5 types of business resources = land, capital, technology, management and labor. Just find out the amount of work (in $) coming in now vs. last year. If less work, something has to give because there is not enough money to support the resouces. In other words, close sites and sell real estate (land), reduce expenses (capital), sell product lines and patents (technology), and cut payroll (largest chunk of money is headcount). Everyone is in the same boat as far as layoff is concerned. Work to me is a string of 2-week tasks a company 5pay a contracter (employee) to do. Unless you have a written contact, the string can be cut by either party any time. This is reality vs rhetoric.
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My Granddad always went through life with this simple and truthful attitude about working. I have tried to live by it since 1977 when I started in Oilfield Service Industry. I don't know if it will help some people that have been let go recently (I was let go also). But it helps me. Hold your heads up.....This little passage from John Wayne in the McLintock movie in the 60's best explains my Granddads feeling between employer and employee.
George Washington McLintock: (Swings and McLintock and gets thrown to the ground) Hold that hog leg! I've been punched many a time in my life but never for hirin' anyone.
Devlin Warren: I don't know what to say. Never begged before. Turned my stomach. I suppose I should have been grateful that you gave me the job.
George Washington McLintock: Gave? Boy, you've got it all wrong. I don't give jobs I hire men.
Drago: You intend to give this man a full day's work, don'tcha boy?
Devlin Warren: You mean you're still hirin' me? Well, yes, sir, I certainly deliver a fair day's work.
George Washington McLintock: And for that I'll pay you a fair day's wage. You won't give me anything and I won't give you anything. We both hold up our heads.
Question - If a resource is an asset where does all that Goodwill that BHI is holding from previous acquisitions fit into all of this? Definition: "Goodwill is a special type of intangible asset that represents that portion of the entire business value that cannot be attributed to other income producing business assets, tangible or intangible".
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Yep. Agree.
Spam? No, I'm afraid the Mr. Professor is "right on" spot on explaining employer/employee standings.
Spam