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post #1 of 41 (permalink) Old 12-10-2008, 08:02 PM Thread Starter
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Is the recession affecting YOU yet?

Over here in Taiwan we feel pretty much insulated from things that are happening back home but we see the news and follow events online and Man, it ain't looking good.

A friend of mine turned it to his advantage last week by buying a house for $20K less than the asking price but I keep thinking if he'd waited a bit longer he might have got it for even less.
Car companies are cap in hand to Washington and offering huge discounts on new purchases. The Auto bail out had to happen though, if it hadn't the 'ripple effect' would have been staggering, $15Bn to Chrysler and GM but SFA for Ford?
Time for the UAW to look at the big picture now, they've ridden the gravy train for way too long and they're certainly more than partially accountable for the failing competitiveness of the US car manufacturers i.m.o

We were thinking about coming home next year for a while but in all honesty it's looking less and less likely with all the layoffs and closures happening. May just take the opportunity to get myself a bit more education, do some more travelling and bank some more dosh.

Fortunately our earnings in Taiwanese dollars buy us more Canadian than they did before (about 12%) so sending money home now is good.

On the other hand, coming home and buying a house and car right now would be pretty cheap ... relatively speaking.

Has the recession affected any of you directly?
Any 2 for 1 new bike deals being offered?
... Yeah, thought not....

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post #2 of 41 (permalink) Old 12-10-2008, 08:06 PM
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I've seen Yamaha offering 2 for 1 bike deals.

Buy a retardedly overpriced YZ450f and they'll give you a shit PW50 for FREE!

in all seriousness tho that's a good deal if you've got a young kid you wanna go riding with.


Recession hasn't really hit me yet, I'm not sure I'd notice if it did tho, student life and short term jobs are so up and down anyway that it'd be inside standard deviation.

HAIL TO THE KING!!

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post #3 of 41 (permalink) Old 12-10-2008, 10:42 PM
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It's affected me by not being able to find a job ANYWHERE! Everyone is using the current state of the economy as a reason not to hire anyone, whether or not it is true, I have no idea. I have put in over 100 applications here in AZ and not one single bite. I got dicked around by a Mercedes dealership for 2 months or more going through the hiring process for them to only come back and tell me at the last minute that they have to cut costs and can't hire anyone.


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post #4 of 41 (permalink) Old 12-10-2008, 11:09 PM
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I think it effects everyone to some extent.... my company is using this as an advantage over the competition though, time to get in and build some strong programs for when things turn around we can take advantage of it and be ready.

Not everyone has this option though as some companies run day by day with cash flow and spent there wad when times were good.



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post #5 of 41 (permalink) Old 12-11-2008, 08:11 PM Thread Starter
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I just saw report on BBC world news that said the bail out talks have stalled in the Senate because the UAW is refusing to accept wage reductions for its workers..

HEY MORON!!

Take pay cuts or lose your members their fuckin' jobs which is it gonna be??

The ARROGANCE of those fools.
People are losing their jobs in the millions, the companies resposible for employing the majority of UAW members are pleading for a handout or face bankruptcy, the US government is demanding restructuring and accountability from the Auto makers before they grant bail out funds and yet the union which has consistently demanded ridiculously high wages and benefits for unskilled and semi skilled labourers is refusing to compromise??

Sorry to say it but if that's the stance they're going to take they deserve everything they get...

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post #6 of 41 (permalink) Old 12-11-2008, 08:17 PM
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Yes it's going to get a little worse before it get's better, as long as people have prepared themselves for it they will be just fine. It will come back and stronger then ever.



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post #7 of 41 (permalink) Old 12-11-2008, 08:42 PM
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tomorrow is going to be a bad day on the market, real bad.

the loan to the auto makers stalled. because the republicans and democrats are at odds over details .

the thing no one is talking about cnn or who ever , is that toyota honda mercedes benz etc are all in trouble too.

our new car market went from 16 million sales to 10 million.

we can give money out to invisible people in invisible banks with out any receipt to the tune of 350 billion , 700 billion, but a loan to the auto makers for 20 billion is way out of line.
its a loan to bail out the uaw? maybe? I honestly have not decided yet. the jap car companies and german car companies were gearing up to build big suvs when the bottom fell out now everyone is crying hug a tree or die. I just am not sure the whole problem is gm, ford, dodge workers fault.

David
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post #8 of 41 (permalink) Old 12-11-2008, 09:21 PM
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I think it's one of those things called growing too fast, it's something that can and will hurt most companies. The thing is when people see a demand they want to take advantage of it. Where is all this money they made a few years back with the SUV craze? It's gone.... so when they make money it's all cool, they spend it, buy jet's, give large bonuses etc... but when they get bit for growing too fast then it's up to the tax payers to pay even more money to them?

I'm still calling bullshit, even if it puts us all in worse shape, maybe the majority will learn from it and not repeat the same mistake twice in the future.

Fook em', let the chip fall where they may!



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post #9 of 41 (permalink) Old 12-11-2008, 11:59 PM
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I see it like this... The unions and the CEO's of several large companies and had it too good for too long and they need to take a second look at what they make $$ vs. losing their job. The unions are dead! Peroid! They had their time and now its time for the avarage worker to EARN a living. Why pay a person $73 an hour to put in 5 screws In mean really. People wonder why jobs are going to mexico and other countries, DUH! For instance it costs $15,000 to make a $50,000 suburban and $6,000 of that is wages. WTF? I worked in a factory its not that had or that bad. The unions need to disappear they are fucking the everyone. And they don't even know it! I could go on and on but I am RINN-TDRUNKE to chat now....


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post #10 of 41 (permalink) Old 12-12-2008, 05:50 AM
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My company just announced a wage and salary freeze until further notice. Seems pretty mild by comparison with others in our industry going to 3 and 4 day work weeks. I'm really grateful to have a job.
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post #11 of 41 (permalink) Old 12-12-2008, 06:04 AM
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luckily im a registered nurse and a registered respiratory therapist if im out of work the shit has really hit the fan but............

hospitals are freaking out

medicare is cutting reimbursement and refusing to pay for things that are silly and in the end is going to hurt the patient

the cost to provide care keeps getting more and more expensive. The fancy new drugs and tests that everyone expects and demands are big big bucks.

think about everyone that is unemployed or soon will be. Do you think they have medical coverage, no. My hospital is a non for profit( ill bet they are kicking themselves for that now) so they cant turn anyone away. We are a trauma hospital, and a pediatric hospital. Both very expensive care costs with very high percentage of uninsured. Both of these services have been loosing money for years but the rest of the hospital has made up for it. Now with the reduced pay back for services who knows whats going to happen. I predict you will see hospitals going out of buisness.

The staff was all complaing because we only got 2% raises this year, I think everyone should rethink it and be grateful !!!!

I want to move in the next 6 months to a year so if hospitals overall are not hiring with both me and the wife in health care it might effect me then by not allowing me to do what i want. Which i guess is not that big a deal.


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post #12 of 41 (permalink) Old 12-12-2008, 06:05 AM Thread Starter
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Quote:
Originally Posted by beavisr1 View Post
I see it like this... The unions and the CEO's of several large companies and had it too good for too long and they need to take a second look at what they make $$ vs. losing their job. The unions are dead! Peroid! They had their time and now its time for the avarage worker to EARN a living. Why pay a person $73 an hour to put in 5 screws In mean really. People wonder why jobs are going to mexico and other countries, DUH! The unions need to disappear they are fucking the everyone. And they don't even know it! I could go on and on but I am RINN-TDRUNKE to chat now....
+1 brother, + fuckin' 1

I just HATE the fact that even with the MASSIVE loss of jobs that the Auto makers are facing and the huge trickle down to other sectors, paint companies, tool and die makers, machine shops, stampers, parts manufacturers, chemical and lube companies, the UAW is STILL too fuckin' arrogant and idiotic to bend even just a little.

Wonder how the members will like having no jobinstead of a little less money.

Fuck I'm pissed off ....

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post #13 of 41 (permalink) Old 12-12-2008, 06:49 AM
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I think the unions are terrible , they destroyed the steel industry in our country years ago.there is no way the guy driving a forklift should make more money than my sons pedietrition. I was just saying It is more than that right now.

I for example would like to buy a car for fun , like a corvette or what ever. with the economy the way it is I am kind of reluctant. you have people all over the country doing the same thing And it seemed to happen over night in some ways.

David
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post #14 of 41 (permalink) Old 12-12-2008, 08:09 AM
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that speech the guy made from the uaw what a twit, blame the government and not themselves, f u


as soon as he came out and took a drink of water like everything is cool and he wasnt stressed I knew he was going to act like that. BTW who's mustache goes gray before their hair????


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post #15 of 41 (permalink) Old 12-12-2008, 08:13 AM
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Union will be the end of the deal, in Canada they asked workers it they would go for a pay reduction and they also said no.


Oh well, I guess they don't want jobs anymore.


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post #16 of 41 (permalink) Old 12-12-2008, 08:35 AM Thread Starter
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Quote:
Originally Posted by vcyclenut View Post
that speech the guy made from the uaw what a twit, blame the government and not themselves, f u
Yeah, as far as the current state of affairs goes the UAW is completely irresponsible ... I mean ... not responsible.
If they're too stupid to see the writing on the wall, then they're just too damn stupid.

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post #17 of 41 (permalink) Old 12-12-2008, 12:59 PM
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Quote:
Originally Posted by Yamahuh View Post
I just saw report on BBC world news that said the bail out talks have stalled in the Senate because the UAW is refusing to accept wage reductions for its workers..

HEY MORON!!

Take pay cuts or lose your members their fuckin' jobs which is it gonna be??

The ARROGANCE of those fools.
People are losing their jobs in the millions, the companies resposible for employing the majority of UAW members are pleading for a handout or face bankruptcy, the US government is demanding restructuring and accountability from the Auto makers before they grant bail out funds and yet the union which has consistently demanded ridiculously high wages and benefits for unskilled and semi skilled labourers is refusing to compromise??

Sorry to say it but if that's the stance they're going to take they deserve everything they get...
Unions and the UAW are the biggest bunch of dumbfu(ks on the planet. i say let them go under. you're broke b/c you pay too much......and oh let me get this straight, you want a bailout from the government........but you don't want a pay cut?? come on! losers like that have ruined the country
IMO


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post #18 of 41 (permalink) Old 12-13-2008, 08:55 AM
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It hasn't affected me directly yet, I don't have anything in the stock markets, just in savings. My rrsp probably took a hit, but I'm not overly concerned at this age yet.

My job is at a non-profit, and I am the whole IT department for my office of 70 users, so I don't think they could downsize me at all. Our donations are down, but there is no way the church will collapse. My wife works in a nursing home, and with the baby boomers starting to trickle in there, she is probably safe for the next 30 years too.

We will have to see how house values are next year. With a kid on the way, we've been considering moving next year. If our house value has dropped too much, we'll just stay here for a couple years. They haven't dropped nearly as much in the area (Toronto-Niagara) as much of the US, so thats comforting.


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post #19 of 41 (permalink) Old 12-13-2008, 11:41 AM
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yea a few years back my house was worth 400,000 or so now there are houses like mine for sale in the 165,000 range, ouch kicking myself for not selling now as we toyed with the idea


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post #20 of 41 (permalink) Old 12-13-2008, 12:32 PM
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Quote:
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yea a few years back my house was worth 400,000 or so now there are houses like mine for sale in the 165,000 range, ouch kicking myself for not selling now as we toyed with the idea
Just think of the poor folks that bought houses for 400,000. Now they owe more than its worth.
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