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oh my. What I find disturbing is that VERY PROFITABLE companies are doing layoffs. Why? Because they're 'afraid' of the economic downturn. They don't have to do layoffs...they have great cash reserves, sales are fine, profits are good...and yet they are LAYING PEOPLE OFF! What that tells me is that the exec teams do not know how to manage the business, do not know how to forecast well, are perhaps greedy, and are basically not doing a good job, because if you have to run a company like it's a bulimic person (binge/purge binge/purge) then something is very, very wrong, IMHO.
oh my. What I find disturbing is that VERY PROFITABLE companies are doing layoffs. Why? Because they're 'afraid' of the economic downturn. They don't have to do layoffs...they have great cash reserves, sales are fine, profits are good...and yet they are LAYING PEOPLE OFF! What that tells me is that the exec teams do not know how to manage the business, do not know how to forecast well, are perhaps greedy, and are basically not doing a good job, because if you have to run a company like it's a bulimic person (binge/purge binge/purge) then something is very, very wrong, IMHO.
While it's prudent to plan and prepare for an economic downturn, I also fear the overreaction of some people, thereby compounding the problem. My spouse's organization is a non-profit with a substantial cash reserve for just this sort of thing. Yet, their management is slashing budgets willy-nilly without any real data or solid budget projections to justify their cutbacks. They appear to have become completely irrational about it all - even cutting programs that generate revenue and pay for themselves.
To think that this sort of behavior is being played out across the country is frightening.
That's a centralized way to deal with it, you know, let the politicians gamble, pick a few industries that they like the most and effectively start funneling domestic capital into them.
We might as well just debase our currency instead. Pursue a weak dollar policy, see if we can still export goods and services that people want. We might even make the transition to an exportable service-based economy, who knows. It makes a more even playing field than protectionism, don't you think?
oh my. What I find disturbing is that VERY PROFITABLE companies are doing layoffs. Why? Because they're 'afraid' of the economic downturn. They don't have to do layoffs...they have great cash reserves, sales are fine, profits are good...and yet they are LAYING PEOPLE OFF! What that tells me is that the exec teams do not know how to manage the business, do not know how to forecast well, are perhaps greedy, and are basically not doing a good job, because if you have to run a company like it's a bulimic person (binge/purge binge/purge) then something is very, very wrong, IMHO.
I agree with you here! Some companies are maintaining profits, yet they are firing way too many people. Caterpillar is an example. Their profits are down, but hey, they are still profitable. Why not restructure your work staff, make some of those positions part time, let some volunteer to rotate their shifts and so on. We are at a total loss of about 5 million jobs now since this mess began. Some analysts are estimating another 5 million this year and so far we are on pace to do that. If that really happens, it is going to be very bad. think about it. Obama's plan is estimated to create 2-4 million jobs in a perfect environment. That is just a dent in those who have already lost theirs.
So far we have faired very well in the Triangle. I hope we can keep plugging along for 12-18 months. If we do, when things turn around, we will surge massively in a rebound. Probably to the point we can't even keep up and this area will be come a gold rush boom town. Some people may not like that, but I predict that is what will happen. Again, IF, we actually do turn this mess around. That is a big IF in my book.
I agree with you here! Some companies are maintaining profits, yet they are firing way too many people. Caterpillar is an example. Their profits are down, but hey, they are still profitable. Why not restructure your work staff, make some of those positions part time, let some volunteer to rotate their shifts and so on. We are at a total loss of about 5 million jobs now since this mess began. Some analysts are estimating another 5 million this year and so far we are on pace to do that. If that really happens, it is going to be very bad. think about it. Obama's plan is estimated to create 2-4 million jobs in a perfect environment. That is just a dent in those who have already lost theirs.
So far we have faired very well in the Triangle. I hope we can keep plugging along for 12-18 months. If we do, when things turn around, we will surge massively in a rebound. Probably to the point we can't even keep up and this area will be come a gold rush boom town. Some people may not like that, but I predict that is what will happen. Again, IF, we actually do turn this mess around. That is a big IF in my book.
I have a friend who works at Caterpillar. They are struggling because their orders are down to a literal trickle. They've laid people off, eliminated their night shift, and the people who are still employed are being forced to take mandatory "vacations". What that really means is that they have been running on an "as-needed" basis, and when there aren't enough orders coming in to justify bringing people in to work, they just shut down until they have enough to justify it. Their orders are way down because the industry that they serve (construction, mainly) has slowed worldwide.
From what I've heard about Caterpillar, they have done as much as they can to restructure to keep people employed and still operate to make a profit. Those that were laid off were told that the company will do its best to rehire them when things improve to the point that they can do so.
But overall, I am sure there are plenty of other companies out there who are cutting the little guy, while the bigwigs at the top are still enjoying the good life. And quite honestly, that is disgusting.
Just read a report an hour ago, reality starting to set in folks. I'm actually becoming fearful, we are heading right smack into the firestorm now. The reprt said about 100,000 alone today lost their jobs and another 2 million will be out of work by spring. This thing is spreading even faster then I originally thought.
I'm just amazed at the lack of outrage by the American people. That being said, I think it is coming. The pressure cooker is building steam and people are getting angry with all this corruption, greed, lies and so on.
So many different groups contributed to our current problems, I wouldn't know where to start.
Maybe when this is all over we will call it "The Great Buck Passing." A decade of privatizing the gains, and socializing the losses.
Well said. I wondeirng the the same thing. To bring this on the local level, who should I direct my outrage at here in Raleigh? Based on Miamiblue's statements I certainly don't feel outraged over what Caterpillar has done. Sounds like they are working with the situation as best they could.
Well said. I wondeirng the the same thing. To bring this on the local level, who should I direct my outrage at here in Raleigh? Based on Miamiblue's statements I certainly don't feel outraged over what Caterpillar has done. Sounds like they are working with the situation as best they could.
So who should my outrage be directed at?
I'm outraged at you, North Raleigh Guy, for your lack of outrage. It is, quite simply, outrageous. Or, to use even stronger terms, outrageously outrageous.
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