back to the (credit crunch)

[Frank]

I have been away for the weekend and talking to a lot of family and most of them are feeling it.
My bro works for "Jiffy Bags" and his "two on,two off ",12 hour shifts have been cut to normal shifts.This leaves him £100 a week down.
My cousin works for Bently.They have lost 200 staff and the remainder have took a 10% pay cut till next yr.
My work is all over the place as well.£1200 one week,£200 the next.
Are there many people out there who have not been affected?

[kwak zzr]

16,000 jobs to go at Royal Mail, 15 on our shift alone thats 120hrs! our local makro is also closing :(

[Kate Moss]

Broadreach is suffering aswel. Staff are not too sure where we stand, one week they dont have enough money to pay our wages, then the next they do. We have a serios cash flow problem, plenty of assests but no cash.
Scary times when you don't know if you are going to get paid from one month to the next.

[Frank]

I also noticed at the weekend ,that nearly everypub we visited were deserted.
One of them are now running a "7 day,eat what you want carvery" ,for £3.50.
Anything to get people in

[husky03]

its hitting nearly everyone-we were doing pub visits on saturday and i've never saw as many pubs so empty -a few had no customers in at all.
I'm probably in the best job during these times but can see the effect its having on everyone else, family included.

[punyXpress]

About the only people not affected seem to be politicians and ( some ) bankers.
Those who are most to blame for this monumental upcock.

[plowsie]

Not affected me :) Still paid as little as possible :)

[husky03]

Not affected me :) Still paid as little as possible :)


:smt046

[shonadoll]

I'm really surprised that where I work (a vets) hasn't been affected really (yet). We are still as busy as ever, but maybe it's just a matter of time.

Hubby's work (aviation) has been greatly affected-he's in the USA at the moment and he said it's hit hard there too.

[Drew Carey]

I must admit that I seem to be largely unaffected.

I work for the countrys largest Finance outsourcing company. They specialise in taking on outsourcing deals from Pension companys, streamline the administration etc with new improved systems and trying to make the business more efficient. Currently working on a huge IT project to develop a new system for the industry. They have so far spent approx £120m on the 7 year project and we have clients being implemented over the next 2 years from some of the countries largest pensions businesses.

The only redundcies that have been mooted are those that will be made once the new systems are in place, but in terms of the project team I work for they have managed to very cleverly get itself into a position where large amounts of the project and business rely on us, so even if cut backs are made on the project we have been assured we will not be hit.

I know that people generally are finding it hard. Also agree with the pub issue, so many places seem much quieter now. Hope anyone whos struggling finds ways to sort it out. Dreadful time at the moment and I count myself lucky but know a lot of people who are not so.

[Stingo]

I am extremely fortunate. I am (currently) uneffected.

In fact, I am given to understand that the queues to get into the Armed Forces Careers Offices just keep getting longer.

PS This is not meant to belittle anyone or anyone's problems/dificulties - it's just an observation that somebody told me about.

[Mr Speirs]

I was affected by the credit crunch back in May last year when I couldn't get a low rate on a loan but haven't tried to take any credit out since.

The recession hasn't really impacted me. I know my job is safe for another 3 years. Our business is very fortunate in the fact that overheads are low and we own all our gear. I have however started looking at my outgoings and started to think more long term.

The most it has affected me is that I have lost alot of money on my car and am struggling to sell it for a decnt value but its hardly panic stations.

My personal feeling is that the 'recession' has been taken out of context by the media which has sparked an almost panic mode in the public. Because of the credit crunch the overinflated housing market slumped which led to alot of job losses in that artificially inflated industry. The media then report this as mass redunancies across the whole country rather than a specific industry and people and companies start to tighten their pockets which has had an affect across lots of industries.
Also a some business aren't getting any credit they aren't able to survive (woolworths for example). I thought woolworths would have folded long ago but it only survive due to the credit it was given. When it was taken away it folded like it should have done years ago. I not saying running a business on credit is a bad thing but when it goes away the business should be able to support itself, if it can't well the inevitable happens. You make no money, you go bust.

There are people out there who obviously have been affected heavily by the recession those involved in the housing market mainly and it is a shame but I have a feeling most of us whaven't seen the drastic effects of the recession the media would lead you to believe.

[Bluepete]

We talked about this at the Hardy Bikers ride a little. Several members are in difficulties, others are not.

The headlines tell us crime will rise as unemployment "forces" people into crime. Hmmmm, not sure about that, but it keeps me in a job. Mrs BP is a teacher, so fairly secure too. And before anyone says it, yes I know my kids are really, really unlucky! :smt019

PS, I'm no economist, but can someone tell me where the money went? Or was it just never there? :confused:

[dizzyblonde]

I'm currently unaffected.
Although I'm pretty sure the plans for moving to a bigger house this year, will be complicated by it, something else in the way again, like the last three years :-( I think I'm doomed to stay in chav central.

[markryker]

Things not affected us chocolate makers yet either, seems everyone still needs their fix :)

[husky03]

PS, I'm no economist, but can someone tell me where the money went? Or was it just never there? :confused:


Think your last comment there hits it on the head Pete-lots of people have been living maybe not beyond there means but very close to it-overdraft survival I heard it called, guys into there overdraft a week or two after pay day, mortgages of 800-1000 a month-plus a car etc-glad the mrs just gives me pocket money and takes care of the rest

husky

[timwilky]

My brother and son are both jobless as both are (were) employed within building trades. I have had to pay my sons mortgage for the past two months. My step mother works for a small builders merchants who are feeling the pinch and lost a few customers who have gone bang with outstanding accounts.

I suppose my co does OK at the start of recessions. We build power stations, trains etc. Big very expensive capital projects that the money is allocated to years in advance. It is 2 years in that we start to feel the pain.

Now I seem to recall someone saying they had ended boom and bust. and how they had been prudent with the nations money. Strange I would have thought the prudent man would have invested his money in the good years to ensure he had money available in the bad. It seems poor money management to borrow money when you have no income. Assuming that you may be able to repay it over the next 30 years. I am sure my brothers/sons bank manager will lend them funds to keep going because the economy will recover (oneday!)

[ArtyLady]

I've got a fair bit more work than usual! :D Seems peeps love their pets and will pay out for portraits - fortunately for me!

[speedplay]

I found out that my job has gone.
Construction has taken a hell of a hit of late so I'm taking a couple of months off, chilling out and geting out on the bike.
I may fall back on my trade as a carpenter at some stage and do a few smallish jobs (kitchens/extentions ect) but I think the worse is yet to come.
The OH works in marketing and accounts managing and she seems to be ok for now, might have to become a kept man ;)

[Baph]

Are there many people out there who have not been affected?

Another one not affected here. I work in a company that deals with/offers multi-continental gambling.

People will sadly gamble right down to their last penny. Something that I occasionally witness through work, and probably the least favourable thing about the job (being the person that says "No, they can't have the money they think they're owed").


PS, I'm no economist, but can someone tell me where the money went? Or was it just never there? :confused:

Again, coming from my work perspective, it was never there. If there was anything resembling money, it was just a series of numbers on a computer screen.

[dizzyblonde]

Things not affected us chocolate makers yet either, seems everyone still needs their fix :)

yes indeeedy. When peeps are down they reach choccy, booze, fags and gambling. Heres hoping the swiss don't decide to pull the plug on their British factory;)

[BigFootIsBlurry]

I've been affected to an extent, they're going to up my working week and freeze the pay, no bonuses for a couple of years and less perks. Its better than losing the job altogether though, I've got friends fresh out of uni with me this summer who are stuck washing dishes full time, cant get anything else for love nor money.

[slark01]

At the moment we have not been badly affected. If anything we have been benefitting out of it. Cost of food, etc has gone down and it's left us with more cash per month.
In a couple of years time, it will be the opposite!

[Dave20046]

A lot of people have been affected, I was considered to be booted but survived. My mums a teacher and she's at risk as her school are making redundancies. This recession's going to be a massive **** up...but I don't like talking about it on the .org, it's not for doom and gloom it's my happy place :D

[dizzyblonde]

I've got friends fresh out of uni with me this summer who are stuck washing dishes full time, cant get anything else for love nor money.


ahh yes, that chestnut. Last year for me and Im Indoors was a particularly headbanging year, hip surgery and final year were a horrid combo. This year was going to be a hopefully significant change for him in his career, and so many dreams were planned for our future together. Its hard enough for graduates, but this is bloody awful.
For the moment I keep telling him hes lucky to be making chocolate and getting a poor wage, than not having a job at all, its frustrating him in a huge way. The job was only going to be there for as long as he was studying, but now hes stuck with it. Its not particularly a great subject to chat about in our house. So I suppose in a way we are affected by this credit crunch.

[Davido]

Our work has slowed down, but as I'm on slave wages it doesn't really affect me.

[keith_d]

In previous bad times the pattern has been:

1) Cost savings, travel ban, etc.
2) Freeze on hiring new staff
3) Redundancies

So far, we're only on step 1, but everyone's expecting 2 and 3 to follow in the next financial year when our customer's budgets dry up.

Keith.

[shonadoll]

I must be shopping in the wrong places-here in Scotland food prices just seem to go up and up. I know I sound like I'm a pensioner.

[keith_d]

Someone asked where the money has gone.

Some of it has been lost by lending it to americans with no hope of paying it back
Some of it has been taken back by the foreigners who lent it to our banks
Some of it is sitting in banks who daren't lend it because they don't know who is going under next.

A whole lot more is fictional money. For example, the shares in a company are only worth what someone else will pay for them. If all the buyers decide overnight that a company is worthless, the people holding that stock can only sell at a loss or hold out and hope it recovers.

The actual value of the company assets and future cashflow haven't changed overnight, but the pensions and banks holding those shares still have to declare huge losses at some point. Where has the money gone? Nowhere!!

Just my monday thoughts,

Keith.

[Lucas]

I'm in the creative design sector, there was 80 of us last week (large for its kind), there is now 64 :(

my other mates in the same business has see 50% go :shock:

there are no jobs for those who has lost their either...

[PAPPACLART]

I lost my job back in November, now the current company I work for have announced redundencies. So yes I am very much effected.

[ThEGr33k]

Oh joy... Sigh... This would happen when im wanting to change my life... Not to worry im carrying on regardless, there is no way im staying in my current job, even if it is a "safe" one as far as actually keeping a job goes. :rolleyes: