The economy as a whole vs. your specific situation

[Dave Gray]

I have had a tough go of it for about a year.  My business is at the barest of bare bones, largely because my resellers have stopped sending work over.  Clients have had less to spend -- bottom line.

Anyway, I've managed to survive, because I have a good base of my own clients that I've kept happy, and I was able to cut costs pretty heavily.

Anyway, I've noticed in the last week that there's been an easing of people's minds and a willingness to finally sign on.  I've had a few new requests, some phone calls, and some people on the fence who are finally ready to get started.

I'm not out of the woods, and I've still got a long way to go towards long-term viability, but I can see things getting better.  I'd heard that this was the case on the news, but I'm only seeing it right now.

Are you seeing more/less/the same business where you are?

[SportsChick]

I lost my job in October and when I couldn't find anything new, I made the decision to go to school full time this semester.

[jtex316]

I think i've said this before, but America was eventually going to spend itself out of it's own economic woes. We can only save for so long before we have enough savings that we can say "yeah OK let's spend some money now".

The recession has lasted a few years, which historically is just about the time where things turn around for the better. As long as we don't go invading any more countries, we won't have another recession.

[Brian Fein]

My biggest issue is the decline of my home's value.  I continue to pay mortgage on a principal that no longer exists.  I have inquired about several programs, but my home is so far upside-down that I can't get help from anyone unless I come to the table with at minimum $20k.  Just unfeasible.

So I will continue to pay my monthly mortgage payments and get nothing in return except for a decent credit report and no hassle from collectors.  It irks me every single month when I get a statement that tells me that I'll lose a huge chunk of money someday, if I ever have delusions of trying to upgrade my situation.

[StL FinFan]

I still don't have a job, but the job market seems to be opening up.  I am not sure if it is due to the economy or just the nature of the business.  We are traditionally more busy in the warmer months.

[bsfins]

Mine actually continuing to get worse... While our client base is going through the roof,the ones able to pay have taken a sharp decline.( in part is a ripple effect of the bad housing market) Our office used to take Deeds to land,cars,etc, as collateral for payment. The Past 6-8 months, I've been applying for a "creative type job",In January (Having Lunch with my Boss) I told him about my struggles in finding a creative job,He told me that when I got hired,there were some clauses that I signed that I maybe wasn't too aware of....After 180 days of service,I have a no compete clause with in 300  miles radius,the Clause is time dependent on the time served with the firm...(Basically Time with the Firm,up to a maximum of 3 years...).In Also, in Non legal jargon, I'm obligated to appear in court on my dime for 6 months after leaving...

Then throw in 2 knee surgeries already this year,can't exactly go work in a warehouse anymore can I? So I fell I have so many fewer options to me,than I did say 3 years ago....I almost feel strong armed to stay...

[Phishfan]

B, are you working somewhere other than the investigation agency now? My mental picture of "creative type job" and yours may be different but I don't see how that would fall under a non-compete agreement. Every state has different laws regarding those anyway, but unless you are a big wig or are able to share trade secrets they really aren't worth the paper they are printed on (in Florida anyway) as the legal expenses of enfocing it outwiegh just cutting ties.

[bsfins]

I'm and investigative researcher for criminal defense attorneys,I have to testify in court about things I've found,researched.cases I've worked on...I could quit tommorrow, but they would just subpoena me to testify.The no compete, is so A.) I don't go to another Law firm B.) Go take a job in the prosecutors office.

Where it screws me...My boss kind of explained to me, if I want take a nother job, it would be more wise to take 6 months off...then get a job.I have to clear all my cases,as in going to court. I can't exactly get a new job tommorrow, and say...Well I need most of Tuesday,Weds,and Part of next Friday off...Then the Following Monday and Thursday for sure...Maybe Weds too....Who would hire me?

Modified to add. The financial part of the question, comes down to we have cases pending,or that have been moved all around the state.They don't have to pay me to testify,Pay for expenses etc,etc.

[Philly Fin Fan]

It has helped me and it has hurt me.

It actually helped me get my current job. I wasn't happy at my previous employer and I happened to have a recruiter contact me about an opening. When I interviewed with my boss (we knew each other, so it was more or less just talking over  lunch), he basically said "I want to hire you, but I know the economy is bad, and you may not want to leave the stability of where you are. So I'm going to offer you a nice salary to persuade you to come work for us."  Ummmm, ok! I've read lots of articles that talk about how during a bad economy, companies will try to lure away people from competitors, to strengthen themselves for when the economy turns around.

Here's where it hurts
- I get a salary and I also get a bonus paid on sales once I hit X number of dollars in sales. Normally, it's an easy number to hit. But last year, my sales were only about 1/4 of the number I needed to hit. This year, I've already beat my sales for last year, and the first quarter is only 2/3 over (our fiscal year runs Dec. to Nov.).

- a lot of contacts I had (a designer at this company, the head of construction at this company, etc) have been let go by their companies. This makes it harder for me to reach out to my contacts and try to generate new business.

[BigDaddyFin]

Couldn't care less about the economy as a whole, not because I don't care about people, but because I think the country's headed for a major economic realignment no matter what the economy does.  I also think the next 5-10 years will determine largely what happens to us as a nation, both politically and socially and could change at any time.

My specific situation is this: I lost my job last May because I was stupid, in September I found work for a lot less money.  So right now things are a little tight, but I know that I will find another job in a hurry if I put my mind to it and stay focused and positive and don't get stupid again.

When things do turn for me, there isn't going to be a whole hell of a lot I can do about the economy as a whole but I've read enough and tried to educate myself about finance and investment enough to where I can take what money I can save over time and make enough to retire on over the course of say 20 or 30 years. 

The other thing I wish people would stop asking me is what I want to do with my life.  I don't know.  And the more I think about it, the more indecisive I get about it.  I know my future lies elsewhere and right now that's all that matters.

[TonyB0D]

thank god i have a recession-proof job with great benefits - lucky me!!

[Guru-In-Vegas]

I have a recession proof job as well.  But I recently found out I'm 80Gs upside down on my house. 

[Defense54]

I'm fortunate as well . When the economy is down people look to crime to supplement their incomes. Buisness is a booming.........    3rd time this week I've put in a 16 hr day.