Wednesday, April 29, 2009

The economy

http://www.nytimes.com/2009/04/30/business/economy/30econ.html?hp
In short? It's bad. It's not getting better.

Our small family is doing okay right now. We are fearful because BearingPoint is still in Chapter 11 and we don't know what will happen next - the company is breaking up into pieces and being sold, and we don't know a) if Ryan's contract will be sold and b) if the buyer of said contract will keep the BearingPoint employees or place their own people in the contract. Those are some pretty big concerns for us. There are a lot of great people out there (13 million, according to what I've read recently) who are underemployed and looking for work, and so a job loss is particularly scary in this economy.

If Ryan's job does NOT go away, we are doing well. I'm working like mad on the Hunts Point book, and Ryan's paycheck pays our bills, so with the combo, we're digging ourselves out of debt.

It's kind of tiring holding my breath all the time, though.
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2 comments:

Sue said...

I can relate to the uncertainty - Phil is still waiting for word as well. His division and Ryan's are being bought by different companies, so it's uncertain what they're doing. I know some people in Phil's section have received offers, but no one on Phil's level yet - they're being told not to panic, that it just takes a while to go through such a massive group of people. I hope that's all it is. We just keep paying our bills and holding out hope that in a month or so that he's still employed. And Ryan too.

The waiting is frustrating though - while still in debt, we're doing better than we've done in a long time. And I'd rather not be spending time treading water again (financially) like we did for 2 years in 2001 when he was out of work.

We just have to remember to breathe!

3:28 PM, April 29, 2009
Kristina said...

Arghhhhhhhhhhhh it is so very stressful, just thinking about it blows my mind!!!!

Breathe. Just breathe. Good advice, if I can follow it!

3:54 PM, April 29, 2009

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