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Job Security (pg. 4)
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| jdat |
| quote: | Originally posted by AMMORA
its sad...i'm a retail manager for a shoe company and i make more money than friends of mine with masters degrees in really specific fields. people will always need shoes, so i'm pretty secure...except that the cleveland market SUCKS major hairy balls and the idiot people that live here with their small-minded views think that everything that comes from china is evil and walmart is the best place to buy everything...
hate to break it to ya, but this recession was caused by poor judgement by the american people, no one else...not iraq, not china, not joe-bob from mars. idiot americans that overspent their means and borrowed too much money--from the government itself all the way down to the family buying their first over-priced house with an adjustable mortgage they can't afford. borrowing too much always means you owe too much--if you can't pay, don't play.
the economy always goes up and down...this is just a momentary down. its just hitting the middle class hard...rich people are still rich, poor people are still poor.
if you wanna buy a house and have the cash, now is a great time. |
cool retail market in Cleveland is near non existent ... specialty shops are always hard to find and well yeah I know what you mean ...
Happy I don't have to shop at the Mall anymore where I live now :p |
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| lücid |
| quote: | Originally posted by jdat
there's a very thin line between there still be a need which will always exist and trying to minimize operating costs.
while the print industry tends to be less affected by economic downturns graphic design is another matter and it's staff being more expendable.
I'm amazed you would think that being in the graphic design industry equals stability. Many people in the industry believe there is a continuous ten year cycle that goes round and round and round which only becomes much more affected when there are global slow downs.
Not pointing fingers and being judgemental or telling you to be careful but you need to look at the last 20 years and how many cycles the industry has gone through. 92 dead, 98 was somewhat peaking then came the 2000 internet boom, progressively came back up then crashed after 9/11 ... it's progressively risen and today we are coming up what might very well be another crash.
I know plenty of designers who are starting to get laid off or having projects and hours cut.
Securing your job, progressively getting closer to that senior designer position is all fine and dandy but it's a long hard road full of bumps
:p |
easy solution to all of that - i can just Photoshop the economy! :gsmile: |
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| Theresa |
I work for the travel industry in Canada, and although Canada's economy usually mimics what the U.S. economy does, I haven't noticed much of an impact on our business. Maybe it will take some time to really effect the Canadian market, because I am sure if there is a recession, the travel industry will take a serious dip.
As for my job security... well, I think that we might downsize, but I am in management, so I doubt that I will lose my position. Not to mention that my boss loves me, so if people were getting laid off or fired, I would hopefully be last on the list to get rid of.
I suppose it really depends on how bad of a dip the industry takes... :nervous: |
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| gehzumteufel |
| quote: | Originally posted by AMMORA
its sad...i'm a retail manager for a shoe company and i make more money than friends of mine with masters degrees in really specific fields. people will always need shoes, so i'm pretty secure...except that the cleveland market SUCKS major hairy balls and the idiot people that live here with their small-minded views think that everything that comes from china is evil and walmart is the best place to buy everything...
hate to break it to ya, but this recession was caused by poor judgement by the american people, no one else...not iraq, not china, not joe-bob from mars. idiot americans that overspent their means and borrowed too much money--from the government itself all the way down to the family buying their first over-priced house with an adjustable mortgage they can't afford. borrowing too much always means you owe too much--if you can't pay, don't play.
the economy always goes up and down...this is just a momentary down. its just hitting the middle class hard...rich people are still rich, poor people are still poor.
if you wanna buy a house and have the cash, now is a great time. |
Most people don't have jobs in the field in which their degree is in.
The problem was NOT adjustable mortgages. The problem was the way in which mortgage companies relaxed their guidelines, LO's inflating incomes too much (this happens with EVERYONE to a certain extent), and people getting into a mortgage that they couldn't afford to start with, let alone when the fixed period ended. Also, there were a bunch of people that had a loan called an option arm, which is ok if you have proper income and didn't buy a house that was priced way more than its worth. The 4 ways are NegAM (Negative Amortization), interest only, i forget, and PI (Principal & Interest). A lot of people paid the first option, which is BELOW the minimum interest payment. This was all they could afford. Well the difference between the negam and the interest only payment gets tacked onto the end of the loan. At the end of the fixed period, the interest goes up, with some established max per month change at the worst and a max per year change at the best (wells fargo only does per year changes), and so does their payment. They are usually underwater by this time as the loan amount is now more than the original purchase price of the house.
If you are in the market for a house, wells fargo's foreclosures are all listed at www.pasreo.com and it is free to look through. |
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| AMMORA |
| quote: | Originally posted by gehzumteufel
Most people don't have jobs in the field in which their degree is in.
The problem was NOT adjustable mortgages. The problem was the way in which mortgage companies relaxed their guidelines, LO's inflating incomes too much (this happens with EVERYONE to a certain extent), and people getting into a mortgage that they couldn't afford to start with, let alone when the fixed period ended. Also, there were a bunch of people that had a loan called an option arm, which is ok if you have proper income and didn't buy a house that was priced way more than its worth. The 4 ways are NegAM (Negative Amortization), interest only, i forget, and PI (Principal & Interest). A lot of people paid the first option, which is BELOW the minimum interest payment. This was all they could afford. Well the difference between the negam and the interest only payment gets tacked onto the end of the loan. At the end of the fixed period, the interest goes up, with some established max per month change at the worst and a max per year change at the best (wells fargo only does per year changes), and so does their payment. They are usually underwater by this time as the loan amount is now more than the original purchase price of the house.
If you are in the market for a house, wells fargo's foreclosures are all listed at www.pasreo.com and it is free to look through. |
you know far more than i do about it...
bottom line, its not affecting EVERYONE horribly. just certain demographics. it will be interesting to see now how the renters market progresses...the prices of townhouses in my neighborhood have gone up already (monthly rentals) b/c so many of the foreclosure victims have to rent now. |
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| Arbiter |
| There's plenty of work in the defense industry, at least for now. |
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| gehzumteufel |
| quote: | Originally posted by AMMORA
you know far more than i do about it...
bottom line, its not affecting EVERYONE horribly. just certain demographics. it will be interesting to see now how the renters market progresses...the prices of townhouses in my neighborhood have gone up already (monthly rentals) b/c so many of the foreclosure victims have to rent now. |
Yeah. I worked at Wells Fargo Home Mortgage for 18 months. Had a good amount of experience with all this. :D
The thought that the rental market is going to get really bad, is a little short sighted. The foreclosures have an affect, but not as bad as everyone assumes. Why? Because due to all the foreclosures, the people that couldn't afford a house before because it was $800,000 (I'm giving a cali scenario since that is all I know), can now get that SAME house for $400,000 or so. This puts a LOT of people in the market that are currently renting. So the influx isn't as bad as thought. |
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| Nostalgic |
| AT&T as a whole is laying people off affecting all 300,000 employees. I find out if I'm gone by the end of the week. |
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| gehzumteufel |
| quote: | Originally posted by Nostalgic
AT&T as a whole is laying people off affecting all 300,000 employees. I find out if I'm gone by the end of the week. |
that blows. |
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| tubularbills |
| i have a job until 2010. then i can decide if i want to stay in or get out:) |
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| gehzumteufel |
| quote: | Originally posted by tubularbills
i have a job until 2010. then i can decide if i want to stay in or get out:) |
And what are your thoughts at this point? |
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| Zewad |
| quote: | Originally posted by tubularbills
i have a job until 2010. then i can decide if i want to stay in or get out:) |
;) been down that road before....
look where it got me... although i wouldnt change a thing in how my journey has brought me to where i am...
a year of clarity did wonders on my outlook on career aspariations and what i want to do...
(i'll return to TA next week for my weekly post) |
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