Once-taboo pay cuts get hard look in this recession

The Minneapolis law firm Gray Plant Mooty held off cutting the pay of associate attorneys even as demand for legal work dropped, fearing its best prospects would flee.

[Hah]

It's kind of hard to feel sorry for someone who will be making 96k instead of 120k when I know people who've been out of work so long their unemployment has run out and they are at risk of losing homes. This, perhaps, wasn't the best example to highlight the story.

[tww]

Welcome to the Obama economy: no jobs, higher taxes, higher interest rates, etc. Things will only improve when Obama and his policies are long gone.

[PoorBoy]

This is our new reality. The global economy, where Ping Fang in China farts and we run with toilet paper. This is only the start to our economic restructuring. You can blame Obama or Bush all you want, but the truth is, this has been coming for decades through the diversification of our companies and looking for cheaper labor and supplies to increase our profits and stock options. Thanks to corporate greed and the greed of stock holders to get constant unrealistic double digit returns every quarter.

Thanks for the pay cut; at least I already lost my house so I don't have to go through that at the same time.