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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
 Posted - 01/14/2009 : 18:37:42
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I got a call from my boss a couple of hours ago. We let 1000 people go today out of 25,000. Fortunately, I was not one of them. I had a real good sales year last year, which I am sure has helped. I am supposed to be getting a nice bonus. I guess I will not be tempted to spend it on stuff that I "want." Instead I will use all of it to pay down my morgage.
It scared my wife when I told her. Maybe this will help her stay within the budget that we set for household spending.
I also have been talking for a couple of years about building an invention for an idea that I have. Maybe this is the time to get it going as a backup.
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Nickelless
Administrator
USA
5580 Posts |
Posted - 01/14/2009 : 19:07:57
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| My company announced yesterday that 15 people are about to be let go as well, but I'm high enough up the seniority list that it won't affect me directly, but what worries me is the effect on employee morale and the increased workload. I've been trying to convince my freespending mother that she really needs to start reining in her own spending, and maybe this scare in my company will get her to start making more responsible fiscal choices as well. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/14/2009 : 19:29:42
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| Keep cash handy guys. Even if it is in the form of a ton of nickels or pennies. As tempting as PMs are.........and there is a place for them.............you will still sleep better if you have cash on hand just in case. |
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Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 01/14/2009 : 19:57:54
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quote:
Originally posted by Ardent Listener
Keep cash handy guys. Even if it is in the form of a ton of nickels or pennies. As tempting as PMs are.........and there is a place for them.............you will still sleep better if you have cash on hand just in case.
Would it be better to have cash on hand right now, or buying other things such as food and other items we'd need anyway? I'm having a hard time with arguments about keeping cash on hand at the moment while it seems to make a lot more sense to use that cash right now before prices skyrocket. I'd sleep better at night knowing I have a year's worth of food than knowing my cash is depreciating in purchasing power. Help me out with the arguments on both sides.
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Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/14/2009 : 20:07:49
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| The company I work for has let 30 FT and 10 PT people go so far. The outlook for 2009 is very very very bad. Im pretty sure that next week there is going to be at least 5 more people laid off. I think within 3 months I will be let go. Theres just not enough work to keep even the good employees around.... |
Copper Penny Investing
www.portlandmint.com |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/14/2009 : 20:09:24
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
Keep cash handy guys. Even if it is in the form of a ton of nickels or pennies. As tempting as PMs are.........and there is a place for them.............you will still sleep better if you have cash on hand just in case.
Would it be better to have cash on hand right now, or buying other things such as food and other items we'd need anyway? I'm having a hard time with arguments about keeping cash on hand at the moment while it seems to make a lot more sense to use that cash right now before prices skyrocket. I'd sleep better at night knowing I have a year's worth of food than knowing my cash is depreciating in purchasing power. Help me out with the arguments on both sides.
I'm doing both. You will still need to pay your taxes and bills with cash for a long time yet. I admit feeling great when I come home with another case of tuna fish though. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/14/2009 : 20:13:23
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quote:
Originally posted by highroller4321
The company I work for has let 30 FT and 10 PT people go so far. The outlook for 2009 is very very very bad. Im pretty sure that next week there is going to be at least 5 more people laid off. I think within 3 months I will be let go. Theres just not enough work to keep even the good employees around....
At my office today, one of my patients was on her cell for over one half hour waiting to talk to the unemployment office. It was her second try today to reach them. Her batter gave out before they came back on......... |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/14/2009 : 20:59:11
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| My son has been without work since Oct, and just got his first unemployment check this week. We provide a lot of financial help to our son and grandkids. The company I work for could be on the verge of filing for bankruptcy, and been in business for 112 years and employs 46,000. They have already said they will be eliminating 10% of the workforce, but that was before some recent bad news. |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/14/2009 : 21:16:11
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| I understand if noone wants to be specific, but what industries are getting hit so bad? |
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darsemnos
Penny Sorter Member
96 Posts |
Posted - 01/14/2009 : 21:48:54
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Defense is doing fine as far as I can tell. The company I work for is hiring. I think they need 2,000 or more people for work that is supposed to start on submarines soon.
Of course defense contractors are essentially in perpetual "bail-out" mode, so they catch a break during these times, at lease for now. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/14/2009 : 22:22:38
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quote:
Originally posted by fb101
I understand if noone wants to be specific, but what industries are getting hit so bad?
The company I work for is a manufacturing place. They make everything from scissor lifts to skidloader parts to Agricultural knifes. They have flat and tube lasers that cut steel, press brake bending machines, turrent puch, machining centers, a waterjet, welders ect Everything was going great. Had 2 record months over the summer. They started hiring a bunch of people because we couldnt keep up. We had group meetings with customers and out top 10 customers told us they were planning on nearly doubling their output and to expect a lot of orders.
Than all of a sudden BAM!!! Our #3 customer just suddenly stops all orders and doesnt pay for the stuff we just sent them...1 month later they go bankrupt. BAM our #1 biggest customer starts doing HALF of what they were doing and lay 25% of their employees off. (They now work 4-8 days a month and have laid off 75% of their employees) BAM Our # 4 and 5 customers both say they are cutting orders and are going to start doing everything in house. #4 just now announced that they are closing the plant for good.
All happened withing a THREE WEEK period!!!!!! We had no warning. Many of us expected that things couldnt keep going like they were...but they always seems to just keep growing and growing and growing. NEVER expected it to happen so quick
Im still in shock how we can have a meeting one week and say that our #1 customer is going to double their output and we are to find ways to be more efficent and expect this ect ect to 1 week later they lay off 25% to 1 month later they shut down for 2 weeks than on for 2 than off 2 to next month work 4 days to next month work 8 days |
Copper Penny Investing
www.portlandmint.com |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/15/2009 : 05:19:54
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financial services are getting killed.
fyi - official unemployment is about 7%. if they didn't cook the books, it would be about 13%. That is about half way to the level we got to during the First Great Depression. I fully expect this time will be as bad as last time. It may be worse with a totalitarian political element in the U.S. rather than in Germany. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 01/15/2009 : 14:37:21
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Hi all,
I'm about to get my master's degree in teaching; I think that's a pretty safe industry to get into- you NEED schools and teachers, unless the entire United states just implodes and people are eating each other- in which case, I'll get my master's degree in Mad Max.
I'd have about 3 month's worth of food on hand at all times, 1 gun for each member of your family, and 1 year's salary in PM's.
Lots of seeds wouldn't hurt either.
All we can do is ride out the storm and see what happens.
wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 01/15/2009 : 14:49:03
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quote:
Originally posted by wagsthadog
I'm about to get my master's degree in teaching; I think that's a pretty safe industry to get into- you NEED schools and teachers....
Be careful, there.... most public schools get their funding from property taxes, which are tied to home values. Guess what home values have been doing lately. Guess what effect that has on property tax revenues. Guess what effect that has on school funding.
Communities need schools as badly as cancer patients need chemo... absolutely, if they can afford it. |
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Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 01/15/2009 : 15:12:59
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quote:
Originally posted by Cerulean
quote:
Originally posted by wagsthadog
I'm about to get my master's degree in teaching; I think that's a pretty safe industry to get into- you NEED schools and teachers....
Be careful, there.... most public schools get their funding from property taxes, which are tied to home values. Guess what home values have been doing lately. Guess what effect that has on property tax revenues. Guess what effect that has on school funding.
Communities need schools as badly as cancer patients need chemo... absolutely, if they can afford it.
Hi there-
Absolutely right, but the LAST thing they'll cut back on is the teachers themselves. First to go would be extracurricular programs and sponsorships, followed by extraneous sports. Last two things to go would be bus service and assistance staff, in which case, what's the point? 
If it gets to the point where there are no SCHOOLS in the US, then it's over...
wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/15/2009 : 16:15:06
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quote:
Originally posted by wagsthadog
quote:
Originally posted by Cerulean
quote:
Originally posted by wagsthadog
I'm about to get my master's degree in teaching; I think that's a pretty safe industry to get into- you NEED schools and teachers....
Be careful, there.... most public schools get their funding from property taxes, which are tied to home values. Guess what home values have been doing lately. Guess what effect that has on property tax revenues. Guess what effect that has on school funding.
Communities need schools as badly as cancer patients need chemo... absolutely, if they can afford it.
Hi there-
Absolutely right, but the LAST thing they'll cut back on is the teachers themselves. First to go would be extracurricular programs and sponsorships, followed by extraneous sports. Last two things to go would be bus service and assistance staff, in which case, what's the point?
If it gets to the point where there are no SCHOOLS in the US, then it's over...
wags
My wife has her teaching masters degree. Teaching is rather stable as far as jobs go. Back in the not too distant past teachers were leaving the field because they could make much more money in the private sector. Things have changed now. Some local tachers are being riffed because of cut backs by the school boards. Huge amount of teachers getting their pink slips in vegas. But nothing like you see in the private sector. One bad thing about teaching is that if we go into hyperinflation don't expect your wages to keep up with similar professionals in the private sector. |
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All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/15/2009 : 16:17:52
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actually, they just stop hiring new teachers and let the class sizes get a little bigger.
The teachers unions have been tremendously effective in the last 10 years. Average class size have fallen from over 30 to about 15. Lots of teachers also have in-class aides. Schools can easily drop the aides and double up to 30+ in a class. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 01/16/2009 : 08:21:34
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I work for a specialty chemical company. We make cleaners and sanitizers. My division makes them for dairy farms. We had a great year last year, but they dairymen aren't getting paid anything for their milk this year. It is going to be dog eat dog in the marketplace for my division.
The main business for my company sells cleaners to resteraunts and hotels. People aren't travelling or eating out. No dirty dishes means my co-workers aren't selling dish soap... We saw the same thing after 9/11. However, last year the cost of raw materials for our products went through the roof. We passed on price increases, but could not pass them all on due to contracts. The slowdown and increased costs are what are hurting us.
I think that my company is sound, I made some great strides in my territory last year that should have provided astronomical growth ($ bonus) for me in2009. Now I am not so sure that I will grow my sales numbers, but I am going to do everything that I can to do so. If there is another round of cuts, I don't want to give them any excuses. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 01/16/2009 : 09:39:27
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| I believe that I read somewhere that 100 billion of the next stimulus package (the Obama deal) is going to fill the state gap in education funding. This should help education continue to be one of the safer place to be. But who knows for sure 100 billion can be spend very quickly these days.... |
Edited by - horgad on 01/16/2009 09:40:10 |
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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 01/16/2009 : 10:31:50
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The answer to our problems is inflation. The problem is inflation isn't a good way to fix problems. It will hurt everyone very badly and people will be ticked at the government.
Market/Business goes down due to government messing with it..... people cry to government....government messes with it.... fix problem A and cause new problems.... repeat cycle.
They need to keep the banking system afloat... They don't need to give a crap about the bank stockholders or non deposit creditors....but keep the deposit side of banking afloat.
The rest of the business world needs to work itself out. It will be very painful.
Look at housing... we have years of inventory, and more is coming up for resell than being sold. That isn't even including new buildings which is now almost nil i think.
Look at autos.... we just had employee pricing about 3 years ago, and mass 0% financing about 5 years ago. If a car last 10 years, then we have a while before we need to return to early to mid 2000s production levels. Plus we have a ton of used car inventory that needs to be consumed as well.
Look at clothes and household goods, I think for the most part people have what they need. I know their will be some replacement cost, but most people don't need stuff right now.
We have pulled forward sales from this 2009- XXXX period to 2003-2006. We already supplied most/alot of the goods to the people, so we don't need old production levels.
This is why World War II got us out of the Great Depression. It put mass amount of people to work and it created demand for military goods. Without much production for normal consumer goods.... after the war ---- people needed stuff and a lot of it .... kicker is they had money now too as people had jobs for the past 3-4 years.
You can't print your way out of this mess. You have to be able to create demand for goods. All of the printing is just being retained by the banking system due to massive losses. There really isn't enough people that want to borrow money that have the solid means to repay. I bet the banks would love to loans some money to someone that doesn't need it.
-SWUSC
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`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 01/17/2009 : 06:56:04
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I agree with SWUSC, If I lost my job today, there is almost nothing that we would have to buy.
We have enough clothes to last a long time.
We have a car that could last us 4-5 years with minimal costs (other than gas).
We have 6-12 months worth of food which can be extended by a garden come spring.
I get 50% of my heat from firewood on my own land. I could easily convert this to 90%
All that would leave is electric, phone, taxes and insurance. Those don't drive the economy. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/17/2009 : 09:33:34
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Yes, in my opinion it was WWII that got us out of great depression. Folowing WWII the standard of living in America and Canada really started to take off. If you look at the size of the average house prior to WWII and those of even the 1950s, then it is clear that people expected more from life and for the most part got it. Sure, there were periods of over building and certain sectors expanding to excess since the 1950s and the current bust. But they were relatively week and short compaired to what we appear to be seeing now.
I don't see how the average standard of living (if you measure it as we did in the past) will be able to increase or even hold over the next three to five years. But it may be possible for a new type of standard of living and economy to come out of all of this. One not based on massive goverment spending for wars or on such things as the space program. But rather, one based on self sufficiency and self responsibility. It could lead to happier, healthier, and more productive lives over the long term. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Nickelless
Administrator
USA
5580 Posts |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 01/19/2009 : 12:36:58
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Healthcare.
It has been remarkable to see the number of surgeries two years ago that are just not being done. Hip and Knee replacements for athritis. People are not going to the Emergency rooms for sniffles.
People are also waiting to go to the ER until it really is an emergency and much worse than if they had seen thier own doctor weeks before.
Healthcare is also getting very aggressive with bill collection, and frequently giving discounts, my hospital gives a 25% discount if you pay your bill before you go home.
This hospital has layed off 15% of the employees from what they had two years ago. Most cuts are house keepers, book keepers, but so far only a few nurses and administrators have been laid off.
There is a general fear of who is next. Productivity is way up. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 01/20/2009 : 21:55:39
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They can't cut nurses/doctors to much/if any. If they cut doctors, then someone dies..... Nice fuel for a lawsuit.
So you cut dr staff to save a little money, and now Mr. Poorguy is dead. Mr. Poorguy might still be with us if you had more doctors. Attorney thinks the Jurors should give Mrs. Poorguy a nice large amount to teach you greedy hospital administrators a lesson.
-SWUSC |
`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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My company let 1000 people go today.
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