So who's been affected directly by our economy situation?

I'm starting to get a bit nervous.......

I'm fortunate enough to have a job that isn't drastically effected by the economy. I sell a software tool that allows IT Service companies to actually operate with less staff, and more efficiently overall (if used properly), and we are also under a recurring revenue business.......so the deals that we sold last year and the year before are still paying us today. We are actually still growing at a significant pace as well, not like we were when I first started, but still growing at a pace of 3.5-4% per month (as compared to 5%+ a few years ago). I'm really fortunate to have a job that isn't drastically affected by this economy, and I really felt that this would help Lisa and I to not feel any drastic pain with the current situation our country is facing.........

Fast forward to this week. Lisa's a kindergarten teacher, in her second year. She is not yet tenured, however is 3rd from the bottom rung on the seniority ladder. We felt that if there were any issues, she would be OK. Well due to the state aid cuts our governer is pushing down (not sure if I agree or disagree with them all) the school she teaches at is facing drastic spending cuts. It has now been proposed by the Superintendent that 3x of the Elementary Ed teaching positions be cut to make up for the lack of funding.

There is still a small chance that Lisa may not be cut, the school is looking to open a Pre K program next year and she is the only one that is certified to run the program, but this all depends on if the grant money is recieved for the program which is also up in the air at this time. If this doesn't come through, her position will be eliminated, and there are literally no teaching jobs hiring in the state as of now due to state aid cuts. The market is also now flooded with literally tons of teachers with much more experience than her.

Not quite sure what this means for us at this time. We live under our means, and are fortunate that I was able to put a significant amount of $$$ down on our house when we bought it last year (I've got easily a good 50% equity in it even with current sale value), but if I have to take on her school loan for 6 years of private college, car payment, health insurance, and other misc expenses, there isn't going to be a lot left over at all. Not sure what else she is going to be qualified for either, and I'm pretty sure that NY won't have any local teaching jobs opening anytime soon as this is a statewide problem. Not sure if we are going to look at selling and potentially moving to PA, or just hanging on long enough for the economy to turn here hoping she can get into something else eventually.

Anyhow, just venting a bit I guess. Anyone else being affected by the economy, or have some words of wisdom for us?

 

Most of my sales are triggered on people buying new homes and cars. I be screwed at the moment.

 

We are pretty lucky. My truck will be paid off in a few months, so two out of our three cars will be payment free and we just got our interest rate dropped 1.5% by Wells Fargo without refinancing after a few aggressive calls. My Wife is losing her position at work but is guaranteed a position once her department relocates, though it won't be doing what she wants. Our company had a several billion dollar profit for the 4th quarter and is still growing even in this economy, so job security is looking good. I took another position at work that is in a growing sector of the business. We are also getting back some green from the government this year. Our bonuses are coming on the 22nd so we will have no CC debt and some money to throw into the bank. We plan on only buying what we can with our debit cards until the economy picks back up, the only downfall is the wife got rid of the cleaning lady that used to come every other week

 

I own a small car dealership. My wife hasn't worked in over 9 years (well, she worked at home as a stay at home mom....thats hard work, but no income)..needless to say the auto industry sale are way down...if things don't change soon ( and i don't think they will)..i don't know what we're going to do. My wife has picked up a part time job in home health care to help suppliment a little and that has helped a lot...but niether she or the kids are used to her working yet...so i guess to answer the question of this post....yes, it has affected us immensly....needless to say, i will have to tailor down the archery equipment for a while as well as many other things...

 

Despite what anyone says.. I don't believe many people have economy proof jobs.

Whether you are in IT.. housing.. auto.. ETC..

The bottom line is.. until the housing industry is FIXED.. the economy will be in tremendous trouble.

Why? Well that's simple. Americans do not make anything anymore.. everything is done over-seas.

Our DIRECT economy is based on building buildings.. the lowest man on the totem poll really.

You cannot have an surviving economy without something being built.. and right now.. we don't build anything.

So.. no one is safe..

These idiots in washington have us believing that by throwing money at the problem it will go away. That's like going to a casino.. loosing money.. but trying to fix it by continuing to gamble. HUH!?

Fix the housing.. cut back the rates.. let people acquire loans (based on OLD school math).. keep gas costs low.. cut the FED tax.. this will put money DIRECTLY into the peoples pocket. The ones we all need spending. If this doesn't work.. NO HARM.

If that other plan fails.. We're in serious trouble.

We are not at the bottom of this.. not by a long shot. These guys we vote in need to address where this all started.. housing (the ONLY thing we build anymore).. and fix it.

I once read somewhere that 1 american house being built keeps WELL over 1000 people working each day. America doesn't build anything anymore.. and I'm sorry.. but you can't have an economy thrive unless it's making something.

There are no employers without employees.

As far as you Q.. yes I am directly connected to it. And my wife is tenured.. but if you closely follow everything like I do. That doesn't mean anything anymore. No one is safe right now.

 

I feel pretty safe here at the university. My boss recently showed me some numbers from the 3 years before I got here compared to the 3 years I've been here. Spending on outside electrical contractors was down an average of $275,000 per year. The last couple of electricians here didn't do much more than change lightbulbs. Anything more than that they contracted out. Myself and my crew,( 2 good electricians I looked hard to find),do the vast majority of electrical work in house. When the Director of Facilities gives you a pat on the back and says thanks for saving the school so much money, and sends a memo detailing that to HR and the schools Executive VP, well, I feel pretty secure.
My wife, the lovely and talanted Carie, is an escrow agent in a law office. She is the only escrow agent in her office. She generates a substantial percentage of her companies income. So she is pretty secure as well. The way we see it is God is VERY good to us.

 

im just dont wanna spend a dime on anything... not knowing whats gonna happen next! so i've been sticking a ton away in savings, but who knows i prob wont be able to get at that either when this whole mess falls down!

 

I've been affected in a small way but it's because I only have a part-time job due to school. My hours got cut from 13 hours a week to 7 hours a week. While it may not seem like much, it does hurt. Seeing as I only make minimum wage, I only make about $100 every two weeks compared to $100 a week. My dad has been hit the hardest out of my family. He had to give back a good bit of his wages as did everyone else at the trucking company he works for so that the company didn't go under. Now to make up for it, he has been working 15 hour days if you include his commute to and from work.

 

Actually Jeff.. I meant the way it was written.

A metaphorical mess really.:d

 

I feel pretty safe in my line of work, we are still busy and have ongoing projects looming on the horizon. Everyone needs electricity. The girlfriends situation should be pretty stable as well as she's quite high up in her company and they are still growing somehow. I could go on and on about my thoughts & how our country got itself into this mess, but I just may not stop until my fingers are bloody stumps and I've popped a few blood vessels.

One thing that I don't like to see is the widespread panic that causes stable, well off people to stop spending. That's hurting what little economy is left.

Wanted to add
Hang in there Matt, wish you guys the best. Its tough losing an income, but you find ways to make it thru.

 

I have been directly affected as well although I am ok at the moment since I have a place to stay. I graduated college in December with a good paying job lined up as an engineer for a steel making company. When you go back to Duke's post about us not building anything, material providers get hit hard. Steel mill is temporarily shut down and I lost my job before I started.

I had an interview with another company and it went great, they loved me and all but there ultimate decision was that they did not need to take on anymore employees at the time because they didn't know how there future business would be.

So now I am in the process of looking still and being at the bottom rung (no experience except a couple interships) makes it tough to get your foot in the door.

Luckily I can stay with my parents until I find a job but it puts a damper on many plans like moving into my own place, getting a new truck...all that fun stuff.

 

You can't fix anything until the government quits trying to fix things. They stuck their hands in the housing market, and look where it is. People blame the banks for lending faulty/risky loans.....when it was the government who forced them to do so in the first place. If someone can't afford something, they shouldn't buy it...nor should a bank consider giving them the money.

Buying out failing businesses and bad loans with taxpayer dollars is ridiculous.

Anyone have an estate or grandparent worth something? Once 2010 passes, the estate tax cuts will need renewing (good luck convincing Obama of that one)...and they will be back to criminal rates again. Anything over $500k left over after one dies, is hit with nearly a 50% tax rate. So if your grandma dies in 2011 with 2.5 million saved back for her 6 kids to split, those 6 kids can kiss 1 million of that goodbuy...Uncle Sam now owns it. Taxing money that has already been taxed, simply brilliant.

Anyone pay attention to Obama's "tax cuts"? They are based on first reverting back to Clintons higher rates to then cut...many people FAR from being wealthy will experience a tax raise under our new savior including ALOT of my immediate and extended family.


Even IF Obamas 1 trillion dollar "stimulus" package gets the economy up on its feet again....the number of social welfare give outs tacked on there will take a looong time to pay off.


Let the banks loan to who they please, let them fail if they make bad decisions, and let people live within their means.....if they choose not to, tough that was their decision.

Too many handouts these days. Something for nothing. Many Welfare programs and many subsidies should be done away with completely. Some are unneeded, and others are designed to penalize those who try and make it without it.


Luckily, I don't see my position for the future being affected much. I am on a free ride to college, and pharmacy is one of the fastest growing industries in the nation right now...very high demand career. All I have to do is keep the grades up and I should be set from here on out.



With things down though, NOW is the time to invest for those with money. Buy when it is low, sell when it gets high again. The economy won't remain this way forever, and those who can invest now will greatly benefit once it hits the upward track again. Sadly, majority of people aren't in any position to do this....this is when the rich get richer as the saying goes.

 

mmm.... Affected personally? Not really...

You ever heard the old Country song by Alabama: Song of the South?

Well somebody told us Wall Street fell
But we were so poor that we couldn't tell

If Postal went to a 5 day week, I'd be screwed... I dont see it happening, but still something to think about. I Almost have my work vehicle payed off <2000. I also have a ATV payment which I owe more than anything else on I Dont have a mortgage,

BUT

-In the midst of trying to remodel
-Planning a wedding
-planning a honeymoon
-getting married in general

My fiance just bought a vehicle last week. She/We had to have it, She had been driving a 1993 Nissan with over 267,000 miles. I say "we" because Ill be paying on it also in 6 months.lol We got a great deal, unreal deal actually, it worked our awesomely.

When you Gross 20,000 a year.... Getting married and doubling that number doesnt seem so bad

If only about 8-9 people would retire from my post office I'd be sitting pretty good:d

 

I've been very effected by the economy. I own a small milk hauling business that runs 7 days a week, 365 days of the year, 200 miles a day on average my milk truck puts on. The high diesel prices have hurt me terribly. Last year on average I lost $1800.00 a month from the year before because of the high diesel price. I do get a fuel surcharge but It Isn't nearly what It should be. The bad thing Is I bought a brand new 2007 Sterling Truck In October of 2006 being my other milk truck was getting to old and to many miles. That new truck cost me $160,000 so that added monthly payment along with the rise In diesel really Is killing me. Each month I'm getting by but not by much. Last year I got nervous so I went and talked to the bank and took out a $15,000 home equity loan In case I'm not able to cover my bills. I've had to dip Into It 3 times with In the last 3 months. Almost half of it Is gone being I needed a shingle job and Fascia and Soffet for my house, my roof was leaking bad this fall so It needed fixing regardless If I had the cash or not. A huge kick In the shorts It was! If the big bills stay away and no unexpected big expenses happen with my milk truck I hope to make It another year. This summer I plan on doing some part time field work for some of the dairy farmers I pick up milk for so I can make some extra cash. I won't go down with out a fight, that I can promise you!!

 

The big problem also with this economy Is people have been over spending for way to long. Everyone thinks they have to have the best car or the nicest looking house on the block. Years ago these people's parents didn't do this, they were much smarter with there money. I don't feel sorry for the people who over spended and lost there house. I feel sorry for the folks who worked there but off but lost there house because of lay offs and such.

 

Well, it has hurt me some, but I think it will get worse for me this summer. THe place that I work at, has a busy season, and then a slow season. (and our slow season means that we might not have ANYTHING to work on for that time) In a normal year, starting the week of Thanksgiving, we will start working 65-70 hour weeks, and this will usually last until sometime in April. Then from April to Thanksgiving, we will normally have one trailer to work on every 2-3 weeks, the rest of that time is spent cleaning. I should mention that I work at a company called Featherlite Graphics, and we paiint all of the Nascar trailers.We can have a trailer painted in 4 days, so that leaves alot of down time in the summer.Anyways, our down time has already started 2 weeks ago. So, the boss has cut us all back to 32 hours a week, but I am a little scared about what will happen in the coming months.

 

i feel im pretty safe... i work for a defense company for the military called atk... we make all the "good" stuff... were boomin like no other.. new contracts comin every month.. there actually startin to take on more than they can handle

 

Not yet, but with Caterpillar laying off 20,000 people and supplying them parts being 75% of our business it may not be too long. Actually we have slowed down quit a bit already. But we have some maintanance to do and that sort thing to keep us busy for a while.

 

I'm lucky. I got into a profession that actually increases when the economy goes bad. I work for a city government, thank God, so I'm hoping with enough time on the job that there will be no cuts in our service. Although there is talk of "manpower brown outs" and closing a station to save manpower. I wonder if the people calling 911 will also scale back their needs?

 

You sir, Have one cool job. IDK what you do there, but it has to be cool.

Can I be a tester there???