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alstry (35.23)

Wage Cut....The New Unemployment!!!!!! Alstrynomics warned you this was coming....

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June 08, 2009 – Comments (5)

If you havn't received a paycut....expect one SOON!!!!

IF YOU CAN'T PAY YOUR RENT....YOU MIGHT AS WELL GET FIRED!!!!!!

(WSJ)

Pay cuts, rather than layoffs, have emerged as an alternative way for many companies to reduce labor costs as demand slumps during the recession.

If enough companies use pay cuts to avoid layoffs in the future, then the unemployment rate may no longer give a true reading on how workers are faring.

Employees, who have relied on pay raises to increase spending and boost their 401(k) contributions, would no longer be able to count on more cash in their paychecks over time. Even Social Security benefits down the road could be less than anticipated if annual salaries zig and zag every year.

Cuts in compensation are "more widespread now than in past recessions," said John Challenger, chief executive of outplacement firm Challenger, Gray & Christmas Inc., which tracks employment trends. Last week, Challenger reported that more than half of human-resource executives surveyed in May said their companies had instituted salary cuts or freezes in an effort to cut costs. That was up from 27% in the same survey in January.

5 Comments – Post Your Own

#1) On June 09, 2009 at 12:53 AM, alstry (35.23) wrote:

With wages being cut and if Benny B continues to "print" money causing the dollar to devalue.......

We will enter what is known as a INFLATIONARY DEPRESSION......

At this point we already have tent cities sprouting up across America, 600K elderly late on their mortgages, food banks running out of food, and 1 in 8 additional mortgages late or in foreclosure.....

add in inflationary depression.....we will likely have tens of millions of Americans on the street begging for food.....that is not trying to scare you.....just preparing you for what is not too far off if we maintain the same policies.

Let's use another example we know so well....if you don't prepare for a flood when a city below sea level is in the direct line of a CAT 5 hurricane......I guarantee you when it hits, there will be lots of bodies floating in the water......Alstry was actually on videotape giving this warning the day BEFORE Katrina hit.

If Katrina was a CAT 5.....this is a CAT 5000.

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#2) On June 09, 2009 at 1:13 AM, alstry (35.23) wrote:

THE BILLIONS AND BILLIONS AND BILLIONS.....of deficits

24.5 Billion for CA and likely to grow much more as high income earners leave the state......anyone been to Texas lately.....its flooding Californians.

$1 Billion for LA

Here comes Orange County:

“Newport Beach and Costa Mesa could feel the squeeze when Orange County slashes spending by about $1 billion this budget cycle. Everything from bus routes and subsidized health care for families faces cuts in the coming year, Orange County Supervisor John Moorlach said.”

“‘Costa Mesa is going to be hit a little harder because these things are going to affect the poor living in those areas,’ Moorlach said. ‘But there also might be some loan brokers and car salesmen in Newport Beach who are on food stamps too, there are a lot of people who have been hit hard in this economy.’”

ALL THESE CUTS MEANS WAGE REDUCTINS OR JOB LOSSES......

PREPARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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#3) On June 09, 2009 at 1:22 AM, alstry (35.23) wrote:

JUST SAY NO!!!!!  and who knows if you will get fired????

Members of the Boston Newspaper Guild rejected by a vote of 277 to 265 a proposal by the Globe's parent, New York Times Co., to cut costs at the unprofitable publication.

Times Co. told union leaders if the Guild rejected its proposal, the company intended to declare an impasse and impose a 23% reduction in wages to achieve the $10 million in savings. After the vote Monday night Times Co. sent a letter to the Guild stating its intention to implement the wage reduction effective next week.

Prepare!!!!!!!!!!!!!!!!!!!!  Wage cuts are on a tear.......

Somebody tell Deej that car sales should really pick up with all these wage cuts.....................................

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#4) On June 09, 2009 at 7:01 AM, leo744 (< 20) wrote:

Airlines are cutting total block hours that that make up the lines pilots fly.......essentially reducing their monthly income.......bottom line is it's a paycut!

Nice call Alstry!

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#5) On June 09, 2009 at 2:10 PM, jddubya (61.37) wrote:

Cut with the sensationalistic antics Alstry and get to your point.  Actually, just what is/are your points???????????

My point?  Well, your constant "prepare, don't fear" is getting old and just doesn't cut the mustard Alstry.  You dance around some kind of armageddonistic future but offer nothing but fear for your readers.  When pressed on how to prepare you offer the vaguest of answers.

My attitude?  I take what you say with a shaker of kosher salt.  Preparing for what you describe is not possible AND one would only be a fool to not harbor some fear if they believe in what you rant about.

Nervous?  Not me, not a chance.  As a software developer I have the luxury of working from home and have been blessed with employment opportunities that are constantly bombarding me.   Wage cuts?  I don't believe so in this sector.  Perhaps someone can provide some insight here.

Bored?  I am most certainly bored!  I'm sitting here thinking about how pitifully bored I am to be wasting my time reading your blogs and then responding to them...omg I need to get a life!!!!!!!!!!!!!!!!!!!!!!!!!  But until then I guess I'll continue to be baited by Alstry only to have him evade any questions that might offer some significance to the numerous blogs generated by Alstrydoumos

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