"i, j, k" has been pretty much standard for iterators in C syntax languages -- which JavaScript, PHP, and a host of others are -- since 1972. If you do not recognize what those are for, you're probably in the wrong business. For some reason Pascal programmers will use "t, n, v" -- never found out why...
If it's a event callback, you KNOW what it's being passed, again why waste time saying event.
Whilst I do like verbose code, you have to draw the line at where you go from clear to just plain obtusely pedantic. It's the opposite of where some people go so cryptic you can't figure anything out, mistaking over-the-top obfuscation for being 'concise'.
So long as the practice is standard (i, j, k) or obvious (event on an callback for an event handler), I don't see the problem with it.
At the same time, "handleAction" is a nice big word, but VAGUE. If you called it "eventHandler" or "eventCallback" you wouldn't need to explain "e". Sometimes it's not about making everything verbose, it's about making the vague obvious in a manner that explains everything else!
Though minimizing the impact of variables like 'i' can be fun in JavaScript... check this out:
var allInputs = document.getElementsByTagName('input');
for (var i = 0, input; input = allInputs[i]; i++) {
input.disabled = true; // for example
}
As valid nodelist entries would never be loose false, it works... isolating our "cryptic" iterator variable to the "for" line. We wouldn't even need it inside the loop. I actually use this method a lot.