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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Gary H who wrote (15952)	10/19/2002 10:28:17 AM
From: Ahda	Respond to of 81272

<I've heard wages are actually rising in the US.> I agree with you Gary it is rather like saying well six of my friends are doing very well and six are on the skids. You reduce head count and can afford to increase wages for those you keep. The increases are nominal compared to the cost savings. >>Reuters Four of five United unions reach wage cut deal Friday October 18, 11:01 am ET CHICAGO, Oct 18 (Reuters) - The pilots union at UAL Corp.'s (NYSE:UAL - News) United Airlines on Friday said four of the carrier's five major unions have struck a deal with management to provide "well over" $1 billion in annual cash labor savings. >> Here there is no choice but to reduce wages and example of employees and management working together. The Yen is moving downward to the US dollar. This will act as a temporary aid to assist in debt payment for companies in Japan who sell to the US and Europe providing they are financed in YEN by the BOJ. As the Yen drops in value to the US Euro the ability to pay off debt increases as long as the corporations facilities are based in Japan and perhaps China. In China the labor rate is so low the YEN can bare quite a large fall before it interferes with profit structure. This is negative for companies who operate in the US but it is positive for those who operate in Japan. The exception would be if the facilities in the US were financed with US banks. With a lower YEN offshore operations are far less costly and Japans economy could improve. It is only a matter of efficiently organizing operations as well as financing.