VOLUNTARY SEVERANCE PACKAGE

THE MASHANTUCKET PEQUOTS ANNOUNCED TUESDAY THAT EMPLOYEES OF THE TRIBAL GOVERNMENT WERE BEING OFFERED A VOLUNTARY SEVERANCE PACKAGE.. THERE WAS NO OFFICIAL REASON GIVEN FOR THE BUY OUTS.

TWO LETTERS WERE SENT OUT ABOUT THE BUYOUT, ONE TO TRIBAL MEMBER EMPLOYEES AND ONE FOR NON-TRIBAL MEMBER EMPLOYEES. THE LETTERS WERE DIFFERENT, BUT AS OF NOW, BROKENWING EDITORIALS CAN NOT FIND OUT THE DIFFERENCES IN THE TWO LETTERS.

EMPLOYEES WHO OPT TO ACCEPT THE BUY OUTS, THEIR LAST DAY WILL BE DECEMBER 31, 2008. EMPLOYEES EFFECTED BY THE SEVERANCES WILL BE NOTIFIED BY DECEMBER 19, 2008. THE TERMS OF THE BUY OUT PACKAGES BEING OFFERED WAS NOT RELEASED.

IN MAY, 2008, THE MASHANTUCKET PEQUOT GOVERNMENT TRIMMED ABOUT 20% OF ITS' WORK FORCE. IT WAS ACCOMPLISHED BY A COMBINATION OF BUYOUTS AND LAYOFFS. THE TRIBAL GOVERNMENT LOST ABOUT 170 EMPLOYEES (10% BUY OUTS, 10% LAYOFFS)..

THE PACKAGE IN MAY FOR THE BUY OUTS WAS ESTIMATED AT UP TO SIX MONTHS OF COMPENSATION AND BENEFITS (ONE WEEKS SALARY FOR EVERY YEAR WORKED UP TO 10 YEARS.)

AT THE FOXWOODS RESORT CASINO AND THE MGM GRAND AT FOXWOODS, THERE WERE TWO ROUNDS OF LAYOFFS ALREADY THIS YEAR, IN JUNE ABOUT 100 EMPLOYEES WERE LAID OFF. IN OCTOBER, AN ADDITIONAL 700 EMPLOYEES WERE LET GO. INSIDERS ARE SAYING THAT MORE LAYOFFS ARE COMING SOON AT THE CASINOS. KEEP IN MIND. WITH THE ECONOMY IN SHAMBLES, LAYOFF'S ARE DEFINITELY POSSIBLE.

STANDARD AND POOR'S RATING SERVICE, RECENTLY LOWERED FOXWOODS RESORT CASINO AND MGM GRAND AT FOXWOODS FROM BB+ TO BB-. STANDARD AND POOR'S REASONS FOR THE DOWNGRADING WAS , "THE TRIBE'S HIGH DEBT LEVERAGE, LIMITED GEOGRAPHIC DIVERSITY AND SIGNIFICANT HISTORICAL AND EXPECTED DISTRIBUTIONS TO TRIBAL MEMBERS." .

MOHEGAN TRIBAL MEMBERS, THAT I TALKED TO, SEEMED TO FEEL THAT LAYOFFS AND BUYOUTS MAY BE COMING SOON. MANY MEMBERS FEEL THAT THE GOVERNMENT IS TOP HEAVY AND THAT IT SHOULD BE STREAMLINED. THE TRIBAL GOVERNMENT EMPLOY BETWEEN AN ESTIMATED 400 AND 50O PEOPLE.

SOME TRIBAL MEMBERS HAVE SAID, THAT MAYBE THE TRIBAL COUNCIL, SHOULD LOWER THE NUMBER OF TRIBAL COUNCIL MEMBERS, FROM NINE MEMBERS TO SEVEN OR FIVE. A CHANGE FROM NINE TO SEVEN WOULD BE A SAVINGS OF AT LEAST $600,000.00. A CHANGE FROM NINE MEMBERS TO FIVE MEMBERS WOULD BE A SAVINGS OF ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000.00). OF COURSE OT ACCOMPLISH THIS, WE (THE MOHEGAN TRIBE) WOULD NEED AN AMENDMENT TO THE MOHEGAN CONSTITUTION. HARD TIMES SOMETIMES REQUIRE THINKING OUTSIDE THE BOX. WHAT DO YOU THINK?

RE-READ THE PARAGRAPH ABOUT FOXWOODS CREDIT RATING BY STANDARD AND POOR'S, DOES THAT SOUND LIKE THE MOHEGAN TRIBE? WILL THIS HAPPEN TO THE MOHEGAN SUN SOON? WILL THIS HAPPEN TO THE MOHEGAN TRIBAL GOVERNMENT? WHAT DO YOU THINK?