Tuesday, May 31, 2005
 
St. Louis Post-Dispatch Lauds Forgivable Loans to Executives
So let me get out my conceptual transmogrifier:
  • Forgivable loans to executives to buy stock, houses, and so on, bad.

  • Forgivable loans to executives to buy condos in the city of St. Louis? Good!
    Mandy and Kevin Kozminske wrote out a hefty check recently as a down payment on a loft condominium in downtown St. Louis. But her employer covered their closing costs - $5,000.

    Mandy Kozminske, an assistant vice president for U.S. Bank, qualified for the money through the bank's employer-assisted housing program. The $5,000 is a loan; it's forgivable as long as she stays on the job - and in the home - for five years.
Hey, U.S. Bank can do what it wants to retain its employees; however, I hope it offers $5,000 in free cash to every teller, janitor, and maintenance man in its direct employ. Otherwise, the Post-Dispatch displays that its commitment to the Little Man ends where its commitment to championing the movers and shakers in the city of St. Louis government/developer cabal begins.


- posted by Brian J. @ 9:41 AM
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