Bonus posting

The first post in the year of the ox. And here's Hong Kong for you: The elevator at work has marble trim. And a cheap golden stuffed animal ox on top. That said, we were scheming one night how to block the security cam so we could steal this guy.

1) And, of course, everyone is talking about the economy. (Or, if you're a friend in DC, we talk about the crappy economy, and about how we are both going through physical rehab right now for various injuries, mine being a achilles tendinitis, and how we just want to forget the first month of this new year). The other night a friend - an analyst who got laid off in November from one of the bigger US financial firms that imploded late last year - stayed after I hosted a poker night so we could catch up on things. The conversation naturally shifted to the bailout and the news last week that billions upon billions were still paid to those in the financial industry last year, even though these firms had to be bailed out.
I won't go over everything said, but here's the highlights. First, it's called a bonus. It's not base compensation, but a bonus. Think of that definition; it's an extra, something on top.
Said friend defended it, with one of the reasonings that bankers have much better lobbying than teachers or union workers, and thus the government will never be able to force these firms to give up bonuses because said firms are much better at lobbying than teachers or unions, and thus will be lobby the government and prevent them from changing the way financial workers are compensated. No joke.
I tried to convince said friend that, well, maybe, since these firms are getting bailed out by taxpayers, they might not be able to keep things the same as they've always been, and maybe being a financial analyst doesn't entitle you automatically to bonuses every year of quadruple or quintuple the national average on salary. (Remember, this is the bonus, not the base pay.) Remember, some workers probably do deserve a bonus. Even in firms that implode, there are some people who do great jobs that get lost in the shuffle. But said friend was arguing the system as a whole probably should stay.
Ummm. No.
2) I ran into another friend on the street and asked how her new year was. She skipped joining her husband in hawaii over lunar new year because she had to go into work last thursday and friday. On thursday, she went in and found out she was redundant.
I asked her if she had to leave right away or if she was given notice. "Nope, it's a typical American firm, gone just like that," she said.
Then I asked her if she got a severance, as the tone of her voice made it sound like she didn't.
"10 months," she said.
She worked for a hedge fund. When she was let go, she got nearly a year's worth of salary. Maybe I should work for a hedge fund.

3) That said, I might get another reward working where I do, getting a trip to Paris. Details TK.

4) And my goal of working for the foreign service as my next job just got a little harder. I am on the state department's email list, and they just said the february test to join them has been fully booked. I'll give it a few years before I take it, methinks.


5) Because by then, my neighborhood should be fully gentrified, as soon as they clean up the grafitti around the corner from me, the first time I've seen it in my hood. Another mediocre restaurant has openend in my hood, a "French/Italian cafe" where two little cycle repair shops used to be. By my count, there are only two little repair shops left where about 12 used to be, replaced by this cafe, a local seafood shop, three bars and a small upscale grocery store (the only one of these that I regularly frequent.) Once a Starbucks opens up down here, the makeover is fully complete.


6) Finally, a few weeks ago I went on an arts walk in Fo Tan, where different galleries have opened up in industrial buldings. But the buildings still have industrial companies working for them, such as the one above, with the best name of them all.