Wednesday, March 11, 2009

Great News and Bad News from the Company Meeting

Since yesterday was a company-wide meeting, I didn't expect to hear news that would specifically address my situation, and I was right. It was just the basic "State of the Union" address by the company prez.

Due to confidentiality issues, I can't go into details. But let's just say that my parent company was one of the few companies that bet on the housing market correctly. As a result, it made tons of money between 2006-2008. My parent company's investment portfolio is now focused heavily on capital preservation versus capital growth. Essentially, future earnings won't be great. Reading between the lines, it means that the company will continue to cut costs, which I assume, will include labor costs. Continued layoffs are on their way. But to be fair, the company has never given me any reason to believe otherwise.

The great news is, most (if not all) of the employees are getting a bonus this year. After the meeting, I learned that I'll be getting a very nice bonus. Hallelujah!

The bad news is, bonuses next year may be non-existent. But that's okay. All the more reason why I greatly appreciate what I'll be getting this year.

All in all, it was a good news day yesterday. Seems like the market also had a decent bounce.


Anonymous said...


Money Funk said...

Nice job on the bonus!

And of course the stocks would bounce back a couple days after I allocated some of it to a fixed income fund. lol! Murphy's Law knocks at my door again. :)

Sallie's Niece said...

Bonus, yay! I'm not sure if you're posted about this recently but how much of an Emergency Fund do you have going?

Sharon Rose said...

Hi there-thats a brilliant piece of news, I'm soo pleased for you!

jpkittie said...

that is definately fantastic news... especially for the time being :)

Miss M said...

Congratulations on the bonus! Hopefully they can hold off on layoffs too, if they're willing to pay out bonuses they must feel the company is OK.