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Old 07-22-2008, 08:49 AM
 
Location: Charlotte NC
1,079 posts, read 2,501,275 times
Reputation: 993

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Quote:
Originally Posted by FrankTheTank2 View Post
The banks and financial services sector is taking the brunt of this recession....
actually it's the banks, financial services sector, and starbucks coffee that's taking the hit.
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Old 07-22-2008, 08:54 AM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,545,095 times
Reputation: 2118
Quote:
Originally Posted by eman1200 View Post
actually it's the banks, financial services sector, and starbucks coffee that's taking the hit.
I can deal with the first two items, but when my coffee starts getting shakey....woah, time to take action!

Of course I'm kidding folks...
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Old 07-22-2008, 08:58 AM
 
Location: The 12th State
22,974 posts, read 65,505,372 times
Reputation: 15081
Quote:
Originally Posted by Miker2069 View Post
I can deal with the first two items, but when my coffee starts getting shakey....woah, time to take action!

Of course I'm kidding folks...

Ah, I have the solution for your java worries . You attend with us at the cool local owned funky coffee shops that we attend.
This way you can help the locals out and help Charlotte from a coffee recession
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Old 07-22-2008, 09:14 AM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,545,095 times
Reputation: 2118
Quote:
Originally Posted by SunnyKayak View Post
Ah, I have the solution for your java worries . You attend with us at the cool local owned funky coffee shops that we attend.
This way you can help the locals out and help Charlotte from a coffee recession
That'll work!
I love the "cool funky" (I like that phrase) coffee shops in Asheville (which I happen to love by the way). I'd love to find similar places in and around Charlotte. Anyway that's a different thread
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Old 07-22-2008, 09:40 AM
 
Location: Oz
329 posts, read 1,271,421 times
Reputation: 201
This article on cnn states 6350 jobs cut. There are jobs being cut across the board in many companies.

Living in the KC area where Sprint Nextel is based (Overland Park, KS), there have been layoff's throughout the last 10 years on and off of 1,000+ locally each time, one time I believe it was 3000+ and I have never notice a strong negative impact on the economy. In Jan 2008, 4000+ people were laid off from Sprint nationwide (I know it's not 6,350), many from the KC area and the economy here is stilll doing pretty good.

Yes, it sucks if you are one of the people getting laid off and the job market is tight right now, but the numbers aren't as bad as the sound.

Last edited by KansasChick; 07-22-2008 at 10:35 AM..
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Old 07-22-2008, 10:13 AM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,545,095 times
Reputation: 2118
Quote:
Originally Posted by KansasChick View Post
This article on cnn states 6350 jobs cut. There are jobs being cut across the board in many companies.

Living in the KC area where Sprint Nextel is based (Overland Park, KS), there have been layoff's throughout the last 10 years on and off of 1,000+ locally each time, one time I believe it was 3000+ and I have never notice a strong negative impact on the economy. In Jan 2008, 4000+ people were laid off from Sprint nationwide (I know it is 6,350), many from the KC area and the economy here is stilll doing pretty good.

Yes, it sucks if you are one of the people getting laid off and the job market is tight right now, but the numbers aren't as bad as the sound.
It took an entire 3 minutes for that article to be published and then to be posted here. Wow. Ken Thompson was right, 2008 is a pretty bad year!
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Old 07-22-2008, 10:22 AM
 
Location: State of Being
35,879 posts, read 77,469,759 times
Reputation: 22752
Quote:
Originally Posted by KansasChick View Post
This article on cnn states 6350 jobs cut. There are jobs being cut across the board in many companies.

Living in the KC area where Sprint Nextel is based (Overland Park, KS), there have been layoff's throughout the last 10 years on and off of 1,000+ locally each time, one time I believe it was 3000+ and I have never notice a strong negative impact on the economy. In Jan 2008, 4000+ people were laid off from Sprint nationwide (I know it is 6,350), many from the KC area and the economy here is stilll doing pretty good.

Yes, it sucks if you are one of the people getting laid off and the job market is tight right now, but the numbers aren't as bad as the sound.
Yep. And having lived there (KCMO) I knew people who got laid off - and many of them got re-hired at Sprint in different divisions - and not just once - several times. My next door neighbor was in marketing management - her whole dept. got whacked (from cell division) and then they all applied (to land-line division, I guess) and most got their jobs back - but it took over 10 months. In any case, it didn't greatly impact the economy - and the region is very similar to CLT . . . as far as city size (altho KCMO's MSA may be larger).

And now, here in CLT, my next door neighbor works for BofA (has, for over 20 years). She has gotten laid off several times - and then re-hired later in a different department all together - but again - took over a year. She is just waiting to see if her dept. is gonna get sliced and diced again. It happens. Terrible for each individual if it happens, but most seasoned bank employees are fully aware - it sure can happen.
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Old 07-22-2008, 10:38 AM
 
Location: Oz
329 posts, read 1,271,421 times
Reputation: 201
Quote:
Originally Posted by Miker2069 View Post
It took an entire 3 minutes for that article to be published and then to be posted here. Wow. Ken Thompson was right, 2008 is a pretty bad year!

The sky IS falling
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Old 07-22-2008, 10:43 AM
 
Location: Crown Town
2,742 posts, read 6,749,693 times
Reputation: 1680
We’ve had this discussion a million times. Folks don’t seem to get that the big banks in Charlotte employ people “worldwide”. Wachovia has thousands of people in cities outside of Charlotte; I think about 6,000 each in places like Atlanta and Philly.

The best thing for Wachovia now is that they get it all out in the open. And for all the negative ninnies watching Wachovia’s stock price…

”Wachovia Helps Boost The Street”
Article: Wachovia Helps Boost The Street - Forbes.com

And fyi, both big bank's will more than likely announce more layoffs prior the end of the year, look for announcements in the 4th quarter....but they do that every year at that time, so get all your "ooo's and ahh's" out now.
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Old 07-22-2008, 10:46 AM
 
Location: Oz
329 posts, read 1,271,421 times
Reputation: 201
Quote:
Originally Posted by anifani821 View Post
Yep. And having lived there (KCMO) I knew people who got laid off - and many of them got re-hired at Sprint in different divisions - and not just once - several times. My next door neighbor was in marketing management - her whole dept. got whacked (from cell division) and then they all applied (to land-line division, I guess) and most got their jobs back - but it took over 10 months. In any case, it didn't greatly impact the economy - and the region is very similar to CLT . . . as far as city size (altho KCMO's MSA may be larger).

And now, here in CLT, my next door neighbor works for BofA (has, for over 20 years). She has gotten laid off several times - and then re-hired later in a different department all together - but again - took over a year. She is just waiting to see if her dept. is gonna get sliced and diced again. It happens. Terrible for each individual if it happens, but most seasoned bank employees are fully aware - it sure can happen.
I was going to mention the re-hire part - but I didn't know if it would be applicable in the banking world. It is an on-going news story here. Sprint is laying off workers - starts to sound like a broken record. Point is large layoffs have been happening in different sectors throughout the last 15 - 20 + years or more probably, even during a strong economy - so although this is not a positive for Wachovia and the Charlotte area - overreacting to how bad of a sign it is - is probably unwarranted - no need to panic
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