Is The Economic Fallout Affecting You?

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.

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.

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...

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

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Originally Posted by CarpeyBiggs

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

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

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

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Originally Posted by Bo_Beck

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

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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: )

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.

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.

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Originally Posted by Bo_Beck

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

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For real? Damn!

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.

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

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Originally Posted by Bo_Beck

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

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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.

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

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Originally Posted by Reedus

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

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

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Originally Posted by Reedus

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

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

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

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Originally Posted by 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

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WOW! Seriously?! :eek2:

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

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

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Originally Posted by deathcricket

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

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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: