The creepiest thing by far
The Wall Street Journal reported on the following very creepy business practice …
Suppose you have a bunch of executives who are owed deferred compensation like a pension.
Rather than keep money and have it count against your bottom line, use the money to buy out life insurance for your employees.
The life insurance premiums count as an investment so don’t hurt the bottom line.
The payouts, when your employees die allow you to pay out your executives.
Wolfram and Hart, the evil law firm from Angel, bragged that you had to sign a contract for all time, who knew that this wasn’t fiction.
So employers not only made money from you in life, but also made money off of your death.
And yes, your relatives got none of this money.
And yes, even if you quit the company or got laid off, the firm still made money off the premiums.
Wow. Wow. Wow.
Add comment May 20th, 2009
