Ursa Majoris Posted January 29, 2009 Share Posted January 29, 2009 +2. I'm afraid some of our worst fears will be realized before this turns around. An odd local trend - Two months ago, people were buying guns like nuts - the shelves were bare. This month, food storage items have been flying off the shelves. A local market that specializes in bulk wheat, rice, beans, powdered milk and eggs, etc is freakin' bare. Anybody else seeing this type of thing? Not here but then I likely wouldn't notice. What I have seen is the local supermarket packed out on Saturday the last two weeks whereas it used to have half the number of people. No idea why, unless it's now the only place people shop. Local Best Buy and malls are almost deserted. One large covered mall here has only three vendors left in the food court of the original ten. Side note: I recently maxed out my 401k, theorizing that I might as well buy in at the bottom. I'm beginning to wonder if my eight years to retirement (well, that's still the plan) will be long enough - maybe I should invest that money in garden tools, seeds and chickens. This really is a massive correction in the way we live and it may be permanent. Very long term, not necessarily a bad thing. Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted January 29, 2009 Share Posted January 29, 2009 This month, food storage items have been flying off the shelves. A local market that specializes in bulk wheat, rice, beans, powdered milk and eggs, etc is freakin' bare. Anybody else seeing this type of thing?[/color] My grocery store was out of Mini-Wheats yesterday. . .does that count? Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 29, 2009 Share Posted January 29, 2009 In answer to the original question....too many!!! Friends, a relative or 2, friends children (That's the scary one). But a question or 2... How much of this is a company truly struggling and how much is it just companies using it as an excuse to cut back on employees, make the remaining ones work harder and longer, and maximize profit/cash for the higher ups? How many execs are being released vs the workers? Is the ratio consistent? I think not but then I don't have the numbers. Don't jump on me for being socialistic, but the situation makes me think long and hard for answers, as I saw it before in the 70'/80's. Fat cats got fatter and the working man/woman took it up the kazoo! Answers please. Quote Link to comment Share on other sites More sharing options...
millerx Posted January 29, 2009 Share Posted January 29, 2009 In answer to the original question....too many!!!Friends, a relative or 2, friends children (That's the scary one). But a question or 2... How much of this is a company truly struggling and how much is it just companies using it as an excuse to cut back on employees, make the remaining ones work harder and longer, and maximize profit/cash for the higher ups? How many execs are being released vs the workers? Is the ratio consistent? I think not but then I don't have the numbers. Don't jump on me for being socialistic, but the situation makes me think long and hard for answers, as I saw it before in the 70'/80's. Fat cats got fatter and the working man/woman took it up the kazoo! Answers please. I've been pondering the same questions. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 29, 2009 Share Posted January 29, 2009 I've been pondering the same questions. TY! I was hoping I wasn't the only one w/ those thoughts. Anyone else? Quote Link to comment Share on other sites More sharing options...
driveby Posted January 29, 2009 Share Posted January 29, 2009 A record number of teachers in Houston ISD saw their bank accounts grow Wednesday when the school district doled out $31.4 million in performance bonuses. Not everyone is struggling These bonuses are a joke. Quote Link to comment Share on other sites More sharing options...
Randall Posted January 29, 2009 Author Share Posted January 29, 2009 Holy cow. WASHINGTON - The government says the number of people receiving unemployment benefits has reached an all-time high as layoffs spread throughout the economy. The Labor Department said Tuesday the number of laid-off workers continuing to claim unemployment insurance for the week ending Jan. 17 was a seasonally adjusted 4.78 million, the highest since records began in 1967. The department also says the number of Americans filing new jobless benefit claims rose slightly to a seasonally adjusted 588,000 last week, from a downwardly revised figure of 585,000 the previous week. Both results were worse than analysts expected. The report comes as large corporations from virtually all sectors of the economy are announcing massive layoffs. Just before the report, Kodak Co. said it would be cutting up to 4,500 jobs. Quote Link to comment Share on other sites More sharing options...
Scourge Posted January 29, 2009 Share Posted January 29, 2009 They just announced that my company was laying off 3000 employees. No one knows who yet. We are all waiting for the other shoe to drop.. Quote Link to comment Share on other sites More sharing options...
whomper Posted January 29, 2009 Share Posted January 29, 2009 They just announced that my company was laying off 3000 employees. No one knows who yet. We are all waiting for the other shoe to drop.. Jeez. Good luck bro Quote Link to comment Share on other sites More sharing options...
TimC Posted January 29, 2009 Share Posted January 29, 2009 My grocery store was out of Mini-Wheats yesterday. . .does that count? :grabstorch: Quote Link to comment Share on other sites More sharing options...
Seahawks21 Posted January 29, 2009 Share Posted January 29, 2009 I live with three other roommates. We are all between 29-31, all reasonably bright, all hard, responsible workers. Two of my roommates are laid off construction workers who probably won't be brought back and can't find work elsewhere. My other roommate got demoted last week from managing a Radio Shack. He is now a "floater" trying to get hours. (Radio Shack seems to think their managers are the problem, and refuse to acknowledge the economy. 11 store managers got fired/demoted locally in the last two weeks). Personally, I got my hours cut in half. Still trying to find out if they are going to allow me to collect partial unemployment. If not, I am no longer "getting by". I've been working my web of contacts to try and find another job, but I don't know that there are any employers out there that are hiring right now. I've got a wedding in six months to pay for and my savings are dwindling rapidly. My stocks and mutual funds are about down to nil, so no pulling out there. Okay, now I'm just whining. As you were. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 29, 2009 Share Posted January 29, 2009 (edited) Not everyone is struggling These bonuses are a joke. You think that's a joke? How about this? There's little sympathy for Wall Street bonus babies. On Jan. 28, New York State Comptroller Thomas P. DiNapoli issued a report showing that bonuses fell 44% in 2008—yet the size of the securities industry bonus pool, estimated at $18.4 billion, was the sixth-highest on record. Considering that many Wall Street firms benefited from federal bailout dollars, the online reaction has been swift—and negative. To many commenters, the idea of bonuses as layoffs keep mounting and businesses go bankrupt shows just how out of touch some financial firms are. As one wrote on The New York Times Web site: "This is hard to believe and impossible to read with equanimity. Wall Street should be hanging [its] head with shame. Instead, it plunges forward with mad self-enrichment at the expense of the rest of the country, even the rest of the world!" Adds another: "Take the money back and grind up the offenders into cat food," wrote a Times commenter, who identified himself as being from Montana. I wouldn't feed these filthy scumbags to my cats. the average bonus declined by 36.7%, to $112,000, in 2008 Edited January 29, 2009 by Ursa Majoris Quote Link to comment Share on other sites More sharing options...
millerx Posted January 29, 2009 Share Posted January 29, 2009 I live with three other roommates. We are all between 29-31, all reasonably bright, all hard, responsible workers. Two of my roommates are laid off construction workers who probably won't be brought back and can't find work elsewhere. My other roommate got demoted last week from managing a Radio Shack. He is now a "floater" trying to get hours. (Radio Shack seems to think their managers are the problem, and refuse to acknowledge the economy. 11 store managers got fired/demoted locally in the last two weeks). Personally, I got my hours cut in half. Still trying to find out if they are going to allow me to collect partial unemployment. If not, I am no longer "getting by". I've been working my web of contacts to try and find another job, but I don't know that there are any employers out there that are hiring right now. I've got a wedding in six months to pay for and my savings are dwindling rapidly. My stocks and mutual funds are about down to nil, so no pulling out there. Okay, now I'm just whining. As you were. I don't see it as whining, but rather venting! And feel free to vent, I have no problem with it. In fact, it can be very therapeutic. Good luck in your situation, I was there up until about 6 months ago. Quote Link to comment Share on other sites More sharing options...
driveby Posted January 29, 2009 Share Posted January 29, 2009 How much was your bonus last year? Quote Link to comment Share on other sites More sharing options...
tazinib1 Posted January 29, 2009 Share Posted January 29, 2009 I just got a call for a 3 week gig for a feature film in Palmdale,Ca. Lodging and per diem is included. Only problem is we don't start rigging power until the 18th of FEB. Once rigging is done (3 locations plus any studio rigging to be done so 1 week I assume) then we start shooting. So all in all, it should be 4 weeks of 6 days a week work. Hallelujah!! Now I just have to figure out how to get by until then as I just got my tax's done yesterday only to find out I OWE for the first time in my life. Quote Link to comment Share on other sites More sharing options...
twiley Posted January 29, 2009 Share Posted January 29, 2009 In answer to the original question....too many!!!Friends, a relative or 2, friends children (That's the scary one). But a question or 2... How much of this is a company truly struggling and how much is it just companies using it as an excuse to cut back on employees, make the remaining ones work harder and longer, and maximize profit/cash for the higher ups? How many execs are being released vs the workers? Is the ratio consistent? I think not but then I don't have the numbers. Don't jump on me for being socialistic, but the situation makes me think long and hard for answers, as I saw it before in the 70'/80's. Fat cats got fatter and the working man/woman took it up the kazoo! Answers please. Most of the job cuts I'm seeing around here are mid - upper level management. They're trimming the fat by getting rid of the overpaid. Unfortunately that's equating into longer hours for everyone else but it could be worse - they could be unemployed. Quote Link to comment Share on other sites More sharing options...
Big John Posted January 29, 2009 Share Posted January 29, 2009 Add ESPN to the list http://deadspin.com/5141326/george-bodenhe...climate-were-in On a serious note, good luck to all you guys that are nervously waiting to see if you are affected. To all that have felt the blow, god speed in bouncing back. I find this particular group of people here at TheHuddle a pretty cool bunch of people and I'd hate to see any of you fall on hard times. Then they hire Herm Edwards Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 29, 2009 Share Posted January 29, 2009 I don't personally know anyone locally who has lost their job. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted January 29, 2009 Share Posted January 29, 2009 Our local economy still seems to be doing pretty well. I don't know anyone that has lost their job in this area. I know our construction market is doing really, really, well. Anyone worth a darn is busy as they can be. Having said that I have noticed a slight difference in people's dinning patterns. It seems as though more people are going to fast food places than to traditional sit-down eateries. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 30, 2009 Share Posted January 30, 2009 How much was your bonus last year? Way less than a quarter of that average and in fairness I did work my own #2 job and the vacant #1 job for over nine months. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted January 31, 2009 Share Posted January 31, 2009 My corp is sending out layoff notices Friday. We've been told my job class isn't targeted, but until Friday, I won't know for certain... :nervous: Still employed. Very fortunate in this day and age. Quote Link to comment Share on other sites More sharing options...
Big John Posted January 31, 2009 Share Posted January 31, 2009 My sister just told me that her company was downsizing and closing the office where she is. She was offered relocation, but with family is unable to do so. Quote Link to comment Share on other sites More sharing options...
Seahawks21 Posted January 31, 2009 Share Posted January 31, 2009 My sister just told me that her company was downsizing and closing the office where she is. She was offered relocation, but with family is unable to do so. Gosh, rough. Got me thinking...I never thought I would see the day where it actually helped me out a lot to be an unmarried renter. If things get really bad, I can pack up the wagon and head for greener pastures at any time. It is becoming a very scary situation for those with families or those that just bought homes. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 1, 2009 Share Posted February 1, 2009 there is a very good chance this gets worse. stay strong! Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 1, 2009 Share Posted February 1, 2009 (edited) there is a very good chance this gets worse. stay strong! unfortunately, it WILL get worse (edit to add: at this stage I would say it would be a good outcome if we stay under 8.5% unemployment and I expect the labor market will stay weak at least until deep into 2010) Edited February 1, 2009 by wiegie Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.