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To: Bucky Katt who wrote (12437)	6/11/2003 5:12:24 PM
From: tsigprofit	Respond to of 13094

William, we see this also in the auto industry, among computer people. There is an incredible move to cut costs, on an ongoing basis. Many depts have their best employees on contract, instead of as direct employees. The company saves pension costs, etc., even though consultants are well paid. But, consultants / contractors can be the first to go in a major downturn. Contract employees saw a 7% cut a few years ago in pay, and some have no increase since then. On another subject, heard from my wife that her friend in NYC lives in a really so-so area, and is paying $ 2000 per month in rent for a small place. Just think - no mortgage deduction on the 24K per year. People like that - a couple - making maybe 60-70K nearly impossible in NYC now. She said it can be 8 bucks to get fastfood and a coke! t

To: Bucky Katt who wrote (12437)	6/11/2003 8:03:05 PM
From: James Strauss	Read Replies (1) \| Respond to of 13094

Jim, RE: job losses> New Recipe for Cost Savings: Replace Highly Paid Workers William: One would think that the highly paid salespeople are not an expense item for their companies because they bring in sales that pays their salaries and then some... Companies need to separate income producers from expense producers... With that said, many companies are putting on a show for Wall Street to show how they can cut expenses... Unfortunately those expense cuts represent real people with real families and real needs... Jim