If last year was the worst of it, we survived its best punch and are still fighting. With [businesses] like us, it’s not about the exact unemployment rate – it’s about how many people are worried about losing their jobs. And the latter has definitely come down.
Vail Resorts CEO Rob Katz • Describing his decision to completely kill his $840,000 salary in 2009 – and knock executive pay by 10% or more – to prevent major layoffs. Katz plans to slowly revert back once the recession dies down – except he’ll cut his only salary by 15%. Awesome. • source
A statewide referendum vote on the struggle to kill the massive budget crisis in California ended up with only tears, as none of the first five pieces of legislation got over 41% of the vote. source
However, the sixth piece of legislation did – unfortunately for state lawmakers, the legislation caps salaries of elected officials during years where the budget’s bad. Sucks for them. source