Tag Archives: greed

Mind the gap

Is it just me that sees headlines like this and just shake my head?

Air Canada gives execs $10M in bonuses

The article states, “Air Canada granted its executives and managers $10 million in “COVID-19 Pandemic Mitigation Bonuses” and other special stock awards to compensate them for last year’s salary cuts, per its annual note to shareholders. The extra compensation came while the airline was negotiating a $5.9-billion rescue plan with the federal government… Air Canada explained the bonuses, pointing to its “management’s exceptional performance” during the pandemic.”

All this after laying off half of its workforce.

Wow.

I have a friend who thinks Jeff Bazos deserves every penny for getting Amazon where it is. Meanwhile, I think he could personally pay every employee that makes less than 100,000 a year a $10 per hour raise and still be one of the richest men in the world a couple decades from now.

I’m sure Amazon executives earn their fat bonuses too.

These inequalities are getting worse, and our governments subsidizes these big companies, and gives them tax breaks, so that they can provide jobs.

This isn’t sustainable. It’s not just about executive bonuses, it’s about gross inequity. The gap is widening.

Wealth, privilege, and charity

The challenges ahead are easy to understate and misunderstand. Things are still likely to get worse before they get better with respect to covid-19. Even when things open up, the virus will still likely plague us until there is a vaccine. Many jobs will not return, and the prospects for many will include requiring financial assistance, and/or abandoning mortgages that can no longer be afforded.

So when people like Jack Dorsey donate:

“$1 billion, or almost 30% of his net worth, to first fight the coronavirus and then help the causes of girls’ health and education, as well as experiment with universal basic income.” (Source)

This is amazing to see! And he isn’t the only one. Bill Gates is leading the charge to find a vaccine. Athletes are donating to food banks. Oprah, Rihanna, and Bono, three people so well known that they only need one name, have all stepped up to make significant donations to help during this crisis. Beyond that, countless middle class people are supporting their communities in their own way. A local archery club is donating lessons in exchange for food bank donations. People are making masks and hospital caps to donate. Some people are even doing things like paying their hair salon stylist after cutting their own hair. People everywhere are finding ways to be charitable. This is wonderful to see, and rewarding for those that are being charitable as well as those receiving charity.

But I wonder about the ultra wealthy and their total contributions. How many people with more than $100 million in the bank are really doing their part? It’s easy to be blind to your privilege, to not recognize that what you take for granted is what others cannot. I think that many of these wealthy people only see the billionaires ‘ahead’ of them, and not those with less doing more. And as for the billionaires, well they have no excuse.

It saddens me that people who are the most privileged do not have the charitable hearts that so many less privileged people do. The wealth inequity in our world is grotesquely skewed and now more than ever is the time for the privileged wealthy to do their part. Will they?

7-Sins-Collage

Here are the 7 Sins, and here come the 7 Virtues?

In January, I wrote a series of posts called the 7 Sins:

  1. Gluttony
  2. Envy
  3. Pride
  4. Lust
  5. Wrath
  6. Greed
  7. Sloth

I plan to write a series of 7 Virtues over this coming week, in addition to my regular daily posts, then auto post them the following week while I take a social media break. I will be deleting my Twitter, Facebook, and Instagram Apps off of my phone and only using my phone or a laptop with notifications turned off for my sabbatical. On that note, if you regularly read this blog from my Facebook Story or Facebook Timeline, please ‘Like’ this FB page, because during my social media break I won’t be manually adding the posts to my Story or Timeline. You can also get Daily-Ink by email.

Here are 7 Virtues that I am thinking of writing about: (The order might differ.)

  1. Love (including Chastity and Loyalty)
  2. Discipline (including Patience, not just Diligence or Temperance)
  3. Empathy (including Compassion)
  4. Integrity (including Honour and Courage)
  5. Kindness (including Charity),
  6. Humility
  7. Forgiveness

Am I missing anything? Any suggestions?

7 Sins, Part 6 – Greed

Greed is the selfish desire for more. The desire for more can overwhelm and overpower the original desire. Greed can be blinding and all-consuming. Baboons can be captured by making a small hole in an ant hill and placing seeds within it. The baboon will grab the seeds making its first too big to pull out of the hole, but the baboon won’t let go of the food to allow escape. This is a good example of how greed can be blinding.

We live in a greedy society. ‘More’ is sold as better. ‘More’ is more satisfying. ‘More’ will make you happier. A bigger plate, a second item at half the price, a free gift with purchase, a second helping… more will satiate you with more power, more wealth, and more material things.

The band The Flying Lizards have a song titled Money, in which the main verse says, “The best things in life are free, but I want money.” This materialistic desire is easy to buy into, and ‘the best things’ can be seen as only those things money, power, and fame can provide. But at what cost?

Greed does not get satiated. It does not have a happy ending. Greed will always leave you wanting more. It is selfish and unfulfilling. It is empty of satisfaction and undermines happiness. Greed will always leave you wanting more…

7 Sins Series

  1. Gluttony
  2. Envy
  3. Pride
  4. Lust
  5. Wrath
  6. Greed
  7. Sloth

The ugliness of greed

“We’re in Business of Shareholder Profit, Not Helping The Sick” ~ Turing Pharmaceuticals’ CEO Martin Shkreli

When I read this article about pharmaceutical companies that acquires drugs and increases their price for shareholder profit, it made me think of how many different ‘services’ actually focus on profit, and not the person who uses the service. Banks make huge profits off of the money you borrow, but shareholders benefit while you get almost nothing for putting your saving into that bank for them to lend to others.

Insurance companies help you prepare for the worst, until they have to pay you, then some of them are more interested in giving you less than you deserve. Profit and greed can work against you, when it should be working for you. The best example I can think of is real estate agents. They have your best interest up until a certain point, but the sale is more important to them than getting you the absolute maximum… when they are making $12,000 on a sale, it’s more valuable to them to get that money than to get you $5,000 more, which earns them just $100 more. Your agent’s advice of “I think you should take it,” might actually come from an agent thinking ‘I don’t want want to lose this sale now, and have to work more, in hopes of getting you more money in a week from another buyer. ‘This is the best I can do for my client’ might succumb to, ‘I have worked hard enough and I’ll take the profit now.’

Profit wins over common sense, over decency, over advocacy. It’s why cigarette companies exist even when they know their product causes cancer. Why vaping companies target children. Why pop companies add more addictive sugar into their already sweet drinks. Sell more, at all costs to the consumer. This is neither a healthy nor a desirable model to live in.

“Earth provides enough to satisfy every man’s needs, but not every man’s greed.” ~Mahatma Gandhi