Business | General
Grim jokes at giants' expense
The tumbling fortunes of corporate giants in the ongoing financial crisis have spawned some grim jokes at their expense.
- By Shakir Husain, Staff Reporter
- Published: 23:45 December 18, 2008
Dubai: The tumbling fortunes of corporate giants in the ongoing financial crisis have spawned some grim jokes at their expense.
As stock prices drop and sales suffer, some have decided to have a laugh at the pain of some of the world's most recognisable companies.
An e-mail doing the rounds of offices makes some tongue-in-cheek suggestions of new names for corporations in these tough times.
The US Dow Jones index, which has fallen more than 2,300 points since the September 15 collapse of Wall Street investment bank Lehman Brothers, is referred to as "DownJones."
The tip of the umbrella in Citigroup's logo is shown struck by lightning. The world's biggest bank, one of the victims of the US mortgage meltdown, has been forced to seek government assistance and plans to cut 52,000 jobs.
For the failed bank Lehman Brothers, it was too late before the US Government realised that only bailouts could save their free-wheeling capitalist system. Then the joke spread that investors were wondering if Lehman had other relatives, including Lehman Sisters, so that they could recover their money!
Tyre manufacturer Goodyear is having a Badyear and computer maker Apple has had a bite taken out of it by the economic crisis. For South Korean electronics maker LG, the downturn means "Life's Tough."
For most electronics companies, sales have been short-circuited by weakening consumer sentiment including well-known information technology giant, "Fiasco" Systems.
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