Jump to content
REGISTERING FOR MEMBERSHIP ON UPLAND JOURNAL Read more... ×
Sign in to follow this  
NW-Gsp

how has the economy affected you?

how has the economy affected you?  

  1. 1. how has the economy affected you?

    • working overtime
      working overtime
    • working full time
      working overtime
    • working part time
      working overtime
    • laid off
      working overtime
    • retired
      working overtime


Recommended Posts

Steve Hunts

Laid off Feb 24.  I was working 24 hours a week and they said I could stay on at 8 hours a week.  I told them thanks but no thanks.

Filled for unemployment, registered with job service and went into the lay off pool.  Right now I'm taking online classes through LSU/Baton Rouge.  In the fall if I am still unemployed I will stay in school and keep working on another degree(this time in primary ed./special ed.)

My wife is still working so we are above water for now.  Let's hope things don't get much worse or stay like this for too long!!

My best wishes to everyone here at UJ!  Spend that extra time with the family(what I'm doing).  That's what life is really about anyhow.

Share this post


Link to post
Share on other sites
northern_hunting_mom
Thankfully, the county we live in has little to do with the oil and gas industry so Loren's job is not dependent on revenue from that to keep the county coffers full. We feel very fortunate that he has the job he does as a road construction and maintenance equipment operator.

Share this post


Link to post
Share on other sites
NW-Gsp
Laid off Feb 24.  I was working 24 hours a week and they said I could stay on at 8 hours a week.  I told them thanks but no thanks.

Filled for unemployment, registered with job service and went into the lay off pool.  Right now I'm taking online classes through LSU/Baton Rouge.  In the fall if I am still unemployed I will stay in school and keep working on another degree(this time in primary ed./special ed.)

My wife is still working so we are above water for now.  Let's hope things don't get much worse or stay like this for too long!!

My best wishes to everyone here at UJ!  Spend that extra time with the family(what I'm doing).  That's what life is really about anyhow.

good for you, I think you are taking the right route cause education can never be replaced. If I loose my job and all else fails Im prob going to join the Air Force

Share this post


Link to post
Share on other sites
Mike Christensen

Running a 501©3 non-profit, I can tell you that the downturn has had a very negative effect on our prospects for the year.

As some of you may have seen, the Pass It On - Outdoor Mentors program was endorsed by the National Forum on Children and Nature last November.  Part of the original plan for the Forum was to endorse a number of projects and help them to the next level by providing funding and marketing.

With the current economic situation, none of their funders are looking at new projects...they're hoping to be able to continue with their current ones.

With our program, we are hoping that we can continue on our growth path, but we definitely won't be able to accomplish what we had on the drawing boards 6 months ago.

Mike Christensen

Pass It On - Outdoor Mentors, Inc.

http://www.outdoormentors.org

Share this post


Link to post
Share on other sites
B du B

Been laid off twice in the last 3 years, but my current job is hanging in there, although they announced across-the-board salary cuts last week.

Dinged me for 5% of my salary; not great, but obviously could have been worse.

Share this post


Link to post
Share on other sites
Greg Hartman

I’m a deal lawyer.  Normally, 80% of my personal practice is mergers and acquisitions – doing the legal work and negotiations for folks who are buying or selling substantial privately-held companies.  The other 20% of my personal practice has been complex tax work, complex estate and succession planning for the owners of large closely-held companies and just general corporate work.

Well, deal work disappeared overnight last September.  No one is buying companies, so no one is selling either.  Last year at this time, I had 15 active deals going.  This year, I have one.  In the world of transactional lawyers, this isn’t a recession - it’s a total collapse.  I’m doing more tax, estate and succession planning and general corporate work than I would normally do to try to fill the hole, but it does not fill the hole entirely.  

That’s not all bad.  My wife and I are in good shape financially - partly due to years of saving and investing and debt-free, financially conservative living - due also to the fact that my wife (who is handicapped and watches lots of satellite TV – she’s a total political and economic news junkie) saw this train wreck coming and got us out of the stock market last June, so we lost very little of our savings.  I’ve been wanting to reduce my working hours anyway and this enforced slowness makes it easier for a lifelong type A like me to do that.  As you may have seen from my pics, I’ve been doing more hunting this year than ever before – partly by choice, partly not.

My firm is doing OK so far.  It gradually grew up around my practice because when you do deal work, you need someone to handle the real estate aspects, someone to work the financing, someone to deal with the labor issues, someone to handle the intellectual property, someone to litigate when things go sour, etc.  Over the years, I had to hire lawyers to help me with all of those things, because  I couldn’t do them all myself.  Each of those practice areas gradually grew into its own self-sustaining practice area, each eventually run by the original lawyer who eventually became a partner with younger lawyers, paralegals and staff under each partner.  Each of those partners has grown his/her practice over time.  We’ve gradually become a large firm for around here (but miniscule by big city standards).  Certain practice areas are booming – for example, we have the largest and best creditor’s rights practice in the area – representing banks and other institutional lenders in large commercial loans that have gone bad for the lender.  We represent management in labor (union) and employment matters, which have become very active as employers lay off people and try to reduce their labor forces.  Other practice areas (real estate, for example) are very slow.

It is my hope that my firm will be able to get through this without laying people off who rely on us for their family livelihood and who have been loyal, productive employees for us.  Unlike Wall Street (where management got paid billions while they were running their companies into the ground and screwing all of their workers GGGRRR!), I have made it clear to my partners that should we run into problems, the very first people who will go unpaid around here will be the partners (including me), NOT the associates and staff.  Since the partners ride the upside, they must ride the downside, too.  Suffice to say that “edict” has focused everyone’s attention on business.

Bottom line – even though this economy has hit me hard, unless social unrest (where the cities seethe out into the country) or inflation (effectively wiping out the buying power of our life savings, now all being held in cash and T-Bills) happens, my wife and I should be OK.  If things really go south, we live in the middle of our own land way out in the sticks and are set up to be about as self-sufficient as anyone could be here in the over-crowded east.  We didn’t do any of this for survivalist reasons or in response to the current economy – it’s just how we’ve lived for many years.  We can produce our own power for months; we have at least three months of food and other supplies (including gasoline, propane and diesel fuel) on hand at any given moment; we have our own well and even a potable little mountain brook right behind the house; we heat with wood I cut on our land; we have plenty of game on our land and the means and ability to harvest it; and, if push really came to shove, we have the big motorhome (also fully stocked with diesel fuel, etc) that could be lived in quite comfortably for an indefinite period.

I’ve always worked for myself in one way or another.  That has many downsides, but one of the upsides is that only you can lay yourself off.  You are at the mercy of your own abilities and energy, not someone else’s whim.

Share this post


Link to post
Share on other sites
JonR
Semi-retired, the small business where I worked part-time went under last year. Coupled with over 50% loss on investment, somewhat nervous times here. At least the house is paid for, no car notes to worry about. Not much extra $$$ for fishing/hunting excursions, much less new toy acquisitions.

Share this post


Link to post
Share on other sites
Guest

I'm not planning on any big purchases and I have cut back some.  I'm not taking the kids to Maui this spring break.  I am having to pay a lot closer attention to my trades and investments, things change fast.

Over all I feel very lucky and in good shape considering what is going on out there.  We have a house guest right now who is talking about BK due to some bad moves her exhusband made with credit she is linked to.  Another example of someone who doesn't deserve what is happening right now.

Dave

Share this post


Link to post
Share on other sites
drummer's stump
I have been laid off since before thanksgiving too. the company I work for had a big remodel job on some greenhouse's for washington state university. but they scrubbed it at the last minute. so things don't look good for a while.lucky for me I worked a ton of over time this summer. I had a far amount in savings to build a house. not anymore, It was a good thing I saved all my overtime because  Idaho's unemployment sucks bad. It has to be the worst of any state. damn right to work state's

Share this post


Link to post
Share on other sites
Brad Eden
Day by day. I live quite simply as some may attest despite Tims fantasies about a castle with a moat. Been freelancing most of my adult working life and have learned to be tight as bark on a tree. I never know what each month will bring in and if I stressed about it I'd be in a mental hospital. I am also fortunate to have a wife that has always worked full time in the medical field and her job appears secure. But the small New Media firm I associate at just layed off a programmer and cut a production designers hours in half. Down to a skeleton crew. What is scary is that the money put away in retirement funds for us and many others-that was some insurance for bad times has been compromised. The trickle down is affecting everyone.

Share this post


Link to post
Share on other sites
L. Gallagher

It hit us last November, too, when my husband was laid off, we thoguht pernanently, and because I had to go on my boss's medical insurance, I decided not to ask for a raise, which would hopefully have been a bit more than the less than 1% raise I saw the year before.

It's been a very long winter...pressure at work for me has been horrendous, especially with all of the other newspaper people out of work out there now that every once in a while my publisher subtly threatens me with...on days like today, I think I'd be better off on unemployment...but then, maybe not.

But yesterday we did get some good news-my husband was called back to work. Seems that they needed the person who was expected to fill his shoes to go on nights. That person refused-not a smart move in this day and age.

He goes back to work Monday-we don't know for how long, or how much of a pay cut he'll have to take in light of the fact that everyone over there had to take TWO 2% pay cuts in the last month...if it will even be more than the unemployment...but he goes back to work.

And I will continue to allow my publisher to browbeat me. Just about everyone I know is either laid off or suffering for lack of work...and when you speak of out of work engineers, I know of a lot of them.

Share this post


Link to post
Share on other sites
bobman

But yesterday we did get some good news-my husband was called back to work.

thats good news, glad to see things looking up, think positively

Share this post


Link to post
Share on other sites
Guest
Well a lot has happened since my last post.  Nothing about employment yet.  But Samantha Rose was welcomed in to the world this afternoon at 1 pm.  Everyone is doing great and Elizabeth (big sister) and Maggie (black lab) can not wait to meet the newest addition to the family.

Share this post


Link to post
Share on other sites
Brad Eden
Well a lot has happened since my last post.  Nothing about employment yet.  But Samantha Rose was welcomed in to the world this afternoon at 1 pm....

Congratulations!

Share this post


Link to post
Share on other sites
stephen brown

Who said we'd never see gasoline below 2 dollars a gallon.

Investments , read retirements funds, have taken a hit. Mattress investments have remained stable.

Current job may be on shakey grounds as BO wants to originating all new Federal Student Loans (PLUS, Stafford) in the direct lending program. The credit crunch is putting considerable pressure on the private-sector student loan industry.

WASHINGTON (Reuters) - The private-sector student loan industry would be dealt a major blow under the federal 2010 budget proposed by President Barack Obama on Thursday.

Shares in Sallie Mae, the nation's largest student loan group, fell sharply on Obama's proposal to shift all federal student loans into the so-called direct-loan program administered by the U.S. Department of Education.

The budget for fiscal 2010, which begins on October 1, said it would save more than $4 billion annually by ending "entitlements" for financial institutions that lend to students.

"Right now, the subsidies in the government-guaranteed student loan program are set by the Congress through the political process. That program has not only needlessly cost taxpayers billions of dollars, but has also subjected students to uncertainty because of turmoil in the financial markets," the budget document said.

The change, subject to review by Congress, could spell the end of the Federal Family Education Loan Program, a source of revenues for years for many student loan groups.

"President Obama proposes that, beginning in 2010-2011, all new student loans would be originated through the direct student loan program," said California Democratic Rep. George Miller, chairman of the House education committee, in a statement praising the president's proposal.

Shares in Sallie Mae, known formally as SLM Corp, were down $3.29 or 39 percent at $5.10 each in midday New York Stock Exchange trading after dipping as low as $4.72 earlier.

(Reporting by Kevin Drawbaugh, editing by Gerald E. McCormick)

Obama budget calls for major U.S. student loan shift

We are the federal goverment and we are here to help you...

Share this post


Link to post
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
Sign in to follow this  

×