Word: teche
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...Raphaely was flying high four years ago when he was named European sales manager for Raltron Electronics and saw his salary rise to $115,000 a year. Raphaely, now 43, remained upbeat when the tech bubble began to leak air and he was reassigned to the Miami headquarters of the manufacturer of computer and cell-phone parts. He and his wife Wendy bought a condo and renovated the kitchen. He didn't panic when he and several other Raltron employees had their pay cut 10% in the fall of 2001 and another 10% the following spring. "We were hoping things...
...just factory workers and those in the beleaguered tech industry who are taking their lumps. Steve Doppelt, 36, is an advertising creative director in New York City. With his employer, Publicis Groupe, in the throes of a major shake-up, Doppelt last month left to take a similar job at Kirshenbaum Bond + Partners--for 10% less pay. O.K., he isn't starving. The new job pays more than $200,000 a year, and Doppelt is regarded as a rising star. But he no longer has a secretary, and he is working in a cubicle instead of an office...
...them, that's good money." He was making $80,000 a year at a programming job in Chapel Hill, N.C., before Temtec USA laid him off last October in a broad cost-cutting move. He has been unable to land a regular paycheck, despite sending resumes to 300 U.S. tech firms. Now, with unemployment benefits running their course, he's trying his hand at commissioned sales for a human-resources company in his hometown. He says he is finished with tech and moans that "computer programmers are the textile workers of the future...
...save her league. The all-time top scorer in international soccer joined 18 other U.S. female stars in taking a pay cut--in her case a 29% drop, to $60,000--to keep the Women's United Soccer Association alive. Bob Knight did it out of shame. The Texas Tech basketball coach gave back his $250,000 base salary to pay penance for his team's disappointing 16-11 regular-season record. Yes, folks, even the money-charged world of big-time sports is getting into the salary-cutting game...
HEALTH: A new standard for blood pressure: prehypertensive 79 TECH: The hottest new video games are unveiled in Los Angeles 80 MONEY: How to spot a crooked mover before it's too late...