Economy woes

[MallenManson]

How bad is everyone getting hurt?
So far I've been reasonably safe, although we haven't been allowed OT in over 3 years. Boss said today that we currently have 5 weeks of work left but we've got some bids out that we're hoping to get (I'm a roofer).
2 more construction companies are going belly up around here, Artec Interiors and Arms & Cole Mechanical.
Really makes you wonder when it's ever gonna turn around

[MallenManson]

No worries! I just found out I won the Irish Lottery!

[Christopherkeene9]

Don't really understand it being all that bad. Keep going out to places on the weekends and they are all PACKED. Was at the French Quater in Charleston this past weekend and all the high end restaurants were full and the Club was full too!

[WTL]

Its a regional crisis but it is being made into a universal one by the bailouts.

Most of the mortgage problems were linked to certain areas of Florida, Cali and Las Vegas and those sent shockwaves through financial sectors which caused the collapse of banks and has now in turn caused the motor giants to fall. The government in response has in turn put everyone on the hook through bailouts. The bailouts are paid for not through direct taxation but debt and the printing of money. When the dollar falls, it will be truly universal.

[nofearengineer]

Yeah...don't ya love how we paid all of that money to GM to keep them out of bankruptcy? Oh wait...they filed Chapter 11 today. Um, I want my share of the 80 billion back.

On the plus side...my firm does a lot of hospitals and schools, so I don't want to jinx things, but we're fairly recession-resistant. We always need more hospitals ans school buildings, as long as the lawyers are out there jacking the building codes so we have to build new stuff.

I feel sorry for people who legitimately lose their job because of this mess through no fault of their own. It's like they say...the unemployment rate is never bad until you're one of the ones without a job...then it's 100%.

[MrPhotographer06]

Originally Posted by Christopherkeene9

Don't really understand it being all that bad. Keep going out to places on the weekends and they are all PACKED. Was at the French Quater in Charleston this past weekend and all the high end restaurants were full and the Club was full too!

only a couple hours away and didnt tell me

[bamabassman]

well we were gonna be in a tight spot. but we have sold our house. so we are gona be allllright now. won't have a lot of cash, but no credit cards to worry bout. so i think we'll finally see some light after the storm passes now.

[bcklash]

Originally Posted by nofearengineer

It's like they say...the unemployment rate is never bad until you're one of the ones without a job...then it's 100%.

Thats what they say, but we have 1800 on layoff at my plant, including me. Yea it's bad. But being a UAW union worker I believe it will get better.

[BigBassin144]

Originally Posted by MallenManson

How bad is everyone getting hurt?
So far I've been reasonably safe, although we haven't been allowed OT in over 3 years. Boss said today that we currently have 5 weeks of work left but we've got some bids out that we're hoping to get (I'm a roofer).
2 more construction companies are going belly up around here, Artec Interiors and Arms & Cole Mechanical.
Really makes you wonder when it's ever gonna turn around

My dad's company is a distributor of doors and the occasion window, so we know all to well about the contrustion industry. I was working with my dad on a big job earlier in the year and as soon as it was done, I had to leave, and they started sending everyone home early.


BB

[66KingFisher]

We got mother natures stimulus plan here(a tornado).....Roofers and contractors went from nuthin to do, too bein covered up with work.....Guess it all works out in the end.

[brushhog]

Originally Posted by WTL

Its a regional crisis but it is being made into a universal one by the bailouts.

Most of the mortgage problems were linked to certain areas of Florida, Cali and Las Vegas and those sent shockwaves through financial sectors which caused the collapse of banks and has now in turn caused the motor giants to fall. The government in response has in turn put everyone on the hook through bailouts. The bailouts are paid for not through direct taxation but debt and the printing of money. When the dollar falls, it will be truly universal.

If, when, the dollar collapses we will really see a 1930esque collapse. When the gv't accrues debt and over extends itself we are in tenuous place. WTL, I'm sure you could an appropriate history lesson...I'm a school teacher and even we are cutting people. In New York State that is extremely rare.

[Christopherkeene9]

Originally Posted by bcklash

Thats what they say, but we have 1800 on layoff at my plant, including me. Yea it's bad. But being a UAW union worker I believe it will get better.

That's a HUGE part of why we are in the situation now. And why I, my kids, and grandkids now own part of GM

[Christopherkeene9]

Originally Posted by MrPhotographer06

only a couple hours away and didnt tell me

Wedding, Plenty of Chicks and things to do

[WTL]

Originally Posted by brushhog

If, when, the dollar collapses we will really see a 1930esque collapse. When the gv't accrues debt and over extends itself we are in tenuous place. WTL, I'm sure you could an appropriate history lesson...I'm a school teacher and even we are cutting people. In New York State that is extremely rare.

Want a history lesson?

OK, 1930s. Yes. Thats what it could be like.

Only dont envision 1930s America under Roosevelt.

I am talking closer to 1930s and especially 20s Germany.

[bcklash]

Originally Posted by Christopherkeene9

That's a HUGE part of why we are in the situation now. And why I, my kids, and grandkids now own part of GM

Believe what you want to believe, but until you live in our shoes don't blame the union workers for the shape his country is in. You don't have a clue.

[Bender]

I mainly supply automotive companies and it is bad, very bad for me. I don't really know if I even have a job anymore, just getting by on side jobs. Some of my customers have gone bankrupt without paying me and with others I have invoices open from last year. It is really bad around Detroit for everybody. They even laid off a bunch from the local hospital last week.

[JB]

I'd put Ohio up there with hard hit, GM left the state, we have 7 GM plants in Dayton alone, they are all sitting empty now. It feels like things are getting a little better this summer tho, houses are selling again, but at about 18% less market value than the past, hope the housing auditor adjusts our property taxes some day, they sure like to increase them when houses are selling for crazy high amounts due to low interest rates. My company that I work for is doing OK, made cutbacks and no raise this year, but they havent laid anyone off and biz has picked up the last month or so.

[bonsaibp]

I think almost everyone to one extent or another has been effected. Even industries and businesses that aren't related to banks, cars or housing. My business has dropped 80%
from where it was this time 2 years ago.
Its getting a little scary but I do what I can and spend more time fishing on the local lakes.
I believe that things will get better but that there are going to be major changes in the way we live Maybe thats for the better only time will tell.

[Christopherkeene9]

Originally Posted by bcklash

Believe what you want to believe, but until you live in our shoes don't blame the union workers for the shape his country is in. You don't have a clue.

Then what caused the bankruptcy of GM. Would like to hear your idea.

For some reason I don't think so though.

$70 an hour, avg. pay. Nurses don't even make that much! Must be nice to put some hubcaps on for that kind of pay and full benefits.

[bcklash]

Originally Posted by Christopherkeene9

Then what caused the bankruptcy of GM. Would like to hear your idea.

For some reason I don't think so though.

$70 an hour, avg. pay. Nurses don't even make that much! Must be nice to put some hubcaps on for that kind of pay and full benefits.

Where did you get your info? $70 an hour? I don't even make a third of that, with benefits a little more than a third of that.
Mean while our American plant manager makes over $500.00 an hour plus benefits and perks. We also have a Swedish Plant manager and we are owned by the Swedes. We don't have a clue what he makes, but you can bet it's more than his American counterpart. Why do we even need 2 plant managers?
This is just 1 example, I could on hours but you still wouldn't have a clue.

And yes unions are a part of the problem, a very small part. Also I don't work for GM.

No more from me on this thread.

[Jim80]

we were doing good for a while and in the last month have been cut from a 60 hour week to a four day 40 hour week so I'm starting to feel the lack of money thing . I would love to get involved in the reasons the economy is shot argument but theres no point to it anymore it is what it is .


Jim

[Bubba_Bruiser]

A lot of little towns in south MS, LA, and TX are fueled by the oilfield. And when you see pictures like this:
"Stacked Rigs"


And this is just a handful. We recently moved the rig to a dry dock in Port Arthur, TX. I counted an excess of 40 stacked rigs on the way to the dock. And there is no telling how many more are in different blocks in the Gulf of Mexico.

It ain't good. My company alone laid off 305 employees intially and are recently laid off 40 more. We are all under a microscope right now, and being let go for any infractions. 1 guy had his house ripped off by a tornado and failed to report back after his 3 day leave and was laid off. Myself, I have suffered from a 45% pay cut. But I am just glad to still have a job and that I decided to get out of debt a few years ago. Especially with a baby on the way, I still have my insurance. I could go flip a booger and live off of all of y'all. Then I would be the talk of your supper time gripes, hahahaha.
The main thing I see around town are big 4 wheel drive trucks and just toys in general. A few small businesses have closed down, too. If you have the cash on hand though around here, you could probably find the boat and truck of your dreams anywhere between Mobile - Brownsville, TX.

I know oil and gas prices are going up, but I don't really see them drilling too much for the rest of the year. They will probably want to see where it will level it, before they start drilling again. Also the smaller companies don't want to drill out of there own pocket. They take out loans for the job and then pay it off if a well is made. But they make their adjustments through write offs and what nots if it is a dry hole and pay back through payments until a hole is made somewhere else. But the banks are not wanting to lend out 5-10million to drill a well when they are tapped out, too. Maybe I went on too much?

[MallenManson]

Sounds like a little bit of just about everyone here is feelin the crunch. Hard times for sure.
Being a roofer, I always thought my job was always safe. People can put off remodeling their kitchen, building a garage, installing new carpet and so on but roofs just end up costin more money the longer you wait. So when we're slow, we know everyone in construction is slow. Thankfully, we're a well established company and many businesses won't even call others for a bid, but even at that, it's pretty slow. Sooner or later though, everything is gonna bounce back with a vengeance and we'll be workin 6 days a week all year

[MallenManson]

Originally Posted by Bubba_Bruiser

A lot of little towns in south MS, LA, and TX are fueled by the oilfield. And when you see pictures like this:
"Stacked Rigs"


And this is just a handful. We recently moved the rig to a dry dock in Port Arthur, TX. I counted an excess of 40 stacked rigs on the way to the dock. And there is no telling how many more are in different blocks in the Gulf of Mexico.

It ain't good. My company alone laid off 305 employees intially and are recently laid off 40 more. We are all under a microscope right now, and being let go for any infractions. 1 guy had his house ripped off by a tornado and failed to report back after his 3 day leave and was laid off. Myself, I have suffered from a 45% pay cut. But I am just glad to still have a job and that I decided to get out of debt a few years ago. Especially with a baby on the way, I still have my insurance. I could go flip a booger and live off of all of y'all. Then I would be the talk of your supper time gripes, hahahaha.
The main thing I see around town are big 4 wheel drive trucks and just toys in general. A few small businesses have closed down, too. If you have the cash on hand though around here, you could probably find the boat and truck of your dreams anywhere between Mobile - Brownsville, TX.

I know oil and gas prices are going up, but I don't really see them drilling too much for the rest of the year. They will probably want to see where it will level it, before they start drilling again. Also the smaller companies don't want to drill out of there own pocket. They take out loans for the job and then pay it off if a well is made. But they make their adjustments through write offs and what nots if it is a dry hole and pay back through payments until a hole is made somewhere else. But the banks are not wanting to lend out 5-10million to drill a well when they are tapped out, too. Maybe I went on too much?

I stopped readin after "handful" just kidding. that's the beauty of the internet vs live conversations though. On here, we can always skip ahead. when live, you either have to suffer through it or tell someone to SHUT THE.........!!!!!!!!!

[Bubba_Bruiser]

Sorry about that dude.