posted on Oct, 7 2008 @ 09:40 PM
reply to post by spacedoubt
Yeah, I build dynamic braking systems for locomotives. Trains are being purchased as a cheaper means of cross-country transportation. And they are
being purchased globally for freight and passenger. I have done the numbers and our last two ordrs will be complete in two weeks, our standard system
is built on a supply of 10-20 units and we do have an order of five. That is 2 days work. So by the numbers all orders for 2008 will be complete by
So far there has been a layoff of all workers that had not completed their probationary hiring time. Last week the owner gave a "tour" of the plant
to some visitors in suits. Followed by the head engineer giving a similar but more detailed question and answer tour. This was not a "sales tour" to
a customer as not even Caterpiller (working on a prototype) recieved this kind of tour.
Mood from even the more conversational management is somber and quite. There were recent meetings with salaried staff with the 401K representative.
Usually this is followed by hourly staff meeting with the rep, not this time.
We have been given the entire week of Thankgiving off without pay. There are postings of Voluntary Leave of Absence to anyone wishing to take unpaid
I would say that the handwriting is definately on the wall...there will be a large layoff, closure or sale of the factory or combinations thereof.
So while I agree with Choronzon that money spent eventually filters through the economy, my concern is that giving money to the irresponsible
financial industries is not going to help the people that actually run the economy by spening their earnings.
That is why I was opposed to the Bailout Bill. The $700B would have been far better served in subsidizing oil to drive the price of fuel down to
reduce transportation costs in turn reducing item prices in retail and reducing household expenses to incourage spending via retail, vacation
hospitality and visiting attractions (amusement parks, movies, sporting events) and with a bit of luck investment and entrepreneurship to create new
To me, the only logical way to rebuild an economy is from the local level up. Not by expounding consumer fears with a trickle-down from a field of
industry that mostly does not distribute on a local level. I understand the fear of the banks not lending and the problems that it causes. But by
having money in the hands of the many it quickly enters the banks via personal and business deposits.
To my view, the bailout just killed discresionary spending as consumers now have a higher tax rate coming on top of other rising expenses to contend
with as well as fear of unemployment due to market instability.