What is this thing?
I always discover new things that I didn’t know existed. Here’s where I record what I newly discover and write down their meanings for my reference.
Public editor: The job of the public editor is to supervise the implementation of proper journalism ethics at a newspaper, and to identify and examine critical errors or omissions, and to act as a liaison to the public. They do this primarily through a regular feature on a newspaper's editorial page.
Employee buyout: Buyouts are a common method for reducing the number and cost of employees. In buyouts, the employer offers some or all employees the opportunity to receive a large severance package in return for leaving their employment.
Buyouts range from four weeks pay plus another paid week for every year worked to the $150,000 that some auto companies have paid their union workers to leave. They can also include benefits such as extended health care insurance and educational and job search assistance.
Buyout offers are usually made to non-critical staff. Senior-ranking employees who are close to retirement or cost the company more money than a new-hire would are also common targets.
Offering all employees of a company the buyout is more common during rough economic times and significant downsizing.
Difference between layoff and buyout:
With a layoff, there is hope that it's more temporary, and you can possibly come back to the job when things improve. If you need to slash payroll quickly because you are bleeding cash, you’re often better off laying off employees. Layoffs are quicker and easier. Your employees don’t really have a say when they are approached with a layoff; if you’re letting them go, they have no room to negotiate. Laying off an employee does give them the ability to come back to your company after a certain amount of time. You can build in recall rights in their employment contract. Also, you can predetermine the duration of the layoff. If you only want a temporarily layoff, you can outline how long your employee will be let go before they can return to work.
Buyouts are typically packages of financial incentives offered to workers to leave jobs voluntarily. They have a choice. But when they leave, it's permanent. If you’re looking to have an employee leave for good, a buyout is the way to go. This usually entails putting together a financial package to offer the employee. The understanding is if the employee is willing to take a severance package, they leave the company forever. In this case, the employee is agreeing to leave and in return, you’ll pay them money.
There’s no standard rules for what to include in a severance package. A buyout plan typically ties to what the employee was earning. For example, it could be an agreement to pay six weeks of salary or for every year the employee worked, the employee gets one week of pay. Your buyout plan can include some health insurance coverage for a specific period of time.
Why do employers offer buyouts before doing layoffs?
Buyouts are a goodwill gesture that employers adopt when they must reduce staff but maintain morale of remaining workers and stature in the community.
Accepting a financial package to leave a job is considered a voluntary quit that makes a person ineligible for unemployment insurance benefits, said Michele Sutton-Riggs, of the Employment Development Department's UI program.
Who are the different editors at a newspaper and what do they do:
The best way to imagine what each editor does is to locate them in the workflow, starting upstream and moving down.
Assignment editors figure out what stories reporters should be working on.
After those reporters file a story, it goes to the backfield editors, who often make major structural changes to the organization of a story, deciding which paragraphs go where, and whether any points need to be developed further.
Once a reporter and a backfielder have a final draft, it goes to the line editors, who go through it word by word and make sure it's on style, capitalizing what needs to be capitalized and checking as many facts as they can under deadline. Line editors usually write a headline to fit into the newspapers layout.
Once the line editor is done, the story is filed to the slot, who is the last line of defense against error, and who is usually in charge of a section -- like finance or world news.
Separately, but not totally independently, the layout editor draws up the page and allots space for each story, according to how much higher editors feel it deserves.
You also have photo editors choosing the best images. They work closely with layout.
incumbent: An incumbent is an official who holds an office. If you want to run for congress, you're going to have to beat the incumbent.
Incumbent comes from the Latin word incumbens, which means lying in or leaning on, but came to mean holding a position. It was first used in English for someone holding a church office, and then someone holding any office. You'll most likely hear it today for political officials. In a race for mayor, the incumbent mayor faces a challenger. Incumbent also means obligation. It is incumbent upon you to do the dishes.
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