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The banks and other corporation’s actions are telling us just how bad things are really going to be by devising serious cuts in their staffs.
That's true to some extent, but do also think that merger and acquisition plays a big part in the case of BofA, and the bad economy is no longer masking the huge inefficiencies that exist. Yes, some of the reduction is due to fluid economic news, but there is also the fallout of a business plan that assumed that the real estate and stock markets would continue to appreciate, and the desire to be bigger and bigger by buying out competitors.
I think everyone working in the banking industry should be forced to take a 85% pay cut to get their pay scale in line with those that actually work for a living.
Really? Everyone? Even the tellers who make a measly $8 an hour? Niiice...
Quote:
Originally Posted by RedNC
I think everyone working in the banking industry should be forced to take a 85% pay cut to get their pay scale in line with those that actually work for a living.
I think everyone working in the banking industry should be forced to take a 85% pay cut to get their pay scale in line with those that actually work for a living.
See...that kind of thinking drives me crazy and was discussed in one of the other hundred threads on the auto bailout.
Who are these people that in your opinion "actually work for a living?" My take of what you mean is that unless you're a blue collar factory worker or someone who swings a hammer, you don't really "work." I'm here to tell you that using your brain can be so much more stressful and tiring than a day of digging ditches. At least you can go home and leave your factory or construction job there.
There are many days where I would gladly trade my white collar job for a job with physical labor... to reduce the stress and leave my job at work.
See...that kind of thinking drives me crazy and was discussed in one of the other hundred threads on the auto bailout.
Who are these people that in your opinion "actually work for a living?" My take of what you mean is that unless you're a blue collar factory worker or someone who swings a hammer, you don't really "work." I'm here to tell you that using your brain can be so much more stressful and tiring than a day of digging ditches. At least you can go home and leave your factory or construction job there.
There are many days where I would gladly trade my white collar job for a job with physical labor... to reduce the stress and leave my job at work.
I’ve worked both white collar and blue collar jobs, but I don’t know any blue collar workers that think they are overpaid or that anyone working any job should get a pay cut. I do, however know a bunch of white collar workers that think anyone that isn’t white collar is over paid and should have a pay cut.
The fact that you think that white collar workers are the only ones using their brain is laughable. Maybe you should try working a blue collar job before you slam something you know nothing about. Or, maybe when your job goes away you will have no other choice.
I wonder why they opted to purchase shares in China Construction Bank with part of their $25 Billion rather than keeping on their employees or restructuring their debt?
If they bought a little over 19 billion additional shares at 36 cents....that's a lot of money.
I think most people having to live on minimum wage also get government assistance for food, medical and sometimes housing assistance....plus the reduced Day Care program. It would only be an additional burden to knock these people's salaries down too low. They need at least a reasonable living wage. I'm not sure what that amount would be. Maybe someone else does.
Hey Red, someone **** in your cornflakes this morning?
Not everyone in the banking industry is getting rich, far from it. That's like saying that everyone in the housing industry should take massive paycuts, including all of the real men swinging hammers.
What's that saying? Better to be quiet and be thought of as an idiot than open your mouth and remove all doubt.
Quote:
Originally Posted by RedNC
That’s right every last one of them. And if they are forced to the minimum wage level then they will know how many Americans feel.
Hey Red, someone **** in your cornflakes this morning?
Not everyone in the banking industry is getting rich, far from it. That's like saying that everyone in the housing industry should take massive paycuts, including all of the real men swinging hammers.
What's that saying? Better to be quiet and be thought of as an idiot than open your mouth and remove all doubt.
Maybe you should have remained quiet, now we have no doubt about you.
That’s right every last one of them. And if they are forced to the minimum wage level then they will know how many Americans feel.
You're directing your anger at the wrong people..those "tellers" are Main Street people and had nothing to do with this.
Direct your anger at the CEO's and your government officials.
Their pay went up almost 10x what white/blue collar workers got.
They got millions in bonuses and stock options. We got slashed pensions and the right to fund our own pensions.
Blue or White collar, it doesn't matter..we are all going to pay for the greed of a few at the top.
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