Wasting Money

While I am a big football fan, I have to question the management and ownership of the New York (or should I say Florham Park / East Rutherford?) Jets for their recent spending spree. Even non-fans likely have heard about the trade that brought Tim Tebow, the quarterback with just a handful of starts in the NFL, to the Jets last weekend.

Not only did the Jets miss the fact that he was owed a $5 million bonus which they ultimately split with the Denver Broncos as part of their trade agreement, they ended up giving $500,000 to Drew Stanton to get rid of him. Stanton is a seldom used third string QB who signed with the Jets about 2 weeks ago then asked to be traded when Tebow was acquired. When the Jets signed Stanton (who did not play in a single game last season at Detroit), they agreed to a $650,000 one year salary plus the signing bonus. In order to trade him, they ate the bonus. So, in addition to Tebow's salary, they just paid out $3 million in bonus dollars!

I wonder what the hundreds of people who have been laid off in recent years by Johnson and Johnson have to say to Woody Johnson, owner of the Jets. Hopefully, everyone who has been impacted by J+J's cutbacks will not spend any of their precious money on Jets tickets, products, etc. The only way to send a message to professional sports owners about their spending habits is stop giving them additional funds from our pockets.

This might sound harsh because it is meant to come across that way. With scores of people struggling to pay mortgages, procure health insurance and educate their children on reduced wages, I cannot condone the spending going on in professional sports today.

Quick Thoughts

While enjoying a short lunch break at my desk today, a few thoughts crossed my mind.
~If you have been out of work for two or more years, you would be nuts to reject an inquiry about a job paying barely 5% less than the job you were last employed at.
~Many companies are starting to tie bonus plans into compensation packages. It is fair to ask what the average award will be for the current year to get a rough idea of what you might expect.
~Be ready to show a few accomplishments from each of your last 2 or 3 jobs if asked for them by potential employers.
Lunch break is over! Have a good week!