I have for the last 14 years worked in the oil field in the natural gas compression/reclamation business.
I started as a tech, worked my way up to a lead tech, eventually got in the position to buy out the owner.
I employ 14 people right now with an average wage of $125,000 a year, I pay for their BC/BS Gold health care, pay production bonuses, match their 401K
I have a rather awesome team of people who just rock at what they do.
Because of a perfecta of events, oil dropped to where my clients shut their sites down and we are not needed for some foreseeable time.
I have shut my business down and will burn all the cash I have to pay my employees to do nothing until either the market gets better or I lose
This will last about 6 months until the money runs out...
Then my options are to sell the equipment I have for pennies on the dollar, go to bankruptcy and go from there.
I will live through this... I took my chances to take the business over and if it dies I will find something else to do to keep living.
Today however, I got a call from my lead tech wanting to teleconference with everyone.
They have all agreed to take a 50% pay cut so that we can as a company weather this and get back to work.
I agreed, hung up and cried like a little girl for a few hours.
The point of this OP...
Over 50% of all Americans are employed by small businesses like mine.
We contribute to 44% of all sales in this country.
We are 39% of this countries GDP.
We are the lifeblood of the country, we are the ones that keep the lights on.
We are the ones that have EVERYTHING on the line right now...
Simply because we took the risk, put ourselves out there and were willing to lose everything for a dream.
I'm tired of getting sniped on ATS because I'm obviously rich and this current situation doesn't effect me.
I don't have any real money... it's all tied up in my business which does not work without the employees..
This current sitruation effects the people that work for me, which is FAR more important than any of you here.
edit on 22-3-2020 by Lumenari because: (no reason given)