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6/21/2017 8:25:40 PM
Posted: 1/2/2002 4:26:57 PM EDT
Well at least in my area. I finally decided it is time to pick up a new computer. Mine is an old PII 233mHz frankinstein home built. I had a laptop at my old job, and I really liked it (hated laptop's before, but have changed my mind). So I do my research and find the brand model I want (Sony PCG-FXA36). A nice AMD 1gHz, DVD/CD-RW, yada, yada. Well I go out to pick one up today. 3 stores, and 5 phone calls later, I still don't have a laptop! I talked to the sales people (they were happy for the break). I asked how was sales this year? Each one came back "We can't keep anything in stock! Especially in the electronics department. As soon as we a shipment in, it goes right out the door. No one is batting an eye at the prices. We can even throw in all the frivialous extras and people just say, OK I'll take it." I finally ask when it would be a good time to come back to pick up the laptop. None of them could give a good answer. "Check back this weekend." "Check back next week." "Check back in 2 weeks." "There is a list in front of you." To me this doesn't sound like there is problems with the enconomy. Time for my tin foil hat... I am starting to think that it is the media pushing this. I even talked to a friend that is in sales for a major department store. He even said that it is nuts! They sold out all the good stuff, and that he has to wait for the shipments to come in all the time now. Which sucks for him, a day or two down time doesn't do well for his commission. I am confused.
Link Posted: 1/2/2002 4:39:14 PM EDT
I run a CVS pharmacy, and am as confused as you. I am very consistently exceeding budgets, and doing so through selling non-essential items.
Link Posted: 1/2/2002 4:46:12 PM EDT
Link Posted: 1/2/2002 5:07:28 PM EDT
My company's sales are down 30%, but most of that is Europe's fault. Personally it has been our family's most succesful year and we are very thankful. When I was buying my new truck, I had to go to four different dealerships before I found one available for sale.
Link Posted: 1/2/2002 5:13:16 PM EDT
Originally Posted By DoubleFeed: The only part of the economy that is doing bad is the tech sector. All that crap about "Woe is us, the economy is sooo bad" is just that, crap. There are plenty of thriving industries that are not having problems. I saw an article in I think Newsweek, about how the real estate market is doing extremely well. You don't have to put on your tinfoil hat at all. It comes down to Profit motive (get people nervous and they will stay glued to, and suck up everything from, the news outlets.)
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Yeah, the evil gun industry is thriving on bumper gun sales due to people waking the fuck up. Or as the antis would spin it: They are marketing the tragedy to create more tragedy. HEHE[:D]
Link Posted: 1/2/2002 5:17:45 PM EDT
Tech sector ain't all bad.
Link Posted: 1/2/2002 5:19:25 PM EDT
[Last Edit: 1/2/2002 5:22:08 PM EDT by gus]
Originally Posted By BenDover: Tech sector ain't all bad.
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I'll be better able to comment on how the tech sector is doing if I make it through January. I think I will though....
Link Posted: 1/2/2002 5:19:42 PM EDT
Unfortunately the "tech industry" spans a huge range of jobs. There are countless companies that do business with and supply products and parts *to* the tech industry. Trust me, there are a great many people in the "tech industry" that are out of work. The only thing that keep the US from going down into the pit right now is the fact that the Energy business is still solid (ahh, except Enron that is...). CMOS
Link Posted: 1/2/2002 5:35:23 PM EDT
I hope it is mostly just hype. It seems to be where near where I live. (Columbia,MO). I'm a Drywall Sub-Contractor, and this year has been great. Hell, you'd think we'd slow down now that winter's here, but we've been working 6 or 7 days a week. We were so busy in October and November that I was literally turning down work almost every night. I have seen some weakness in the tech sector. My mom and brother are both in that field and have had problems finding work the past year. But from what I understand that sector is starting to look up as well. All in all though, this recession doesn't seem to be as bad as in years past. I hope it remains that way.
Link Posted: 1/2/2002 5:47:43 PM EDT
Link Posted: 1/2/2002 6:47:56 PM EDT
I am an electrician in the Denver area and things have taken a huge turn south. The company that I worked for had 285 electricians when it was my turn to get the boot there was 175 and going down. Not near as much building going on. still looking for a job and getting cabin fever bad
Link Posted: 1/2/2002 6:56:21 PM EDT
... the military and defense related business is fairing well too.
Link Posted: 1/2/2002 7:00:22 PM EDT
Originally Posted By BenDover: Tech sector ain't all bad.
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He is right! It's good to be the tech.[):)]
Link Posted: 1/2/2002 7:02:22 PM EDT
Same here, have been trying to get replacement parts for some of the equipment we use. Either they are too busy to make it, or don't care if they get my money or not. I think the media is just blowing it out of proportion, 'cause that's all they have to gouge Bush with.
Link Posted: 1/2/2002 7:04:29 PM EDT
Link Posted: 1/2/2002 7:13:11 PM EDT
It's probably regional. In the tech-heavy Bay Area, things appear to be down. Retail sales, big-ticket items, you name it. Last I heard on the news was retail is down, with on-line stores doing better than last year, but not great either. In fact, many retail stores have toughened-up their return policies, which is a clear indication that things are not well.
Link Posted: 1/2/2002 7:14:01 PM EDT
Yeah...funny thing, this "slump." I had to help my friend who runs a "high end" wine shop. During these past few holiday weeks, he had 3 "record breaking" days. He's been around 4 years now, and did nothing unusual this year. I sold people $30 - $100 bottles all day! $800 gift baskets of Champagne!! Cases of wine at $250 and up! Hell, we were opening $60 - $120 bottles just for tasting with staff/friends/customers! If this is a "down turn"...keep it comin'!
Link Posted: 1/2/2002 7:23:52 PM EDT
I am a "rent-a-CIO" for county governments trying to migrate their public services to an online model. IT centralization & standardization, etc.... WHen I am on the bench I am my firms R&D and architecture department. Business has never been better for high level contracting with the government.
Link Posted: 1/2/2002 9:48:27 PM EDT
Motorola told us 6 to 8 weeks BO for 800MHz radios. I work in a growth industry and my employer just started one of their biggest recruiting drives ever.
Link Posted: 1/2/2002 10:07:19 PM EDT
Well it is satisfying to see that I am not nuts. Wheeewww I do understand that there are areas that do have a down turn, BUT there are others that are in an up turn. It looks like things are balancing out. I have to agree with Troy, the financial sector really has taken it in the shorts. But I think it is the media that is taking that specific information and blowing it out of proportion. As for the layoffs. Remember it is always at the end of the year companies lighten the work force. They are just trying to make the "books" look good. Unfortunately I don't agree with it. It seems like they are just looking at a part of their books, not the entire company at the end of the year. Also I know that there is alot of "funny" number juggling of numbers (I have witnessed it personally several times). It always boil down to "We need the tax break!!" But if they would look at the big picture, the break they get with the taxes rarely justify what they do in the long run of the company and their image or fiscal books. I agree also that there were several adjustments done (and needed) on the stock market. Values over inflated. Businesses that didn't have business plans, etc. But I think that things are getting straightened out. Sept 11 just did it faster than what was expected. But overall, I am not buying this recession. It is just an adjustment back to sanity. (these are just my ramblings, take them at face value, just ramblings)
Link Posted: 1/2/2002 11:23:05 PM EDT
[Last Edit: 1/2/2002 11:25:06 PM EDT by Imbroglio]
KMart is on the verge of filing for bankruptcy. Radio Shack is going to be shutting down 35 stores. EDS let go 8,000 in October. Pitney Bowes to cut 10% of its workforce worldwide. NBC to lay off 2,000. And the never ending list of new FDC's. Woo hoo!
Link Posted: 1/2/2002 11:32:41 PM EDT
Link Posted: 1/3/2002 12:00:24 AM EDT
Yes, the prison industry will boom. With all of those people out of work and desperate there will be more crimes committed.
Link Posted: 1/3/2002 6:25:08 AM EDT
Originally Posted By DoubleFeed: And through it all the demand for security, police, fire and EMT personnel has SKYROCKETED. Jump on board, boys, the sky is blue up here!
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Yup. I'm an accounting major, criminal justice minor. I haven't even finished an associate's and I've already had 2 offers from local law enforcement agencies for placement upon graduation from community college. The VSP is having beaucoup trouble hiring people; they've failed to meet recruitment goals for a couple years now (or so I've been told). I'm waiting 'til I have a bachelors before I start looking for a job. It'll just make getting and keeping a law enforcement job that much easier, besides giving me more chances at promotion. Anyways, CPAs are always needed even if the LEA market gets saturated.
Link Posted: 1/3/2002 7:19:12 AM EDT
I well remember 1982 when all of Jimmy Carter's ultra-high interest rates and other economic mismanagement chickens came home to roost. The liberal media was calling the situation the worst since Herbert Hoover was president. They consigned Ronald Reagan to the trash heap on one-term presidents. I'd bought into the hype because I was young, ignorant, and working in an interest rate sensitive industry. Then one day I found myself not in my familiar north Iowa surroundings but in an Atlantic City casino on a Wednesday afternoon. It was my first visit to a casino. I was shocked at how many people were there gambling as much money as they were, right in the heart of the worst "depression" since the Great Depression. It was there, in the casino, that I experienced a great revelation: the so-called "Reagan Depression" was a fabrication of the liberal media. If things were as bad as the columnists and news anchors said, there was no way these people on fixed incomes would be feeding the slot machines like kids in a park with a big bag of popcorn and a flock of attendent ducks. So much of how the economy behaves is directly proportional to consumer attitude. The great advantage of our country and our system is we reward managed risk and encourage investment even when the liberal media tells us all is lost. My advice to those who are suffering economically is to turn off the television, toss [i]Newsweek[/i] and [i]Time[/i] in the trash, and get outside where people are working to solve problems. Opportunity abounds! Remember too, even during the Great Depression in the 1930's, good help was still hard to find.
Link Posted: 1/3/2002 10:23:32 AM EDT
Originally Posted By Imbroglio: KMart is on the verge of filing for bankruptcy. Radio Shack is going to be shutting down 35 stores. EDS let go 8,000 in October. Pitney Bowes to cut 10% of its workforce worldwide. NBC to lay off 2,000.
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Two-thousand layoffs, or even 8,000 layoffs is insignificant.
Link Posted: 1/3/2002 10:30:44 AM EDT
Yes, the prison industry will boom. With all of those people out of work and desperate there will be more crimes committed.
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That's why us guns owners are stocking up on our arsenal. He! He! He!
Link Posted: 1/3/2002 10:41:28 AM EDT
In my job I sell a lot of repair parts to manufacturing and heavy industry. This sector has been slowing down since early 2001 and has not started any significant recovery yet. The people in this country would rather sell each other lots of imported Chinese crap at low, low prices than build things here. We seem to be turning into a service economy from a manufacturing giant. Finnbear out
Link Posted: 1/3/2002 10:49:51 AM EDT
Originally Posted By Finnbear: We seem to be turning into a service economy from a manufacturing giant.
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You just noticed that? We are a service economy.
Link Posted: 1/3/2002 11:04:31 AM EDT
Originally Posted By Sparky: I am an electrician in the Denver area and things have taken a huge turn south. The company that I worked for had 285 electricians when it was my turn to get the boot there was 175 and going down. Not near as much building going on. still looking for a job and getting cabin fever bad
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This might be the result of the fact that the real estate market in the Denver Metro area is currently a buyer's market. Basically, too many homes already available for too few buyers. For example, in the average price range a buyers can pick up a $175K house for around $150K or less. The loss of equity by the seller is a greater loss than the new home manufacturers can swing and as a result, no new homes are being constructed. The result of that is that contractors are sitting on the bench. Maybe I am wrong, but you never know.
Link Posted: 1/3/2002 2:49:41 PM EDT
Originally Posted By AR15fan:
Originally Posted By Imbroglio: KMart is on the verge of filing for bankruptcy. Radio Shack is going to be shutting down 35 stores. EDS let go 8,000 in October. Pitney Bowes to cut 10% of its workforce worldwide. NBC to lay off 2,000.
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Two-thousand layoffs, or even 8,000 layoffs is insignificant.
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But...1 layoff is a big kick in the sack if you are the one putting your belongings into a box and being escorted out the door!
Link Posted: 1/3/2002 2:57:50 PM EDT
Originally Posted By AR15fan:
Originally Posted By Finnbear: We seem to be turning into a service economy from a manufacturing giant.
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You just noticed that? We are a service economy.
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10,000 US factories have closed since NAFTA came to be.
Link Posted: 1/3/2002 3:17:37 PM EDT
Link Posted: 1/3/2002 3:20:26 PM EDT
Originally Posted By DPeacher: But...1 layoff is a big kick in the sack if you are the one putting your belongings into a box and being escorted out the door!
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You got THAT right!!! Nothing worse than getting laid off, despite great job performance. Except maybe having to gove notice to others that are being laid off, then a day later getting laid off youself. Been there. Done that.
Link Posted: 1/3/2002 4:47:38 PM EDT
Originally Posted By DVDTracker: Heard on the radio that the Contra Costa County sherrif's office has 100 positions open.
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I could be wrong, but I'm pretty sure those positions are for undercover officers hired to hang out in bars and take note of establishments that permit customers to smoke inside, which of course, is illegal in the nanny state. The bar is then issued a citation at a later time, not knowing who the officer is who witnessed customers smoking.
Link Posted: 1/3/2002 4:51:04 PM EDT
Link Posted: 1/3/2002 5:41:08 PM EDT
Link Posted: 1/3/2002 7:27:03 PM EDT
all those .coms are tanking because their stock was overpriced and they didn't actually provide any goods, just services, most of which can be had for free. People finally realized this and dumped their stock, causing the market to drop and people to panic
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