[deMolay]

Even the big guys are struggling. http://online.wsj.com/article/SB1257807 ... b_page_one

[shortonsense]

Even the big guys are struggling. http://online.wsj.com/article/SB1257807 ... b_page_one

Beat you to it by an hour. Aha!

http://peakoil.com/economics-finance/jo ... 89-30.html

[deMolay]

Sorry Shorty. Mods.

[shortonsense]

Sorry Shorty. Mods.

Do we even have a location for these sorts of general info type links? Maybe there is a common thread somewhere where we are supposed to put them? I dropped mine in somewhere else as an example, you made your own thread out of it, maybe these are organized somewhere and neither of us knows where?

[kpeavey]

There is such a place but you are too new to access it and you have not been voted in.

[shortonsense]

There is such a place but you are too new to access it and you have not been voted in.

Figures. Even PO has TPTB....

[kpeavey]

And they are all out to get you!

[eastbay]

kpeavey, did you see the article on the pending collapse of Mexico in the special TPTB section? Shocking, huh!

[kpeavey]

Ya, I was particularly impressed with the accuracy of immigration and refugee figures. Gonna be a shame shooting all those people.

[eastbay]

That's the plan, it appears. I was wondering when many of those former East German guards would be used again. Now we know.

[seldom_seen]

That article is scary. These people lost their jobs but didn't make any adjustments to their spending.

Reality hit, but it never penetrated their thick, crusted shell of cornucopia.

[timmac]

From article ;
Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He's turned each down in hopes of landing a position comparable to what he held before.

Now that they are almost broke I bet he wished he took those offers, If I was a laid off employee I would take most any job till that right one comes along, but some folks just are to snobby for this..

[Prince]

From article ;
Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He's turned each down in hopes of landing a position comparable to what he held before.

Now that they are almost broke I bet he wished he took those offers, If I was a laid off employee I would take most any job till that right one comes along, but some folks just are to snobby for this..

Unfortunately, it isn't this simple. For starters, when one lives on a perpetual salary of $200,000/yr, such as Mr. Joegriner, it is difficult to adjust to a lifestyle with a job that pays significantly less than that. One may argue that a family does not "need" $200,000 to survive, that the average family lives on much less than this amount. However, you're lifestyle "needs" are subject to your income and surroundings; thus, in this case, his lifestyle (perhaps through a hefty mortgage, car loans, entertainment, kids' private school, etc) relies on certain level of income. For the reasons listed here, however, this is why I've always been an advocate of living well below your means, so that you don't get stuck in these socioeconomic traps, where you're expected to live the high-life (or low-life) dependent on your income level.

There is more to this reasoning, though, and I can sympathize. If someone takes a job that pays considerably less (likely with a lower job title and less responsibility), then he find it extremely difficult to get a company to hire him in a higher role somewhere down the road when/if the economy turns around. Companies will look at your experience and think "geez, you must have been a pretty bad ____ if your company let you go and all you could do afterward was manage a Best Buy. We'll pass." If you're in a position where you have a stable job with a good income and have a lot of visibility and knowledge, I would try to avoid taking just any job that comes along, unless you absolutely need the money to support yourself or your family, especially if you want to retain that kind of prowess that you once enjoyed somewhere down the line.

I'm kind of facing this at the moment. There are rumors that our group will be cut by the end of the year, early next. Some of us will be let go, and others will be able to find work in other groups. Unfortunately the group where many of us would like to go and logically fit is on a strict hiring freeze. There are other options with other groups that are much lower on the food chain (our salary would stat the same, though), but once we accept a position like this, it will be very difficult to move up the ladder down the road.

[MD]

Even the big guys are struggling. http://online.wsj.com/article/SB1257807 ... b_page_one

Wow...you would really think that people that have managed to land $100k+ jobs would have more sense.

[Maddog78]

I make as much money as that bank CEO did.
Not bragging, just a fact.
His spending habits shock me!
Same as that marketing director.
She only had 20,000 saved and she kept pissing it away like a drunken sailor.

My business is in a big downturn right now and I could possibly be out of a job next year.
I have bought nothing major for 2 years now in anticipation.
If I get laid off I could make it for a good 5 years without too much problem.
So many of my neighbours and friends live like these people.
Have to have the latest and the greatest and are not willing to save up for it.
Always in debt and living pay cheque to pay cheque.
Some people never learn.

[eastbay]

Even the big guys are struggling. http://online.wsj.com/article/SB1257807 ... b_page_one

Wow...you would really think that people that have managed to land $100k+ jobs would have more sense.

People who make the living standard transition immediately have little trouble down the road. Circle the wagons immediately and put that nest egg completely off limits and you can live quite happily on a much reduced income. The ones living the phantom dream by burning their life savings suffer most.

Strangely, it's seems to be the ones in the $100,000 $200,000 income range that never follow this common sense advice. They have this sense of 'it's what we are' and it's tough for many of them to readjust. But after losing their well paid jobs and losing their savings they will readjust very harshly, no doubt. And all they had to do to be happy was to start the reduced living right away instead of .....

[buddylee]

http://finance.yahoo.com/career-work/ar ... egotiation


I'm sure most of these people fell into the "I'll find work in a few months" trap, only to still be unemployed a year later... I found this a little tough to read, but maybe I'm a softy (I know it's their own fault... but probably not their fault that they got layed off). Although, they should consider themselves lucky they got severance... most people I know, if they get layed off, that's that.

[Maddog78]

http://peakoil.com/economics-finance/li ... 56652.html

[buddylee]

Good show, sorry.

[Livewire713]

They spent $250 a month on a cleaning lady

$250 a month on a cleaning lady and they were both unemployed....You have to be kidding me. I don't feel sorry in the least for these morons. Well they just learned a lesson the hard way. They should of down sized while they still had money. Now they wont have a thing.