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Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:03

@mowaten
from 500K to 864K the raise is 364K. plus the 18% on the 364K which employers will have to pay to the failing SNSS, the total of the cost of the raise an employer will have to pay approaches the initial 500K. I hope this is clear.
now for the stupid litlle demon comments which are again insults: I have been an owner of companies for several years now (over 30 years) and have over 250 employees for your information.
it is sadening to see a short sighted little brain like yours even discuss such ecenomical matters as if you understood anything about the subject.
such a hike is unbearable to the majority of employers, and will definately result in major lay offs with many companies moving out of the country.
why would anyone work in a country where they cannot make money out of their investments? this is the ABC of economy which is apparently beyond your comprehension.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:10

an alternative many are discussing these days would be moving to cyprus which is close by. they have economical stability while they are reasonable: they have just decided to reduce wages to facilitate the life of working businesses.
these are extremely hard eceonomical times which might lead to a World War as the previous 2 ones. extreme economicalsituations have led to WWI & II.
furthermore, our banking system (which is still the real strong value for our economy) is now being targetted by the west in punishment for the syro/iranians actions. so what is there left to make entrepreneurs really stay and invest here?

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:13

To All the guys posting here:
for once keep the rhetoric outside this discussion as this is a serious matter.
think beyond the stupidity of M8/M14 for once as this matter will affect all.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:40

thanks rudy. let me add to the list simple matters that can enhance things in this country:
-remove interaction totally with public sector employees through automation of procedures, thus removing all middle men costs.
- effective transparency on government deals: ministers and their associates should not interfere in RFPs and tenders allocation.
- dismiss all employees who do not show to wrok like at the casino and other institutions.
- ....
so many things can be done to remove the extra charges all of us are paying for nothing.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:48

@mowaten
first when i posted with a smiley that comment it was only M8 comments that were out of line, afterwards posters of M14 started replying to the stupid comments.
back to the calculations: yes employers were paying 18% on the first 500K, but not on transportation and so forth, however now they will have to pay on those too. so to be precise the hike is 364k +( 364 * 18%) = Approx 429K.
this is around 86% hike for the employer. so saying nearly a 100% hike is not totally wrong, as there many things that will affect the cost of an employer following this hike (it is not just about salaries).
not a single employer had in mind such a hike, and most cannot afford it.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:55

Clarification: no most employers do not pay the minimum wage, but overall the hike percentage will affect the economy through a rampant inflation that the costs of operation for an employer will end up reaching this percentage.
these are normal economical matters: each action has a reaction....
so this subject will end up hurting employees more than entrepreneurs, as discussed above, as it is not worthy to invest in such conditions.
and please for those who want to talk about the big investors and companies making millions daily, please note that most businesses are not from that category.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 16:59

moreover please go to the webiste of the LBC which hosted today Fadi Abboud (M8 minister from tthe FPM) and hear what he said about this, most probably you are more likely to believe him over what I am saying. :)
this is really beyond the day to day bickering guys. this is a make or break situation for our economy.
I for one am seriously studying closing shop here and looking for alternatives outside for good. any business that moves will not return :) and the jobs lost here will never be recovered.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 17:30

this was expected thunder.
again, this is not a political issue to be dealt with so lightly like this government did!
at least leave economical matters to people who understand them, so they are dealt with properly.

Cabinet Adopts Nahhas’ Wage Hike Proposal in Tit for Tat Row

22 December 2011, 17:31

guys, I propose to move the discussion to the new post of annahar should you want to:
http://www.naharnet.com/stories/en/24155-economic-committees-govt-wage-hike-is-major-blow-to-economy

Nahhas Describes Wage Hike Approval as ‘Accomplishment’

22 December 2011, 17:34

@mowaten
I am surprised of your above comment, as I thought you were a bit reasonable.