Freddie Mac, Fannie Mae Keep Date With Six Flags
By David S. Hilzenrath
Freddie Mac and Fannie Mae are getting ready to go on another roller-coaster ride.
The two companies have rented the Six Flags amusement park in Largo for separate employee appreciation events next month.
"The purpose is to reward employees for their hard work, and we felt that was particularly important given these challenging times and the fact that our employees, you know, have in fact been working very hard," Freddie Mac spokeswoman Sharon McHale said.
The mortgage funding giant arranged the event last year and couldn't get its money back, McHale said.
Since then, the stock prices for the two companies have plunged and the government has put in place the framework for a potential taxpayer bailout of the companies.
Fannie Mae spokesman Brian Faith said the District-based mortgage finance giant canceled its annual holiday party but decided to move forward with a family picnic in mid-September for its 6,000 employees after booking the Six Flags park months ago.
Freddie Mac's senior management considered canceling the event in light of recent developments but decided to go ahead as planned, McHale said. In a recent message to employees, executive vice president for human resources Paul G. George wrote that employees and managers at all levels had offered an outpouring of opinions. McHale relayed this excerpt from George's comments:
"After taking these views into consideration, the management team determined that, now more than ever, the Six Flags family day for employees, their families and work colleagues is important because we recognize our employees continue to work hard, are dedicated to the company, and are focused on ensuring we serve our mission as we navigate these challenging times."
Each employee is invited to bring his or her children and one other guest. The company, which is based in McLean, has about 5,ooo employees in the Washington area.
Staff writer Thomas Heath contributed.
Please email us to report offensive comments.
Posted by: NWP | August 14, 2008 3:58 PM
Posted by: Anon | August 14, 2008 10:18 PM
Posted by: Anon | August 17, 2008 5:55 PM
Posted by: Jackson | August 21, 2008 6:01 AM
The comments to this entry are closed.