Latest news from the PRC today ... senior execs taking average 50% paycuts this year to help their companies. Highest paid last year actually will accept only 1 yuan for this year's pay !!!
Normal employee cuts up to only 20%. And this is from profitable producers ...
Need I say more ?
Btw more breaking news from BJ ... Gov trial in effect for 5 major export-oriented manufacturing cities inc Shanghai, Guanzhou and Shenzen to trade / settle in RMB to reduce currency fluctuation uncertainties with USD and EUR.
If that aint another blow to the yanks, Russia is now also promoting new basket of currencies inc GOLD to replace USD as global reserve ... ie a PARTIAL gold standard for starters again !
Watch out USD ... watch out US Bond markets ... Puplava's "perfect storm" approaches. I better refresh my GORM so as to not stray too far.
Proaction will mean the diff between survivors and victims in the corporate world. Boards will need FULL shareholder support if they want to stay in biz.
U gotta make the right noises ESPESH wrt PR and seize the moment ... that message could not sink in at CMR and major opportunity lost, so now wasting time with politicos and lawyers whilst others will reap the benefits.
GOLD, URANIUM (and PALLADIUM) are gonna be HOT in mid term IMO but we need to be united to stay alive for the rewards. Full transparency and disclosure of intent are vital for survival. Hat in hand bros ...
Happy Easter ... almost forgot over here.
IMBOOC
(PS "no possie" atm but thinking about taking up all my rights ... wanna hear ARU's and directors' intents first taaa )
china execs pay reduced by up to half
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