moneybox
columns
- Bair Market
The FDIC chairwoman's great ideas for preventing the meltdown of America's banking industry.
Daniel Gross
posted July 18, 2008 - eBay's Identity Is Going, Going …
Online auctions are past their prime. Neither the market leader nor Wall Street knows what that means for the future.
Chadwick Matlin
posted July 17, 2008 - Flat Is the New Up
The hot business catchphrase of 2008, and what it really means.
Daniel Gross
posted July 16, 2008 - The Bailout Will Be a Bargain
The cost of rescuing Fannie Mae and Freddie Mac will be way less than the amount they have saved American taxpayers.
Daniel Gross
posted July 14, 2008 - Farewell, Fake Steve Jobs
From one pseudonymous business columnist to another: You'll be missed.
Stanley Bing
posted July 14, 2008 - Search for more moneybox articles
- Subscribe to the moneybox RSS feed
- View our complete moneybox archive
The Corporate Scrooge Contest ResultsAmerica's worst office Christmas parties, gifts, and bonuses.
By Daniel GrossUpdated Thursday, Dec. 21, 2006, at 4:41 PM ET
Our appeal for corporate Scrooges—tales of office parties canceled, miserly bonuses, and pathetic gifts—generated a generous response. Nearly 200 Slate readers wrote in, providing enough fodder for several episodes of The Office. We heard from employees of car dealerships, doctors, and small law firms, but also from blue workers at blue chips, including Burberry, Dow Jones, Goldman Sachs, Disney, Wells Fargo, and Wal-Mart.
The complaints fell into several broad categories:
1. The thought doesn't count. Several people described receiving bonuses and gift card items of defined monetary value that struck them as insultingly small. Two Wal-Mart employees reported that they received a holiday gift that consisted of a coupon good for 20 percent off a single item at the world's biggest retailer. One newspaper owned by McClatchy offered employees a $15 gift card to Dillard's department store, where $15 won't go much further than a pair of socks. Several people wrote of noticing bonuses of $25—pretax—tacked on to their year-end paychecks. One informant said that Cintas Corp., a uniform maker, offered employees a $25 Wal-Mart holiday gift card, but that the card couldn't be used to buy alcohol or cigarettes.
The winner in this category: A reader reported that his wife, a dental assistant, received a $30 certificate to the fancy clothing store owned by the dentist's wife, in which no item for sale was close to that price.
2. Useless, cheap merchandise. Universities seem to be particular offenders in this regard. The wife of an Indiana University employee recalls with disgust "a food basket filled with little paper cartons of dehydrated apple soup." Every year Duke University gives a Duke Holiday "Suncatcher," of a different campus building. And a former employee of Canadian printer Quebecor World recalls with chagrin receiving a "slightly damaged ornament" for Christmas. Le bah humbug!
The winner: A former employee of the firm that produces the Great Dickens Christmas Fair in San Francisco reports that the company departed from its tradition of giving modest cash bonuses and instead gave out white painters' caps with the words "Bah Humbug" stenciled in red.
3. Bait and switch. In which companies promise one thing and give another, or pair a meager carrot at holiday time with a large stick.
"When the CEO called me into his office to tell me about the Christmas bonus, I was genuinely surprised with the generosity," writes an employee of a thriving community bank in Florida. "When the deposit came into my account, it was 20 percent less than what he promised." Our Midwest correspondent reports that management of a food distributor in a small town in Iowa promised they would use funds raised from workers recycling soda cans to fund a catered holiday meal with door prizes at a local community center. But as the holidays approached, they shifted it to a "pot luck meal in the breakroom on a weekend." After complaints, management relented and offered a "snacks and punch reception."
The winner: A contract consultant sends word that the company to which he is currently assigned recently sent out an e-mail to some 2,000-odd consultants. The company would give away two $100 gift cards—to two of the brave souls who would commit to work 80 hours between Dec. 18 and Dec. 31. As our correspondent noted: "Hey, if you work Christmas, we'll put you in a pool of 2,000 other folks to maybe win a hundred bucks."
4. Devolution. Veterans of companies note with dismay the progressive scaling down of Christmas spirit. At a large marketing and printing firm, an employee recalls that Christmas 2005 brought a party on a boat. This year: a "casual snack" after lunch. An employee at the outsourcing firm Convergys recalls the following downshifting:
2004: $15 Target gift card
2005: $10 Publix gift card
2006: an umbrella with the company's logo
feedback | about us | help | advertise | newsletters | mobile
User Agreement and Privacy Policy | All rights reserved
- Today's Headlines
- 'Time' Publishes Definitive Obama Puff Piece
Fri, 18 Jul 2008 11:00:00 -0400 - Rain Told To Go Away In 1986 Returns
Fri, 18 Jul 2008 10:00:33 -0400 - McCain Addresses NAACP
Fri, 18 Jul 2008 07:00:06 -0400 - » More from the Onion
- Telnaes: Cheney Does the Hokey-Pokey
- Dionne: Al Gore, Thinking Bigger and Greener
- Gerson: Unthinking Environmentalists
- Milbank: John Ashcroft, Liberal Villain Hero
- Today's Headlines
- Do Rewards and Contests Help Smokers Quit?
Thu, 17 Jul 2008 22:10:40 GMT - Five Myths About Sleep and Insomnia
Thu, 17 Jul 2008 21:56:58 GMT - Mandela at 90: How He Shaped a Nation
Thu, 17 Jul 2008 21:16:20 GMT - » More from Newsweek
- Today's Headlines
- Celebrating a Centennial
Thu, 17 July 2008 21:57:33 GMT - Unpacking It In
Thu, 17 July 2008 21:18:16 GMT - The Obama Man Crush
Thu, 17 July 2008 16:26:20 GMT - » More from The Root

moneybox










