Countrywide hires PR firm to squash sleazy image

Having suffered a barrage of negative headlines while battling to shore up its finances and shrink its work force of 60,000 by as much as 20%, the nation's largest home-mortgage lender is launching a PR blitz aimed at repairing its reputation. And it starts inside the company.

For the demoralized employees who remain, the new campaign means wristbands with the phrase "Protect Our House" and pep talks promising to keep "amply" rewarding the most successful among them amid a struggle with the sharp drop in mortgage lending as defaults soar and house prices decline.

Oh, yeah. Employees are going to love wearing wristbands as they fear the next round of layoffs and their evil orange CEO laughs on his piles of hundreds of millions of dollars from dumping stock and as news reports expose their sleazy lending practices.

Anyone not wearing a wristband is the next to go!

No comments:

CalPERS Fail

Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...