The Dandelions

.. the mutual admiration and bashing society.

And The Ox Continues To Plough………

Posted by ErnieJean on December 3, 2008

How’s the economy treating you recently?

Our Malaysian government projected our economy to be still growing at 4.9% next year, although relatively lower than previous years, but still a growth nevertheless, right?

I’m definitely no Economist, but it doesn’t take a genuis to know most of us are understandably worried about where our economy is heading, especially since our Finance Ministry has not seen any competent economic genuises in control for quite some time now, if you know what I mean *wink wink*

Not sure about you guys, but despite the current global economic turmoil, I do think Malaysians may not get it as bad as the other financial giants and developed nations as we still have our commodity sector, which is still relatively strong, to tide us over and should be able to keep us sufficiently “oiled” to survive this current economic predicament, with our palm oil, rubber, timber and to a certain extent, oil exports.

Which should be sort of good news to the local companies that deal with such commodities, especially palm oil, right? I do think, to a certain extent, the same goes for almost every other businesses, especially during the 1st half of this year, where business transactions were roaring and profits rolling in……..I mean, just see how crowded the retail outlets were during weekends and sale seasons and mushrooming of mega-malls all over the country, and you’ll know what I mean.

So, why is it that, at the first signs of threats of an oncoming recession looming over our heads, these same employers, who have made all the profits they can possibly make to certainly tide them over for at least the next year or so, be so quick to join the bandwagon of “cost-cutting measures” and start cutting bonuses, increments and retrenching staff, most of whom would have had a hand in helping these employers reap in their profits?

The company that I am currently an employee of, a family-owned business under the control of a patriarch and his 3 sons, happens to be one of those that made a really “indecent” amount of profit from the recent hike in palm oil prices, so much so that the sons have awarded themselves with purchases of brand new Porshes, Ferarris and a brand new luxurious Villa. But at the same time, they inform their employees of zero bonuses and increments in view of the economic downturn, all announced with straight faces, while decked in brand new Rolexs, gems and haute couture. And to top it off, that some employees will also face the axe.

I’m certainly not begrudging the bosses for their lavish lifestyle or for enjoying the fruits of their forefathers’ successful labour, but it’s sometimes pretty depressing to see the selfish and self-centered nature of Man.

What is that sacrifice of one less luxury sports car, when the bonuses and increments would have made the day of one’s employees, who would depend on that miserable year-end bonus to pay for the “Back-To-School” expenses and in-coming festivals such as the Chinese New Year, and that miserable 3% increment to survive the yearly inflation which would definitely be more than 3%?

Yes, I know…….it’s very naively idealistic of me to expect otherwise…… but I have seen enough examples of employers appreciating the contributions of their staff, enough to try and keep them in their payroll and give them the bonuses and increments, even during the not-so-good times, because these bosses understand the predicament of the ordinary working folks…..and for that, they are quite aptly rewarded with the utmost loyalty from their employees.

But I suppose, like most folks would tell me after listening to my rant, that,  

THIS IS THE FACTS OF LIFE“…….

IT’S SURVIVAL OF THE FITTEST“…….

THE POOR BECOMES POORER WHILE THE RICH BECOMES RICHER“………and

THE OX PLOUGHS THE LAND WHILE THE HORSE ENJOYS THE HARVEST

A Dog's Life.....who said it's woeful.......

A Dog's Life........better retirement scheme than most of us do........

5 Responses to “And The Ox Continues To Plough………”

  1. BeiTahan said

    sigh.. tell me about it..my company has just announced that there won’t be any increment next year and no bonuses too.. how depressing..they’re so quick in “closing their back door”..:-(

  2. erniejean said

    BeiTahan,

    Know what’s as depressing?

    One of the sons of my big boss, who doesn’t think twice about spending a couple of hundreds on his nightly drinking sessions, actually saw it fit to retrench one of his staff who was just earning RM1K, as part of his “Cost-Cutting” scheme……..

    What is probably good for one’s two-night alcoholic binge, is another person’s livelihood.

  3. Lays said

    That’s the reality of capitalism. I wonder how many low / middle income earners are able to escape from it.

    Sad, but true.

  4. Cherubim said

    I’m very lucky. The bosses are patient, kind and thoughtful. They have their days lah, like all of us but not a day goes by that they didn’t go the extra mile to show how much they value the employees, little things like personally making sure the pantry’s well stocked for the staff’s snacks, fixing the machines needed by the lowlier employees so that we can finish our work, random teh tarik sessions just because.

    ^_^

  5. sinnerconman said

    The price of commodities is down about 70% especially palm oil and crude oil. The price of 3 major brands like 5L helang, neptune, and buruh, still cost about RM14+ and other house brands from hypermarkets cost a ringgit less. Moreover we have about 2 tons of palm oil in our stock and the government in dreamland is claiming that soy oil has a premium of about US$400 which is US200 more than normal. Unfortunately the government in bolehland is waiting for “more orders” when actually there are more cancellations the reason being the high contract price they signed earlier and now the new “buyers” are not able to get letter of credit from their banks because their banks need bailout. The government should meet with those in the trade and make a one time offer at a price of, say, RM10 for the branded 5L cooking oil for a period of one month and encourages consumers to stock 5-10 bottles i.e. 25-50L and even much more for those in the frying and cooking businesses including those goreng pisang or ayam or ubi on the road side and these traders have big buying power. I hope the White Hairir should study this simple proposal and stop accusing us of being greedy. Bite the bullet and cut loss and collect the almighty ringgit and at the same time lowering our palm oil stock. Malaysia will be losing or rather collecting about 30 billion ringgits less at the current price of palm and crude oil. USA and Europe are in recession and out leaders are claiming that our “Islamic Banking System” or whatever you call it – rose by any name smells … and cat by any color …catch mouse – will be spare. God help us.

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