trying to do is just get it right where, you know, where are we in the business cycle and what‘s the likelihood of a turning point ahead. Now we‘ve already called the peak. I think when the dust settles, you‘re gonna see more negative quarters of GDP, they‘re gonna get revised down next year. And looking forward what we‘re very concerned about is any sign of a recovery, and that hasn‘t really appeared yet. So you know the bad news is we are in a recession. The good news is it‘s been kind of shallow so far, the not so good news or ongoing concern is that we don‘t see the foundations for a recovery.
Audio Script ．．．．．．．．．．． The global economic slowdown is hitting the auto industry hard. Demand for cars is down and car makers are having to cut costs. The latest casualty in this crisis is the U.S. giant Chrysler. It has just announced it will slash its white-collar workforce by a quarter. This means 5,000 employees will lose their jobs. Chrysler‘s CEO Bob Nardelli e-mailed his workers with a very gloomy message: ―These are truly unimaginable times for our industry. Never before have auto industry sales fallen at such a fast rate,‖ he wrote. Mr. Nardelli also had bad news for his blue-collar workers. Chrysler will also axe 1,825 workers at two of its assembly plants. This news will send a worrying message to other auto manufacturers around the world.
The worst could be yet to come for American car workers. There is a deal brewing that could see a merger between Chrysler and one of its rivals General Motors. This could lead to tens of thousands more job losses as the new company makes deep cost cuts. Mr. Nardelli suggested that more structural changes are in the pipeline. ―We cannot operate as we have in the past,‖ he warned. Chrysler is not in a position to restructure quickly. Ninety percent of its market is in the USA, and consumers are having huge problems getting car loans in the credit crunch. The company also depends on sales of its gas-guzzling sports utility vehicles. American car buyers today are choosing to buy smaller, more fuel-efficient cars.
Script ．．．．．．Announcer: A recent survey found that average salaries at U.S. companies have risen by less than 2% so far this year; that‘s the smallest increase in more than 30 years. In these tough times people may be afraid to ask for raises, but Jill Schlesinger, Editor-at-Large for CBSmoneywatch.com says it‘s all in how you do it. Good morning.
Jill Schlesinger: Good morning.
Announcer: This sounds like the fool‘s errand to end all fools‘ errands. I mean really, seriously, going in and asking a boss for a raise in these day[s] and times?
Jill: I know it sounds crazy but, and it‘s true, base salaries have stagnated; but the variable compensation that adds in bonuses, profit sharing options, that‘s actually increased to a larger part of your total compensation. So there could be ways to beef up your compensation.
Announcer: Serious question though. We‘re looking at phenomenal unemployment levels, hundreds of thousands of new people going into unemployment lines every month and in this atmosphere, I would be afraid to even broach the subject.
Jill: You have got to find the eye of the tiger my friend because you bring something to your organization and your boss needs you. That‘s the deal.
Announcer: Alright, so let‘s go through how to exactly do this and your first piece of advice is what?
Script ．．．．．．Jill: Talk face to face with your boss. You know, I can‘t stand when people say, ―Oh I e-mailed my boss.‖ You e-mailed your boss? It‘s like breaking up on a post-it note.
Don‘t do that. You gotta present your list of accomplishments; keep that spreadsheet handy and focus on the money you have saved or made for the company and the additional responsibilities you have assumed since the recession began.
Announcer: Because of these other downsizes and everything else you‘re doing all these other people‘s jobs, I‘m this much more valuable to you.
Jill: You are critical to this organization and here‘s why boss. Announcer: Okay, what other pieces of advice in this process do we need to be paying attention to?
Jill: Well, you know, when you‘re thinking about this, think about also other ways to get your compensation, right? So you may want to say, ―Hey, what about if I could get maybe a negotiated future raise?‖ ―I‘m not going to give you anything now,‖ your boss says; you say, ―Okay, how about in six months?‖ ―Okay, no,‖ boss says, ―No way.‖ Then set a date for your next discussion, set specific goals that you can achieve that will help you out; very important — the specific goal part.
Announcer: Right. Now, this eye of the tiger thing [Jill laughs], I‘m — no I‘m very serious about this — because you have to play this with a certain amount of finesse, right?
If you‘re in there as the squeaky wheel, sometimes the squeaky wheel gets grease; sometimes the squeaky wheel gets kicked off. Jill: And if your boss says, ―You know we cannot give you money; there are other things that you can get,‖ and that‘s really important; because you say, ―Alright, no money?
How about some other kinds of compensation — some more vacation; how about you pay for my education, get me a better title, how about I get actually a nicer office? Make my quality of life at work pretty much is stinky now, maybe it gets better.‖ These things do matter and you do have to go in believing in yourself.
Announcer: Alright, so all of these things are the things you ought to do. What should you absolutely not do?
Jill: Well, we are in a recession; I think you‘ve heard that? Announcer: Right.
Jill: So don‘t go in all cocky and don‘t use the rules of the past, the bull markets. Don‘t threaten to leave because no one‘s leaving really. Don‘t flaunt your other [offers] — Harry says to his boss, ―Oh, I have an offer from another network.‖ Well, you know what, maybe that‘s not the greatest idea and don‘t talk about how hard you work. Everybody is working hard. They all know you‘re working hard. Go in there, be confident and be clear about what you need and why you deserve it.
Announcer: Can we just set up like a 1-800 number so all the viewers can call you and kind of get this pep talk?
Jill: Baby, I‘m here for you. When you get your next contract, I‘ll do it with you. I‘ll coach your manager, okay?
Announcer: There you go, very good, Jill. Thank you very, very