nickh
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Bangkok Post
Wednesday February 18, 2009,
GM Thailand axes 790 workers
By: SANTAN SANTIVIMOLNAT Published: 18/02/2009 at 12:00 AM
Thailand is laying off 790 workers after its offer to production staff of temporary leave on 75% wages failed to help allay the effects of the economic downturn.The company recently introduced a voluntary retirement programme offering production staff 11 months in severance pay, in line with the labour law, plus another 15,000 baht.
Outside the GM Thailand main factory in Rayong. -
From GM Thailand website The layoffs at GM are a blow to the local automotive industry following similar actions by a number of Japanese car makers including Toyota and Mitsubishi.
The US car maker earlier shut its factory in Rayong for two months to avoid an inventory buildup in the face of weakening orders from home and abroad.
Local orders until last month were down 56% compared to the same period last year.
Since only 700 workers came forward to join the voluntary retirement programme, forced layoffs have been introduced for another 90 staff.
Some 50 workers who were forced to resign have lodged a complaint with their union demanding action against GM Thailand's management.
GM Thailand's Rayong plant employs about 3,000 workers.The company has issued a statement saying the layoffs were unavoidable after it fell victim to the economic downturn.
It said the economic crisis was affecting all industries, including the automotive sector, and GM had to restructure its operations to get through the slump.
"Unfortunately, this restructuring plan is affecting the organisation in terms of reduced human resources,"
the company said in the statement.
"That's why we have had to implement the voluntary layoff programme. Production staff joining this programme would receive payment packages in accordance with the labour law."
However, with the crisis we're all facing, the company may have to implement another restructuring option if the voluntary programme doesn't yield sufficient reductions.
"Nevertheless, all employees who resign under any options of the restructuring plan will surely receive compensation packages consistent with the requirements of the Thai Labour Act."
Staff have been told layoffs were happening worldwide and in all industries.
It said the temporary leave programme turned out to be an unrealistic solution to the problems faced by the company as employees received only half or less of their salaries over a short period.
http://www.bangkokpost.com/news/local/1181...xes-790-workers
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Thailand ponders postponing ASEAN summit to March
BANGKOK, Nov 30 (TNA)
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U-TAPAO, Thailand (AFP)
Chaos reigns at Thailand's tourist airlift
Not even the dancing girls provided by a local hotel could cheer thousands of travellers
as they tried to flee protest-hit Thailand through this Vietnam-era airbase.
http://www.google.com/hostednews/afp/artic...2U0qHzcV2aOV2lA
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ONE MILLION TOURISM EMPLOYEES FACE JOB LOSS,
Bangkok Post, LOSSTHANIDA TANSUBHAPOL
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Daily News Phuket, Thailand:
Saturday, November 29, 2008,
100,000 passengers miss flights in 3 days
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I'm not sure if this has been posted here, but here is an interview with Thaksin that was posted on YouTube about an hour ago, apparently from Hong Kong.
http://www.youtube.com/watch?v=mouav0ph9Fc
By the way, the speakers showing on the ASTV live stream and getting particularly steamed up and venomous now. Calling Thaksin a "crazy dog" (using the impolite form of "dog") and all that.
By the way - could you post a link - ASTV live stream,
thanks,
Click on the thailandoutlook.tv link above, or go to
The TOC stream is the English language service, but they are not interpreting the live speeches.
got it,
thanks
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I'm not sure if this has been posted here, but here is an interview with Thaksin that was posted on YouTube about an hour ago, apparently from Hong Kong.
http://www.youtube.com/watch?v=mouav0ph9Fc
By the way, the speakers showing on the ASTV live stream and getting particularly steamed up and venomous now. Calling Thaksin a "crazy dog" (using the impolite form of "dog") and all that.
By the way - could you post a link - ASTV live stream,
thanks,
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any stats are fine, just something to give me an idea,
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Any idea how many international & domestic flights a day were arriving this high season
at Suvarnabhumi & Don Muang,
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Wonder when the U.N Peacekeepers will be arriving,
Seeing how the Thai Government, Military and Police can't control there own country,
Yesterday Black Monday on the Stock Market, Today Black Tuesday Civil Unrest,
How many more Black Thailand days tell total chaos.
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Thai protesters besiege parliament ahead of PM speech
Mon Oct 6, 2008 9:05pm BST Reuters
Hundreds of riot police watched as the protesters from the People's Alliance for
Democracy (PAD) blocked roads in a bid to prevent the opening of parliament later Tuesday.....
http://uk.reuters.com/article/worldNews/id...E4957G320081006
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BLACK MONDAY - How Many More Can Thailand Take.
Asian stocks plumb depths on a wave of selling
Nikkei ends at lowest since Feb '04; Sell-off greets Shanghai after holidays
By V. Phani Kumar, MarketWatch Last update: 6:02 a.m. EDT Oct. 6, 2008
http://www.marketwatch.com/News/Story/stoc...D-C7ADCA0F2E06}
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European and Asian markets will struggle in the short term, but in the long term will benefit since they will no longer be wasting their own productivity to support the dying US economy. See "Crash Proof" by Peter Schiff.
Just on lost new car sales to US/North America,
European and Asian car makers will suffer greatly last quarter 08 and all of 09
BMW Plans U.S. Belt Tightening As Sales Slow
http://blogs.edmunds.com/csx/2008/09/bmw-p...sales-slow.html
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Asia Stocks Fall in Worst Rout for 21 Years as Bailout Rejected
Sept. 30 (Bloomberg) --
Asian stocks dropped, extending the worst global sell-off in 21 years,
after the rejection of a $700 billion plan to rescue the financial system by U.S.
lawmakers exacerbated concern more banks will fail.....
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Forrest Gump - caught selling pot in pattaya
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Buy Low Sell High
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Will Hit 40-45 before it hits 25
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Phuketwan
Phuket Gets Set For Disaster This High Season...
By Alan Morison and Chutima Sidasathian
Saturday September 20, 2008
He cited one well-known resort at Surin that has just two occupants in its 118 rooms
at present...
http://phuketwan.com/article/tourism/phuke...is-high-season/
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And Now The Russia Meltdown"
Luke Harding in Moscow* The Guardian,*
Thursday September 18 2008*
Oil price fall and global crisis force suspension of Russian stockmarkets*
Russia yesterday suspended trading on its two main stock exchanges after shares
plummeted for a second day, forcing the central bank to intervene.
http://www.guardian.co.uk/business/2008/se...kets.regulators
Wonder whats in store for Asia when markets open in a couple hours
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UK to lose 110,000 finance, business jobs -
By Olesya Dmitracova LONDON, Sep 17, 2008 10:54am
(Reuters) - Financial and business services companies in Britain expect to shed around
110,000 jobs in total in the year to next April
http://www.reuters.com/article/rbssFinanci...H69616020080917
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Disturbing News From London
By GRAEME WILSON Deputy Political Editor Published:
16 Sep 2008
MILLIONS of Brits faced a grim outlook last night after America's fourth biggest
investment bank Lehman Brothers went bust.
The shockwaves sent share prices plummeting in London and experts warned...
http://www.thesun.co.uk/sol/homepage/news/...icle1694584.ece
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Fed to give AIG $85 billion loan and take 80% stake
By Michael J. De La Merced and Eric Dash:
September 17, 2008
In an extraordinary turn, the Federal Reserve agreed Tuesday night to take a nearly 80
percent stake in the troubled giant insurance company, the American International
Group, in exchange for an $85 billion loan.
http://www.iht.com/articles/2008/09/17/business/17insure.php
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My wife insisted that I buy insurance for the whole family. Those that you pay them annually for 10 years, and get the money back plus benefit on year 15. So far a lot of dosh have been deposited. If AIA/AIG go down, what will happen to my dosh?
5 questions: Why AIG matters to you
I have insurance through AIG. How worried should I be about the problems at the company?
http://money.cnn.com/2008/09/16/news/compa...sion=2008091612
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UPDATE: Russian Stock Trade Halted In Biggest Drop Since '98
Dow Jones September 16, 2008: 12:19 PM EST
By Andrew Langley and Will Bland Of DOW JONES NEWSWIRESMOSCOW
-(Dow Jones)- Russian stocks suffered their worst day in 10 years Tuesday after fallout
from Lehman Brothers' demise and concerns over banking sector liquidity prompted a
fresh wave of brutal selling.
http://money.cnn.com/news/newsfeeds/articl...25_FORTUNE5.htm
British Man Murdered In Kathu;
in Phuket News
Posted
Conclusion: THAILAND is a dangerous place,
Be it 1st 3rd or 14th in the WORLD For Firearm Homicides,
Seriously very dangerous,
Be carefull Phuket