Apparently, my Muni isn’t above bouncing checks – some of my coworkers were unable to cash their November back wages because of insufficient funds.
I heard an interesting, probably exaggerated story about the timing in which payment was made last week. Apparently there were two checks, one for October wages and another for November, and only the former was issued to employees at 11 AM on Christmas Eve, which gave people only an hour to cash it before the bank closed at noon. Employees were then told to pick up the November check later, by which time the bank had already closed.
Whether or not I’m repeating a rumor is sort of beside the point; today, the banks aren’t closed and people have their checks but there’s no money to back them. It’s shrewd but in reality it’s just another stalling tactic – issue the check and deflect Muni fault by associating non-payment with the bank. Clever.
What really sucks is that necessity is encouraging some people to cash their checks with loan sharks – the local fee is 10%.
So – some people at my Muni are still 3 months behind in wages (November, December and the Christmas Bonus) because there isn’t any more money coming in for a while.