These couple of rallies are looking better, that's for sure. It was a real gutcheck watching my old reliables dropping like flies. Not buying just yet but I sure am relieved. My losses are halved at the moment.
AZers and the economic meltdown
- Thread starter TATE
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These couple of rallies are looking better, that's for sure. It was a real gutcheck watching my old reliables dropping like flies. Not buying just yet but I sure am relieved. My losses are halved at the moment.
I got fired today, along with half of my coworkers. My company is a small technology startup. The investors pulled out due to the Corona. The few remaining employees are all switching to part time.
I am real sorry to hear that brother, I'v always thought you seemed like both a great and a rather smart gentleman. If anyone can find something they can do online or a different route, I would expect it would be you. Do you have any plans, I enrolled in a mini-semester at my local university to pass the time.
That is not good, are their other opportunities on the horizon. Out in AZ their are place still hiring.
Friends daughter was "fired" from Starbucks, apprently her location cut staff in half.
Thanks boys. I have about a year of rent money and living expenses in my bank account before I have to go into my long term investments. So I should be ok. I don't think anyone is hiring mechanical engineers right now. I will wait it out a bit and see what happens. I asked my boss if I can come in a day or two a week to play with my shop tools and help here and there (unpaid) and he said ok. Although I have a feeling the entire company will fold in a couple months.
So sorry to hear that. Things may look bad now but I can't tell you how many times in my life setbacks turned out to have long term positive results. If my previous company hadn't left California, I wouldn't have bought the company I now have owned for 36 years. I think you're going to bounce back strong.
Thanks, Brian. We're a "boutique" shop, so we are right sized and lean. A lot of our operational stuff (like account custody services) is outsourced to a large firm that we are associated with, so we are still in decent shape (although, cash reserves are tight).
Eric >oversharing
Saddened by this news.
Wishing you better times ahead. I think the technology sector will rebound faster than many areas of our damaged economy, and that you'll be OK down the road, but I know this will be a difficult episode for you, and I wish you and yours courage and strength as you navigate these tough waters.
Be safe, be well, and be strong.
I've lost what I consider a small fortune in the markets but I suppose that means compared to many I had a largish fortune (I wouldn't call it that) and still have a reasonable amount left. If I wasn't a few years from retirement I'd not be concerned but the timing was not good for me. I wasn't fully in the market so it could be much worse. My wife and I both have jobs and there is only a tiny chance that will change.
So we'll be just fine. I sent my hair cut gal an anonymous card with $200 in it today, she's paycheck to paycheck most likely and not working at all due to state mandated closure. Felt a little weird searching out her home address on the public tax records but her first name is spelled in a unique way and I knew the general area she lives in...I think she'd understand.
Sent from the future.
So we'll be just fine. I sent my hair cut gal an anonymous card with $200 in it today, she's paycheck to paycheck most likely and not working at all due to state mandated closure. Felt a little weird searching out her home address on the public tax records but her first name is spelled in a unique way and I knew the general area she lives in...I think she'd understand.
Sent from the future.
very sorry to hear this.
stay safe and here's hoping that after corona you'll end up with an even better job. :thumbup:
We just pulled all job openings from public eyes.
I own a tattoo shop here in Chicago so we are closed, no income. I am no dummy so I have savings to help for awhile. Been through 9/11, 2008 etc so I was well prepared for this. In my IRA I got a product that has zero loss guarantee but caps profits at 5%. My IRA guy thought I was crazy, telling me I was too young at 47 to be getting a product like that. This is specifically why I did that.
And to everyone please stay positive and have faith that life will go on. Hopefully a year from now we can all look back and laugh.
And to everyone please stay positive and have faith that life will go on. Hopefully a year from now we can all look back and laugh.
My employer is a supplier to almost every car, light truck, boat, golf cart, air conditioner and heavy truck manufacturer in North America. We ship weekly or daily...in many cases hourly to them from a dozen of our plants. Less than 5% of our customers are operating and receiving parts.
We have temporarily laid off thousands. Many are UAW and will be just fine, others with hopefully at least collect unemployment....that system is going to see a nice spike compared to 2019.
It's really bad. If it is short term it's just a blip. If long term it will be the start of something few alive today have ever seen. Monday morning quarterbacks will no doubt question if we should have just let it sweep through like wildfire and not closed down anything, the old sacrifice for the long term good of the young masses theory. ..but how could anyone ever make a call like that?
Sent from the future.
We have temporarily laid off thousands. Many are UAW and will be just fine, others with hopefully at least collect unemployment....that system is going to see a nice spike compared to 2019.
It's really bad. If it is short term it's just a blip. If long term it will be the start of something few alive today have ever seen. Monday morning quarterbacks will no doubt question if we should have just let it sweep through like wildfire and not closed down anything, the old sacrifice for the long term good of the young masses theory. ..but how could anyone ever make a call like that?
Sent from the future.
You did the Boy Scout thing being prepared. :thumbup:
I'm on the verge of being financially ****ed,lol, on paper at least lost a ton
is what it is
sliver of hope if things get back on track sooner than later
i have my brains, health and family.....and pool
still blessed, will recover!
hope the best for all!
is what it is
sliver of hope if things get back on track sooner than later
i have my brains, health and family.....and pool
still blessed, will recover!
hope the best for all!
Temporarily laid off from work. Trying to find a new job. First time I've been unemployed in my adult life (42). I have my health and I own my apartment, so it's not dire straits just yet, but if the real-estate market crashes hard, then I'll be in trouble, as I don't have a whole lot of savings. Most of my money went to pay off my home.
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if I could complain about one thing.....
no pro sports
that part is totally sucking
no pro sports
that part is totally sucking
Yes there are several moving stories on here stu and yours is one of them that really moved me . plus the ones that were laid off also.
As for me..well my financial crisis hit back when the housing boom went bust . several things happened during that time...a perfect storm you might say that resulted in me being homeless and sleeping in my truck for a while. Thankfully my 4 children were grown so i had no one depending on me and i never let them know what shape i was in. Pride i guess.
I knew 2 guys from the pool hall that commited suicide around a year or so apart when their bussinesse failed . what kept me going was resolve....my health...the serenity prayer and the fact that no matter how bad off i was there were people out there worse off than me. .
Today i am 65 and in decent health which i am thankfull for and a job that i could keep as long as i want ...as long as my employer stays afloat. I told my boss i wanted to semi retire when i hit 65. His response was to give me the work truck to drive every day and take it home at night plus a dollar hour raise. He didnt want me working part time lol. The raise was great but the 60 dollars a week i save on gas in my personal vehicle is nice also..
My boss is amazed that i outwork the guys we have that are half my age. I operated a 60 pound jackhammer all day long yesterday because i can run it better and longer than the 30 year old lazy asses we have. Mainly i run all the equipment like backhoes ..excavators and such. At the moment i could stay afloat for the next 3 months but regardless of my financial situation my priority is staying healthy and i wish the same for every one else.