Economics

[gcguy]

I have been wondering for a week or so now. Has anybody in our industry been affected by the current downturn in world economy? Are we in an industry that supports the manufacture of goods or the provision of services that are required whatever the economic climate? Is it only people in the financial sector with careers that are on the skids?

GCguy

[WK]

I'm sure they will bring some of us down with them!
WK

[Kostas Petritis]

Everyone is affected. From the moment that the consumer spending will be affected all sectors will suffer directly or indirectly, some more than others... With Americans being the big spenders and an economy build around the idea that they will continue spending at the same or higher rate, all economies are affected and as you have seen the problem has gone intenrational with G7 and G20 emergency meetings...

The fundamental problem is different but the result will be consumer spending... As you can see from the stock market is not only the financial system that is going down...

[Uwe Neue]

I think that we should bypass the monetary systems and go back to bartering. 100 000 to 1 million pills for a UPLC instrument (depending on the market interest in the pill), or 100 000 pints of melamine-free beer.

[JGK]

I'm out of a job as of the end of this month.

The company I work for is owned by a middle market private equity firm.

In mid September (without warning) or senior management turned up and anounced the facility was closing. We were just coming out of the set-up phase but individually as a facility were not in the black.

[danko]

JGK, I’m truly sorry to hear about your company’s misfortune. And I’m afraid more will follow.
Because the root cause for this mess hasn’t been eliminated. The big boys are just treating the symptoms.

Our senior management turned up and announced the facility was closing.

I bet this senior management has accumulated the amount of money necessary for enjoying the rest of their lives regardless of whether or not they’ll get new jobs.

Best Regards

[HW Mueller]

Uwe, but some people might barter with pills analyzed by some methods which were mentioned here.

[JGK]

JGK, I’m truly sorry to hear about your company’s misfortune. And I’m afraid more will follow.
Because the root cause for this mess hasn’t been eliminated. The big boys are just treating the symptoms.

Our senior management turned up and announced the facility was closing.

I bet this senior management has accumulated the amount of money necessary for enjoying the rest of their lives regardless of whether or not they’ll get new jobs.

Best Regards

Senior management are unaffected, it's only local management and workers at our facility

[Bruce Hamilton]

JGK,

I'm very sorry to ear about your job loss. I wish you all the best in searching for new employment.

One important aspect for a good future is to not be demeaned by the vexatious behaviour of many employers, but to be confident in your own skills and abilities.

Good luck.

Bruce Hamilton

[Jade.Barker]

I'm out of a job as of the end of this month.

I'm sorry to hear about your transition. I'm sure you will find a better position soon. Here parts of the US are being hit worse than others. I'm originally from California, but I moved to Minnesota 8 years ago because of the robust job market. Many companies have their headquarters here (3M, Honeywell, Medtronic, General Mills, Target, Best Buy etc.). The diversity means even if one industry takes a hit - you can get a job in a related area pretty quick. So don't be afraid to try a new town if you need to. Moving was the best choice I ever made.

I think most people are feeling it one way or another. Like the Acetonitrile shortage, it's tangled: The economy goes down, so less new cars are bought, so less plastic parts (like bumpers) are required, so less plastic is made, so less by-product reagents are available... like Acetonitrile. It doesn't end there, think of all the things that Acetonitrile prices will effect... Very tricky.