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Jim_Witt
| | Posted on Friday, February 21, 2003 - 01:07 pm: | 
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My Original Post is located here.
The bad news:
I posted that puppy a year ago and just wanted to see what has transpired in the last year with anyone interested in replying? Work is still outrageously slow in my area and discipline as it has been in the last 30 months. The company I used to work for (the largest semiconductor and pharmaceutical contractor in the world) is fore sale, on C.O.D. with everyone and contemplating filing bankruptcy. As a matter of fact we are in worse shape today than we have been in my 34-year history. Nothing showing up on the horizon, except as noted below.
The good news:
For starters, the best news is I’m officially retired. Secondly, Intel based in Chandler Arizona announced a couple of days ago it will spend $2 billion transforming its’ Chandler plant (they call it FAB 12) into one of the most sophisticated chip factories in the world (of course I already thought it had that status) stating in January 2004. This project or transformation has been on the books for 2 years now but was on hold until now.
BTW, two billion isn’t a ton of money for a semiconductor spending but at least it will put about 4,000 folks back to work for a year or so (if they can hold out another 10 months). Plus who knows, maybe others in this industry will follow.
Cheers,
-JW: |
Jim_witt
| | Posted on Friday, May 16, 2003 - 01:07 am: |
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Total Bankruptcy Filings and Non-business Filings Break Records
May 15, 2003, Alexandria, Va. — More Americans filed for bankruptcy during the first quarter of 2003 than in any other previous quarter in history, according to data released today by the Administrative Office of the U.S. Courts. The 412,968 new cases filed during the first three months of 2003 are up 9.0 percent from the same period in 2002. Overall, bankruptcy filings rose 7.1 percent in the 12-month period ending March 31, 2003. Bankruptcy filings rose from 1,504,806 in the 12-month period ending March 2002 to 1,611,268 in the same 12-month time period in 2003. The previous highest total of filings for any 12-month period was in the 12-month period ending Dec. 31, 2002, with a total of 1,577,651. Total bankruptcy filings first broke the 1.5 million mark in the 12-month period ending March 31, 2002.
Research by the Federal Reserve indicates that household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households. A high level of indebtedness among households could lead to increased household delinquencies and bankruptcies, which could threaten the health of lenders if loan losses are greater than anticipated.
Largest Corporate Bankruptcies for 2001 and 2002
| Company | Bankruptcy Date | Total Assets Pre-Bankruptcy | Filing Court District | | Worldcom Inc. | 07/21/02 | $103,914,000,000 | NY-S | | Enron Corp. | 12/2/01 | $63,392,000,000 | NY-S | | Conseco Inc. | 12/18/02 | $61,392,000,000 | IL-N | | Global Crossing Ltd. | 1/28/2002 | $30,185,000,000 | NY-S | | UAL Corp. | 12/9/2002 | $25,197,000,000 | IL-N | | Adelphia Communications | 6/25/2002 | $21,499,000,000 | NY-S | | Pacific Gas and Electric Co. | 4/6/2001 | $21,470,000,000 | CA-N | | Kmart Corp. | 1/22/2002 | $14,600,000,000 | IL-N | | FINOVA Group Inc. | 3/7/2001 | $14,050,000,000 | DE | | NTL Inc. | 5/8/2002 | $13,003,000,000 | NY-S | | Reliance Group Holdings Inc. | 6/12/2001 | $12,598,000,000 | NY-S | | Federal-Mogul Corp. | 10/1/2001 | $10,150,000,000 | DE |
-JW:
(Message edited by jim_witt on May 16, 2003) |
Phillyblast
| | Posted on Friday, May 16, 2003 - 04:52 pm: |
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Jim,
I work in the utility industry, and I noticed Pacific Gas and Electric on the list - heard through a co-worker that they are closing up shop in Maryland and consolidating everyone back in the home office except where absolutely necessary as of 10/03. So it's either lose your job, or move to San Fran. My co. is a govt. owned utility and is facing dereg. as of Sept. - should be an interesting year for me. Luckily, my skills are transferable, but unfortunately, the tech sector doesn't look much better right now. |
Ezblast
| | Posted on Friday, May 16, 2003 - 06:07 pm: |
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Still a bunch of jobs here in ole SF - and we could always use a few more Buellers - lol -
Got Thump?! Just Blasting on the Dark side! EZ |
Jim_witt
| | Posted on Friday, May 16, 2003 - 06:41 pm: |
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Ya never know how bad it is until you're in the unemployment line and looking for a job (or you've ran out of unemployment and still haven't found a job).
California @ 6.6%
Pennsylvania down to 5.8 now
-JW:> |
Littledog1
| | Posted on Friday, May 16, 2003 - 07:11 pm: |
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EZ,
If Governor Davis has his way, there won't be any new jobs in California. It makes no sense to try to tax your way out of a slow economy. Davis in incapable of making the hard decissions and is well on his way to killing the Golden Goose (State?).
Mickey
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Ezblast
| | Posted on Friday, May 16, 2003 - 08:51 pm: |
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My opinion - Davis is incompetent - proven on how he handled the Energy Crises here. Still I note that the business in California is slow and that means belt tightning (last time I was unemployed it took me almost 8 months to find another job - right after 9-11) - yet here in SF the only real sign is the closing down of some very expensive restraunts - lol - between Sac to our right, San Jose/Silicone Valley below, and Napa to the North - we're a pretty busy city! Dodging traffic here takes some real ridding skill that or a death wish - SFis a top tenner in the number of pedestrians/cyclists/motorcyclists hit by another vehicle and 34 percent by public transportation - lol - theres good and bad points everywhere - housing here is the same as NYNY - so thats a warning - but jobs - like I said earlier - see the Craigs list - a great source!
Got Thump?! Just Blasting on the Dark side! EZ |
Phillyblast
| | Posted on Saturday, May 17, 2003 - 08:18 am: |
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EZ - thanks for the offer - SF would be coold, and I'd get a chance to look at my favorite fireman's license plate fading into the distance a lot more according to the latest dyno charts 
But I've lived in 5 states in the last 11 years, and I've reached the settling down point, plus I don't think my job is in jeapordy, just going to get fun with all the belt tightening. Looking at some cool projects right now and evaluating the possibilities of using GNU/Linux for them instead of proprietary Unix or M$, for instance. Not so much how to do more with less, but do more with the same.
Besides, my g/f is a Jersey girl, and she'd kill me if I moved again. |
Henrik
| | Posted on Saturday, May 17, 2003 - 10:53 am: |
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Yes she would Philly - and she'd do it Jersey Girl style too...
Henrik
(Jen seems like a tough cookie) |
Phillyblast
| | Posted on Saturday, May 17, 2003 - 05:11 pm: |
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Yep, and she'd have the dog bury me in the pool   |
Jim_witt
| | Posted on Sunday, October 05, 2003 - 10:18 pm: |
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Foreclosure rate on rise Valley-wide (meaning in Phoenix Arizona)
Catherine Burrough
The Arizona Republic
Oct. 5, 2003 12:00 AM
In the midst of the hottest housing market in Phoenix history, a record number of people are losing their homes to foreclosure.
People are caught living paycheck to paycheck. Laid-off workers can't find jobs. First-time buyers are too deep into debt. Homeowners are snared into bad refinancing deals. And some two-income families with expensive dream homes can't keep up.
The Valley homeowners struggling to pay their electric bills and living in constant fear of losing their homes no longer are just the financially vulnerable or working class living in west Phoenix or El Mirage. Like the economic woes, the problem has cut across lines to the middle class living in pricey new Chandler subdivisions and even to the wealthy with posh homes in Paradise Valley.
The number of people across greater Phoenix at least three months behind on their mortgages and in danger of losing their homes climbed a staggering 50 percent during the past two years, hitting a record 14,178 in 2002. The foreclosure rate is rising so rapidly that it's outpacing record increases in home sales and prices. So far this year, home foreclosures climbed an additional 10 percent.
"Too many Valley homeowners are living too close to the line," said Jay Butler, director of the Arizona Real Estate Center. "Wages haven't gone up, but insurance, health care and just about every other cost for a household has."
-JW
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Jim_witt
| | Posted on Sunday, October 05, 2003 - 10:30 pm: |
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Unemployment Rates for States 6% and higher!
| ARIZONA 6.0 | | | NEW MEXICO 6.1 | | | NEW YORK 6.2 | | | SOUTH CAROLINA 6.2 | | | MISSISSIPPI 6.3 | | | NORTH CAROLINA 6.5 | | | CALIFORNIA 6.6 | | | TEXAS 6.6 | | | WEST VIRGINIA 6.6 | | | ILLINOIS 6.8 | | | DISTRICT OF COLUMBIA 7.2 | | | LOUISIANA 7.2 | | | MICHIGAN 7.4 | | | WASHINGTON 7.5 | | | ALASKA 8.0 | | | OREGON 8.0 | |
-JW:>0
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Jim_witt
| | Posted on Sunday, October 05, 2003 - 10:35 pm: |
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If you're interested in telling Congress how you feel about the elimination of our overtime pay click here. |
Jim_witt
| | Posted on Tuesday, October 28, 2003 - 09:23 pm: |
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-JW:>o |
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