Is The Economic Fallout Affecting You?

[rockgremlin]

Just curious as to how many of us are feeling the effects of the downturned economy.

If you were somehow kept away from the media, and were unaware of any economic downturn, would your finances/lifestyle be affected at all?

For me personally, it's a mixed bag. The bad news is my retirement accounts have taken a hit, but they should recover in the long run. The good news is I can fill my gas tank for less than half of what it cost a little while ago.

If I were still employed by a copper mine, I would be updating my resume right now -- copper has plunged from over $4 bucks a pound to $1.50 a pound recently. :eek2: Look for small-tier to mid-scale copper mines to start laying folks off here pretty soon.

[oldno7]

The Iron mine in Cedar City just opened, I'm hoping this will help the local economy. Come on down Rock, I still have a new house with your name on it. Our economy has slowed but we are doing well compared to the rest of the Country.

[CarpeyBiggs]

For me, things just keep getting less expensive everyday, so I'm actually doing better. But, there's that little fear in the back of my head suggesting my lifestyle is gonna change soon...

[Win]

Our business has taken a hit but we'll survive just fine. I sell specialty tires to other dealers throughout the East Coast. Someone always needs a tire.

The retirement account got hit hard but with my job and some other rainy day planning, we'll be fine.

Contractors are having a terrible time in Washington County. I know of several that are basically out of business.

Win

[rockgremlin]

But, there's that little fear in the back of my head suggesting my lifestyle is gonna change soon...


Uh oh....what's her/his name? :lol8:

[Bo_Beck]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

[rockgremlin]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:


But is that as a result of the ecomony, or just a result of your retiring from it? (without getting too personal of course :mrgreen: )

[BruteForce]

As of yet, except for my two 401k accounts, I've not yet felt the pinch. I feel this may change in the next ~2 months once the real downturn starts to impact the business I work for and the businesses my wife contracts with.

I'm hoping for the best but trying to prepare for the worst.

[Deathcricket]

I lost almost a years salary in the stock market crash, that really caught me by surprise, and of course my 401k is sucking like everyone else's. I'm a little nervous if my company shrinks since I'm the lowest person on the "totem pole" at work, they tend to go by seniority here and not performance which sucks.. But so far indications seem good there will be no layoffs. Really happy about that.

I heard the DOW is almost down to the level it hit during 911 today, scary stuff.

[CarpeyBiggs]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

For real? Damn!

[Reedus]

I am in sales and there is a definite shift compared with this tiem last year. People are pinching pennies everywhere they can, and the first to go are powersport toys it seems.

[R]

In the past few years, Abby and I have made an extensive effort to be the go-to person at our offices, learning different skills and wearing more hats, so that if/when layoffs come, our employers will think thrice before putting our names on the list. To that end, in addition to being Chief Photographer, I am editor of our magazine, our network/Mac guy, and our web forum moderator. Abby's the same way.

The cost of energy was hitting us hard at home, and we are feeling relieved that it has eased. As far as confidence and spending are concerned, since we have a teenager, our spending is about the same as always.

If layoffs come or our businesses close, we'll do what it takes to survive, but for now we are just living our lives as usual.

-Richard

[savanna3313]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

I am so sorry to hear this! Unfortunately, I was emailed a list of stores yesterday that all plan to be closed by the end of January and some really shocked me. Some plan to keep their catalog sales going, but retail locations will be shut down permanently. I don't like being a doomsday person, but I don't think the full domino effect has completed.

btw.....I'm a real estate agent, so yes - it's a LOT cheaper to fill up my car, but the clients are few and far between. The r.e. market is currently on life support. Bargains galore to be had, but most people can't get qualified anymore. Unless you've got 20% down and a gold plated hiney, odds are you're not getting qualified! :haha: I just saw a brand new, custom built $1M home go to foreclosure and then come back on the market (Suncrest area) for $475K. It's just one of many.

[Reedus]

Hmmm.. 20% doable. But how do you go about getting your hiney plated in gold?

[savanna3313]

Hmmm.. 20% doable. But how do you go about getting your hiney plated in gold?

If I knew the answer to that one, I'd have more business going on! :haha:

[Alex]

Hmmm.. 20% doable. But how do you go about getting your hiney plated in gold?

Simple, you just take your hiney and sprinkle it with gold... duh! :roll:
:2thumbs:

[Mooseman70]

Don't forget to use your gift cards all these stores are closing!

Circuit City stores... most recent (? how many)
Ann Taylor- 117 stores nationwide are to be shuttered
Lane Bryant, Fashion Bug, and Catherine's to close 150 store nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pacific Sunware closing stores
Pep Boys

[rockgremlin]

Don't forget to use your gift cards all these stores are closing!

Circuit City stores... most recent (? how many)
Ann Taylor- 117 stores nationwide are to be shuttered
Lane Bryant, Fashion Bug, and Catherine's to close 150 store nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pacific Sunware closing stores
Pep Boys

WOW! Seriously?! :eek2:

I had no idea! How did you find out about that?

[Deathcricket]

Famous Daves went out of biz here in STG. I loved eating at that place.
:frustrated:

[Jaxx]

Famous Daves went out of biz here in STG. I loved eating at that place.
:frustrated:

That sucks. Not to rub it in but we just went to the one in Clearfield after hiking on antelope island. 4 Rib dinner filled me up. Goooood ribs. :2thumbs:

[Mooseman70]

Don't forget to use your gift cards all these stores are closing!

Circuit City stores... most recent (? how many)
Ann Taylor- 117 stores nationwide are to be shuttered
Lane Bryant, Fashion Bug, and Catherine's to close 150 store nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pacific Sunware closing stores
Pep Boys

WOW! Seriously?! :eek2:

I had no idea! How did you find out about that?

I've got an old friend from high school who works in global fixed asset inventory reconciliation. He knows folks who profit from bankruptcy....liquidations. :haha:

[greyhair biker]

I saw the biggest hit in my retirement but havent actually felt a hit yet. The bikeshop has slowed down but the weather does that to me every year so I don't expect to feel it until after the first of the year. Luckily, I'm not looking for a new home any time soon and the cars all work (knock on wood) The mining industry is feeling the crunch but there are nearly 300 people under me so I have a little bit of a cushion...is that too callous? :ne_nau:
.......cheap gas is GOOD!

[Gutpiler_Utahn]

Working for Zions Bancorp, the IT dept alone has to cut a few million from the budget for next year. None of it is supposed to come out of my paycheck though and annual raises are still on as of now. But who knows, that may change tomorrow. :ne_nau:

[chickenlicken]

We've seen some sporadic order activity in the last few months, but things seem to be catching up to us. December orders are very small, and only a few. If this keeps up we'll be cutting hours and perhaps laying off employees. I hear similar rumblings from others in our industry that are worse off than us. It still looks like we'll have a "normal" overall year.

:ne_nau:


www.braveusa.com

[James_B_Wads2000]

Hasn

[blueeyes]

Basically I have been a starving student from 2003-2007 and it has only been this past year that I have made a decent income. The only money I have in a 401K is what has been dumped into there in the last 18 months, peanuts, I don't even bother looking at it.

We had a meeting last week on campus about the state of the economy and how it is effecting higher education. I walked away from that feeling like for the next year my job at WSU is ok. However if things get worse... well I guess I will be working full-time in a hospital lab, unfortunately the need for hospitals is not going to go away. Even if it means moving to timbuck2 where the need for our profession is the greatest, I will have a job. The plus side for Universities is that in times like this they see an overall increase in enrollment.

However, my mother who works in the title business, is seeing drastic changes. They have already downsized her office, she has taken home all personal effects and refinanced her house for a smaller payment. She is very worried that at any moment they will walk in and lay her off. I told her no matter what it takes we will work through it. If I have to work two jobs and she becomes my nanny I will help. I owe her soooo much.

[kris]

Being in State Government, more specifically emergency services does have its perks. Sure we get zero recognition, long hours, all for average pay. But, we are not directly effected by the fallout. Sure we don't get our ASI's, or a COLA next year, but that's a small price to pay. We have been asked to cut our budgets by 5%, which I find both pro's and con's in that.

But, like what others have posted, I make sure to put my hand in anything offered, so it makes it harder to get rid of me. :mrgreen:

Oh yeah, 401k's have taken a hit. But I have a few decades left before I need it.

And I will admit, the price of gas was kind of a drag. I definitely am liking the cheap fuel while I can get it.

[Felicia]

I'm good. This is a good time to sit tight, enjoy the time to contemplate, and be ready when it is time to move forward again.

I took all my money out of the market last year when the DOW was in the 14K area. I threw it all back in last month between 9k and 8.2K. I've got years before I will be able to access it anyways.

We are starting to eat out less. I try to make my purchases from "the little guy". I avoid chain food restaurants, large retail stores, etc. I want my money to stay in my community.

The price of gas is nice given that we spend so much this summer traveling to Zion so often.

It's sad to hear that Bo's store is closing. I enjoy stopping there on our way through. It's amazing what you can purchase when you are on a time schedule to get the permits picked up on time. A group of 7 of us stopped one time and in the time span of 15 minutes we purchased 3 pairs of hiking shoes/boots, socks galore, and a couple of other items. The service was great!

The economy will pick-up again. It may take a little time, but it will get better.

[Skylinerider]

We get to have a meeting today on how the economy is affecting our company. I know things have slowed for us (commercial architecture) and I'm pretty worried about the outcome of this meeting.

[devo_stevo]

I'm a steel detailer for a fabricator in Brigham City and so far, life is still good. We have had 3 record sales years in a row and the work is still coming in. As long as commercial and industrial construction continues, things will work out ok for us.

I've learned to never say never though.

[KapitanSparrow]

I am also a citizen of Europe so if things go really sour here I will learn French and bail out :roflol: Just kidding :haha: Although Norway sounds mighty interesting :twisted:

[Bo_Beck]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:


But is that as a result of the ecomony, or just a result of your retiring from it? (without getting too personal of course :mrgreen: )

Well??? You might call it an involuntary retirement?! I think it has to do with a smathering of things, economy included.

[Bo_Beck]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

For real? Damn!

For real, but, but, but, but.....got some probing sticks in the fire as we speak! :nod:

[Bo_Beck]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

I am so sorry to hear this! Unfortunately, I was emailed a list of stores yesterday that all plan to be closed by the end of January and some really shocked me. Some plan to keep their catalog sales going, but retail locations will be shut down permanently. I don't like being a doomsday person, but I don't think the full domino effect has completed.

Yeah...tough times ahead for sure, but keep a PMA and ride the storm out. Just need to learn to live a bit differently, (never quit having fun though) and better financial times will happen one day.

[trackrunner]

Yep! We're closing Outdoor Outlet after 25 years of operation! :ne_nau:

For real? Damn!

For real, but, but, but, but.....got some probing sticks in the fire as we speak! :nod:

NOOOOOOOOOOOOOOOOOOOOO :cry1:

[nelsonccc]

We get to have a meeting today on how the economy is affecting our company. I know things have slowed for us (commercial architecture) and I'm pretty worried about the outcome of this meeting.

Too bad. Here in vegas we've seen a downturn in resort architecture, but lucky for me my firm is the owner/developer for M with all the financing in place long before the slump hit. Our firm has also been able to acquire a few other hotel jobs throughout the country so I should be fine. Our firm did lay off 26 people at the end of September but supposedly that was the only wave of layoffs.

[rockgremlin]

<bump>

What about now? I originally posed this question back in November, and the economy has worsened since then. Still nobody affected?

[KapitanSparrow]

<bump>

What about now? I originally posed this question back in November, and the economy has worsened since then. Still nobody affected?

We no longer get Starbuck's to use in our coffee makers :roll:

[Scott Card]

My accounts receivable continue to get bigger. I am starting to dump non paying clients for the first time in my career. Also, I just trimmed a few days off the family vacation.

[James_B_Wads2000]

My wife's job is restructuring their finances. This gives them till June to turn around sales, otherwise her job is bye-bye. :eek2:




James

[abirken]

Took a pay cut last week in order to salvage our business and hopefully pull through. Lost my health insurance today. So yes it's hitting home and I'm a freaking ball of stress. :frustrated:

[Alex]

Our school district's budget (actually all educational organizations in Utah) is cut by 7% until June 30th, then it might get cut additional 15%.

Luckily, our superintended exclaimed that no people will be affected (laid off). I hope he sticks to his word and the budget will be cut with extra programs.

The hiring has been frozen at the moment, as well as inside/outside travel for employees.

The economy is catching up with us, but at least not as fast as other companies.

[BruteForce]

Our revenue and sales projections are getting far worse than any other year prior. We're still making money, but profit percentage is considerably down.

Much like others have indicated, our receivables have really slowed as many customers (much like us) have gone to a slow-pay process where instead of meeting Net30, they're going Net60/90.

No lay-offs yet, but if things don't improve in 2 months, I can see it coming.

[DiscGo]

I am doing fine so far, and I just want to say good luck to any of you who have fallen upon hard times.

[rockgremlin]

I know of one other semi-regular poster on here that lost a very nice high paying job just recently.


No lay offs in the trona patch so far, but I know of other mining companies that are laying off like crazy - Rio Tinto is set to lay off 14,000 employees in the next little while, and BHP Billiton will lay off another 6000 in the next year. Freeport McMoran laid off 600 employees recently. Those are three of the largest mining companies in the world.


So...um...is this a slow slide into another depression?


Discuss...

[devo_stevo]

So...um...is this a slow slide into another depression?


Discuss...
http://www.msnbc.msn.com/id/28698830/

Thought this was interesting. Encouraging yet not at the same time. We are apparently a long ways off of things being as bad as they were in the 1930s, but there are some similar things happening at the same time.

Only time will tell I suppose.

[shlingdawg]

Knock on wood....... [knock knock]


I'm in a similar boat with James. I'm a pharmaceutical rep and even better, I'm in generic injectables with a strong oncology line. Between the hospital and oncology clinic customers, things are as solid as ever. I don't have to worry about products going off patent (just the opposite, we profit when they do) and we're making money for the parent company. All while providing savings over branded drug prices.

Snug as a bug in a rug.

[/knock knock]

Good luck to those of you who are stressing. I'm pulling for you.

[Deuce]

I have had indirect effect, though not to my personal bottom line. Well, unless you count 401K.....OUCH....OUCH.....OUCH.....though it is just paper money that I don't plan on using anytime soon.....

On a positive note, WOW.....mortgage rates in the 4's......doing a refinance and knocked off 1.4 points.....

[DirkHammergate]

My Ex Wife shacked up with a dude awhile back and now I pay 1/2 of what usually did per month (which was substantial)...

What New Economy? Cause Dirk is pretty much taking a bath in 100 dollar bills... Dirk, he likes this New Economy, I'm recession proof.

[Scott Card]

My Ex Wife shacked up with a dude awhile back and now I pay 1/2 of what usually did per month (which was substantial)...

What New Economy? Cause Dirk is pretty much taking a bath in 100 dollar bills... Dirk, he likes this New Economy, I'm recession proof. Ah yes, cohabitation or remarriage equals NO alimony. One day I will share my favorite alimony story. Dude saved $15,000 a month due to a quickie remarriage (that failed 3 months later). :haha:

[Scott P]

Just curious as to how many of us are feeling the effects of the downturned economy.

We usually get reviewed for raises once a year (July 1), but it was announced that there will be no raises this year. Last year's wasn't too great either at just over 2% as the best that could be had.

Yes, the economy is affecting us, but at least I still have a job; something to be thankful for. We are also good at saving and don't have much debt which really helps out. The house will be paid off in a few years and other than that we have one vehicle loan that won't last that long.

Anyway, since the economy is bad, of course we will be making cut backs, but nothing life threatening.

[Bad Karma]

Lost job, my gym closed...and I think my hair is falling out so I'd have to say it affected me

[Cirrus2000]

Feeling relatively recession-proof job-wise, fortunately (and knock on wood for me too.) Though our union's contract is about to expire and negotiations are underway - don't think we'll be getting much goodies over the next couple of years... That's OK - just happy to have a secure job.

Aside from that, we've got our house on the market, and it's a lousy time to be selling. Looking forward to being on the buying end, though, once we get an offer. And as with many, our retirement savings took a hit (RRSPs for us, like your 401k.) Fortunately, there's time to recover.

All in all, weathering it OK.

[DiscGo]

Aside from that, we've got our house on the market, and it's a lousy time to be selling. Looking forward to being on the buying end, though, once we get an offer. And as with many, our retirement savings took a hit (RRSPs for us, like your 401k.) Fortunately, there's time to recover.


Why are you moving?

[Win]

I have a good job with benefits and it seems secure. We did take a big hit in our 401ks and that could hurt as I'm 65 this year. We are debt free and that really helps.

Win

[CrazyFinn]

For anyone who has lost a job there is still 28 days to apply for this one:

http://www.islandreefjob.com/

You could get lucky! :roll:

[jumar]

Nothing affecting me yet

[James_B_Wads2000]

http://www.gospelcommunications.org/communique/wp-content/uploads/2006/05/514_Bump.jpg

What is going on now peeps? Things are getting worse at my job. :roll:


James
:becca:

[CrazyFinn]

James - Hope you survive it..

Worst job losses in 60 years expected
Reports on ISM, payrolls should show recession intensifying
By Rex Nutting, MarketWatch
Last update: 10:41 a.m. EST March 1, 2009Comments: 1590WASHINGTON (MarketWatch) -- The recession tightened its grip on U.S. businesses and consumers in February, according to economists, who are predicting the largest one-month job loss in almost 60 years.
"Pink slips continue to fly," said Meny Grauman, an economist for CIBC World Markets.
With output still falling at a dizzying rate, most companies are shedding unneeded workers and cutting back the hours of those remaining. Strapped by debt and seeing their paper wealth evaporating, many consumers are spending as little as they can.
"The economic patient is still in critical condition, with little medication to relieve the pain," wrote economists Brian Bethune and Nigel Gault of IHS Global Insight. "We will have to bite the bullet."
The first week of the new month brings two of the most important economic indicators: the ISM index and the nonfarm payrolls report. Both are expected to be very grim news.
Little joy in manufacturing data
First, on Monday, the Institute for Supply Management reports back from purchasing managers at manufacturing firms across the nation.
Although few people outside of the financial markets or the economics profession know what it is, the ISM is probably the best single leading indicator marking the end of a recession. The ISM is a diffusion index that measures the breadth of economic distress or success across firms. It asks key executives to judge whether business is getting better or worse.
Once the ISM -- and especially the new-orders component -- turns up decisively, the expansion is typically one to four months away, although in some cases it has turned up as much as a year before the end of a recession.
The ISM plunged to 32.9% in December -- a level only seen at the depths of the very worst recessions -- but it bounced back to 35.6% in January, giving some hope that we'd seen the bottom.
Unfortunately, the ISM is expected to dip back to 34% in February, according to the median forecast of economists surveyed by MarketWatch, as global export markets worsened and U.S. capital spending remained weak.
The key components to watch will be new orders, export orders and inventories. Manufacturers' own inventories are too high, and they judge that their customers' inventories are too high as well. Once customer inventories are worked down, factories can get back to work.
Horrendous payroll numbers
If the ISM is forecast to be awful, the nonfarm payrolls report is expected to be horrendous. The Labor Department is slated to report the figures Friday.
Economists expect payrolls to plunge 630,000 in February, slightly more then the 598,000 lost in January and the 597,000 lost in November. The unemployment rate is expected to climb to 7.9% from 7.6%, breaking through the 7.8% peak in the 1991 recession to the highest level since 1984.
It would mean that a record 4.2 million jobs will have been lost since the recession began in December 2007, with no end in sight.
"Employment losses have deepened considerably in recent months," wrote economists for Wachovia, who expect total losses for the recession to top 6.5 million.
"With total revenue declining at its worst pace since the late 1950s, many businesses and governments are in survival mode and have no choice but to cut jobs," Wachovia economists said
The main evidence for a worsening job market has been the rise in unemployment benefits. First-time claims have risen decisively over 600,000, nearly double the level at the beginning of the recession. Continuing claims are at an all-time high. Consumer surveys also show extreme pessimism about finding a job.
While some forecasters think job losses in February stayed in the ballpark of about 590,000, a few economists think the labor market got much worse in February and are expecting losses of 650,000, 700,000, or in one case, even 800,000
The report is "likely to be the weakest to date," wrote economists for Barclays Capital, who expect payroll losses of 675,000 and an unemployment rate of 8%.
"February was the worst month yet," said Global Insight's Bethune and Gault, who are predicting payroll losses of 750,000 and an employment rate of 8%.
Others have a slightly less dire view, if a loss of 625,000 could be considered upbeat. "Our sense, admittedly based mostly on anecdotes, is that labor market conditions remain dismal but are not necessarily accelerating to the downside," wrote Stephen Stanley, chief economist for RBS Greenwich Capital.
Economists expect the number of hours worked to continue plunging as more workers are forced into part-time shifts. In January, 7.8 million workers wanted to work full time but could only get part-time work.
Average weekly earnings likely rose 0.3% again, as the lowest-paid occupations took a larger share of job losses.
Worst since '49? Or since '45?
If the economy did shed 630,000 jobs in February as expected, it would be the third largest monthly loss on record, dating back to 1939.
The record was set in September 1945, when nearly 2 million people lost their jobs after the Allies won the most destructive war in history and industry was retooling for peacetime, sending "Rosie the Riveter" back to her knitting.
In October 1949, 834,000 jobs were lost when almost all the nation's steelworkers went on strike in the final month of a brutal but short recession.
Another strike in July 1956 cost 629,000 jobs, but the next month saw 678,000 jobs regained.
Of course, the size of the workforce is much larger today than it was in 1949 or 1956. But as a proportion of the workforce, this recession also is moving up in the record books.
If 630,000 jobs were lost in February, it would bring total losses in this recession to just over 3% of payrolls, close to the 3.1% lost in the recessions of 1982, 1954 and 1949 (excluding the strike). Next on the list: 4% in 1958 and 6.9% in 1945.
If Wachovia economists are right that 6.5 million will lose their jobs by the end, employment will have fallen by 4.7% in this recession.
And remember: These forecasts assume the Federal Reserve will slowly be able to get credit flowing again, and that the recently approved fiscal stimulus will give a significant boost to the economy.
Rex Nutting is Washington bureau chief of MarketWatch.

http://www.marketwatch.com/news/story/Worst-job-losses-60-years/story.aspx?guid=%7B3DD6787D%2D0D70%2D4B14%2D94EC%2 D808F4212D419%7D

[RugerShooter]

Well for now I am still employed, and there has been no layoffs yet at my place of employment. Overtime has been cut to zero, but I do have to say it's been nice only working 40hrs a week.

[BruteForce]

Things are starting to look a bit grim at my employer. Layoffs are surely right around the corner. I don't think I'll be impacted, but if/when layoffs do occur, the morale will tank and it won't be that fun/carefree work place anymore! :nono:

[KapitanSparrow]

I hope everyone here gets to keep their job. No idea about mine but I am not going to worry ahead of time. I am in pretty comfortable position in that I do not have a family so I don't have to worry about wife and/or kids.

[accadacca]

I am hiring a few... :ne_nau:

[Don]

My roommate is unemployed and thinks he has a better chance of finding work in California (really he just wants to play volleyball on the beach) so he's selling his motorcycle and moving out there (dumb if you ask me).
So I have to find a new roommate or a new place to live. Damn. :frustrated:

[rockgremlin]

Things are tight around here these days. No word about layoffs...yet.

[DiscGo]

We have had several customers go out of business, and several others who have not paid in a while. My company is still doing well, but we have stopped growing.


What erks me is that I feel so lucky to have a job and feel like my fate is intertwined with my co-workers. And I feel like several of my co-workers are lazy and could care less what happens to my company. I hate seeing them do nothing at work, while I pick up their slack.

[ilanimaka]

Things are alright at work. They just had a $12M budget cut from the IT dept and nobody is getting raises this June. They've cut out all travel and most of the training budget, so we're starting to feel it somewhat. All I can do is keep my head down and do a good job on the projects I'm handed. There's some people you just don't want to be on their radar, ya know? While some folks are paid less than they're worth, it sucks. For me, I'm paid more than I'm worth (skills wise anyways) and I know it. So, I ride the gravy train and try to pick up what I can just in case I ever have to justify my existance to the company. :eek2:

[DiscGo]

While some folks are paid less than they're worth, it sucks. For me, I'm paid more than I'm worth (skills wise anyways) and I know it.

Props to you for being able to recognize that. Good luck!

[RugerShooter]

Well I sopoke to soon, we just laid off laid off 10 people. Thank goodness I wasn't one of them.

[R]

The company that owns my newspaper, CNHI, announced yesterday that all employees will be required to take five unpaid "recession days" in the second quarter. This was designed to avoid any layoffs. Presumably, if things pick up, they won't have to do it again this year. Wait and see. I am glad no one lost their jobs.

-R

[Thomas]

I work at a small/medium financial institution and we have had a large increase in bankruptcy

[DiscGo]

Uh oh. My company just sent out an email saying we need to be better if we are going to make it.

"The state of the economy is having a negative impact on our business...."

Scary times :)

[KapitanSparrow]

My company decided to get out of the business area that our SLC site is in. This means I will be out of the job by the end of the year at the latest, heh. So if anybody has a need for a technical writer or a beer taster I am your man! :2thumbs:

[BruteForce]

Things have improved for us. We're now back to full staff, revenues are back up and we're hoping for the best but prepared if things change for the worse again.

Edited to add: And I've just added two contract-to-hire staff to my team.

[DiscGo]

My company decided to get out of the business area that our SLC site is in. This means I will be out of the job by the end of the year at the lates...

Sorry to hear that! Good luck to you.



My company fired the two people who were kind of dragging us down in March and we are doing much better now. Thankfully.

[KapitanSparrow]

Here's an update. I am still employed for the time being, heh. However, I realized something today. If I do get the boot, at least I won't have to sit next to the moron who called her mother on the phone and said, "Mom, how do you spell "favor?" :frustrated: Few days later she called to find out how to spell "bridge". Morons, morons, morons!

[blueeyes]

Here's an update. I am still employed for the time being, heh. However, I realized something today. If I do get the boot, at least I won't have to sit next to the moron who called her mother on the phone and said, "Mom, how do you spell "favor?" :frustrated: Few days later she called to find out how to spell "bridge". Morons, morons, morons!

You should buy her a dictionary as a parting gift. :roflol: Hey Mom's they know everything!

[rockgremlin]

Good news for southeast Utah.

The company I work for will be hiring about 50 people in the next few weeks...mostly heavy equipment operators.


:2thumbs: :2thumbs: :2thumbs:

[rockgremlin]

How about an update?

On my end things have picked up quite a bit. We just hired about 50 people. Heavy equipment arrives on site this week, and operations officially re-start a week from today. There's an air of heightened optimism around here these days.

[accadacca]

We launched a product the other day and had our highest sales day in history. Good sign. It seems to be sustaining. :2thumbs:

[accadacca]

Howz it going for everyone? 80% or something of the economists are saying that we are out of the recession. However, they also said that it could take 4-5 years to recover from the effects of the recession.

It is crazy how many people are still out of work compared to a year ago. It is staggering the amount of resumes that almost ANY job posting will generate. IMO, I do think we will see companies start to hire again soon.

The housing market is still really scary too and I wonder how long it will take for the home values to return to normal.

:popcorn:

[rockgremlin]

It is crazy how many people are still out of work compared to a year ago.


I read an interesting article about this today: http://articles.moneycentral.msn.com/Investing/Extra/why-stocks-are-surging-as-jobs-disappear.aspx

Companies are doing very well when they don't have to pay surplus employees' salaries and benefits...hence the reason why so many companies are reporting profits and the DJIA breaking 10,000 yesterday. Hopefully the profit margins will continue to increase leading to hiring of more employees, leading to a decrease in unemployment, and the cycle starts anew.

Everything is still very positive on this end. The recession actually worked in my favor...it brought the real estate market in Moab down to reasonable levels just at the time when I got hired back to work down here.

[accadacca]

Yeah, I bought my house just over a year ago and I got a good deal at the time. BUT NOW they have dropped much lower. :nono:

I also read the other day that all the employees that are still working are having to pick up the slack for everyone that got laid off. I can see that. Thanks for the link, I'll have a look.

:popcorn:

[Iceaxe]

From US News: "It could be 10 to 20 years before housing values have regained the peaks of 2006"

[accadacca]

From US News: "It could be 10 to 20 years before housing values have regained the peaks of 2006"
I am just looking for the peak of 2008. :haha:

[devo_stevo]

Houses were never worth what they were selling for in the first place. Just my 2 cents.

[accadacca]

This might just be an indicator: http://www.bogley.com/forum/viewtopic.php?t=18997

[Iceaxe]

http://farm3.static.flickr.com/2602/3752344260_18bda8b94d.jpg