Bloody Monday: 50k laid off today

[Flipx99 5,000+ posts]

If anyone does take any loans, make sure you pay them off in the next year or so, or alternatively make sure you get a fixed interest rate. Otherwise, any debt you have is going to hurt when the fed rate sky rockets once the economy begins to recover!

This I know. However, I cannot convert to fixed. I'll remain in floating until 2011...then it adjusts. Fortunately, it's capped at 1% annual adjustments, so I won't be paying obscene interest until 2012...but then I doubt I will be able to get out of the floating. I gambled and lost. I don't have the necessary equity to convert out of floating for a while.

I have the cash for a decent used car which I need but have been contemplating not making the move thinking I need to keep some liquidity, also why buy a used car that may only sell for half of what I spend if I got in a bind and had to sell it fast.
I think even those with cash and not having to use credit are holding tight //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Indeed. I will get a more than expected tax return. I was considering investing...now I think I will just sit on it.

 

[sexiewasd 10+ year member]

I'm glad that I only have to support myself, I am also glad that my car is sealed, has three layers of Dynamat Extreme a layer of vb-2 and two layers of carpet padding, If times get tight enough I at least won't freeze to death //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

Honestly in a pinch I could survive working under minimum wage. On the other side of things I actually got a $1.00/h raise this year and I believe that I would be the last to go at my job, and even before that I would take a pay cut, or clock out when their isn't work.

 

[bigbangtheory 5,000+ posts]

So far this hasn't hit me or the wife, but if it keeps getting much worse, then I imagine my wife will see it being in the beauty industry. Least she would be one of the last ones to go being a district manager and she would have a better chance at finding something else around what she makes than me due to her experience.

Sucks for all them people to have to go through this, which if it did I at least have some money in savings. In a way I am kinda glad I didn't dump most of it on a house yet. I mean god knows I through that down and still pay a good amount per month and then one of us lost our jobs, we would be up shit creek with no paddle. //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif Will wait it out and hopefully in at least 2010 things start to look up.

Only bad situation in my case is looking for a bigger ride. Wife is due around August and not sure if I should get something bigger now due to the low cost of SUV's are wait and see how much gas goes back up and then wonder if the price of the SUV's will go up. Not to mention I will be paying on whatever we get for at least 3 years.

 

[Beerdrnkr 5,000+ posts]

I just got laid off today...lol...**** the world!...

 

[duece212 5,000+ posts]

I just got laid off today...lol...**** the world!...

fuk that sucks man. What industry?

 

[MmatsDude 10+ year member]

//content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[canemaster 10+ year member]

This is complete bullshi.... The average CEO of a Fortune 500 company makes 45 million a year.. That's just the paycheck, not investments and shares and stuff.. Big fortune 500 companies have seen their CEO make 435 million!! WTF... Fvcking rich get richer and the poor get poorer... And the middle class bears the fvcking burden of everyone

 

[fatboyracing 10+ year member]

I cant say the name of the company that I work for but we have 150000 people and 1500 locations and we are going to lay off 10000 to 15000 feb 1st on top of the 4000 allready layed off

 

[duece212 5,000+ posts]

I cant say the name of the company that I work for but we have 150000 people and 1500 locations and we are going to lay off 10000 to 15000 feb 1st on top of the 4000 allready layed off

Can you say the industry...10% is a pretty drastic reduction

 

[fatboyracing 10+ year member]

Can you say the industry...10% is a pretty drastic reduction

we are very diversified

for batterys to auto parts to heating and air

 

[Beerdrnkr 5,000+ posts]

fuk that sucks man. What industry?

Audio/Visual....Corporate meetings and so on. They gave me enough to survive off of for the next month and a half or so and hopefully I can get my taxes done in a hurry. Luckily, about 3 months ago I started the application process for a federal job and they sent me a letter a couple days ago telling me to start excercising properly and whatnot and get prepared for training (I can't say what it is on a message board) but it'll be federal, I'll start at $70,000 a year, and won't ever have to worry about getting laid off unless I **** up. They've processed my paperwork a lot faster than they did my dad and my brothers, so that's a good sign.

This is complete bullshi.... The average CEO of a Fortune 500 company makes 45 million a year.. That's just the paycheck, not investments and shares and stuff.. Big fortune 500 companies have seen their CEO make 435 million!! WTF... Fvcking rich get richer and the poor get poorer... And the middle class bears the fvcking burden of everyone

I like how when we gave the bailout money, the CEO's of a few companies had a meeting at a 5 star hotel and spent over $200,000.00

 

[duece212 5,000+ posts]

we are very diversified
for batterys to auto parts to heating and air

well hopefully that helps keep things afloat for your company

 

[Beerdrnkr 5,000+ posts]

I just talked to my friend from Colorado who works on oil rigs and he said that all my other friends that have been on rigs for a while now in Colorado just got fired and he's on a rig in North Dakota right now and they just lost the contract as well. He might be unemployed unless they send him to Arkansas or they get a contract in Texas next month.

 

[duece212 5,000+ posts]

I just talked to my friend from Colorado who works on oil rigs and he said that all my other friends that have been on rigs for a while now in Colorado just got fired and he's on a rig in North Dakota right now and they just lost the contract as well. He might be unemployed unless they send him to Arkansas or they get a contract in Texas next month.

My dad works in the oil field and has been unemployed here in colorado for almost 3 months. Low oil prices **** for that industry but I still dig my cheap gas //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

I would die of hunger before I took a job in the oil field in ND in the winter

 

[jonny101abc 10+ year member]

ya this sucks hard.

i got laid off a month ago from the southwest maintenance dept.

i just found a job last week, as a deli delivery driver.

F*** this economy