HK inflation to surpass 16-year high
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HK inflation to surpass 16-year high
Hong Kong’s ‘Scary’ 7.9% Inflation May Fuel Wages Even as Recession Looms. HK inflation to surpass 16-year high
Hong Kong’s inflation surged to the fastest pace since 1995, encouraging workers to press for higher pay even as the economy teeters on the edge of recession.
Hong Kong inflation has hit a 16-year high and economists warned on Tuesday it will worsen in the coming months as runaway housing and food costs besiege the economy.
The consumer price index rose 7.9 percent from a year earlier after a 5.6 percent increase in June, the government reported on its website yesterday.
Food costs in the city jumped 7.4 percent in July from a year earlier as pork prices climbed, yesterday’s data showed.
Private-housing rentals rose 7.6 percent in July.
Jul 2011 Index 106.5%
Vs
Jul 1991 Index 64.1%
This means we need to be earning 66% more than Jul 1991 salaries just to have the same purchasing power!
And bring back 10wks leave please.
So once the period of grace we have given the company is over. Let it Rip boys & Girls! Race you to the Top! Or are you going to join "management" in the race to the bottom, while enjoying some R&R behind "closed cockpit doors".
Come on, lets raise our game, which team are you on?
The New team has been picked today, lets get the new plan into action ASAP.
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Doesn't the agreed raise agreed by the Dragonair pilots look a bit pathetic now? we our already losing 3% of our new salary to inflation. How easily the meek capitulated to the company.
What chumps we have all been shown to be, and money grabbing chumps at that.
Initial gain but future pain.
How long did we sign up for ... ah I remember 3 years, none negotiable
What chumps we have all been shown to be, and money grabbing chumps at that.
Initial gain but future pain.
How long did we sign up for ... ah I remember 3 years, none negotiable
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crewsunite: I would be very excited about your enthusiasm regarding the possible 'new plan of action', but instead of this horrendous inflation number being addressed, effectively the company has reduced the salary by nearly 50% with the new joiners not receiving housing. Not exactly a hopeful sign that we are going to be enjoying a proper 'cost of living adjustment'...! Seriously though, the potential new joiners need to realise the exact situation they are getting themselves into.
The end of the A scale was a blow to pilot aspiration everywhere.
I really don't know what the AOA does. I'm sure there are good intentions but are there any results?
The best way to look at it is: If you have been a CX pilot, that looks very good on your CV. You should be able to go anywhere.
BA anyone??
I really don't know what the AOA does. I'm sure there are good intentions but are there any results?
The best way to look at it is: If you have been a CX pilot, that looks very good on your CV. You should be able to go anywhere.
BA anyone??
Last edited by Basil; 24th Aug 2011 at 12:34. Reason: Pruner PM'd politely suggesting my orig post a bit insensitive. Although I was quoting a manager, I have deleted the paragraph. Aren't I a nice chap?
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Doesn't the agreed raise agreed by the Dragonair pilots look a bit pathetic now?
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crwjrk: you are not a chump and probably neither are some of the guys and gals that may have voted yes for the pay increase - perhaps less idealist and more realist. Guess what would have happened if the DPA voted down the proposed pay increase? A) Management would have begged for forgiveness and offered everyone an additional 25%+ or B) They would have thrown a inter-office party, patted themselves on the back for saving the company even more money and offered you nothing. And the correct answer is...........
Last edited by Flying Phoenix; 24th Aug 2011 at 15:28.
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Maybe the DPA should have looked at what the FAA did to get what they wanted from management. This committee is just disappointment after disappointment
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Relax: The DPA committee are simply the voice of the pilots. They try there best. At the end of the day it's not up to the committee to get what you are looking for; it's up to the pilot group. I've said this before and I'll say it again: until each and every one of you (management excepted of course) is willing to go the full distance and ground tools, you will NEVER get what YOU think you deserve, you will only get what the company thinks you deserve.
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Management have the pilots running scared and the AOA timid. The recent pay negotiations are a testament to that, and not to mention the attitude of so many: "Well at least they offered us scraps (net loss due CPI really) so we should thank our omniscient masters!!" Or, as told to me by a colleague when discussing the same with a JFO one night: "Well they really didn't have to offer us anything so we should take whatever we can..."
And then what? No cause for salary claim for 3 years (??) and no ability to use CC in that same period as a pay negotiations tactic? Then less than 2 weeks later AHK announcement.....
Defeatist? Some defend that with "We have to fight the fights we can win". When one fighter has lost so many times then the decision to go back into the fray becomes less and less likely and with less and less conviction.
It seems too scared to do anything, lack of unity and lack of leadership. I did some reading on the QF situation recently. Bill-boards at all major airports, press releases, radio and TV interviews, in flight announcements, etc.... All that are sanctioned and paid for by their pilot body. Will they win? I hope so but at least their pilot body is seen to be very vocal and offers a very strong public statement.
Granted HK is a very different workplace environment to many other parts of the world, as the 49ers showed only too well.
And then what? No cause for salary claim for 3 years (??) and no ability to use CC in that same period as a pay negotiations tactic? Then less than 2 weeks later AHK announcement.....
Defeatist? Some defend that with "We have to fight the fights we can win". When one fighter has lost so many times then the decision to go back into the fray becomes less and less likely and with less and less conviction.
It seems too scared to do anything, lack of unity and lack of leadership. I did some reading on the QF situation recently. Bill-boards at all major airports, press releases, radio and TV interviews, in flight announcements, etc.... All that are sanctioned and paid for by their pilot body. Will they win? I hope so but at least their pilot body is seen to be very vocal and offers a very strong public statement.
Granted HK is a very different workplace environment to many other parts of the world, as the 49ers showed only too well.
