation" protests, etc. It's a pincer move. Some companies fall into the pincer. They need to repel the pincer, but often they don't and because they fall for the "velvet" approach of hucksters, and don't see the warmed fist hiding behind the huckster.

[Alia]

Greenlining Institute (a notorious legal activist CA group generally involved with all things "socialist) tried a similar "game" with West (American?) Bank in CA. (Amer) West Bank in CA told 'em, effectively, to "shove it."

The Bank came out major winners, on multiple fronts. But most especially with the public.

[Jimmy Valentine]

The Bank may be Wachovia in name, but they are First Union Bank in fact.

One of the worst corporate cultures I ever ran across.

IMHO, the worst that happens to them is not enough.

[tomakaze]

appeasement never, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever works.
The idiot who made the decision to "apologize" needs to be sacked. they dug their own hole. no sympathy.

[SIDENET]

All it takes is a little backbone.

[been_lurking]

vowing to strip from Wachovia a $9.4 million loan to build affordable housing units as punishment

Too funny. A $9.4 million dollar loan agreement nets Wachovia what...4 or 5 percent? $470,000 of "potential" income. Wachovia will barely register the impact. Probably gets lost in the "rounding" on their financials.

Meanwhile, the city must now shop for another bank to front them $9.4 million dollars for a less than desirable investment. Who is punishing who?

[G-Man 1]

NEVER negotiate with terroist. See.