8 months have past...How are you guys coping up??

[bodybump]

I was wondering 8 months have past..after the worst job loss in the US within months after months...I was looking at the stocks and seems pretty good and job loss are decreasing (well thats what they said)..How did you guys do after 8 months..Good or bad please share it with us...Is buying a new watch on your list this Christmas?? How did you guys manage...

[Idle Swede]

Struggling along.

[Art 1]

Going along just fine. My next Rolex will probably be for my daughter when she finishes high school this year.

[bodybump]

Originally Posted by Idle Swede

Struggling along.

i think florida will be the last one to recover leo...

[bodybump]

Originally Posted by Art 1

Going along just fine. My next Rolex will probably be for my daughter when she finishes high school this year.

Thats good to hear Art...some people i know did pretty well during the recession..

[bodybump]

I have spoke to a some of our TRF members right here and ask them why they havent log for awhile...almost everyone told me that they need to concentrate on their business because it was going down...

[ijen0311]

My work gets busier as people get poorer, so it's never a dull moment. Sigh...

[bodybump]

Originally Posted by ijen0311

My work gets busier as people get poorer, so it's never a dull moment. Sigh...

i hear you jen... i think we will be the last state to feel that recession is over after all the states gets better...

[vh_bu98]

No raise this year for myself or my wife, but we both still have our jobs and we still get bonuses. So we are doing better than the average especially since we don't have kids.

Even though I would love to get a new watch, the idea of spending $10,000 USD anytime soon doesn't make sense, since we never know what the future will be like.

And the fact that my sister-in-law is struggling to keep her house after her common-law husband pass away really makes us think how we spend our money. It's hard not to feel guilty for wearing a $9400 USD watch, when a family member isn't doing well financially.

[TheVTCGuy]

Gosh, I hate to say this but my Division in Japanese Mega Corporation Company is doing fantastic! Last year was phenominal and we are expanding like crazy right now. I work in the broadcast industry and it makes sense I guess, when the economy gets bad people stay home and watch a lot of television.

[ZakBlak]

Originally Posted by bodybump

I have spoke to a some of our TRF members right here and ask them why they havent log for awhile...almost everyone told me that they need to concentrate on their business because it was going down...

My friends in the construction industry are all hurting.
If you go to any Miami mall, you'd never think recession.
I think that Wall Street recovers first, and unemployment will recover last since jobs were the last to go.

[walds11]

Plugging along. I am in retail banking and business has picked up this year. Being in the business for 8 years has helped. I have a decent client base with a good amount of repeat and referral business. Without that, my business would stink! My wife is a school teacher with a great salary and benefits, so we never have to worry about her :)

[idk01]

It's been a slow 3 months for me, and its meant dipping into the savings here and there, money is not being spent here in AU the same as it was last year, I've noticed IT budgets have been shrunk directly affecting my income on many levels, but the biggest let down are some of my larger corporate clients have decided to shut up shop here in AU and move operations to China/India for the next 12 months, then its looking for other cheaper location to operate, I know Africa and places in the middle east have been mentioned where the labor costs are less.

I'm seeing now our Financial year has changed over here in AU as of 1st July, a few of the budgets are renewed and the spending is on the up, but that will only be short lived :-(

Playing this one by ear so far and attempting to generate more business, just be nice to see an improvement soon.

[drtooth73]

Originally Posted by bodybump

i think florida will be the last one to recover leo...

Florida?
Michigan is in bigger hole.
There are a 1000 people a day that move to Florida.
There are mostly from around here, after losing their jobs.
In my practice about 20-30% lost their insurance.

As far as getting Rolex for Christmas, no, maybe a Panerai.

[Lion]

This year and the last quarter of 2008 have not been very kind. My wife and I have lost assets in our mutual funds accounts but are fairing better than most. It will take time for the stock market to recover and so far this year has seen slow but steady growth. Also we are fortunate because my wife was able to keep her job as others around her were laid off. They restructured her department, dropped company contributions to her 401k and no yearly raise after her review. But all in all I feel grateful to be alive and for what we have and life is good!!!

[rajurama]

I asked an economist how long you think the recession would affect us... He said 12 months and I was really??? He said yes after 12 months you will get used to it!

[bodybump]

Originally Posted by vh_bu98

No raise this year for myself or my wife, but we both still have our jobs and we still get bonuses. So we are doing better than the average especially since we don't have kids.

Even though I would love to get a new watch, the idea of spending $10,000 USD anytime soon doesn't make sense, since we never know what the future will be like.

And the fact that my sister-in-law is struggling to keep her house after her common-law husband pass away really makes us think how we spend our money. It's hard not to feel guilty for wearing a $9400 USD watch, when a family member isn't doing well financially.

Oh thats tough VU....i know what you saying...its not easy not to feel guilty wearing an expensive watch then talking to a family member who needs help..

[bodybump]

Originally Posted by drtooth73

Florida?
Michigan is in bigger hole.
There are a 1000 people a day that move to Florida.
There are mostly from around here, after losing their jobs.
In my practice about 20-30% lost their insurance.

As far as getting Rolex for Christmas, no, maybe a Panerai.

Then there you go bill...a lot of people moving to florida when there is nothing to do here...More of a vacation type...Hospitality is down and thats the only thing that makes florida tick...

[bodybump]

Originally Posted by ZakBlak

My friends in the construction industry are all hurting.
If you go to any Miami mall, you'd never think recession.
I think that Wall Street recovers first, and unemployment will recover last since jobs were the last to go.

Actually your right...i think people go to malls and hit the fastfood court...and yet they dont go home with a lot of paper bags with them...

[bodybump]

Originally Posted by Lion

This year and the last quarter of 2008 have not been very kind. My wife and I have lost assets in our mutual funds accounts but are fairing better than most. It will take time for the stock market to recover and so far this year has seen slow but steady growth. Also we are fortunate because my wife was able to keep her job as others around her were laid off. They restructured her department, dropped company contributions to her 401k and no yearly raise after her review. But all in all I feel grateful to be alive and for what we have and life is good!!!

Thats all it matters leo...as long as we have a job to go to everyday we can manage a bit and survive...

[bodybump]

Originally Posted by idk01

It's been a slow 3 months for me, and its meant dipping into the savings here and there, money is not being spent here in AU the same as it was last year, I've noticed IT budgets have been shrunk directly affecting my income on many levels, but the biggest let down are some of my larger corporate clients have decided to shut up shop here in AU and move operations to China/India for the next 12 months, then its looking for other cheaper location to operate, I know Africa and places in the middle east have been mentioned where the labor costs are less.

I'm seeing now our Financial year has changed over here in AU as of 1st July, a few of the budgets are renewed and the spending is on the up, but that will only be short lived :-(

Playing this one by ear so far and attempting to generate more business, just be nice to see an improvement soon.

I know...back in my country they are moving big companies looking for cheaper labor....last couple of months fedex hub move to china because they can pay 3 people there to work for the same pay for 1 person to work back in our country..

[bodybump]

Originally Posted by rajurama

I asked an economist how long you think the recession would affect us... He said 12 months and I was really??? He said yes after 12 months you will get used to it!

Hey Rick i thought dubai was doing good??

[idk01]

Originally Posted by bodybump

I know...back in my country they are moving big companies looking for cheaper labor....last couple of months fedex hub move to china because they can pay 3 people there to work for the same pay for 1 person to work back in our country..

Exactly the situation here Oscar One company has already moved 60% of operations to China, have sacked the staff here and have managers driving fork lift trucks as part of a skeleton crew until migration is complete, some of these guys have been earning up to $200k AUD p/a for the last number of years and have been forced to take 65% pay cuts. finding a similar position and pay is going to be nearly impossible, give it another 3 months and there is going to be a buyers market on high end Mercedes, BMW, properties and high end watches

[ratae1950]

Things are real slow in the architecture business.

[allanofcalifornia]

California has been really suffering but we're surviving so far. Hopefully the economy will turn around this year, hoping that the huge government spending doesn't keep us from recovering. I am afraid that we might start seeing inflation in the near future.


Allan

[BigHat]

Investments have rebounded fairly well, but a good piece of it is added contributions. I think I'll keep my job too as they really can't cut deeper in my function without doing more harm than good. I guess I "dodged the bullet" and feel quite fortune there. Of course, when the company doesn't do as well, those compensated in part by the state of the bottom line get dinged and that wasn't been fun. Of course, in this environment staying employed is a worthy enough goal.

I think we're 25% across the bottom of a U-shaped recovery. Not too excited about some of the added taxation (Cap & Trade) and spending (health care reform). Coupled with all the "stimulus" debt and added money supply could mean more bad times though. Just don't see strong growth stemming from that scenario.

Have cut back on many things and had no intention of buying any watches this year, but I pulled the trigger last week (get it this week). No one is imperiled (including me) by the expenditure and I just felt like it. None of these watch purchases are "smart" in the eyes of most so I decided to get a bit "dumber."

[rsg]

We've faired better than most.

I live in California and do a little real estate investing. Just last week I was looking at a property that ended up with multiple offers over asking price. I've since learned that homes in the $300k-$500k range are really hot and there is a kind of buying frenzy right now. It seems investors are in competition with first time home buyers.

[rajurama]

Originally Posted by bodybump

Hey Rick i thought dubai was doing good??

Nope not at all... things are pretty dull here these days post the boom of 2007 - 08... The properties have crashed and also the tourism is low... So no new watches for me

[Starwalker]

Originally Posted by rajurama

I asked an economist how long you think the recession would affect us... He said 12 months and I was really??? He said yes after 12 months you will get used to it!

[TheVTCGuy]

Originally Posted by rajurama

Nope not at all... things are pretty dull here these days post the boom of 2007 - 08... The properties have crashed and also the tourism is low... So no new watches for me

Rick I haven't been to Dbuai in many years, but when I was there, I absolutely LOVED It! What an interesting part of the world! Bahrain, Abbu-Dabbi (SP?), I truly enjoyed being there. Maybe in a past life I'm Arabic instead of Greek or something...

One of these days I'm coming back to stay a while...