OF THE
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"The windshield cracked suddenly and gave a huge bang. I looked aside and found half of the co-pilot's body was already outside the window. Fortunately his seat belt was fastened,"
... executives of big U.S. companies suggest that the days of most people getting a pay raise are over, and that they also plan to reduce their work forces further.So much for Paul Ryan's claim that, as a result of "corporate tax reform" in the 2017 tax bill, "on average, American families will see a wage increase of at least $4,000 annually" -- although...
... This was rare, candid and bracing talk from executives atop corporate America, made at a conference Thursday at the Dallas Fed. The message is that Americans should stop waiting for across-the-board pay hikes coinciding with higher corporate profit; to cash in, workers will need to shift to higher-skilled jobs that command more income.
Troy Taylor, CEO of the Coke franchise for Florida, said he is currently adding employees with the idea of later reducing the staff over time "as we invest in automation." ...
The moderator asked the panel whether there would be broad-based wage gains again. "It's just not going to happen," Taylor said. The gains would go mostly to technically-skilled employees, he said. As for a general raise? "Absolutely not in my business," he said.
John Stephens, chief financial officer at AT&T, said 20% of the company's employees are call-center workers. He said he doesn't need that many. In addition, he added, "I don't need that many guys to install coaxial cables."
Comment: A lot of extreme turbulence is being reported of late. From Fasten your seat belt - severe turbulence is on the rise: Has something changed in the stratosphere? See also: