| Author | Message | ||
     Wolfridgerider |
I was just told that all salaries are going to be cut 10% No more 401k match...AND my portion of my Medical Insurance is going up... HAPPY DAYS!!! I think my racing career just ended | ||
| New12r |
Sorry man, that is never good to hear. I have lost 30% in income over the last two years so I feel your pain. | ||
| Hootowl |
I'm hoping my bonus this year consists of a letter that says, "Congratulations, you still have a job". Things are getting tight all over. | ||
| Jimduncan69 |
I know what you are going thru. right at this moment i have $0 coming in. until the sales people sell something for me to install. no body is buying anything right now. it sucks big time. hang in there it will get better sometime.......... hopefully. | ||
| Wolfridgerider |
The real bitch about this deal is I have already lost 50% of my commissions because sales are in the toilet.... This is just insult to injury... and what make me laugh is I still do over 50% of the company sales.... The fix would be to let one person go. Now I know you think I'm being a prick, but lets just say we have people that should have been let go years ago.... but a friend in deed... gets to keep his job | ||
| Buellinachinashop |
We got the news of no raises, no christmas party, no 401k matching and an insurance hike. Tough times. If the economy gets better, how long will it take to get these things back? I gotta feeling it'll be like oil and gas.....oil goes up, the price of gas sky-rockets. The price of oil drops and gas barely eeeks back. | ||
| Swordsman |
Yeah, somebody needs to rub Obama's belly and make a wish. ~SM | ||
| Nukeblue |
sorry to hear that wolf. seems like droppin 401k contributions is the next round of cuts | ||
| Preybird1 |
Man that sucks im just about to let some guys go to. And on top of it we need to come up with $175,000.00 to pay off the shop because the other owner is going under at his shop and we need him off our store loan before he goes under and the f'in banks wont lend it and we only have 100k equity left. To make it worse we are a franchise shop and corporate wont finance us either which is BS. Payroll yesterday 14k and the lease is 6k so thats 34k a month in just operation cost's not mention heat and power and other bills. were sucking wind here in this our slow season, And a recession on top of it. Man i was hoping to hit 2 million this year and get a new shop that we dont have to lease, Fat chance now. I hope were still in business in a couple of months | ||
| Damnut |
I hear ya. No raise this year or last, 401K match has been suspended, no bonus, we are on a skeleton crew as everyone has been laid off. We have had a bunch of mandatory shutdowns lately. the week of Thanksgiving, from Christmas Eve till Jan 5th. Also we are having a mandatory shutdown the week of Feb 16 and the week of May 25. they just announced to us that on top of those 2 weeks of mandatory shutdown that we HAVE to take an additional 5 days off in each of the first 2 quarters this year. So basically I have to take 144 hours of vacation in the first 6 months of this year with more mandatory shutdowns to come. At this point I'm just glad to be collecting a paycheck. My best friend, a licensed plumber, just got laid off last Friday. He had been with his company for ~7 years. Times are indeed tough. | ||
| Buellinachinashop |
At what point does this become a Depression? or don't they use that term any longer? | ||
| Gowindward |
They hit us with no more 401K matching in Nov. They also erased any vacation time in our accounts that was in excess of 200 hours. Insurance goes up every year, shop floor wages have been frozen, and bonus plans suspended. Plus a 20% reduction in staff. Cut, cut cut...! Not fun, but they haven't asked me to go home yet. It's about survival!! "If the economy gets better, how long will it take to get these things back?" Those things will not come back until the market demands employers offer it to be able to hire people. It's going to take AWHILE!!!! (Message edited by gowindward on January 21, 2009) | ||
| B00stzx3 |
I lost my weekend/night job and was forced to move back in with my parents. Bad? Yes. I'm 22, had a house ina yuppie (read: hot, educated chicks everywhere) neighborhood, with a big screen and a rooftop deck, 2 blocks from the main bar area. Now I'm in a small room, with my parents, in my hillbilly small town in rural Maryland. Don't feel so bad, I lost the best situation I might ever have! | ||
| Oldog |
I may be on un employment by Feb, My employer has done right by me, in our case a prospective client BSing us about the deal, and their finnancing LIARS SUCK I am fortunate I am out of debit, rent groceries, gas, utilities are all of my out of pocket expenses.  not counting up keep of the sled. I may have to move to florida, if no jobs turn up. ( at least I have a place to go if it totaly goes south ) (Message edited by oldog on January 21, 2009) | ||
| Hammer71 |
Not to rub it in but I'm making more. Once all of the firings and layoffs began crime went through the roof. We had at one time the highest per capita rating in New York State. It seems at though we are heading in that direction again. Our protections under NY civil service are great so no layoffs or firings on our side. | ||
| Court |
>>>>At what point does this become a Depression? We are not even in the same solar system as a depression. Maybe we should start a pool . . . I'm saying late 1st quarter 2010 with lots of lumps twinxt now and then. There, while this is going on, will be great opportunity. Just a hunch . . . . from a construction worker. | ||
| Ducxl |
Yeah,too bad Wolf  I have just gotten a ray of hope.I had quit a crappy job just last September. I got into a company through a "temp" agency just as the massive layoff.First 30 ppl let go,then third shift.the people asked me how i liked it coming in during this period. Last week all of the "temps" got let go except for one,ME. Today they told me i cannot keep working through the temp agency.They told me they intend to buy out my temp contract and hire me either this,or next week. We ARE on a 32 hour schedule tho | ||
| Eboos |
From August to the end of the year, my projected income went down about $9,000 per year. That's a lot of money when we are talking about the amount that I do make. Also, while we don't have to contribute to our medical, we do have to pay a deductible which is high enough to make you want to stay in a padded room for your whole life. With all of this, I am wondering how I am going to be able to swing racing this year, but I'm still going to do it. | ||
| Wolfridgerider |
I am wondering how I am going to be able to swing racing this year, but I'm still going to do it. WELL DA.... I've got my priorities.... LOL All joking aside... I have it better than most and I'm thankful for that. | ||
| Just_ziptab |
Our company management staff just went thru a "Webinar" on how to deal with employee reviews during difficult times. Our review sessions are due any day now. Could be interesting on what happens. So far, the company is doing great, so I doubt it will be bad........probably just "no raises at this time"...which is fine by me as long as I still have a place in the company. What worries me is that the condition of the rest of the country may take us down or cripple us.......... | ||
| Ferris_von_bueller |
Court, 2010, is a long way off for those already laid-off. Figure adding another year to that before things really start to roll and some are looking at two years out. Tough times !! I really don't know how people survive out in rural areas away from the big cities. | ||
| Paw |
This is why we need unions...Non union companies can take what they want when they want it and you can't do a damn thing about it...You could go to work tomorrow and be fired for no good reason. I bet the big boys on the top floor are still taking raises though!!! I blame it mostly on all the import products Americans buy. It has screwed up our lively hood...When ever possible i do my best to buy a product made in the USA if i can't then i try my hardest to at least buy a American companies product. | ||
| Guell |
Im doin pretty well without a union, thanks though. I just got a raise last year, along with more benifits etc. Even when the economy was crap. And my boss pretty much stated that im next in line for the construction company if i decided to stick it out. Cant exactly complain. Times arnt that bad. | ||
| Moxnix |
The bent financial news hacks use the "depression" scare tactic to keep the heat off the Fed & Congress while they meddle us into inflation. Inflation for them means it's easier to pay off federal debt with devalued dollars. If we've just Welcome Back Carter"-ed ourselves, then I'll bet on inflation. Most Buell owners weren't even poopin' yellow in their dydies for that episode. 18% interest, or higher, if the bank would speak to you. I don't know how "some" big city people will survive. Maybe B.O. does. | ||
| Teddagreek |
My wife worked for Baxter Health Care Plant in Tampa bay... They are shutting down and outsourcing the work to one of their Asian Plants.. She Volunteered herself during the Second Layoff.. Things are going to change like court said.. +1000 for buying American... | ||
| Alchemy |
Recession depression deflation yada yada. If the second mortgage collapse does hit as a result of the option ARM loans defaulting (separate from sub-prime loans) starting in 2009 then it will not be nice. This will drag the housing default situation out longer. Nothing much good is going to happen until the housing situation stabilizes. Same for unemployment. If prices start to fall in conjunction with the rise in unemployment then you get the start of deflation and people put off buying because things will be even cheaper next month. This further kills sales and prices do fall and then the consensus of belief becomes the problem as falling prices are confirmed. Prices are hard to raise because people don't believe it will work. Wages can't go up easily and who would loan money or buy stock in a company that continues to drop prices and lose money. Nasty stuff. If we can just get the housing market stabilized and the option ARM default rate is low then things could look up in 2010 if unemployment is not too bad. If you see deflation expanding then that is not a good sign. It is really helpful if prices stay stable. Buell raising prices could be a helpful thing when viewed in this context. | ||
| Pkforbes87 |
My retirement plan is a mutual-fund based investment and earns positive or negative interest based on how the stock market is doing in certain areas. Over the past three months the total balance has dropped over 25% despite my monthly deposits.  On the bright side, I have about 43 years to recover the funds before retirement age, and the shares are really piling up lately. Even if they are nearly worthless at the moment.. | ||
| Indybuell |
It'll recover. Court, your right. During the depression we had 20%+ unemployment. We are not even to 10% right now. | ||
| Bcool83 |
This is why we need unions...Non union companies can take what they want when they want it and you can't do a damn thing about it...You could go to work tomorrow and be fired for no good reason. I bet the big boys on the top floor are still taking raises though!!! Too bad you've never worked in a unionized company I guess. Unionized companies can do the same thing; my company (probably the largest employer in the state of CT) just pushed off raises for at least six months; that will likely translate into "none in 09." Granted it's not as bad as some have it right now, but it's still ••••••. Many layoffs throughout the company as well. And, regardless of what company you're at, the boys at the top will always be getting bonuses. Again, my company just posted over $1B profit for Q4, yet our raises are frozen? | ||
| Dynasport |
I am very sorry to hear about all of your troubles. I am doing OK for now, but my son just graduated from college and things are not very pretty for college graduates right now. He does have hope, however. He starts an internship at Disney in Orlando Monday. It is only a four month internship, but he is hoping he can parlay it into something permanent. My wife is in management in education. She worked all weekend on trying to figure out how not to lay anyone off. |
