Has current recession impacted your life significantly?

[DannyR]

My wife was told this past friday that her job is likely to be terminated due to budget cuts. We both work at a university, and not only has the endowment taken a significant hit (as have pretty much most investments for people), but tuition payments are down as more students will be qualifying for financial aid. Ergo, budgets are being cut across the board.

Anybody else taking a direct hit? (aside from almost all of us seeing our retirement accounts down significantly)

[LiberalNation]

My dad has lost his bonus for the year and got a wage cap. He got like a $35,000 bonus last year so that is kind of a hit.

Moms going down to a 4 day work week for march. They both work for jap auto owned companies. Toyota and Honda.

Besides that I haven't felt it.

[Mr. P]

In the bankruptcy business..appointments are out to mid March.

[PostmodernProphet]

real estate lawyer in a market without real estate sales......yeah

[Yurt]

real estate lawyer in a market without real estate sales......yeah

try collections....big business out here

[Mr. P]

try collections....big business out here

:laugh2: I got yer collections right here...Chapter 7 or 13? :poke:

[PostmodernProphet]

try collections....big business out here

I feel guilty charging people for wasting time.....judgments make lousy wallpaper....

[Mr. P]

I feel guilty charging people for wasting time.....judgments make lousy wallpaper....

Indeed..but they're still done everyday. Some are even successful.

[Yurt]

I feel guilty charging people for wasting time.....judgments make lousy wallpaper....

it is a contract, you don't pay, you breach that contract. you get a judgment if you can't show that you did not breach that contract.

judgments are serious. maybe the loan companies should think about things with all this "bailout" "spending"....

[Yurt]

:laugh2: I got yer collections right here...Chapter 7 or 13? :poke:

so you don't do corps....

[Mr. P]

so you don't do corps....

No C-Corps, just S and LLC.

[LiberalNation]

ewwww, all these lawyers in one place.

[avatar4321]

try collections....big business out here

I keep getting asked if i do collections. I havent really expanded past my current job right now. but it might be something to look into.

[Yurt]

I keep getting asked if i do collections. I havent really expanded past my current job right now. but it might be something to look into.

attorney fees are in the K, almost everytime

[crin63]

I was finally able to buy a home here in Los Angeles county due to the significantly decreased property values.

[Kathianne]

Lots of pressures on Catholic Schools, 2 are closing by ours. Another 2 are combining and laying off staff, obviously. Most of our families are workers or owners of construction related businesses, they are getting hit, hard. Tuition for 2 children is nearing $6k per year, that's a lot when families must look at what to cut out of their budgets.

I know we're open for next year, our contract calls for 3% increase, the principal said we can 'donate' it back, I can't do that.

[Mr. P]

Lots of pressures on Catholic Schools, 2 are closing by ours. Another 2 are combining and laying off staff, obviously. Most of our families are workers or owners of construction related businesses, they are getting hit, hard. Tuition for 2 children is nearing $6k per year, that's a lot when families must look at what to cut out of their budgets.

I know we're open for next year, our contract calls for 3% increase, the principal said we can 'donate' it back, I can't do that.

Will 3% back insure the school opens the following yr? If so I'd consider it, 3% isn't that much and donating it back beats unemployment. It may also be a tax benefit to you.

[Kathianne]

Will 3% back insure the school opens the following yr? If so I'd consider it, 3% isn't that much and donating it back beats unemployment. It may also be a tax benefit to you.

School is already opening next year, done deal. Due to cutbacks, I won't be doing 'detention lunch', meaning I've already been cut $1500 in salary for next year. That is way more than the 3% and means I'll need to work part time. Very dicey times.

[Mr. P]

School is already opening next year, done deal. Due to cutbacks, I won't be doing 'detention lunch', meaning I've already been cut $1500 in salary for next year. That is way more than the 3% and means I'll need to work part time. Very dicey times.

I know, I read that..I was referring to the next yr.

It's time to tighten yer gurgle Myrtle. Not being flip about the situation just realistic.

[rockdoc]

:laugh2: I got yer collections right here...Chapter 7 or 13? :poke:

Not so easy after the change in the law, maybe?

[Mr. P]

Not so easy after the change in the law, maybe?

Much more difficult now but doable by most everyone. There is talk of changing the laws back which I oppose, the old laws allowed abuse.

[Kathianne]

Not so easy after the change in the law, maybe?

Welcome! Which changes are you referring to? BTW, there is an intro thread (http://debatepolicy.com/showthread.php?t=676&highlight=introductions) if you'd like to say hello.

[crin63]

My wife is basically a volunteer at our Christian school. She has been teaching there for 10 years as a volunteer. Our school charges $3000/year per student here in Los Angeles and it just covers our operating expenses. Parents have to pay extra for sports and anything other than academics.

We are discussing opening a business in the next year which means she won't be able to keep working there if that becomes necessary. There probably isn't anyone to take her spot so we would have to close down that part of our school which is kindergarten/first grade.

[Classact]

We are at about 15% unemployment here at this end of the island because of our major employers being Hewlet Packard and some of the international drug manufactures. HP is laying off thousands at a time and many of the drug companies have expiring patents and are simply closing as generic companies open some place else in the world. My wife works for a private company that services and installs automated packageing machines for the drug companies and business is really good this year, that's directly related to a sideline of specialty of shutting down automated systems of factories.

I've noticed shortages of name brand items availability in grocercy stores and the sales flyers that used to be four pages are now two pages. The highways are full of new cars, the theaters are full and overflowing and you can't hardly find a parking spot in the mall where Walmart is located after 10:00A M to closing... don't know where everyone is getting the money but for the most part things aren't that bad other than private school expenses are rising.

[Trigg]

One good thing about working in health care, people continue to get sick.

Hubby and I are doing just fine. My mom however works in real estate and she's down to 4 hours a day and my mother-in-law just got layed off. She isn't upset though since she wanted to retire anyway, so she's waiting until unemployment runs out then she's applying for social security.

[actsnoblemartin]

I was finally able to buy a home here in Los Angeles county due to the significantly decreased property values.

good for you bud :dance:

[crin63]

good for you bud :dance:

Thanks Martin! We have had friends over every week since we moved in the last week of December. The biggest group we had over was 50 people. I think we're gonna take a couple weeks off.

[jimnyc]

We're definitely feeling it here in NY. Taxes have increased across the board which made an immediate impact. But the part that hurt was my wife's company denying everyone bonuses this year, even though they had a profit of 1.8 billion last year. She took in more money for the company than she did last year, when she received a bonus of $140k. Although not under contract, so there is no recourse, it's fairly known that the bonuses are "considered" part of one's income for the year and counted upon.

Many companies are following the same route as hers, which is to conserve money even when profiting.

[Mr. P]

We're definitely feeling it here in NY. Taxes have increased across the board which made an immediate impact. But the part that hurt was my wife's company denying everyone bonuses this year, even though they had a profit of 1.8 billion last year. She took in more money for the company than she did last year, when she received a bonus of $140k. Although not under contract, so there is no recourse, it's fairly known that the bonuses are "considered" part of one's income for the year and counted upon.

Many companies are following the same route as hers, which is to conserve money even when profiting.

Sure does encourage employee loyalty doesn't it. Problem is folks will bend over and take it in this economy...what choice do they have, they got em by the short hairs. It's disgusting how companies treat their productive employees these days.