More Jobs Lost

[Rocket Doctor]

It was announced today that another 70,000 jobs have been eliminated.
All segments of industry has been affected.

How is the job market in your local?

[sandman]

Well, I live in Michigan... :rolleyes:

I own a small business...what's left of it.

I work with schools.
I can't quit.
I can't collect unemployment.

Enough said. :(

[Rocket Doctor]

Well, I live in Michigan... :rolleyes:

I own a small business...what's left of it.

I work with schools.
I can't quit.
I can't collect unemployment.

Enough said. :(

I wish you all the best in these very hard times. Prayers go out to you and your family.

[MKP]

Not too bad around here, still got a decent economy in castle country. Of course, we depend on the coal industry, and we know how Obama feels about that. :(

[ghrocketman]

I'm in Michigan in the Auto Industry !
Not much worse outlook than that but thankfully has had no impact on my career.

[Nuke Rocketeer]

Nuclear Energy is still booming.....We are still hiring folks

The oil patch is also still hiring.....

[motley16]

i own a small painting co. in pa. the phone stopped ringing in november. so i would say this area is slow. all my fellow painters are also sitting. hope things turn soon. :mad: :mad: :( :(

[luke strawwalker]

Not too bad around here, still got a decent economy in castle country. Of course, we depend on the coal industry, and we know how Obama feels about that. :(


Weeeellll... I wonder how folks are gonna feel about it when they don't have electricity... WHEN it comes to that...

Coal is the ONE energy source we won't have to import and have over a hundred year supply of, even considering population/economic growth...

Don't give me the global warming crap, either... the Chinese have a 200 year supply of coal and they ARE going to use it, whether we like it or not... unless you plan to blow them off the face of the earth... :rolleyes:

Nuclear is good too, but complex and a LONG lead time... :) OL JR :)

[genimijim]

Nuclear Energy is still booming.....We are still hiring folks

The oil patch is also still hiring.....


The oil company I work for is still drilling wells, we are keeping busy maintaining equipment on the old production and hooking up the new production.

Many oil servicing companys around here have scaled back, laying off hands & parking rigs.
The drilling companys around here have stacked most of their rotaries and layed off relief crews.

The people that went wild buying new equipment, expanding when the oil price was high are hurting real bad right now.


Jim

[LeeR]

It was announced today that another 70,000 jobs have been eliminated.
All segments of industry has been affected.

How is the job market in your local?

I work for a small product development company (~150 employees). Our business is diversified, so we are weathering the storm, but business is down, and no layoffs yet. Most of our contract laborers have been furloughed. Many of our customers are hurting. Many are not paying their invoices as timely as they used to, and putting a squeeze on us.

I want to scream at those that rail about corporate greed. Guess what, our company pays about a 40% tax rate! Our owners want to keep business here, but why wouldn't many companies go offshore to escape the anti-corporate sentiment? Ireland is booming, they lowered taxes to 11%. A lot of Europe is starting to swing conservative. Folks scream we will be another France. Heck, at the rate we are going, France might look good in a year. We need to slash taxes, eliminate capital gains, and provide stimulus to the little companies and entrepreneurs to take the risks so they can reap the rewards.

I am afraid by the time this country wakes up, it will be too late. Our freedoms are vanishing. In another generation, or sooner, we will all be totally dependent on the government. This is what I feared would be the eventual outcome of the "We Will Change America" slogan. Sadly, it looks like it is coming at us, full steam ahead.

[Bob Kaplow]

I've been in the IT industry since the mid 70s. The current economy sucks. I've been laid off 3 times in the past 5 years, and have been out of work for well over a year. The jobs just aren't there. If it weren't for my wife's job with benefits we'd be in serious trouble...

This country is in major trouble. W has run this country into a disaster like we haven't seen since the depression my parents lived through. Our government isn't the solution, it's the PROBLEM.

Executives look good by cutting jobs, not creating them. That won't help for long. Can someone name me a company that downsized its way to success? I've been asking that question for several years, and have yet to find a real world example.

Wait another decade, when all the baby boomers like me are collecting their social security, and you kids are going to be forking over more of your paycheck to uncle sam than you get to keep for yourselves. That should do wonders for the economy.

One comment regarding capital gains taxes. What we need to do there is to eliminate the tax on INFLATION and just tax the real gain. If I sell my house, and it's doubled in "value" since I bought it, but all that gain is a result of inflation and not real increased value, there should be no income tax. Ditto on a stock, or a company's investment in a factory.

End the inflation tax, the most unfair tax of all.

[hotrod lincoln]

How is the job market in your local?

Not good. But that is nothing new. In beutiful Cape of Cod it's been difficult for some time, now it's just worse.

One good thing, more people want to keep thier older cars (or can't get a loan for new cars).
Sooo.... that's good for the repair industry.

On the flip side, many repair shops are going under because their businesses have been habitualy held together with bank loans. Not any more.

I gess it's bussiness Darwinisim. Survival of the fitest?

I have noticed more and more folks have many part time jobs. Make a bit here and a bit there. Keep on keeping on.
Also of note, my local area has a very high cost of living. Very seriously looking to move.

.

[Nuke Rocketeer]

I've been in the IT industry since the mid 70s. The current economy sucks. I've been laid off 3 times in the past 5 years, and have been out of work for well over a year. The jobs just aren't there. If it weren't for my wife's job with benefits we'd be in serious trouble...

This country is in major trouble. W has run this country into a disaster like we haven't seen since the depression my parents lived through. Our government isn't the solution, it's the PROBLEM.

Executives look good by cutting jobs, not creating them. That won't help for long. Can someone name me a company that downsized its way to success? I've been asking that question for several years, and have yet to find a real world example.

Wait another decade, when all the baby boomers like me are collecting their social security, and you kids are going to be forking over more of your paycheck to uncle sam than you get to keep for yourselves. That should do wonders for the economy.

One comment regarding capital gains taxes. What we need to do there is to eliminate the tax on INFLATION and just tax the real gain. If I sell my house, and it's doubled in "value" since I bought it, but all that gain is a result of inflation and not real increased value, there should be no income tax. Ditto on a stock, or a company's investment in a factory.

End the inflation tax, the most unfair tax of all.

Don't blame just GW, COngress controls the purse strings and gave in to all his spending and then some. COngress is also to blame for the mortgage bubble, in fact two congresscritters in particular....Barney Frank and Chris Dodd. Due to extensive campaign contributions to them from Fannie Mae and Freddie Mac, they stood in the way of any extensive reforms of those two institutions for the last 8 years. When Bush, McCain and several others wanted to reign in the bad mortgages the Feds were forcing out there, Both of those dimmocrats accused the Republicans of racism and blocked by threat of filibuster any meaningful reform.

I detest the way those two have dodged any blame whatsoever for the mess they caused, and now the solution for this mess is more of the same crap that caused it in the first place.

[sandman]

I have noticed more and more folks have many part time jobs. Make a bit here and a bit there. Keep on keeping on.
Also of note, my local area has a very high cost of living. Very seriously looking to move.

.

Keep those nose cone orders coming in!

Remember, if anybody needs something custom done contact me or Carl.

Bill at BMS is a great guy but...he's not here (YORF), we are.

Try to keep it in the family. :)

[hotrod lincoln]

If the snow would stop I could fix a few more cars.......... and try to get one of those "Sandman" Nikes!


:)

Trying do do my best to stimulate the rocket economy. One purchase at a time!

.

[sandman]

If the snow would stop I could fix a few more cars.......... and try to get one of those "Sandman" Nikes!


:)

Trying do do my best to stimulate the rocket economy. One purchase at a time!

.

I used to work (about 25 years ago) at a VW Jeep dealership.

Snow days were my busiest and hardest working days!

VW and Jeep owner just HAD to go and drive in the snow! :rolleyes: Just to prove they could drive through it! :mad:

[GIJoe]

I may have retired form the Air Force, but I went back to work for him the next day as a civilian. I just hope Uncle Sammy stays fluent enough for me to get an education. Some day hope to teach school. There should never be a shortage of teaching.

Joe

[MKP]

When the "Messiah" was elected I immediately thought of a quote from Adolf Hitler.

"How fortunate for the leaders, that men do not think."

[sandman]

When the "Messiah" was elected I immediately thought of a quote from Adolf Hitler.

"How fortunate for the leaders, that men do not think."

Gee, how astute you must think you are. :rolleyes:

While GW took 8 years to continually wittled away at all that was right and good with this country, it only took you one week you compare our new President to Hitler.

[MKP]

I'm not comparing him to Hitler, I'm just saying that people need to think a little more about how this "Change" is going to come about.
So you lefties are allowed to spew hate all over Mr. Bush, but us conservatives are just supposed to bow to Mr. Obama? I'm sorry, but contrary to what many believe, I am entitled to an opinion.

[sandman]

I'm not comparing him to Hitler, I'm just saying that people need to think a little more about how this "Change" is going to come about.
So you lefties are allowed to spew hate all over Mr. Bush, but us conservatives are just supposed to bow to Mr. Obama? I'm sorry, but contrary to what many believe, I am entitled to an opinion.

"Mr. Bush" gave us 8 years of proof that the hatred was justified.

Obama hasen't done anything yet to justify any hatefull remarks.

He's still trying to pick up the pieces of what was left of our reputation, our credability, our economy.

If he screws up I'll be among the first.

No, I don't "hope he fails" like one right wing commentator has already spewed. Personally I think the Right is just spewing sour grapes 'cause they lost.

I hope he succeeds!

I want a President that has fewer people on this planet hating us when he leaves office than hate use when he started.

When (and if) that happens everything else should work itself out.

[stantonjtroy]

I live in Baltimore and things here are much the same as everywhere else I suppose. I have to confess. I personally am doing well. The company I work for, A world wide Def contractor, just posted a record year, and befor there is an uproar of war profiteering, it's because we serve a truely world wide market. Still I take nothing for granted. Hope all goes well for all.

[luke strawwalker]

"Mr. Bush" gave us 8 years of proof that the hatred was justified.

Obama hasen't done anything yet to justify any hatefull remarks.

He's still trying to pick up the pieces of what was left of our reputation, our credability, our economy.

If he screws up I'll be among the first.

No, I don't "hope he fails" like one right wing commentator has already spewed. Personally I think the Right is just spewing sour grapes 'cause they lost.

I hope he succeeds!

I want a President that has fewer people on this planet hating us when he leaves office than hate use when he started.

When (and if) that happens everything else should work itself out.

So far all I've seen of this vaunted "change" is more of the same... spending and pandering... and pandering and spending... :rolleyes: We'll see... OL JR :)

[Carl@Semroc]

"Mr. Bush" gave us 8 years of proof that the hatred was justified.

Obama hasen't done anything yet to justify any hatefull remarks.

He's still trying to pick up the pieces of what was left of our reputation, our credability, our economy.

If he screws up I'll be among the first.

No, I don't "hope he fails" like one right wing commentator has already spewed. Personally I think the Right is just spewing sour grapes 'cause they lost.

I hope he succeeds!

I want a President that has fewer people on this planet hating us when he leaves office than hate use when he started.

When (and if) that happens everything else should work itself out.I did not agree with many policies of Clinton and Bush, but I always hoped they succeeded. Same with Obama, I hope he succeeds beyond my wildest dreams. Too many people over the last eight (or sixteen) years have been sittin' on a branch sawing the side closest to the trunk. When the President fails, he gets a bad mark in a history book; we get recessions, depressions, ballouts, malaise, layoffs, lost wars, and who knows what all.

I don't blame any President or member of Congress or judge or any elected official. I blame that 50.0001% of the voters that keep voting in so many people that I would not leave alone in a room with anything I had of value. It is a sobering thought that over half of the voters always get the leaders that they wanted.

[MKP]

Do I hope the country succeeds? Yes, of course.

Do I hope that Obama helps the country succeed? Of course.

Do I hope that Obama's socialist agenda fails? Certainly.

[luke strawwalker]

Also of note, my local area has a very high cost of living. Very seriously looking to move.

.

Yep... I had a girlfriend up in New Jersey ten years ago and the cost of living was 33% higher up there back then than it was here in Texas... California's cost of living is rediculous too... OL JR :)

[sandman]

So far all I've seen of this vaunted "change" is more of the same... spending and pandering... and pandering and spending... :rolleyes: We'll see... OL JR :)


So when democrat do it it's "spending and pandering" when republicans do it it's called a bailout.

I'm glad that's clear. :rolleyes:

[Carl@Semroc]

So when democrat do it it's "spending and pandering" when republicans do it it's called a bailout.

I'm glad that's clear. :rolleyes:I think Ol JR was defining bailout as "spending and pandering." More of the same; just a different name. They are trying to confuse us! Sort of like a distraction a pickpocket uses.

[barone]

I think Ol JR was defining bailout as "spending and pandering." More of the same; just a different name. They are trying to confuse us! Sort of like a distraction a pickpocket uses.
ROTFLMAO!

[sandman]

I think Ol JR was defining bailout as "spending and pandering." More of the same; just a different name. They are trying to confuse us! Sort of like a distraction a pickpocket uses.

ROTFLMAO!!! :chuckle:

[Bob Kaplow]

I don't blame any President or member of Congress or judge or any elected official. I blame that 50.0001% of the voters that keep voting in so many people that I would not leave alone in a room with anything I had of value. It is a sobering thought that over half of the voters always get the leaders that they wanted.

Carl, you have to remember the reason this keeps happening over and over and over again:

50% of the population of the US has below average intelligence.

I still have my plan to run for office some day. I have a strategy that will guarantee a victory. I will change my name to "None of the above" :)

[Nuke Rocketeer]

If any denizens here are unemployed I&C engineers/techs in North Carolina, our newly opened office in Charlotte is looking to hire people. We will also need the usual support staff too.


PS.....Westinghouse Nuclear

[o1d_dude]

Add 275 workers to list of those losing their jobs as a result of the economy.

Mrs. OD and 274 co-workers received the news that Penney's is closing the call center after 25 years in this location. Not even outsourcing the work, just shifting the workload to other call centers across the country where wages, taxes, and business expenses are lower.

The kicker is no right to bump other employees with less seniority in other Penney retail locations. Even the managers and supervisors are out on the street.

Told Mrs. OD the time has come to move the company 401K somewhere else and to close out her Penney credit card. Payback may not be the b*tch I'd like it be but I'm certainly not going to bankroll their bottom line any further.

If I sound bitter it's only because I am. :mad:

[wilsotr]

I think Ol JR was defining bailout as "spending and pandering." More of the same; just a different name. They are trying to confuse us! Sort of like a distraction a pickpocket uses.

OK, that was funny ... :)

[Bob Kaplow]

Add 275 workers to list of those losing their jobs as a result of the economy.

Mrs. OD and 274 co-workers received the news that Penney's is closing the call center after 25 years in this location. Not even outsourcing the work, just shifting the workload to other call centers across the country where wages, taxes, and business expenses are lower.

The kicker is no right to bump other employees with less seniority in other Penney retail locations. Even the managers and supervisors are out on the street.

Told Mrs. OD the time has come to move the company 401K somewhere else and to close out her Penney credit card. Payback may not be the b*tch I'd like it be but I'm certainly not going to bankroll their bottom line any further.

If I sound bitter it's only because I am. :mad:

While I understand the desire to "stick it" to a former employer that jsut screwed you, be careful with 401Ks. You don't want to just withdraw the money, and get hit for taxes and penalties, not to mention short changing your retirement.

You've got plenty of time to decide what to do with it.

First of all, make **** sure that NONE of your retirement savings is invested inthe company you work for. Doesn't matter who your employer is. I know too many people that lost their pension and retirement when the company hit rough times.

Second, there's nothing wrong with leaving a 401K with a former employer. They are usually invested in pretty solid mutual funds, and probably have less overhead than you'd get investing on your own. I still have IRAs with two of my former long term former employers. Both were doing very well until the recent market downturn. In some cases, there may be an incentive to do so, if your employer match contributions will continue to fully vest.

If you're going to move it, you can move it to a new employers 401K, or roll it over into an IRA. Again, at various times, I've done both.

That said, not shopping there, and closing the credit card account may be valid steps. Unless you get some sort of retirement benefit like continued employee discount.

Bottom line, you really should check with your investment adviser before making any moves.

[AKPilot]

10,000 going this year in my company. Hope to weather it out . . .

[o1d_dude]

Thanks for the advice, Bob.

Two or three years ago, Penney contracted with Financial Engines to help employees manage their 401K Employee Profit Sharing and Stock Ownership plan. First thing they did was tell Mrs. OD she needed to get her money OUT of JC Penney stock. LOL!

Old James Cash Penney was a pretty sharp guy. He pioneered employee profit sharing plans first offering them to store managers and later to the employees. He lived to be 96. Those days are long gone, tho. He passed away in 1971.

Yes, we're planning to rollover the 401K into an IRA. Well, what's left of it anyway. :(

The upshot of all of this is after 15 months of retirement, I'm probably going to have to go back to work. :eek:

Ah, well. No one ever said this was gonna be easy.

[stefanj]

Intel plant up the street is laying off 1,000 over several months. Hopefully they'll get reassigned to the other local chip fabs. I live in the closest apartment complex; I expect to see a lot of vacancies.

I have a kind of sad hobby / charity thing . When people move out in a hurry they leave piles of stuff by the dumpsters. "Moving sales" I call them; they obviously want others to have a shot at the stuff, but were too busy to sell it.

Whenever I can I clean stuff up and bring it to Goodwill. I've donated several carloads of good stuff. Oregon Goodwill is a great outfit; they're doing booming business these days.

[A Fish Named Wallyum]

I'm not comparing him to Hitler, I'm just saying that people need to think a little more about how this "Change" is going to come about.
So you lefties are allowed to spew hate all over Mr. Bush, but us conservatives are just supposed to bow to Mr. Obama? I'm sorry, but contrary to what many believe, I am entitled to an opinion.

Lefties? :rolleyes:
Well, I'm just going to take the advice that you've been courteous enough to give in your signature and southpaw my way outta here.

[lurker01]

When the "Messiah" was elected I immediately thought of a quote from Adolf Hitler.

"How fortunate for the leaders, that men do not think."


MKP,

Obama aside; things for people over the age of 55 are screwed.

Right now, Pellosi and others in D.C. are trying their best to get the markets back up over 12,000 so they can cash out and preserve their standard of living.

The INTEREST on the TRILLION DOLLAR loans are in the scores of billions. This $814 Billion loan comes with interest that is more than the total of what we have spent so far in Afghanistan.

We are shifting the burden to our children and grandchildren; what narcissistic and weak people we have become.

Let me steer you too a sight that spells it out in plain simple talk:

http://www.glennbeck.com/content/articles/article/198/20816/

If you are over 55, your standard of living WILL fall. The markets and confidence in them will NOT return for at least one more generation (the time it takes people to forget so that they can repeat history).

I feel sorry for you Americans over 55, who did the right thing, who paid your taxes and sent your kids to college. You are about to receive the biggest screwing in American history and it isn't going to be the 'nice' screwing... I feel sorry for you people. Thank you for all you did, but every dog has it's day; nothing is forever.

Bob

P.s. For those of you 45 or below, this is a great time to acquire and hold. Just in my neighborhood alone, houses that were selling for $350K+ 2-3 years ago, are now selling for ~$170k! Buy and hold for your own individual retirement in the next 25 years or so. Your working and bringing in POSITIVE cash flow. By the time you are ready to retire, the markets and speculation should be back and you will live very comfortably in the last couple of decades of your life. Guess you 30 something 40 somethings just got lucky.

[luke strawwalker]

So when democrat do it it's "spending and pandering" when republicans do it it's called a bailout.

I'm glad that's clear. :rolleyes:

Well, notice I DID NOT say that I approved of the bailouts, did I?? I don't approve of ANY of the bailouts, no matter what idiot they originate from...

Personally, I don't think we could do much worse than W., but now I have my doubts. I'm more than willing to vote democrat, just NOT THIS DEMOCRAT...

I'm independent and don't really care for either party... both are sickening... The only politician even in the running I could remotely support was Ron Paul...

When you remove your shoe from your mouth you might think about ASSUMING what someone is saying before you take a shot at them :rolleyes: ... OL JR :)

[luke strawwalker]

I think Ol JR was defining bailout as "spending and pandering." More of the same; just a different name. They are trying to confuse us! Sort of like a distraction a pickpocket uses.


Thank you Carl... that was my point EXACTLY! Guess some folks just don't want to see the same old same old and call BS when it's THEIR guy doing it...

Oh well, shouldn't expect anything different... :rolleyes: OL JR :)

[MKP]

Wow, I suddenly feel like a whipping boy. :mad:

(reverting to lurker status)

[Rocketcrab]

There is a new convention center opening in the city of Lancaster that will provide some jobs in the service industry here, but for the first time in a long time the unemployment rate has steadily increased over the last quarter.

[o1d_dude]

Don't blame me...I voted for Brett Favre!

[dwmzmm]

Well, notice I DID NOT say that I approved of the bailouts, did I?? I don't approve of ANY of the bailouts, no matter what idiot they originate from...

Personally, I don't think we could do much worse than W., but now I have my doubts. I'm more than willing to vote democrat, just NOT THIS DEMOCRAT...

I'm independent and don't really care for either party... both are sickening... The only politician even in the running I could remotely support was Ron Paul...

When you remove your shoe from your mouth you might think about ASSUMING what someone is saying before you take a shot at them :rolleyes: ... OL JR :)

That's who I voted for last November, Ron Paul. Yes, I wrote in his name.

[Bob Kaplow]

That's who I voted for last November, Ron Paul. Yes, I wrote in his name.

I can't recall if Ron Paul was still on the Illinois Republican ballot a year ago. If he was, I certainly voted for him.

I still have my perfect record. When they lowered the voting age I became eligible to vote in the 1972 presidential election. I've voted in every presidential election, and just about every other election since then. I've yet to vote for the candidate that was elected president. In fact, Gerry Ford was the last second place candidate I voted for. In 1980 Republican congressman John Anderson from Rockford IL dropped out of the Republican primary, and ran as an independent. I've been voting for independents ever since.

As long as I'm confessing, I'll plead guilty to voting for Ross Perot. ONCE. Mostly I've voted for libertarians, which any one who knows me probably already figured out.

And no, I NEVER voted for Blagojevich for anything, but would support him if he runs for cell block trash collector in the future. A guy that good looking should do real well in prison :)

[dwmzmm]

I can't recall if Ron Paul was still on the Illinois Republican ballot a year ago. If he was, I certainly voted for him.

I still have my perfect record. When they lowered the voting age I became eligible to vote in the 1972 presidential election. I've voted in every presidential election, and just about every other election since then. I've yet to vote for the candidate that was elected president. In fact, Gerry Ford was the last second place candidate I voted for. In 1980 Republican congressman John Anderson from Rockford IL dropped out of the Republican primary, and ran as an independent. I've been voting for independents ever since.

As long as I'm confessing, I'll plead guilty to voting for Ross Perot. ONCE. Mostly I've voted for libertarians, which any one who knows me probably already figured out.

And no, I NEVER voted for Blagojevich for anything, but would support him if he runs for cell block trash collector in the future. A guy that good looking should do real well in prison :)

Our voting machines here in the Houston area gave us the option of writing in another candidate's name (rather than voting either McCain or Obama). I had already decided before last year that Paul was the one who was getting my vote. Some of my own relatives
criticized me saying that Paul wouldn't win "anyway." My response: The mainstream media
did a great job keeping him out of the limelight. The fact that I DID vote in the last presidential election gives me EVERY RIGHT to have a say so on the good, bad and ugly from
whoever now occupies the White House. What I've seen/heard/read thus far doesn't look
good to me......(time will tell)

[barone]

Just heard today that the local DuPont plant is going to lay off workers. My brother-in-law hasn't been laid off in over 20 years and had to ask my other brother-in-law where the unemployment office was. 20 years ago, they only had one......now there are several.

The layoffs are bad enough...rumors are that the plant will close also. One of the larger employers in the area. But, I guess a lot of people will get hired for the environmental clean-up that would have to occur if the plant actually closes and relocates.