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Old 08-13-09, 08:50 AM   #1
DnvrFox
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The 50+ annual ride and the economy

The 50+ annual ride and the economy

I have had a number of folks who had planned to come on the 50+ ride who withdrew because they lost their job, they are searching for a job, they might lose their job, they took reductions in pay, etc.

Any thoughts?
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Old 08-13-09, 09:00 AM   #2
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Been there ... done that. I have had two brief teaching gigs and a part-time consulting contract, but my income flow is down about 75% from last year. I just had a very good interview yesterday for a 3-month contract position at a nice hourly rate, and I have a business meeting with a professor tomorrow, so I am hoping things are starting to look up a bit. I currently find myself minimizing all discretionary spending and making myself readily available on short notice for interviews or contract work, making it very difficult to commit to any length of time away from home.
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Old 08-13-09, 07:22 PM   #3
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I am not surprised.
I know folks who had to close their business after running that business over 25 years. Many work reduced hours. Restaurants and motels are suffering.
The latest is a sharp increase in cost of anything to do with government. Sales tax and property tax is going up significantly in Illinois and they are still broke.
Suppliers of machine tools to the American Automotive Companies are not having fun. Many go BK or at least reduce the work force.
There is no light at the end of that tunnel yet.
Housing is a catastrophe and looks it will remain so.
--------------------
A few individuals got out in time and intact. Very few.
The next shoe to drop is Inflation. High rate of inflation will make us all suffer.
There is a real danger of Stagflation.
Lets all go biking. It is cheap and gets our mind off this mess.
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Old 08-13-09, 08:33 PM   #4
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I'm one of Dfox's examples, unfortunately. I was an advanced product design engineer at a maor automotive supplier that is now in Chapter 11, and I was let go in March. Been trying to decide if I want to retire and be a bike bum, or go back to work. Work is the right answer, so I signed up with the outplacement service that is part of my severance package. That will be an intensive three months of work, so I can't spare the week in Colorado right now. I especially signed back up because there are some new efforts coming to my area, and I want to make sure to try for them. They dovetail nicely with my work experience.

I was looking forward to meeting all of you, and still do at some later get-together. Make this a good event, so Denver will be wiliing to help bring it about again!

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Old 08-14-09, 10:16 PM   #5
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This spring the plant I work in had a reduction and a couple of 2 week shutdowns and another for one week. I'm still feeling the effects and I'm just too leary right now to go even if I did have the cash! Though my plant is seeing some small increases in production, there's still a long way to go before we get close to the levels we were producing last year and I start to feel comfortable, especially since I was the last man standing in my unit at the end of the reduction.

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I was looking forward to meeting all of you, and still do at some later get-together. Make this a good event, so Denver will be wiliing to help bring it about again!

Road Fan
+1! Take good care of Denver folks, so maybe he'll wrangle another get-together later!
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Old 08-15-09, 12:36 AM   #6
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I am one of the victims and it is one of the things I am truly going to miss. The money I was going to use to go to Colorado has to be put aside for a while as things are going to get tougher for a few years. I will survive so hopefully I may be able to come on a future gathering.
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Old 08-15-09, 11:20 PM   #7
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Quote:
Originally Posted by will dehne View Post
I am not surprised.
I know folks who had to close their business after running that business over 25 years. Many work reduced hours. Restaurants and motels are suffering.
The latest is a sharp increase in cost of anything to do with government. Sales tax and property tax is going up significantly in Illinois and they are still broke.
Suppliers of machine tools to the American Automotive Companies are not having fun. Many go BK or at least reduce the work force.
There is no light at the end of that tunnel yet.
Housing is a catastrophe and looks it will remain so.
--------------------
A few individuals got out in time and intact. Very few.
The next shoe to drop is Inflation. High rate of inflation will make us all suffer.
There is a real danger of Stagflation.
Lets all go biking. It is cheap and gets our mind off this mess.
I won't even start about selling real estate. Suffice to be said that although I'm selling a lot of property, my commission rate is considrably less than that of a year ago. No matter how frugally we disigned the trip, we couldn't justify the expence.

Thus, we'll skip this ride and hoe to meet y'all at another time.
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Old 08-16-09, 12:25 AM   #8
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My business is down 75%. Only bright side is I don't have to take it personally -- everyone is suffering.
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Old 08-16-09, 03:51 AM   #9
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For me life in the saw dust factory is about the same. Since my work involved stuff nobody used or did anything with before they are perfectly willing to pay me to keep doing it, although they frooze all increases this year (except upper management - shush, that's supposed to be kept a secret ) But I am busier than ever writing proposals so I can join all the other pigs at the Obama pig trough waisting all of your money, correction - all your grandkids and thier grandkids money
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