DBS cutting staff...

[Freestylers09]

i still tinking worst yet to come..dont know why

 

of coz hope is just a consolation

[Freestylers09]

what kind of units?

 

btw just curious..now investment bankers i tink get affected most..what will the banks relocate them?or chop also?

[Throttle2]

yeah thats right

[Throttle2]

CHOP

[Freestylers09]

http://www.washingtonpost.com/wp-dyn/conte...ml?hpid=topnews

 

[Throttle2]

there will be a lot of this kind of articles.

just like you and me in this forum, post here post there...

 

 

money finds its own equilibrium

[Cheekg98]

AIG is already half-dead before getting the rescue package ... so it will take a while before AIG will recover. But it will not be back to its past giant status ... so better not get anymore AIG/AIA insurance plans ... even car insurance

[Chongster]

yup, those who think property is self paying, just down small deposit, buy and rent out are going to be whacked upside down in the coming months.

 

i do worry for a friend, he got a property in 06, valuation up now, bank will lend him additional $ on TOP, which he wants to invest in stock market to take advantage of low prices now.

[Throttle2]

clearly, your friend is one of those who "slap their own cheeks until swollen just to look fat" type.

 

He may stand to gain a fair bit or he may lose all he's got.

either ways , it's his choice.

 

Nothing much you can really do except to forewarn him.

[Modykoh]

the first lot of retrench usually get the 'best' maybe 1year 4 1 month...as the 2nd phase , or 3 or 4phase of retench exercise , they will not get the same 1 year for 1 month...

 

if compy going into retrence, offer ur kindness...on the sad note...i did that and got some things..during the last downturn cycle...

 

friends got 1 yeard for 1 weeks down the few month later...eventually the compy sold cheaply to an indian company...

[Modykoh]

>>>Introducing Richmanson who drives a Cayman.

 

hehehee, you still ticle her with that..keke

[Modykoh]

my previous compy...during cny time...start issue retenchment letter...during jul adjustment exercise time, also start issue retenchment letter...

 

their message is very clear....

[Modykoh]

in econ down turn time...jump into marine industries...their econ cyc curve lagged 1-2 years...when ppl down their industries up..when the econ up, they see a down turn..

[oomph]

banks still making millions per quarter - its just profits downturn not losses. is the cut really necessary ? and of all banks DBS.

[Kenneve888]

It only shows that DBS has a lot if fats lor

[Xtrider82]

banks still making millions per quarter - its just profits downturn not losses. is the cut really necessary ? and of all banks DBS.

 

Maybe they haven't factored in other costs when releasing the data..

Or perhaps the profits aren't enough to fatten the wallets of the Senior Management.. Hence it's Chopping Time!

 

Plus banks are always first to hire during good times, and first to fire during bad times..

 

Fact of life if one considers employment with banks or financial institutes. Many people just think banks payout big money, but they fail to see that banks are the most merciless when it comes to cost-cutting and retrenchment.

Edited November 9, 2008 by Xtrider82

[Blackyv]

in layman perspective, that's not a right to do since many will become jobless especially in a time like this but in $$$$$ world, making $$$ and showing result is more important that "charity"......let's put it this way, if that ceo or any ceo didnt do that, it may affect they own multi mil annual package u know...... so, who do u think they care more??...

[Cheekg98]

if based on results, it is not justifiable for the cut ... they are still making good profit