No Budget

Yesterday I attended my office town hall meeting. The news is that recessionary measures are being taken to counter the current economic crisis. All sort of costs including travel and trainings will be cut. As suspected there will be job reduction. Although not at the same scale like other industries, even successful and profitable companies are not immune to the current global situation.

I might be chattering a pointless subject for some here about current global doom and gloom. I am definitely affected. The whole situation in the office is changing drastically. If people feel they are immune, I wonder if they have really opened up their eyes. Now people here are wondering whether to take a proper holiday or not in the summer. Let alone buy big items such as car. All of this will have a domino effect on others. Only recently Toyota reported that they made a loss last year, the first time in their 75 years history! Or may be we are still beseiged with local problems, let alone have the time to think about the bigger and pressing problems all around us.

This brought me on the subject of fat cat bonus and high maintainance cost of civil servants. In UK, big bonus systems in banks are being scrutinised, banks' bosses were grilled in front of the Tresuary Select Committee yesterday. The plan by the banks to still award big bonuses at this particular time is inappropriate and morally insensitive. The same questions are being raised reagrding high pay and previliges given to civil servants, where the ever increasing perks are really draining the countries budget and not sustainable leaving behind very little to spend on projects. Does that sound too familiar.