Oh yeah we will all eat the shit sandwich. It was bound to come to an end at some point. It was foolish to think otherwise. Paycuts at all companies are possible $200 would be “we are going out of business” extreme. Making $700-$900 is not chump change. Ask the $10 an hour barista at Starbucks with two masters degrees if they could make do on that.
At my current travel rate at HOS my travel is generally 90% covered unless I need a car service or the bus to go to the airport.
[QUOTE=Fraqrat;145769]Oh yeah we will all eat the shit sandwich. It was bound to come to an end at some point. It was foolish to think otherwise. Paycuts at all companies are possible $200 would be “we are going out of business” extreme. Making $700-$900 is not chump change. Ask the $10 an hour barista at Starbucks with two masters degrees if they could make do on that.[/QUOTE]
Yes, I would tend to think wages would stagnate for a year or two rather than be cut though. Cutting wages or backing out of travel/raises already agreed on would be a sign potential inventors don’t like the balance sheet. Honest to god finance people cringe at the thought of us savages making the money that we all do “just driving a boat.”
OTE=Fraqrat;145769]Oh yeah we will all eat the shit sandwich. It was bound to come to an end at some point. It was foolish to think otherwise. Paycuts at all companies are possible $200 would be “we are going out of business” extreme. Making $700-$900 is not chump change. Ask the $10 an hour barista at Starbucks with two masters degrees if they could make do on that.[/QUOTE]
both degrees in libereal arts I am sure.
[QUOTE=z-drive;145771]Cutting wages or backing out of travel/raises already agreed on would be a sign potential inventors don’t like the balance sheet. Honest to god finance people cringe at the thought of us savages making the money that we all do “just driving a boat.”[/QUOTE]
bon apetit y’all…
in all honesty, I don’t believe this rumor to have any basis…the ramifications would be huge for stability in HGIMs workforce and as much as the Jordan Company might want to see less money going to the mariners, they would not want to see turmoil in the laborpool either. Especially if the plan is to go to an IPO. However I can see where a clawback of wages can happen but much slower and more gradual than such a severe cut as $200/day. Also, being part of the cabal known as OMSA, such moves must be harmonized with the other member companies plans.
Are mariners in the GoM with the major players paid too high? Based on the rest of the US maritime industry one might say yes, but based on the profitability of the companies to date, the answer is no. If there is a sudden reduction in the dayrates the boats earn, then it is axiomatic that the owners will make cuts in their expenses where they can. Can’t cut debt service but you certainly can cut wages. There has been a lot of press recently about the major deepwater operators to spend less on E&P efforts and I have speculated when that might trickle down to the OSV operators. Are they telling the OMSA member companies to brace themselves for lower charter rates? Maybe they are and where are those companies going to go just like the mariners? In the end, the Joe Boss of Bosses is Shell, BP, et all. They are the ones with the money and they get the power to dictate the terms… It’s just business folks.
Let’s see, bonuses go first, travel second, manning third, then stacking. Ruuhhhh rooohhh…
when I had that OSV crew rotation survey thread did we ever get a HGIM reply? Don’t think we did and expect they are a carved in stone 28/14 bunch
I’ve been through three of these slow downs. This is why I tell the young guys to save their money. You don’t need a brand new boat, motorcycle and jacked up 4x4. If anything buy a house and some land and put a big chunk down so the payment will be affordable if up to 20% pay cut happens.
I couldn’t afford to put as much down on my house as I wanted but I can still afford it at what I was making as a mate. The first bank I went to looked at me like I was crazy for not wanting a loan for 450k or more with my current salary.
Most unlicensed guys work 28/14, some work 56/28. It’s pretty flexible for the officers, a lot work 28/14, many work 28//28. They’re personnel dept does a hell of job trying to give you the schedule you want.
[QUOTE=Traitor Yankee;145785]I couldn’t afford to put as much down on my house as I wanted but I can still afford it at what I was making as a mate. The first bank I went to looked at me like I was crazy for not wanting a loan for 450k or more with my current salary.[/QUOTE]
I can barely imagine what a $500K house in South LA would be like? Likely more posh than Mr. Gary’s mansion! Can y’all say “Beverly Squidbillies”?
btw…here’s a trivial question for all you unwashed boobs…where did the word “posh” get derived from? It is maritime related.
Don’t want to imagine, I live on cape cod anyway
lol where he’s talking 450k is a nice house but nothing like it would in south Louisiana.
[QUOTE=c.captain;145789]
btw…here’s a trivial question for all you unwashed boobs…where did the word “posh” get derived from? It is maritime related.[/QUOTE]
Port out starboard home. This was the preferred side of the vessel for the run from GB to India.
And gin is in square bottles because it takes less room when stowed for the voyage.
I know in Mobile that will buy you 4500-6000 sqft brick. The rest depends on amenities and lot size.
[QUOTE=Fraqrat;145796]I know in Mobile that will buy you 4500-6000 sqft brick. The rest depends on amenities and lot size.[/QUOTE]
Who on earth needs that many square feet unless you have a family with 15 kids which I guess isn’t that uncommon for Bama…
.
Trolllll Tiiiiiide!!!
They know better than to cut pay…the main reason people with experience work there is because they pay better than most. Most wouldnt put up with all the extra bullshit for any less.
they did stop giving the 25 dollar raises for sure. I left there on good terms, in may, making 975.
[QUOTE=greenhorn;145807]They know better than to cut pay…the main reason people with experience work there is because they pay better than most. Most wouldnt put up with all the extra bullshit for any less.
they did stop giving the 25 dollar raises for sure. I left there on good terms, in may, making 975.[/QUOTE]
All I can say is somehow over the past eight years the US maritime industry has been turned on its head because of the bloody GoM offshore. Such an imbalance is not good.
Is your inner Yoda coming out, with all this imbalance of the maritime force talks?