In the wake of positive economic news, and repayment of TARP funds, there are signs that all is not well with the economy this Holiday Season. There are reports out of the North Pole that Santa Claus, Inc. a popular non-profit manufacturer and distributor of toys, may not have sufficient cash on hand to fund its annual Christmas Eve mission, and may petition for a bailout.
Santa Clause, Inc., CEO, Santa Claus typically funds his operation through various merchandising and licensing deals. “Seven years old and up has been a market that has disappeared for Santa,” said Krystoff Kerluwicz, noted brand expert.
Sources indicate that Santa’s fundraising group has sent a letter to US President, Barack Obama, and various members of Congress, petitioning for a bailout. Protests have already begun in front of the White House with signs reading, “No Handouts 4 Handouts” and depicting both President Obama and Santa Claus holding a Nazi flag and speaking Arabic.
Senator Robinson Forntner (R-KY) addressed the North Pole Bailout rumors: “What we have here is an operation that has never turned a profit and is engaged in the act of giving all its capital away. Nothing more than Socialism in action!”
Congressman Joel Osnucky (D-OR) suggested that Santa Claus, Inc. will likely have to file for bankruptcy and emerge as a leaner operation. “Part of the issue, is that Santa Claus, Inc. has made too many commitments to provide health care for retired elves and reindeer. The company even paid for Rudolph, the Red Nose Reindeer’s rhinoplasty after installing headlights in Santa’s sleigh.”
It is expected that Congress will move quickly to save Christmas, but it may already be too late.