With the sequestration in full effect and no sign of any deals anytime soon, companies are finding ways to cut costs in order to make the hefty profits pre-recession by outsourcing, automating, and downsizing, but one company refuses to do so. The story of Avedis Zildjian Company sounds like something of a myth especially since in its 390 year history of cymgal manufacturing has never laid off a worker at least in recent history. Instead of laying off employees, the company retrains them for a new position when their jobs are automated plus offers incentive pay for increase productivity. The CEO Craigie Zildjian told NBC about the relationship with workers explaining, “It comes down to trust doesn’t it? You take care of us, and we take care of you.” Being the oldest family owned business in the U.S., the Zildjian company made cymbals in Turkey during the Ottoman Empire, then in Massachusetts during the Great Depression and can trace their history to Avedis Zildjian who was an Armenina alchemist whose secret formula for metals created cymbals with such an entrancing sound that he was invited to live with the sultan in the palace according to AOL jobs. Today, the facotry in Norwell, Mass., is run by 14th generation embers of the family and the Zildjian cymbals have been used by everyone from 19th century composer Richard Wagner to big band drummer Gene Krupa and Ringo Starr. The company currently controls 65 percent of the cymbal market with Craigie Zildjian as CEO and her sister Debbie Zildjian as vice president of Human Resources. The company’s commitment to retraining employees for new jobs is in stark contrast to employers who have cut back on training for decades which increased during the recession leaving only 1 in 5 workers with new skills from employer provided training in the past five years, according to a recent survey. For the past fifteen years, the company has offered 125 employees incentive pay for greater productivity and accuracy which has lead to only two months in 15 years where employees haven’t received a bonus according to Debbie Zildjian. This explains why so many employees are lifers who have been with the company for decades. Zildjian has been inviting music legends to test out their products and help them innovate for decades and to this day they send good tidings and birthday wishes to their artists on their twitter account which almost has 50,000 followers. The company has evolved with time as Craigie and Debbie Zildjian are the first women to run the company. The company’s success may also be due to the special rules for family management which requires as BBC reports that no family member can report to another, everyone must have job experience, college degrees are required, and no spouses allowed.
The tax package that Congress passed in the final hour of New Year’s Day will protect 99 percent of Americans from an income tax increase, but almost every person will still see a hit to their paychecks. That’s because the legislation did nothing to prevent a reduction in the Social Security payroll tax from expiring. Social Security is financed by a 12.4 percent tax on wages, with employers paying half and workers paying the other half. That was reduced to 4.2 percent in 2011 and 2012, saving a typical family about $1,000 a year. In the deal, that tax break — always intended as a temporary tax holiday — was allowed to expire.
Great just what we needed more mini-cliffs uncovered. The only reason they intentionally or accidentally let this expire is because Social Security went bankrupt 3 years earlier than it was suppose to, so all you people about my age and younger will be footing the bill and may never see any of this money. Thank you America! According to AOL jobs, workers earning the national average salary of $41,000 will be $820 poorer next year, with the cut greater the higher the salary up to $113,700. The people who make lower than this will really feel the pain, so I am sure we will see a rise in the division between classes the rich get richer and the poor get poorer as well as an increase in homeless.
I am glad someone is finally talking about this because it can only be avoided for so long and two months is too long. New Jersey Gov. Chris Christie (R) had a few choice words for House Speaker John Boehner (R-Ohio) and House Republicans Wednesday for not holding a vote on a Hurricane Sandy relief bill:
“There is only one group to blame for the continued suffering of these innocent victims: the House majority and their speaker, John Boehner. This is not a Republican or Democratic issue. Natural disasters happen in red states and blue states and states with Democratic governors and Republican governors. We respond to innocent victims of natural disasters, not as Republicans or Democrats, but as Americans. Or at least we did until last night. Last night, politics was placed before oaths to serve our citizens. For me, it was disappointing and disgusting to watch.”
The Senate has approved a $60.4 billion aid package to help New York and New Jersey recover from the storm, while the House Appropriations Committee has approved a $27 billion measure. Christie said at the conference that he would not accept the smaller package. A vote will be held Wednesday on two different measure involving the package now split into two. Many republicans were outrage over the house speaker not voting on this sooner and moving it to the back burner. If it is not voted on soon, then they would have to start all over.
Good for Christie and I do agree for once with this governor. Again our government not just Obama can’t seem to think of others before themselves. Anyone remember Katrina same thing there too. For being such an advanced civilization, we are really in the stone age. This should be the easiest decision we make as a country but our leaders can’t seem to get anything done.
And we thought we avoided the fiscal cliff. Well we avoided the major cliff but now we have some mini cliffs to deal with one to address is charitable donations. Legislation passed by the Senate late Tuesday night will limit the amount wealthy people can claim for charitable deductions on their taxes. While some say donors shouldn’t be motivated by the amount of money they can write off, others –- including some nervous nonprofits –- argue that tax breaks for charitable giving should have been left untouched in the deal.
This is ridiculous since if you want to help help without exceptions like a higher tax write off. Is this guy going to feel the crunch if he can’t deduct as much? It appears not just our government is selfish but other special interest like non-profits and the wealthy are trying to get in on the act. These people again need to realize that the people who are going to get hurt in this scenario are those people who need the help and let’s be frank the people these kind of people make money off of everyday.
It is about time they get nervous but in the end they might take a hit and find more ways to nickel and dime you for their services. The American people especially the older variety should be extremely worried about what happens when they can no longer afford the much needed healthcare. It is time we reform the whole system instead of bits and pieces. Universal healthcare anyone?
Really really important you read this article because we are all about to be screwed over by our so called government. This article will explain 10 ways your money will be affected if our government doesn’t come to a deal before Dec 31. Good luck to everyone because we are going to need it if no deal is made. The selfishness of certain government officials will affect the young to the old, the taxes you pay, the size of your paycheck, unemployment benefits, jobs, and government aid. I encourage everyone to get involved because this is what happens when we let the government dictate our lives and the only interest they have is their own.
My new favorite guy in this debate. I agree with this guy because the fiscal cliff affects 98% of the population of the US. The tax hikes will effect us all if they do not agree to keep the Bush tax cuts for incomes under $250,000. The saddest part because a few selfish people mainly Boehner the house speaker who refuses to work with the senate. This is why it is important America to be informed because we vote these people into office. The selfishness needs to end because their bloody feuds are now affecting all of us.
This is why I love Starbucks. More businesses and celebrity to be honest who have more pull unfortunately in the political arena should be speaking out about the Fiscal Cliff we are about to jump off of because for some reason our lawmakers and president can’t come together and put aside petty differences. I don’t care what party you belong to, but come one and grow up and make a decision instead putting forth your own agenda. People need to wake up and inform themselves because our leaders we elect are not.
Wow show some consideration for those of us who pay your salary and come to a decision. This is what I am talking about, the selfish and agenda fueled politics that is America now. These men won’t be affected as badly as the rest of us hard working Americans. IF they don’t fix the alternative min tax then see your taxes spiking and owing more. Tax season may have to be delayed or even worse don’t expect to see your refund for a while.
Very interesting idea from unlikely place two billionaires suggest an estate tax for the wealthy that would significantly increase revenue as the fiscal cliff deadline looms. Read their thoughts here on the subject.