effect of the economy

[b1pig]

i got to thinking. geographically, we are a pretty diverse group. i was wondering how the economy is effecting each of us. while lori and i have not been hit directly with anything, her father was laid off and i have a few firnds that have been laid off or put out of work completely. i've seen some long-standing local businesses go under for various reasons, but the final seed was the economic slump.

so. check the poll. i tried to cover it. btw.. you can select more than one answer depending on your needs.

comments?

[major]

I checked #2 & #3

[Djeep]

checked 1 and 2, But i am sure my time is coming. i work in the steel industry suppling fabracated pipe for power plants,steam plants,also some structual stuff likes bridges and pipelines (Enbridge) i believe they are owners of the largest pipeline in u.s. Work side by side with pipefitters,welders. I personally run a 60" hot induction pipe bending machine. Bend any pipe from 10" to 60" Diameter and .375wall to 6" thick. carbon steel,stainless steel, chrome.also some square tubing.

[Tonka]

None of the poll options fit me 100%. The short; I was laid off January, 2008, re-employed with another employer August.

I am looking closer as to how to save more money each month. With my prior job, I would not worry about how much I was spending because I was discretionary enough and had money left over after each month. Today, despite still coming out ahead (not just as much), I am hyper discretionary because I know mine or anyone's situation can change in an instant. While hemorrhaging money out the eyeballs on investments, I am trying to be as frosty as I can. As long as the values are not zero and I do not sell low, I still have a chance. The bitter/sweet of it, if the values do reach zero, there would be more problems to deal than to worry about money.

[patrick hoover]

Checked #2 and #3. I have been lucky because they did close one of our other plants about two weeks ago.

[MIJeep]

Checked 3 and 4 and I would say within a month I will be checking 5.

Let me use this opportunity to vent a little.

I really appreciate the media jumping all over corporate aviation. Especially Citi corp, that little episode took money directly out of my pocket. It was my company that was supposed to install the interior and paint the aircraft they cancelled.

What the media doesn't tell you about these businesses that are buying new aircraft is that they have been on order for years, long before they were in financial trouble and they put down millions in non-refundable deposits.

You may think that it's an excess that companies don't need but the plain truth(pun very much intended) is that it really is cheaper for companies to have a on demand jet than to pay overpriced last minute commercial airfare.

And why is it ok to give a tax credit to struggling consumers to buy a new car but it's unacceptable for a struggling company to buy an aircraft. Think about the amount of people in the aviation industry that are helped by a purchase of a new aircraft.

The people who build the aircraft
the pilots that fly it
the instructors that train the pilots
the mechanics that service the aircraft
the line guys who fuel the aircraft.
and the many other people who are support staff for the positions above.

I keep hearing that spending money is good for the economy, so why is it not good to buy an aircraft?

It may not seem like it's smart for a company who needed government assistance to be buying anything but the fact is that them spending money creates and supports jobs.

I know I'm biased but I'm here to tell you that corporate jets are not a luxury toy for greedy executives, they are a valuable tool that allows the working management to keep up in a fast paced business world.

Not that it's really a big deal to me, it's just my job.

Rant off......thank you and goodnight.




p.s. The big 3 execs really were idiots, If nothing else they should have carpooled in one jet but do you really socialize and commute with your competitors in any business? I also think that congress was really hipocritical. I wonder when was the last time one of them flew coach? Most of them use corporate jets or better yet aircraft from the Presidential Airwing(on our dime). but we really bought it and they won a few more votes.

[DrLewall]

big corporate companies use corparate funds to fly corporate planes..and your elected officials steal money from you to fly in leased "luxury" airliners.

[matts88yj]

I was laid off after working 6 months with a company. I was one of the last hired so they figured it was easy to let me go. Stinks because I liked what I did. I'm currently looking for another job but even that has proven to be difficult. It's a zoo out in the job market.

My dad was also given a retirement package after his 32 years of working at the same company. Sad part is he did a lot in his department. He is a draftsman and did a lot of valve designing among so much more. He even told me that he has never seen it this bad in a long, long time.

[JeepBSU]

Checked number 3, was unemployed around september, didn't find a job til a few weeks ago, but I am starting school and working now so things are looking up! But most everyone I know is either on hard times or laid off looking for a job. It's hard for a lot of people out there! It was pretty hard in the interim between jobs had to dip very deeply into savings

[wally]

Well I did not select any of them right now. However we were just told this week that we will not be getting a raise this year. The sad part is I work for a major bank and we just bought out another large bank and they told us the purchase of the other bank would be a good thing for us.

[Hodge]

I selected # 5- I work in the flooring industry, which depends on the building industry... We are getting by, but not getting anywhere. Had to put the Jeep up for sale this week- one daughter needs wisdom teeth pulled, the other needs braces. Time to prioritize. Best wishes to all of you suffering out there.

[Rykker]

I checked 2, 3 and 4. My cousin has been laid off and my dad took a 10% paycut. Everything here still seems pretty much the same as before. I have deffinatly felt a pinch at work, no paycut for me or hours cut but no raise either. Im salaried so I get hosed that way. Upper managment is expecting way way more and putting on a lot of pressure on us. Everybody check out your local Arbys here in a week or two, we got some new sandwhiches comming out and they are da BOMB!! Fishnjeeps you will love this ;)

[jphrse]

My wife and I work for the Dept. of Corrections here in Oregon and while they are making cuts none of them are in security, we are however getting busier as the economy gets worse. I am worried about a pay freeze though, it has not happend yet but there is talk about it.
We first moved here because she transfered here. I got a job in one of the local mills as I looked around town at other jobs I realized that if the economy went south so would half of this town that is why I went to work at the prison and I was right half the jobs in town are already gone. The mill I was working for is down to about 20 employees when I worked for them there was about 60.

[Jason Clark]

There are some people around here that are affected by this economy's downturn. Mostly in the construction fields. A lot of people are starting to sell or loan on their tools (lively hood) just to make ends meet. Right now the pawn shop I work at looks like we robbed a Home Depot. Six months ago we looked like an electronics store.

[DrLewall]

probably get some good deals on some tools right now! I may hafta go shopping later on, only problem is, everytime I go to look at tools, I end up at the pistol counter.

[4bob4]

I checked #2. Haven't seen anything too bad yet I'm work for an environmental consulting firm and my wife is a nanny right now while finishing school. In an effort to save for the baby on the way we've cut our spending and realized that we ate out way too much in the past. My company's clients are suffering (many lumber mills and manufacturing sector clients) so we see a downturn in the amount of business we do. It is good for us though that most clients see our services as equivalent to a utility bill, just something they have to do if they want to stay in business (rather than pay OSHA and EPA fines or worse get shut down). My boss (owner of my small company) is very optimistic however and in slow times we are working on ways to expand our business and client load. We have some very promising projects that may pick up with a bad economy and take off if it ever turns around. I'm hopeful.

We're also looking to buy a house while the market is so good (for buyers :rolleyes:). I've just got to sell the one I own down in Columbus (a few prospects there and don't care if i take a bit of a loss on the price I paid 4 years ago). Hopefully be able to do that and as values come back up get some instant equity.

[KG4KPG]

Here in Charleston it is better than a lot of places but still a lot of affect with jobs, housing and consumer goods. Thankfully both my wife and I are working good jobs even though hers isn't as secure as mine. Our groceries cost the same as before our daughter left for the Army even though I buy a good bit less. They say housing isn't bad here but I see a lot of houses left incomplete and I can't sell my townhouse this year like I had planned, want to move out of town into the country. Could be worse but it could be better as well.