Mike Pouraryan
"Time Will Tell"
The World Economy continues to be sailing through some rough patches. Some companies have made impressive moves to try and figure out how to retain staff. I have been quite impressed with what British Airways has tried to do. 7,000 British Airways employees have agreed to take unpaid leave to help preserve jobs. British Airways' CEO and his number 2 have agreed to work for no pay for the entire month of July. Although Willie Walsh, BA's CEO does not probably need the money, the point is that he is leading by example.
This committment to figure out a way to "share the pain" is on all fronts. The well-publicized cases of GM and Chrysler is one example. There is also the committment by the Fire Fighters in Sacramento California to freeze salaries for 30 months to help preserve 68 firefighter positions. Such creativity will be vital in helping to navigate through the crisis. Reports are continuing of an uptick in the economy, though. Time will tell!!!
