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United Therapeutics is another company that sees the true value of the Triangle. They love the area so much and know what it has to offer, that they have decided to DOUBLE their investment in a new RTP location. See this article:
It's just another sign of what business thinks of our talent, infrastructure and location. We as people and our local governments have done a fantastic job in creating a meca for personal & business growth. This is the reason this area consistantly ranks as one of the BEST places in the country to work & live.
In my field (more or less), I was disappointed this week to read about Motricity. That is a lot of folks and was a very hyped local company. At least the paper the same day had a story about NetApp growing locally. (Of course the Motricity cuts are "real" while the NetApp numbers are "projected"). And it appears Nortel locally will suffer more cuts soon. Glad I feel secure in my employment, because I do fear we are in for some pain.
In my field (more or less), I was disappointed this week to read about Motricity. That is a lot of folks and was a very hyped local company. At least the paper the same day had a story about NetApp growing locally. (Of course the Motricity cuts are "real" while the NetApp numbers are "projected"). And it appears Nortel locally will suffer more cuts soon. Glad I feel secure in my employment, because I do fear we are in for some pain.
Nationally, I think the worst is still ahead ......there will be pockets of good areas, Raleigh area probably being one of them, but the people it's hitting first are foundation of "today's" economic woes and for the rest of us, (or at least **me** personally), our reaction to the news is to tighten the purse strings and reconsider those extras which will slicw a dble edged sword right across the middle of the economy in the near future
I think calling this recession we're heading into is being kind.....I feel it's going to go much deeper
Last edited by Fallingwater79; 03-08-2008 at 10:43 AM..
Bingo...there are so many layers of bad investments (anyone see the head of Countrywide's story? Turned in all his stock before the housing market crashed to the tune of 400 mil....he stated he had grandchildren to put through college LOL ) that haven't hit the fan yet and the energy increases have so outpaced the cost of living and incomes that it's another tsunami in the making.....
I hate to sound so Henny Penny but just reading the writing on the wall....
Lets bring the topic back to a local discussion please. And not let it sway too much onto the national side. Thanks.
Bringing this home to the Triangle, a precipitous drop in tech employment will cause a major disruption if many of the higher paid folks leave the area.
The traditional labor base in the Raleigh area doesn't have the financial resources to take the McMansions even at fire sale prices.
An avalanche of foreclosures will get worse and worse as falling property values cause more properties to be abandoned.
The traditional labor base in the Raleigh area doesn't have the financial resources to take the McMansions even at fire sale prices.
Exactly what do you mean by "traditional labor base"? Do you mean tobacco farmers? Times change, jobs disappear and new jobs are created. For over 50 years, tech has had an important part in the Triangle.
Exactly what do you mean by "traditional labor base"? Do you mean tobacco farmers? Times change, jobs disappear and new jobs are created. For over 50 years, tech has had an important part in the Triangle.
Well the median family income in Raleigh is 70k. That isn't exactly a lot if you are trying to buy a 500k + house.
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......there will be pockets of good areas, Raleigh area probably being one of them, but the people it's hitting first are foundation of "today's" economic woes and for the rest of us, (or at least **me** personally), our reaction to the news is to tighten the purse strings and reconsider those extras which will slicw a dble edged sword right across the middle of the economy in the near future 
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