I read this news story today on MSNBC, and I found it pretty interesting. Wells Fargo is re-considering an annual trip that it has done for years to reward its top performers.
Now let me get this straight right off the bat, I was not in favor of taking tax payer money and bailing out these banks from mismanaging there portfolios. With that said…
Look very carefully at this scenario, the company is reconsidering whether to hold their trip “amid criticism from Capitol Hill”.
Don’t you find that a little odd… “amid criticism from Capitol Hill”.
In other words, we gave you the money and we find the way your looking to spend it… unacceptable.
Wells Fargo because of accepting this bailout money has become a slave to Capitol Hill.
Now what can we learn from this story…
1. When you take money from someone with out earning it, you are always in the debt of that person who gave you the money.
2. If you are going to fail… fail. And start over with a new business model that makes sense.
I am convinced that this is only the beginning of what we are going to see from the TARP bailout, and the Stimulus package now being debated on Capitol Hill.
Make sure to get yourself prepared.
Here’s to Your LifetoSuccess,