How's the Economy In Your Neck of the Woods

[Diggerdan11]

I was just wondering what was happening where everyone else lives throughout this country, and the world as far as economic recovery goes? Because I do not see things getting much better anytime soon. I don’t mean this thread to be political, I just wanted to see who else has been hit hard by these terrible economic times, and how the cities they live in are doing. Has anyone seen any real signs of recovery?

 

The reason Im asking is because im at work right now just thinking about how bad things are and how they just seem to be getting worse. I live in a town of around 50k people. I moved back in September after being gone for a little over 3 years. I was lucky to get a job at my current employer which is a large window and door manufacturer that is based here in my hometown. In 2007 the company was booming, expanding left and right. Now today we were just purchased by another equity investor and the family who owned my company for 50 years no longer has majority ownership. Now hopefully this acquisition is a good thing and will keep us from going bankrupt, and hopefully I will be able to keep my job. But you never know. If people don’t start building new homes, then we wont sell windows and doors.

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Before I left in 2007, my town had 4 car dealerships that sold 15 brands. #1 sold GMC, Cadillac, Buick, Pontiac, and Saturn. #2 Sold Chevrolet, Honda, and Subaru, #3 Sold Ford Lincoln, and Mercury. And #4 Sold <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comToyota</st1:City>, Chrysler, Jeep, and Dodge. #4 Bought the huge lot next the there lot, and was planning on brining in VW, Nissan, Hyundai, Kia, and BMW. Well #1 had to close its doors and of course Pontiac, and Saturn were shut down. #4 obviously scrapped there plans of bringing more brands in. #2 lost Chevrolet, but GM said they could start selling GM again but only if they invested 2.5million in another building and they would have to stop selling Honda or at least move it to another location, well they were not able to make that investment. #3 stopped selling <st1:place w:st="on"><st1:City w:st="on">Lincoln</st1:City></st1:place> and of course mercury was shut down, and a couple months ago they just up and closed. Luckily #4 was able to but Ford so we did not completely loos another brand. .

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In 2007 one of my cousins was the biggest real estate agent in the area, and she made over 250K that year selling homes. In 2008 she made less than 30k, 2009 less than 5k and she had to quit. Another one of my cousins who I use to work for owned 50 KFC restaurants. In the last couple months he has had to shut down 6 of them, and he is on the verge of filing chapter 11.

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Lowes, Costco, and Target have all scrapped or at least postponed indefinitely there plans to come to my town.

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Sorry for such a long post, I just thought I would share, and I was wondering if anyone else had any stories like this to share.

[txredgt]

Everything points towards the economy here in Texas and more specifically Austin where I am now is one of the best in the country but I still have yet to see it. I tried to find a decent job knowing I would have to work my way up but all I could find was part time. I now have a full time job with benefits with the same company which I am greatful for, but being that I have a degree and I am only making 28K a year its just enough to live on here. Seems like the few companies who are hiring can have their pick of who they want with many years of experience and also the people who would have retired now are putting that off for 3-5 more years to get them through these times. I can't tell you how many friends I have who can't find degree-worthy jobs.

[Captain Slow]

We haven't had any layoffs, but we've had a number of sent home early days for the hourly employees. It sucks for them and for me. They get reduced paychecks and I (Mr. Salaried employee) do their production work if we get a busy spot after their gone for the day. I don't know how much it sucks for them though because every time I ask for a couple volunteers to leave I get many more sets of hands raised than that. I ask for this: :hi: and I get this::hi::hi:. Me --->

Once summer is over I doubt I'll get any volunteers.

 

We also lost one of our biggest accounts to a Japanese owned competitor. They have billions and can afford the discount they gave to our former account. We can't match a discount that literally would have eaten up ALL profit and then some more. Our 3 giant competitors (billions in annual sales) are buying up market share and squeezing out the independents in our industry. So we do what Adam's does, we out service our competition.

 

We've added a number of new accounts this past month and we're looking forward to our busy season (November to April.)

[Golf for Life]

I have been retired since 2004 and glad that I had a wonderful career. But really feel bad for the working class in this country. Have no idea of what is to come, we need to get our manufacturing base back or we will loose everything, just my opinion.

[mikegeaney]

I work for a large financial services firm. 3 years ago they moved my office from Boston to Merrimack, New Hampshire. At the time we were going to sell our home, move up there, and call it a day. Right around the time we were going to sell the real estate market, as well as the rest of the economy, took a nose dive. The company I work for (privately held and making $ hand over fist) started laying people off. My family and I stayed put and as things seemed to be getting better we put an addition on our home. Not 6 weeks after finishing that addition I was informed that my job would be moving to Raleigh, NC at the end of 2013!

 

Based on prior experience I don't think the move will actually happen. People with earlier move dates are being impacted now...I think as they see the higher than expected attrition they will back off. If they don't I will not move, will take 34 weeks of severance pay, and will roll the dice. While there are still plenty of folks out of work there are still jobs to be had in this area. Times are changing and we all have to adjust to some new realities.

[Bill-V8V]

I work for a large financial services firm. 3 years ago they moved my office from Boston to Merrimack, New Hampshire.

 

They only moved mine up there last year. Do me a favor and sit in my cube next time you go up there. Just to give it that lived in look. From the pictures Ray sent me it looks like I have a nice view :lol:

[07RS4]

Last time I checked 5 of the top 10 worst spots (housing wise) in the US where from good ole California. I seem to recall the Stockton area being the worst, which is about 1 hour 30 minutes from here. The housing market is horrendes...myself, I'm easily $100K underwater. Do I feel sorry for myself..nope. People tend to think that buying house you are entitled to it gaining in value. It doesn't work that way. So do I feel sorry for the Millions of people that bought on ARM's and bought $500K houses on a $50K a year job...nope. Sorry...no offense...rant...uncalled for but that bothers me.

 

But yeah, to answer your question. It sucks here, but being in the military you are slightly sheltered from the economy...we don't make alot of money but never really have to worry about jobs unless your record is less than stellar. Then you are the first to go in reduction time.

 

The only reason me and my wife are able to have what we have is we are military to military so we get double the benefits (and also double the time we spend apart from each other, she just got back from 193 days in the desert) and we both learned when we where younger how to manage money from our parents. Props to pops, bwahahaha.

 

Another rant, this was my last 6 months....

 

- Wife deployed in the desert for 7 months

- Get up at 4....sleep at midnight

- I had a shop to run with 70 people to take care of (unlike civilian world, personal lives AND duty)(promoted, now I have 8, bwahahahaha)

- 3 full time college classes

- 7 year old boy who needs my time

- and all the other stuff that goes on with daily life

- my back went out

- all major holidays missed (Nov through May)

 

Sorry, I just heard a pole that 94% of stay at home mom's are stressed out. Don't know the details it was on the radio this morning. Really?!? I'll swap with you...

 

That's all....**** I feel better. Thanks

[fortplainman]

rochester ny at least for me has been pretty bad. got laid off after a month of my summer job and havent been able to get one since. not much out there for a kid trying to get his engineering degree.

[J Tegeler]

This part of Iowa is not the best, but housing is cheap ($350 a month for a 2 bedroom 800 square foot apartment with a 2 stall garage) and I make alright money, but finding a job is tough for a lot of people.

[Chewy]

I'm in IA too. We're pretty Ag reliant due to this area being the headquarters for John Deere. If their strong, the QC is usually strong. Anyway... We're basically flat to last year.

 

Chris

[musclejunkie]

Now that is a loaded question! Don't shoot me - I didn't start this thread.

 

I for one, do not believe ANY politician who says things will get better or change. I work for the State of Michigan and have so for 20 years. We recently voted in a new legislature and governor who have quickly decided that they will hammer in the last nail in the coffin of the middle class and they have started with state employees. They have already rewarded, by giving huge tax breaks, their rich CEO buddies, who sold out thousands of good middle class domestic car factory jobs to other countries, leaving Detroit and America for that matter, a wasteland, while expecting retirees and state workers, "me", to pay for their newly created tax defecit. They say it will create jobs. I haven't seen job one come out of it! In the mean time, the governor and legislature, along with the unions (don't even get me started with these communist organizations) are threatening mass layoffs if we do not make MORE (we have made concessions every contract for as long as I can remember) ridiculous concessions on our pittance pay, health care and retirement. The gov freely broadcasts lies and smear campaigns about state workers and their "golden employment package" throughout the media, rhiling up aingst in the public. The latest lie out of his office is that we have been given a whopping 38% raise in 10 years and that he intends to take it back. He claims we make twice that of the same job in the private sector, comparing our degreed professional jobs to a Walmart greeters pay and benefits. I'm not ungrateful for having a job but to lie and smear false truths about me makes me wanna kick someone's arse! I have not received even a measley 3% cost of living raise any of these past years let alone a 38% raise. It is a BOLD FACE LIE! He and his legislature, is free to sit down with me to examine my W2's for the last 10 years as proof! So the same story goes across America and noone says a peep. The common idea across the country is "Be Happy You Have A Job - Period". Or, so sad to hear about your job loss, but it will never happen to me. There are countless assistance programs for the poor, draining our taxes, while countless tax breaks are given to the wealthy. Noone from any political party gives a darn about the middle class other than to keep beating on them and squeezing every last drop of blood from them.

 

If you want to change the direction of your country, and desire good jobs be brought back, you must speak out! Corporations who decide to make more million dollar bonuses and bottom line profit at the hands of a non-regulated cheap labor force in third world countries, while shunning the American worker should be jailed at the very least. To me, this is akin to being a traitor. This is the truth behind why we are in such dire straights. We are quickly approaching a two class America. Rich and poor. Look at our cities. You can not even "see" the shoulders of the freeways that run through Detroit. They are strewn with re-treads, wheels, sofas and garbage. It is as if a bomb went off and noone is cleaning it up. The excuse is "no money". Who wants to live or start a business in that wasteland? How does the saying go? Believe half of what you see and none of what you hear? The stuff you see in the media or hear is nothing more than a smokescreen hiding the real truth.

 

But heh! At least I have a job! Hope and Change all the way baby! How's this all workin for ya's?

Now ya got me irish up! "Ya Say Ya Wanna Revolution" Beatles:burnout:

[Z71_Denali]

if you can't find a job where you live... be willing to relocate! i know for a fact there are plenty of job openings in West Texas and New Mexico for oil field workers, and plenty of job openings nationwide in the oil/gas industry. there isn't enough people in the region to fill every position. sure some of it is b!tch work for people with no experience and no education, but if you have a degree in anything, you will get hired by a service company and get paid well, even with no experience, but work lots of hours.

 

i work for an oil company and luck out of working long hours because i'm an engineer and don't have to work out in the field. my buddy however works for a service company on a frac crew and works anywhere from 80 to 120 hours per week making $18 an hour and gets time and a half for every hour over 40. he's making 6 figures this year but had to work his butt off to do so. if there were more people willing to do what he does, he wouldn't have to work as much, maybe 40-60 hours.

[DaveVY]

How is the economy in my neck of the woods?

 

At home, it is good. My wife and I both have good jobs with growing companies.

 

My metro area, Tampa, is not the best economy. Tough times, unemployment is still hovering around 10.5%. Housing values don't seem to be declining as fast as they were, hoping that we have hit bottom. Jobs can be found but for many it requires a big cut in compensation/benefit expectations.

 

Overall things seem to have flattened out, not on the crazy nose dive anymore but not on a big up-tick either. Instead I am just putting behind me what I used to have and just looking to the future and making plans based on what I can control.

 

The cool part is to find the industries, businesses and opportunities where growth is occurring and try to align ourselves with those openings. I never surfed but the mental image in my mind is that of surfing. The waves are changing and moving and I need to find and follow the waves in order to stay on that leading edge.

[coolth]

The Company I work for is in very bad shape, if the new investor don't signed by end of this week. They will have to file BK and lock up doors, that would leave over 100 people with out a job. I'm looking now and found several jobs are hiring so things are looking up for me with 18 years as a HVAC.

[the1inblue]

Well Im not the most political person but I can say the city I currently work for probable has the worse unemployment rate in the country at around 12.5% to 13%. There hardly are any jobs there and none seem to developing in the near future. Most of the jobs are retail where a career or future is highly unlikely. The industrial side of the city is falling apart and the people there know it. The sad part to all this is that about 90% of the people who dont have a job dont care to try and get a job. They rather live on the government and collect a check while the ones that do have job are paying for them to sit at home. I see this day in and day out as police officer. I can go to a call or make a report and ask for a employment status and about 1 out of 5 people state they are unemployed. I must say I do work in a lower income area of the city however that should be no excuse not to be employed. I would drive out of my way to seek a job if I didnt have a job to provide for my daughter. By no means am I saying I work for a horrible city but I can say that things could be better. As I watch in the news I see all this happening all over the world whether it be in a small town or a big city. I think its time our government (national, state and local) to step up and work together to bring this nation a better economy. I hope with whatever this debt solution they passed helps because if it doesnt then we as America are going to be the same boat as Greece was a few months back. It said when a nation like China is surpassing us in business sales and economic growth. Its time for a change and Im for one ready to see it happen. I didn't spend two tours in Iraq and nine years of being in the NC Army National Guard to serve a country that can't help there own out when times are tough. Lets all pray we get a solution and fast!