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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (33)	2/15/2004 7:15:21 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 116555

case in point, a college buddy of mine in Ohio he worked in the insurance industry for 22 years, one firm they got bought out by a giant in the industry in the next several months, big cutbacks my friend lost his job (they probably replaced him someone 15 yrs younger, half the salary) 11 months later, he found another similar job his pay cut was 30% and he was thrilled to get it now, 9 months later, after proving himself, they are not exactly making good on a promise to restore his pay level why bother? he is replaceable he is not planning to rock the boat they will probably give him a 10% raise and tell him the hike is 2-3x what anyone else around is getting he is acting like a team player, since two kids in college the important change I note is intangible they have lost his loyalty, his heart, and can only claim his mind I reckon this undermines worker productivity some regard worker insecurity as a great motivator I think it is the opposite workers stand around and talk about their fears, worries in two years he might be an IRA millionaire but somewhat cash poor strange times I believe his story is common / jim