It was announced to all of us on Tuesday, that everyone, from the owner to the guys/gals that sweep the floors takes a 10% pay cut. I keep thinking... hmm.. when the pay cuts start, that usually means the beginning of the end... Fortunately I've been with this company for 15 years and I don't believe that will happen. They (owners) take pride in this being a family owned company and have been around since 1968 and I don't believe that they would let it shut down, even in the midst of this recession/depression (call it what you want). This is the first "drastic" move taken EVER in their history and it was tough for the big man to announce it - but he is very very grateful that his employees took it the way they (we) did - we understand and are all happy to have a job and will deal with the pay cut as best we can. We'd rather lose some than have none! But I know in the back of all our minds (about 700 or so of us) we still "wonder" .. and in this economy I'm sure you all know what I mean.
Anyway.. I froze my 401K - Heck that will give me back almost 1/2 of what I'm losing each week (and will save the company as they won't have to contribute their 50% of my contribution) -- plus it will stay safe. I haven't lost that much but I would rather not lose anything, so that puppy is being put on hold until further notice.
It's my chance to turn in my SUV early right now (Chevy's "pull-ahead" deal for leases) and I'm not sure what to do. I can wait as I don't have to turn it in.. it's just an incentive.. but I have a $400/month lease payment and I ALWAYS upgrade to a bigger/better vehicle and I can't afford that now. Well, I could but I still have that fear of the company closing (in the back of my mind) -- so then I wouldn't be able to afford a box to drive! So do I get rid of my SUV and get a stupid car that I don't like for a couple hundred bucks a months to save money?? Or wait it out.. Been tossing this one around for a couple days - looking at cars on dealer websites/official websites, etc.. I lease because I can't stand being in the same vehicle for long.. what to do....................
3 comments:
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Looks like you got blog spam. :)
Anyway, these are scary times. I guess I'm lucky that I work for county government where I am. My job is pretty secure. However, I hope your employer can just ride it through.
Personally, I've been driving the same Honda Civic for 10 years, and my wife's Honda was 20 years old and still going when we sold it. I like to drive vehicles until the wheels fall off. It's nice not having a car payment. But that's just my opinion.
wow... my first blog spam!!! LOL
You know Alvis.. one thing I've always done is get the vehicle *I* want... it's been my only.. hmmm.. how shall I say, luxury?? So it's tough for me to give up the one thing I've always spoiled myself on.. (selfish huh??)
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