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LHM company layoffs

Jazzman12 said:
I’ll probably take a lot of **** for this take, but whatever: There’s always been a decent section of the Jazz fanbase who felt that Larry H. Miller cared about bringing a championship to SLC, but cared about his bottom line just a little bit more. I was always one that disagreed with that opinion, but today’s news makes me wonder. Don’t get me wrong, I understand what this country is facing and sadly, this will end up being the norm in the business world. That being said, I felt like the Miller’s/Jazz organization would be one of the last NBA teams to start laying people off. I realize this is an LHM Corporation thing, not just a Jazz thing. I’m pretty surprised about the Tony Parks lay-off. Dude does a radio show on 1280, handles emcee duties at Jazz home games, calls games for the Bees, Stars, and still probably makes less than PK or Monson. Bummer to see a guy who wears 10 different hats for the Jazz take the hit while the ego driven talking heads at 1280 just get fatter.
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I just think this is a very uncertain time. I wish they wouldn’t have done it so soon but it was coming and more will follow in the coming weeks around the league I’m sure. The Rockets owner laid off over 40,000 employees a couple weeks ago. TD Garden laid off hundreds of arena workers. I know there’s a net worth of $1.7 billion. But that’s all assets. The Jazz are certainly one of the less wealthy ownership groups in the league and dealerships and movie theaters as well as the basketball team is just a running hose at the moment. Idk. Tony sparks really bums me out. He did his job well. Get Monson off my airwaves. I’m glad to see the basketball side of things hasn’t taken the cut, yet anyway. Like I said please let us start moving in a positive direction with all this. Please.
 
I wish they would have furloughed vs. laid off, but the reality is many companies are doing this and no one is immune.

If unemployment hits 15% by the summer like is being predicted, it’s going to take us years to claw back.
 
Avery said:
I wish they would have furloughed vs. laid off, but the reality is many companies are doing this and no one is immune.

If unemployment hits 15% by the summer like is being predicted, it’s going to take us years to claw back.
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That’s something I forgot to touch on in my post that’s one of the biggest sources of disappointment. They could have just as easily furloughed those guys and made a public statement about returning folks to their positions once the recovery begins.
 
Avery said:
I wish they would have furloughed vs. laid off, but the reality is many companies are doing this and no one is immune.

If unemployment hits 15% by the summer like is being predicted, it’s going to take us years to claw back.
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It’s so sad and crazy it’s real.
Jazzman12 said:
That’s something I forgot to touch on in my post that’s one of the biggest sources of disappointment. They could have just as easily furloughed those guys and made a public statement about returning folks to their positions once the recovery begins.
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True. I just wonder how long this is going to last and when those positions can even be returned. I’m worried myself going forward no doubt.
 
I suspect it isn't much different for many of the millionaires. They were also leveraged to the max and making slim profit percentages. Their businesses were living month to month with no cash on hand and no liquidity. Most of them couldn't survive a two week disruprion let alone this. So now they have to cut spending immediately.

My org is set up in a similar way. So are a lot of yours. Trying times ahead.
 
This is terrible. Yesterday my town had a food bank and the line of cars was about a mile long for the full hour I was on lunch. People are starving all across the country (world) and it's only the beginning.

Life is changing by the second.
 
JazzyFresh said:
This is terrible. Yesterday my town had a food bank and the line of cars was about a mile long for the full hour I was on lunch. People are starving all across the country (world) and it's only the beginning.

Life is changing by the second.
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Hoping we can all weather it. Save your stimulus check if you can. Idiots are going to run out and buy hot tubs and handbags. Let’s be prudent and put ours in the bank as our emergency cash. It might just pay your mortgage for a couple months.
 
After the dust settles i can see the US losing 6-8 percent of GDP as a long term structural change. We might do 3-5 percent here, government debt levels will soar and policy choices will be limited for years to come. Brave new world...
 
Here is your Danny Downer for the day...

...national finacial or food crisis can easily turn into nations arguing, which can turn into wars with bullets.
 
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