Is the economy affecting your job's future?
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    Is the economy affecting your job's future?

    I work for a high end marble and granite fabrication and installation company, and we are tied at the hip with the construction industry. We are a small company and have recently lost several employees due to the lack of construction in the area. We have already lost 15% of our work force and everyone is quite concerned about the prospects for the new year.



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    Re: Is the economy affecting your job's future?

    I work for a construction related company as well (flooring). We are going through many of the same things. I am hopeful that we will see some improvement in 2009. We'll definitely be leaner and meaner when we come out the other side.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by Balrog View Post
    I work for a high end marble and granite fabrication and installation company, and we are tied at the hip with the construction industry. We are a small company and have recently lost several employees due to the lack of construction in the area. We have already lost 15% of our work force and everyone is quite concerned about the prospects for the new year.
    Have you guys tried alternative methods to selling your product? Lowered prices? I know if someone came to my door and was offering granite for 1/2 off they would probably have a new customer.



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    Re: Is the economy affecting your job's future?

    I work in the securities industry and it is tough when the market falls 40+%. I think we have hit the bottom, however I don't think we are going to get the rebound back that I thought we were going to get. Now with the hedge funds and sub prime **** blowing up, there will be more regulations out to hurt the little investor and their brokers.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by Balrog View Post
    I work for a high end marble and granite fabrication and installation company, and we are tied at the hip with the construction industry. We are a small company and have recently lost several employees due to the lack of construction in the area. We have already lost 15% of our work force and everyone is quite concerned about the prospects for the new year.
    The problem is the housing industry was in a bubble, everyone was moving and buying, and with any bubbles it is going to dry up sometime. I am in IT, and we saw the exact same thing in 2000.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by dmclone View Post
    Have you guys tried alternative methods to selling your product? Lowered prices? I know if someone came to my door and was offering granite for 1/2 off they would probably have a new customer.
    I would buy :)


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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by brianhos View Post
    I would buy :)
    me too



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    Re: Is the economy affecting your job's future?

    I work for the Department of the Army. The economic slowdown doesn't necessarily scare me - Obama's imminent gouging of the military, on the other hand, does...


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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by brianhos View Post
    The problem is the housing industry was in a bubble, everyone was moving and buying, and with any bubbles it is going to dry up sometime. I am in IT, and we saw the exact same thing in 2000.
    The next problem is that our government is not recognizing what a bubble is and is trying to do the same thing again. Lets lower rates to 4% for 30 years so people can buy houses again and get the economy rolling like it was the past few years. Well, people are going to say WOW i can get a $500K house when I make only $50K / year.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by erikbj View Post
    me too
    That is the thing about the housing market. Want to get it moving again? Lower prices. If I could move to a nicer house and it would not break the bank, I would do it, and thus spur on the economy. The problem is people are holding on to inflated values, and are not willing to budge, and until that happens, there will be no rebound.


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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by jdoggivjc View Post
    I work for the Department of the Army. The economic slowdown doesn't necessarily scare me - Obama's imminent gouging of the military, on the other hand, does...
    should scare you if you have any 401K or investments.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by dmclone View Post
    Have you guys tried alternative methods to selling your product? Lowered prices? I know if someone came to my door and was offering granite for 1/2 off they would probably have a new customer.
    You would probably find that at a going out of business sale, but not very many other places. I suppose if you are willing to roll the dice and hope that they don't go under mid-project, more power to you.

    Our suppliers have yet to cut prices as I think they are still working through their base materials which were bought when oil was at a high price. I expect them to be more flexible in the next couple of months.

    The positive thing in construction is that the fly by nighters are falling by the wayside.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by brianhos View Post
    That is the thing about the housing market. Want to get it moving again? Lower prices. If I could move to a nicer house and it would not break the bank, I would do it, and thus spur on the economy. The problem is people are holding on to inflated values, and are not willing to budge, and until that happens, there will be no rebound.
    agreed, but a better solution is to have everyone stay at the house they are in and refinance their mortgages to 4% or lower rates. Then every household has an extra $200 to $500 / month in disposable cash. That would spur the economy in minutes and would not cost the government Trillions in bail outs because the current interest rate markets are already there.



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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by erikbj View Post
    should scare you if you have any 401K or investments.
    Why? I don't plan on touching them anytime for the next 30 years, and if it tanks within the next 5, I've hardly put anything in.


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    Re: Is the economy affecting your job's future?

    Quote Originally Posted by erikbj View Post
    should scare you if you have any 401K or investments.
    Not really, I am 35, and I see this as a buying opportunity. We are now buying mutual fund shares at half the price they were just 6 months ago, and it can stay at this level for the next 10 years, all that means is when it does go up, I will make more $$.

    Now those that were close to retirement age, I hope you moved most of your $$ to bonds before this happened.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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