Wednesday, August 04, 2004

Five day lay-off

Dragon Mood? -- bummed and cynical

I just got notified this morning of a five-day mandatory lay-off between now and the end of the calendar year for our entire department, including me. The only "good news" is that I get to choose when I am laid off.

And here is a news article that validates the reasons why my employer is having budgetary problems:

Asian automakers had a boffo July, with record sales for nearly every brand they make.
...
The U.S. companies were also still dependent on discounts, from low-interest loans to rebates, to draw consumers to their products.

The Chrysler Group, which has a lot of new models, said its incentives were roughly flat. But GM and Ford continue to lose market share even as they add to already sky-high incentives.
...
Almost three years after no-interest loans were introduced to revive auto sales after 9/11, consumers have come to take the big come-ons for granted.

"They almost look at 0 percent like standard equipment. It's like windshield wipers. . . . To go beyond the current level, in our view, is pretty much throwing good money after bad," said George Pipas, Ford's sales analysis manager.
...
Nissan reported its best-ever month in the United States, building on the launch of many light-truck models out of its Mississippi plant, which opened last spring.

Total Nissan brand sales rose 40 percent [my emphasis] to 80,935, and Infiniti brand luxury sales rose 14 percent to 12,362.

Toyota posted an 18-percent increase in July sales to a record 200,206, aided by almost 15,000 sales of Scion cars, the company's new brand aimed at the youngest buyers.

Rival Honda posted record July results for its mainstream Honda brand and its luxury Acura brand.
Just so I'm clear, I'm not mad about domestic automakers not doing well. I think they are fat, bloated, and out-of-touch with what consumers want these days. I don't think that working for a domestic automaker today is necessarily a good or secure place to have a job.

Meanwhile, S is being pushed to "buy" five days of vacation from her employer. I think we're going to put our heads together and plan a nice vacation for ourselves. Lay-offs and "mandatory" vacations, be damned!

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