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Supermarket.Hungary Jack wrote:Seriously? What type of business?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
"Profit", or "revenue"?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
TabascoElvis wrote:Ours is investigating an across the board 5% wage reduction, after just laying off just shy of 1000. One of our competitors has gone to a 4 day work week without pay, so I guess 5% is better than 20%. Our whole industry is in the tank.wart57 wrote:My company just announced that we will not get any merit raises this year. At least I still have a job.
Profit. My division of the company, there are quite a few other divisions, some didn't do as well, but we still don't get our merit raises.Popeye_Card wrote:"Profit", or "revenue"?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
If your company made 1 billion in profit, I don't think there's any need to cut raises this year...
$1 B in profit in the grocery industry probably translates to $20B in sales if one assumes net margins are around 5% (3% may be more accurate, which translates to $33B in sales). That is one big division.wart57 wrote:Profit. My division of the company, there are quite a few other divisions, some didn't do as well, but we still don't get our merit raises.Popeye_Card wrote:"Profit", or "revenue"?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
If your company made 1 billion in profit, I don't think there's any need to cut raises this year...
Yeah, that is a big division. Then again, US annual revenue for the grocery industry is apparently $400-500 billion.Hungary Jack wrote:$1 B in profit in the grocery industry probably translates to $20B in sales if one assumes net margins are around 5% (3% may be more accurate, which translates to $33B in sales). That is one big division.wart57 wrote:Profit. My division of the company, there are quite a few other divisions, some didn't do as well, but we still don't get our merit raises.Popeye_Card wrote:"Profit", or "revenue"?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
If your company made 1 billion in profit, I don't think there's any need to cut raises this year...
try 40% margin....Hungary Jack wrote:$1 B in profit in the grocery industry probably translates to $20B in sales if one assumes net margins are around 5% (3% may be more accurate, which translates to $33B in sales). That is one big division.wart57 wrote:Profit. My division of the company, there are quite a few other divisions, some didn't do as well, but we still don't get our merit raises.Popeye_Card wrote:"Profit", or "revenue"?wart57 wrote:did I mention my department contributed over a billion in profit to the company?
If your company made 1 billion in profit, I don't think there's any need to cut raises this year...
http://www.huffingtonpost.com/2009/02/0 ... 64544.htmlWall Street bankers, with their $18 billion in bonuses, private jets and gaudy conferences, are causing headaches for the GOP.
President Obama has proposed capping compensation for executives at banks that take taxpayer bailout money at $500,000. Republicans hate the idea -- a position that puts them uncomfortably on the side of people currently about as popular as armed burglars and subprime mortgage brokers.
Senate Minority Leader Jon Kyl (R-AZ) blamed the "tone deaf" bankers for creating the political environment that allowed Obama to call for a cap.
"Because of their excesses, very bad things begin to happen, like the United States government telling a company what it can pay its employees. That's not a good thing in America," Kyl told the Huffington Post.
Well christ, Jon, they don't have to take the money do they?Jocephus wrote:GOP's not happy with pay limits for CEO's using bailout money
http://www.huffingtonpost.com/2009/02/0 ... 64544.htmlWall Street bankers, with their $18 billion in bonuses, private jets and gaudy conferences, are causing headaches for the GOP.
President Obama has proposed capping compensation for executives at banks that take taxpayer bailout money at $500,000. Republicans hate the idea -- a position that puts them uncomfortably on the side of people currently about as popular as armed burglars and subprime mortgage brokers.
Senate Minority Leader Jon Kyl (R-AZ) blamed the "tone deaf" bankers for creating the political environment that allowed Obama to call for a cap.
"Because of their excesses, very bad things begin to happen, like the United States government telling a company what it can pay its employees. That's not a good thing in America," Kyl told the Huffington Post.