http://www.forbes.com/feeds/ap/2009/03/11/ap6155146.html
Summary:
This article is about a resort that is planning to cut its employee wages. The name of this resort is Vail Resorts. They are playing to cut as much as 10 percent in order to reduce the cost to operate the resort. Seasonal employees will receive a 2.5 percent reduction and executives will take a 10 percent cut. This plan is expected to save resort $10 million annually. The wage reductions for seasonal employees will take effect after the current winter season and other employees will be on April 2. Vail Resort is also planning to increase the number of employees owning stock by giving them a stock-based bonus valued from 1.5 to 7.5 percent of salary.
Connection:
There is only one simple connection that I had made between chapter 16 and this article. It is wages. This article is basically talking about the wages; for example, cutting wages. The chapter that I am studying right now is on wages; therefore, there is a connection between the two. One difference between chapter 16 and this article is that chapter 16 never mentioned about cutting wages.
Reflection:
The recession had caused may business problem financially. Not just Vail Resort is cutting wages, but many companies in the world are doing the same, so they can reduce the amount of expense. If may even be a good thing for Vail Resort’s employees because at least they don’t have to lose their jobs. Many company in the world; especially car company, are laying off workers instead of reducing their wages. So I think Vail Resort’s employees are extremely lucky compared to the layoff workers. If the recession continues, more and more workers will have to reduce their wages.
Thursday, March 12, 2009
Monday, March 2, 2009
Accounting 12 -Chapter 15 Article
http://www.cbc.ca/money/story/2009/02/23/retail.html
Summary:
The article “December retail sales Tumble” is mainly about the decline in sales in Canada. Retail activity in December tumbled to its biggest drop in over 15 years. During December 2008, there was a 5.4 per cent sales drop which surpassed the 4.5 per cent sales drop seen in January 1998. Some say the cause of this massive tumble is because of a massive ice storm that hit much of Canada. Among all the provinces and territories, Alberta was hit the hardest. It was hit with a 6.2 per cent drop in sales. During this month the automotive sector’s retail sales fell 1.8 per cent. Sales at clothing and accessories stores fell 3.7 per cent. Other sales such as sporting goods, electronics, furniture, etc declined by more than 2 per cent. It is also believed that this decline may continue.
Reflection:
One connection that I had made between this article and chapter 15 is comparing financial data (which I have learned in section 15.2). In section 15.2, I have learned how to compare financial data by comparing the financial data of a company on two different years and see the difference between them. This is similar to what is described in the article. The reporter of the article is using the financial data of the sales of two different months to see how much the sales of December 2008 had declined by; therefore, it is similar to what I am learning in section 15.2.
Connection:
I believe that the recession affect the decline in sale because many people are afraid of the unstable economy. I also believe that the ice storm may have played a role in this declining, but as a big of a role as economic storm. Comparing financial data is extremely useful to all businesses. This gives owners an idea on how well their business is doing and how much progress they are making. Comparing financial Data can tell owners whether their sales, profit, expense, etc have increased or decreased compared to the previous year or fiscal periods.
Summary:
The article “December retail sales Tumble” is mainly about the decline in sales in Canada. Retail activity in December tumbled to its biggest drop in over 15 years. During December 2008, there was a 5.4 per cent sales drop which surpassed the 4.5 per cent sales drop seen in January 1998. Some say the cause of this massive tumble is because of a massive ice storm that hit much of Canada. Among all the provinces and territories, Alberta was hit the hardest. It was hit with a 6.2 per cent drop in sales. During this month the automotive sector’s retail sales fell 1.8 per cent. Sales at clothing and accessories stores fell 3.7 per cent. Other sales such as sporting goods, electronics, furniture, etc declined by more than 2 per cent. It is also believed that this decline may continue.
Reflection:
One connection that I had made between this article and chapter 15 is comparing financial data (which I have learned in section 15.2). In section 15.2, I have learned how to compare financial data by comparing the financial data of a company on two different years and see the difference between them. This is similar to what is described in the article. The reporter of the article is using the financial data of the sales of two different months to see how much the sales of December 2008 had declined by; therefore, it is similar to what I am learning in section 15.2.
Connection:
I believe that the recession affect the decline in sale because many people are afraid of the unstable economy. I also believe that the ice storm may have played a role in this declining, but as a big of a role as economic storm. Comparing financial data is extremely useful to all businesses. This gives owners an idea on how well their business is doing and how much progress they are making. Comparing financial Data can tell owners whether their sales, profit, expense, etc have increased or decreased compared to the previous year or fiscal periods.
Subscribe to:
Posts (Atom)