Serious Shitting The Bed Time

[wykikitoon 21486]

As some of you know I am a Structural Engineer. I work for one of the "big boys" and so far I have watched smaller companies fold day by day. My old company I left in August is closing in Jan. I am rather glad I got out in time, but with the slow in work there I decided to jump rather than get pushed.

 

Its a scary scary time at the moment for the construction industry. The first company I worked for got rid of four contarct lads last week and there is more in the pipeline in the new year. In Oct we got rid of two contract lads scary. Today our Director mentioned due to the down turn in work and failure to win a certain contract two people in one dept got made redundent today, he did genually looked chocked when he was telling us about it.

 

If I am honest, the Consulting side of things neeeded something like this to get rid of the large chunk of contract lads (and some lasses) who are total gash and are creaming money for doing fuck all. But now its getting scary a little for myself. I do have certain insurances etc and I do have savings, but taht will only last a certain time wont it.

[Matty 0]

 

 

I thought this was going to be a self help guide to shitting the bed problems....

[Happy Face 29]

3600 pre christmas voluntary redundancies at wor place, to be followed by 1500 forced redundancies in the new year.

 

Part of a long term plan to lay off 24,600 people.

 

We got our "Happy Christmas" email from the bosses today.

 

Edited December 18, 2008 by Happy Face

[NJS 4446]

I admit to not knowing much about economics but I still can't see why there has to be a recession. If its a question of banks not extending credit to companies then they shoulld be forced to do so - possibly via NR and the other "nationalised" ones.

 

Specifcally for construction etc we should do what the Yanks have done and bring forward government projects.

[wykikitoon 21486]

I admit to not knowing much about economics but I still can't see why there has to be a recession. If its a question of banks not extending credit to companies then they shoulld be forced to do so - possibly via NR and the other "nationalised" ones.

 

Specifcally for construction etc we should do what the Yanks have done and bring forward government projects.

 

 

Contractors lend money to build before the sell a lot. The banks cant lend. That simple really

 

We worked with a huge contractor here and one of their companies had to raise £200m in two days to pay debts off. This contractor owed us £200k, when we came to recovering our money it was like a mob takeover. 4 blokes in suits and a cheque and H&S documents over, like it was a mafia killing!

 

We are working on a load of goverment stuff, but there is only so many comapnies who can do them. I.e not everyone can do it.

Edited December 18, 2008 by wykikitoon

[Happy Face 29]

I admit to not knowing much about economics but I still can't see why there has to be a recession. If its a question of banks not extending credit to companies then they shoulld be forced to do so - possibly via NR and the other "nationalised" ones.

 

Specifcally for construction etc we should do what the Yanks have done and bring forward government projects.

 

But companies don't actually want to borrow money either if they have no work coming in. The government can't force that.

[wykikitoon 21486]

3600 pre christmas voluntary redundancies at wor place, to be followed by 1500 forced redundancies in the new year.

 

Part of a long term plan to lay off 24,600 people.

 

We got our "Happy Christmas" email from the bosses today.

 

 

 

Thats pants HF man, thats a LOT of poeple going

[Happy Face 29]

3600 pre christmas voluntary redundancies at wor place, to be followed by 1500 forced redundancies in the new year.

 

Part of a long term plan to lay off 24,600 people.

 

We got our "Happy Christmas" email from the bosses today.

 

 

 

Thats pants HF man, thats a LOT of poeple going

 

I'm being sensationalist like. 24,600 worldwide. Only 3500 in the UK. Still, 20% of the work force.

[wykikitoon 21486]

3600 pre christmas voluntary redundancies at wor place, to be followed by 1500 forced redundancies in the new year.

 

Part of a long term plan to lay off 24,600 people.

 

We got our "Happy Christmas" email from the bosses today.

 

 

 

Thats pants HF man, thats a LOT of poeple going

 

I'm being sensationalist like. 24,600 worldwide. Only 3500 in the UK. Still, 20% of the work force.

 

Thats still a fucking lot man!

 

Our CEO was nearly crying a month ago when we had to lay 30 people of throught the UK!

[Meenzer 15865]

But companies don't actually want to borrow money either if they have no work coming in. The government can't force that.

Exactly - and if the end consumer can't finance their "buying" with cheap credit any more, there's a trickle-down effect that ultimately fucks the entire economy.

[Happy Face 29]

I admit to not knowing much about economics but I still can't see why there has to be a recession. If its a question of banks not extending credit to companies then they shoulld be forced to do so - possibly via NR and the other "nationalised" ones.

 

Specifcally for construction etc we should do what the Yanks have done and bring forward government projects.

 

You might not think you know much about economics, but that's exactly what the most recent recipient of the nobel prize for economics recommends, another New Deal..

 

http://www.nytimes.com/2008/11/10/opinion/...ugman.html?_r=1

[NJS 4446]

The banks cant lend. That simple really

 

They can they just don't want to - there has been no reduction in interbank dealing as far as I can see.

 

It's over-reaction - being stung by one type of deals based on toxic debt does not mean you shouldn't still lend to "safe" people.

[NJS 4446]

another New Deal..

 

I studied the new deal in history and always wondered why it was seen as one-off - though perhaps the war covered up the aftermath.

[Fop 1]

But companies don't actually want to borrow money either if they have no work coming in. The government can't force that.

Exactly - and if the end consumer can't finance their "buying" with cheap credit any more, there's a trickle-down effect that ultimately fucks the entire economy.

 

Aye, that's the whole problem, the last 10 years have been just like a heavy drinking session, with (most) everyone convinced that hangovers no longer occur because they swapped their main drinks.

 

Technically there's no reason it couldn't still plough along (even with the hangover), but as the whole thing is built on confidence (or thin air, effectively), it doesn't take much to seize things up.

 

 

 

Brown's no more boom and bust looks more and more ridiculous with each passing day, be interesting to see what happens if mass deflation does set in (although it's probably needed frankly for long term benefits).

[Happy Face 29]

3600 pre christmas voluntary redundancies at wor place, to be followed by 1500 forced redundancies in the new year.

 

Part of a long term plan to lay off 24,600 people.

 

We got our "Happy Christmas" email from the bosses today.

 

 

 

Thats pants HF man, thats a LOT of poeple going

 

I'm being sensationalist like. 24,600 worldwide. Only 3500 in the UK. Still, 20% of the work force.

 

Thats still a fucking lot man!

 

Our CEO was nearly crying a month ago when we had to lay 30 people of throught the UK!

 

The disappointing thing is we aren't even struggling. In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

[wykikitoon 21486]

But companies don't actually want to borrow money either if they have no work coming in. The government can't force that.

Exactly - and if the end consumer can't finance their "buying" with cheap credit any more, there's a trickle-down effect that ultimately fucks the entire economy.

 

Aye, that's the whole problem, the last 10 years have been just like a heavy drinking session, with (most) everyone convinced that hangovers no longer occur because they swapped their main drinks.

 

Technically there's no reason it couldn't still plough along (even with the hangover), but as the whole thing is built on confidence (or thin air, effectively), it doesn't take much to seize things up.

 

 

 

Brown's no more boom and bust looks more and more ridiculous with each passing day, be interesting to see what happens if mass deflation does set in (although it's probably needed frankly for long term benefits).

 

 

I think deflation is setting in somewhat, thats what we dont really need.

[Meenzer 15865]

The disappointing thing is we aren't even struggling. In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

And you bought EDS, you buggers. They used to be our customer.

[NJS 4446]

In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

 

If it hadn't been for Lehmans and Iceland, we would have made record profits this year - this low confidence is a bitch.

[Jill 0]

The disappointing thing is we aren't even struggling. In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

And you bought EDS, you buggers. They used to be our customer.

 

And now EDS are laying people off.

[Happy Face 29]

The disappointing thing is we aren't even struggling. In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

And you bought EDS, you buggers. They used to be our customer.

 

HP bought us. I used to be your customer.

[Fop 1]

The banks cant lend. That simple really

 

They can they just don't want to - there has been no reduction in interbank dealing as far as I can see.

 

It's over-reaction - being stung by one type of deals based on toxic debt does not mean you shouldn't still lend to "safe" people.

 

Don't subscribe intelligence to banks, they are just as much sheep as anyone else, just sheep that can seriously fuck everyone up when they charge headlong off a cliff.

 

 

Only now instead of being drunkenly carried away with money for all and mass profits for us, they are sat with a massive hangover paranoidly staring at anyone that comes near them or looks at them a bit funny.

[Meenzer 15865]

The disappointing thing is we aren't even struggling. In the most recent financial quarter, we saw revenue increase 19% to $33.6 billion, with operating profit up 4% to $2.7 billion. It's all pre-emptive.

And you bought EDS, you buggers. They used to be our customer.

 

HP bought us. I used to be your customer.

A-ha.

[Fop 1]

But companies don't actually want to borrow money either if they have no work coming in. The government can't force that.

Exactly - and if the end consumer can't finance their "buying" with cheap credit any more, there's a trickle-down effect that ultimately fucks the entire economy.

 

Aye, that's the whole problem, the last 10 years have been just like a heavy drinking session, with (most) everyone convinced that hangovers no longer occur because they swapped their main drinks.

 

Technically there's no reason it couldn't still plough along (even with the hangover), but as the whole thing is built on confidence (or thin air, effectively), it doesn't take much to seize things up.

 

 

 

Brown's no more boom and bust looks more and more ridiculous with each passing day, be interesting to see what happens if mass deflation does set in (although it's probably needed frankly for long term benefits).

 

 

I think deflation is setting in somewhat, thats what we dont really need.

 

Short term, yes. Long term, I'm not so sure. You'll never kick a crippling drugs habit without some pain, and the last 10 years have been rather like a drugs habit.

[wykikitoon 21486]

Short term, yes. Long term, I'm not so sure. You'll never kick a crippling drugs habit without some pain, and the last 10 years have been rather like a drugs habit.

 

Youre coming out with some right sayings recentlly Fop

[Meenzer 15865]

Well that's it. If we could just persuade everyone to take the hit now, rather than stringing it out, we could start recovering sooner. But instead we get measure after measure to prolong any kind of positive movement, so the downside will be even longer and tougher than it needed to be. Ho hum.