So who is at risk of losing their jobs (insurance, real estate, credit)
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besides the ones in the financial/real estate and insurance industry, who else? Will strong companies like Pepsico, GE & IBM suffer or will those jobs be relatively safe? I am sure companies like Diageo/Guniness and other liquor companies will see an increase in sales since people will be drinking themselves into a depression.
Construction, especially new construction has been dead here too. I was just curious what kind of jobs will be lost, besides the obvious. My dad is into construction-he has jobs lined up until Dec but he usually gets slow in the winter anyway. Not sure how bad things will be in the spring-maybe I can finally get him to put my walkway in
Nothing and I mean nothing is off limits. Everything from small mom and pop operations to Federal government jobs. Once uncle sam realizes it has lost its tax base, then the layoffs for federal employees will begin. Once the repos trickle into local property taxes, the muni jobs will go too. Then muni and treasury funds will fail. We are doomed people, bailout or not. Buy canned foods and amo, you're going to need it.
All the big corporates have been shipping their white collar work offshore for several years now.
Being multi-national is what has been enabling them to report double digit profits these past few years. Details show that the bulk of their profits are NOT coming from the US
besides the ones in the financial/real estate and insurance industry, who else? Will strong companies like Pepsico, GE & IBM suffer or will those jobs be relatively safe? I am sure companies like Diageo/Guniness and other liquor companies will see an increase in sales since people will be drinking themselves into a depression.
Credit is tight. As I mentioned on other posts, Heartland walked away from the table on 7 ethanol plants. They couldn't get financing for those projects.
11 ethanol plants under construction have ceased construction because credit has dried up.
CitiGroup down-graded 123 ethanol plants.
This is instructive, because it shows how companies operate. The ethanol plants buy corn on credit, keeping their cash to pay operating costs and wages. They produce ethanol from the corn and sell it, then use the cash to pay off their debts and the rest goes back into the operating and wage funds.
With little or no credit, the ethanol plants can't buy corn unless they pony up cash, and like the Dot.coms, most have no cash reserves (when buying stocks that is the over-riding factor -- if at least 1/3 of their assets are not cash you don't buy the stock unless you're looking for a quick kill).
Some ethanol plants are slowing production and my understand is that a handful have ceased operation. That means a shortage of ethanol and you might see gasoline prices spike here in the next 30 to 60 days.
This would effect plants that make corn syrup out of corn, and you'd see food prices spiking because of shortages, plus any food processing plants that use corn flour, corn starch or corn meal will have cash flow problems and shortages in production, driving food prices up.
Excepting maybe the defense industry, there's probably little over-time now and some facilities may be cutting back production or start laying off shifts.
everyone will suffer regardless of industry. Maybe you won't exactly lose your job but you sure as heck won't see that promotion and your pay raises will probably be lower than you expected. If you are looking for a job, you're gonna have a hell of a time finding one.
It affects everyone, you can't escape
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