poll: How have u been affected by d recession

[NinjaLite]

1. How u been retrenched?

 

2. How u had pay cut ?

 

3. Have ur workdays been cut?

 

4. not affected at all

[sICkbOi-dOt-cOm]

a)Pay cut - Revise in a years time

b)Colleagues being retrench and workload x2 if not x3

c)Buyer & customer close down eg, GAP,Chin Heng

[Dafanshu]

wonder if sti will hit below 1500.... everyday also red blood flowing.

[cougar]

looking for more biz for my moonlighting biz, anyone's company need outsource accounting? cheap cheap, very goodah.

[NinjaLite]

ya, d worse strategy is company first cut pay, den shorter workweek..

 

then cut pay again..

 

den oni they retrench ... by then d retrenchment package wld b peanuts cos d pay aareadi cut so much

[NinjaLite]

sure hit 1500 n below one la...

 

 

for those old timers..they sure recall Keppel Corp once fell below $1..during 1997

 

also NOL then was like $0.50

 

and 2nd board was literally filled wif "Penny" stocks

[hydrop]

The company i work in will start doing no pay leave and/or retrenchment from second quarter this year... dunno the details yet, but sounds scary.

[NinjaLite]

ya man...

 

my company doing 1 week shutdown each of month March till May...

 

imagine 2000 workers in electronics sector alone gone for Jan-Feb...

 

by year end dat wil b 24000???

 

if include Services sector etc...

 

d numbers wil b ....Gulp

[NinjaLite]

who..Even d Irish takes to d street to protest against d bad economy..120,000 of them..

 

understand from my colleagues ther, its veri veri bad...Intel, wyeth, many MNC retrenching , cut down/shutdown n move to eastern europe

[Throttle]

annual package dropped by 30%.

 

like i already said in an earlier thread of the same topic.

 

hang on, it's gonna be rough.

[NinjaLite]

annual package means ur year end bonus?

 

meaning ur base pay is unaffected ?

 

Micron Tech announces 2000 jobs cut at Idaho.... Tech sector reali gettin bashed tis time round

[Throttle]

annual package as in the total basic + bonus + etc.etc.

that means my taxable income in total.

 

so should i be happy that I'm paying less tax next year??? hahaha

[NinjaLite]

total package got cut... think its fair if we go tell our domestic helpers dat their pay wil b cut also ??

 

hearin dat more n more maids gettin laid off.....

 

i myself areadi stop havin one last Dec...

 

rather get a Gixxer n ferry kid to school myself den rush back to office.... $600++ for maid can areadi pay for a gixxer instalment, petrol , rd tax, insurance in a month...

 

plus now got an xcuse to Speed

[steel_headz]

Im still uncertain about my current job....

 

Outside so difficult to find job....

 

Ive been a yr try to find a new job till the recession came.....

[sICkbOi-dOt-cOm]

Read up the employer rights by MOM...

Lots of useful info...

[NinjaLite]

Spiderman sure can find job easily one mah..

 

how abt high rise building windows cleaner

 

DBS anaylst says 99,999 jobs wil b lost tis year ...Gulp!!

6% unemployment ah...

[NinjaLite]

tis is a veri informative survey...things r aint as bad as newspapers sensationalise..

 

61% of riders here haven feel d recession effect yet..dats good

 

but on d flip note....

 

areadi 11% of population has been retrenched

[motopsycho]

I retrenched myself last Nov!!

biz was so bad it was a torture. rather wind up.

short pain rather than long pain!

 

Most books recommend starting a business during recession. I know, But if you have the thought in your head please think again.

 

what do you guys think?

[cougar]

This recession estimated last 3 years. So if biz cannot tahan now, better wind-up, else u cld be paying 3 years of running costs without profit, thats a killer. BTW, this news is from Reuters hor, not crap news.

 

http://www.reuters.com/article/ousiv/idUSTRE51B45820090212

 

 

"Great Recession" seen lasting 3 years, experts say

 

Thu Feb 12, 2009 9:53am EST

 

 

Banks and economy to keep bears' grip on stocks

Bank fear sends S&P to worst-ever start to a year

Oil pulled lower by dismal U.S. GDP data

More Business & Investing News... By Walden Siew

 

NEW YORK (Reuters) - The current recession will last at least three years and possibly longer absent a revival in credit markets, according to investors who specialize in distressed debt and bankruptcy.

 

"This is going to be a three- to four-year disaster," said Michael Psaros, managing partner at KPS Capital Partners, at a restructuring conference in New York.

 

The United States is going through a "Great Recession," which will provide investors in distressed assets with unprecedented opportunities, he said.

 

"We are going to invest an awful lot of money this year," Psaros said on Thursday. "There is an inexhaustible supply of bad management out there."

 

KPS Capital, which manages special situations funds and private equity funds with capital exceeding $1.8 billion, largely sat on the sidelines last year. The firm is ramping up its investments this year, he said.

 

"We're just very excited about this year and next," he said.

 

Holly Etlin, a managing director at AlixPartners with 30 years of experience in restructuring, said financial distress will last three to five years due to a lack of liquidity in credit markets and lack of debtor-in-possession financing, or DIP loans, used by bankrupt companies to reorganize operations.

 

"Stuff has got to start moving off the bank balance sheets," Etlin said. "I talk to colleagues and friends who are just sitting on their money. Until banks start clearing off their balance sheets, they aren't going to be in a position to lend."

 

Etlin reported seeing very little bankruptcy financing and asked the audience of 180 participants if anyone in the room was doing any DIP loans. No one in the room rose their hand.

 

"That is not viable," Etlin said. "We see continued distress for three to five years."

 

Among potential investment plays, Etlin said consolidation in the media industry, particularly print media, may provide good investor returns.

 

Jonathan Pertchik, chief restructuring officer at WCI Communities, also said the ethanol industry as a burgeoning sector may provide some opportunities.

 

(Editing by Tom Hals)

[NinjaLite]

My take is...start a biz during tis recession id do-able...but must b sometin dat d Garment willin to provide u wif d loan.. so at least Garment help bear part of d risk...

 

but must wait til d commercial/retial property rental drop 1st...

 

now wif all those money grabbing REITS ..... squeezing every cents from retailers etc ..its hard to survive...

[Tyrian]

how it has been affecting me? tons of them.

 

1: recession hits and drivers are changing their routes to avoid ERP, hence making my every morning trip to the office more unbearable.

 

2: queues for non-luxury food gets longer during the lunch hour crowd. Even the on-going Macdonalds McValue lunch doesn't seems to help (malaysia having mcvalue lunch at RM5.95)

 

3: Trains get more cramped. Those who has successfully ditched their cars and switched to public transport are taking away the MRT seats meant for "environmental friendly" public commuters since day one.

 

4: decrease in shopping crowd makes my regular shopping more enjoyable (positive effect)

 

5: those who ditched their cars and switched to motorcycle has taken up more motorcycle lots meant for me, and other pro bikers since day one

 

6: more people are unable to pay their debts, therefore the authorities are tightening up the regulations, their make their problem become my problem. nw my credit limit is limited regardless of how many credit cards i own (btw, i don't own one)

 

7: more drivers are coming home earlier, taking up my usual parking lot

 

8: more people are abandoning their pets

 

9: my tyre cap got stolen

 

10: 4D queues gets longer for those wanting to make a quick buck, making the regular punters queue longer under the hot sun

[C.S]

on the reverse

i am garanteed my job until the economu recovers

i have a stable job now

 

 

WOOTZ

[NinjaLite]

Tyrian, i concur wif u on the 2 observations:

 

1. Housin carpark lots r reali more pack wif cars during wkends n nites... shows ppl dun go out as often...after 9pm hard to find a slot

 

2. 4D Queues indeed stretchin longer n longer...

 

but not oni 4d Q...

 

D queues at job fair also...

 

Read in d papers dat a woman attempted suicide at Holland V .when retrenched w/o compensation

[nathan_12]

my commission is very bad!!

[motopsycho]

Good stuff guys:)

Just to share

I helped out over the weekend at NATAS travel show.

Shocked out of my socks with the turn out!

The queue at the entrance stretched about 200 meters long.

most are serious bargain hunters and packages below $2k sold easily.

 

 

What do you guys think if we start a job matching thread?

I know of many keen bikers who are employers! this would help out our biker buddies who are affected by the recession. thats including myself!