I thought about that song of Jerry Reed's as I watched what has happened lately on the corporate scene. The big shots of Enron and WorldCom and others, they got the gold mine while the poor employees and the innocent stockholders got the shaft. If a picture is worth a thousand words, take a look at this gold mine. It was built partly on the backs of those Georgia schoolteachers who, each month, put their hard-earned money into the Georgia teachers' retirement fund. The fund in Georgia lost $78 million from Enron and another $6 million from WorldCom. Think how many monthly contributions by how many struggling teachers that represents. And think about those other thousands of employees who have lost their life savings, not even to mention the thousands of employees who have lost their jobs--at least 450 jobs were wiped out in Georgia alone so far. Yes, a few big shots got the gold mine and a lot of little folks got the shaft.
Stephen Miller: “I thought about that song of Jerry Reed's as I watched what has happened lately on the corporate scene. The big shots of…”
Editor's note · Context
Addressing the impact of corporate scandals on employees and stockholders.
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