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I M P R E S S I O N S

 

The Bear Market Blues
A Musical About Corporate America

by Steven C. Day

ACT I

[The curtain rises, and the spotlight settles on a middle-aged man wearing a wrinkled suit. He is sitting in an office chair behind a metal desk.]

BILL WARREN: Hi folks, my name’s Bill Warren. Like a lot of other people, my family took a big hit in the stock market recently. Although I used to keep most of our money in the bank, all that talk about 20-percent-plus-annual-returns in the market finally got the better of me. I invested almost everything. My broker talked me into putting most of it into high tech companies. When the NASDAQ crashed, we were pretty much cleaned out.

I’ve had to push back my retirement plans. What bothers me a lot more, though, is that my daughter had to drop out of college for at least a year and get a full time job. Still, I guess in some ways we’re lucky. God knows my friend Stan has it a lot worse.

              The Light of Day

[The spotlight moves to the opposite side of the stage where a second middle-aged man, also dressed in a suit, is sitting on a stool]

STAN COOPER: I’m Bill’s friend, Stan Cooper. I used to work for a little company, you may have heard of, named Enron. Financially, it was a good gig. I pulled down a solid salary, my retirement plan was stuffed full of the company’s sky-high stock, and I had a little extra money that I personally invested in some other stocks.

You know, of course, what happened next. Enron’s collapse cost me my job and wiped out my retirement account. Then the downturn in the rest of the market did the same for my other investments. So here I am, 55 years old, broke and unemployed.

But this musical isn’t about Bill and me; we’re just your guides. This is a story about corporate America. And where better to begin than with my old employer, Enron.

Let me set the scene: It begins in the executive dinning room. All the big shots are there, including Ken Lay, the CEO. They have one thing on their minds — unloading Enron shares.

[The spotlight shifts to centerstage, where six impeccably dressed men are pacing around a formal dining table.]

KEN LAY: OK, everyone, let’s review the game plan one more time.

[The group huddles together and sings.]

"GOTTA DUMP THAT STOCK"
(To the music of “Gotta Stop That Man” by Frank Loesser from How To Succeed In Business Without Really Trying)

Gotta dump that stock
I gotta dump that stock fast …
Before it dumps on me
Big talk, big bubble,
Now I think we’re in a
World of trouble

Gotta dump, gotta dump,
Gotta dump that stock …

KEN LAY: All right, all right. Good job, boys. It’s time to go pump up the troops. Let’s get with it.

[A platform rises from beneath the stage, revealing several cafeteria-style tables. A dozen Enron employees are seated, having lunch. The Enron executives start clapping their hands and sing.]

"BUY ENRON"
(To the music of “Barbara Ann” by The Beach Boys)

Buy buy buy buy buy Enron
Buy buy buy buy buy Enron
(Buy buy buy buy buy Enron)
Oh buy Enron my dear peon
(Buy buy buy buy buy Enron)
Buy Enron

(Buy buy buy buy buy Enron)
That stock’s a hopin” and a poppin”
Hopin” and a poppin” buy Enron
Buy buy buy buy buy Enron

Went to my broker looking for a smoker
Said Enron’s hot you can’t touch it with a poker
Buy Enron
Buy buy buy buy buy Enron

Oh buy Enron it’s no con
(Buy buy buy buy buy Enron)
Buy Enron
(Buy buy buy buy buy Enron)
That stock’s a hopin” and a poppin”
Hopin” and a poppin” buy Enron
Buy buy buy buy buy Enron

[The Enron employees cheer as their lunchroom drops back down below the stage. Returning to the executive dinning room, the six men laugh, patting each other on their backs. They continue with their original song.]

"GOTTA DUMP THAT STOCK" - CONTINUED
Gotta dump that stock,
Gotta dump that stock . . .
Before it dumps on me.

Cooked books, big trouble
Busting open
Gotta act on the double
Gotta dump that stock
Gotta dump that stock


ACT II

[Bill and Stan are sitting in their respective seats on either side of the stage.]

BILL WARREN: As corporate scandals continued to spread and the market continued to tank, ordinary people started doing something they hadn’t done in years — asking questions about corporate practices. Before you can get any answers, however, you first have to fight your way through all the “patriotic” trappings. My God, these corporate big wigs have become a patriotic bunch, especially since Sept. 11. They can’t sell a jar of pickles anymore without first wrapping it in an American flag.

STAN COOPER: So in honor of this vigorous “Madison Avenue Patriotism,” our musical will now feature a patriotic medley.

[A black curtain rises, revealing 50 American flags planted on the stage. A group of men and women wearing "CEO" badges march in from either side and do a figure-eight routine before finding their places by each flag.]

"SEND THE JOBS OVER THERE"
(To the music of “Over There” by George M. Cohan)

Over there, over there,
Send the jobs, send the jobs over there –
They’ll take rotten wages,
And other outrages,
And never ask for raises
Over there.

So why pay, union pay,
When they’ll work, for a dime a day.
Jobs headed over, they’re headed over,
And they won’t come back because they’re over
over there.


"GOD BLESS THE CORPORATE USA"
(To the music of “God Bless the USA” by Lee Greenwood)

I’m proud to be an American
At least when I get off free,
Now of course it’s a different story
When it costs something to me,

And I’ll gladly move my money offshore
If that saves on taxes today,
While there ain’t no doubt I love this land
The Cayman Islands are also OK


"AMERICA (CORPORATE VERSION)"
(To the music of “America” by Neil Diamond)

Oil
We’re drilling for oil
In wildlife preserves
That we can now despoil

Free
We can pollute for free
Taxpayers pay
Bush will let us be

On the sea and on the land
We’re polluting in America
Never look back again
We’re polluting in America

***

Everywhere across the land
We’re polluting in America
Everywhere Old Glory stands
We’re polluting in America

It’s a dream that’s come true
We’re polluting in America
If you don’t like it screw you
We’re polluting in America

We’re polluting in America
We’re polluting in America
We’re polluting in America
We’re polluting in America

Today, today, today, today, today


[Waving sparklers, most of the CEO's exit the stage, but several remain behind to discuss serious issues.]

FIRST CEO: I’m really starting to get worried. After Enron and WorldCom, Congress seems to be getting serious about increasing corporate regulation. That could really cause us some problems.

SECOND CEO: Don’t worry about that. Sure, they may pass a statute or two, but there won’t be any meat to them. There are two little words that give us that guarantee: campaign contributions. Let me explain it this way:

"A FISTFUL OF MONEY"
(To the music of “A Spoonful of Sugar” from Mary Poppins)

For a …
Fistful of money keeps the regulation down
The regulation down
The regulation down
Just a fistful of money keeps the regulation down
In a most effective way.

[The remaining CEO's leave the stage, and Bill and Stan walk on in their place.]

BILL WARREN: Well, Stan, there you have it. Big corporations, not all, but a lot of them, cook the books, ship jobs to overseas sweat shops, use offshore accounts to avoid paying taxes and foul up our environment. And our political leaders don’t do a darn thing about it because they’ve been bought off by corporate campaign contributions.

STAN COOPER: Do you think things will ever change, Bill?

BILL WARREN: I don’t know, Stan, maybe someday, when people get mad enough.

STAN COOPER: Yeah, maybe you’re right. But I guess in the meanwhile, all any of us can do is to just keep on singing those bear market blues.

[The entire cast returns on stage and hums backup as Bill and Stan sing.]

"BEAR MARKET BLUES"
(To the music of “Freight Train Blues’ Trixie Smith version)

I hate gettin” that brokerage statement, boo-hoo
I hate gettin” that brokerage statement, boo-hoo
Every time I get that statement, I start feeling so blue

I told the broker man “get me out of this bind”
I told the broker man “get me out of this bind”
He said “little man, I can’t even get out of mine"

That’s a mean ol” market, leaving me so broke
That’s a mean ol” market, leaving me so broke
That is a mean ol” market that gave me such an awful poke

I’ve got the bear market blues, nothing I can do but cry
I’ve got the bear market blues, nothing to do but cry
I guess I’ll have ‘em ’til the day I die


CURTAIN FALLS
THE END



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Steven C. Day is an attorney practicing in Wichita, Kansas. His previous columns can be found here.

Related Sites
It’s hard to keep a corporate scandal straight. Fortunately, MSNBC has a guide to corporate scandals. Here’s an Enron primer: Understanding Enron.


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