Do you remember that old poster of a kitten hanging from a tree branch by its claws and the headline, "Hang in There Baby"? I'm not trying to return to my cat theme of last post, but hell, I've been thinking of that animal an awful lot lately.
Last week I attended an industry conference in New Orleans where client after client told me how they were cutting back severely and just hoping for a turnaround in 2011. So, not only have they faced the bleak picture of 2009, but have already essentially given up on 2010. As a marketing professional this is one of those times where you need to get a little corny and say - every challenge presents an equal opportunity. (Gag - such an overused phrase). But still, it is essentially true. This is the time that you need to be even more vocal about the value you provide to your clients (or your employer). More importantly, you need to actually PROVIDE value (especially in cost-saving strategies they need). Most importantly, you need to not retreat and hide under the bed. Silence denotes surrender.
That being said, it is also a time I have to make tough calls on approving training or overtime for my staff. I also watch with concern the peaks and valleys of workload rather than the steady stream we had become used to over the past 8 years. So now I am urging my staff to dig up the old wish list - the things we think are valuable but we never seem to have the time to implement. Of course, they must be NO COST wish list items, but still...
All of our firm's numbers look good so far this year, but I think the executives see a cliff quickly approaching and they are trying to be proactive in cutting waste. We have salary freezes, hiring freezes, and promotion freezes. Essentially, it is getting cold in here! As a prime example, I had a stellar review today - really beyond the norm - but since there is no money for raises and no promotions this year, it doesn't cost the firm anything to be overwhelmingly positive and I have to accept the pat on the back for its own value, I guess.
Just when I feel like I'm about to lose my grip on that little branch however... one of my unemployed friends (yes, there are several now) emailed to tell me he has accepted a new position.
A small glimmer of hope.
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Monday, February 23, 2009
Tuesday, February 10, 2009
Do the Math
I do way too much thinking when I'm driving. Really I should be paying attention to the road, but the drive to/from work is so automatic my mind wanders and wanders and wanders.
Tonight I was thinking about the economy...again...and getting freaked out...again. All I had to hear was that the stock market dropped almost 400 points...again...and my mind started spinning...again.
So I started to do the math. Assume there are about 200 million adults in the U.S. population between the ages of 15-64. Then conservatively assume that of those 200 million 50% are actively earning money. So we're down to 100 million potential spenders. Then assume only 50% of them have dispensable income available to them...another conservative figure I would think. So now we are down to 50 million.
Then, assume 50 million people represent say 30 million households - assuming some partnerships, marriages, co-habitation, multi-adult family households, etc. So how much could each of those households spend to equal the $800 billion that equates to our pending stimulus bill?
$27,000 U.S. greenbacks folks...per household.
Now I would consider our household (luckily) still one of those 30 million. But here's the thing. We just bought a car in December for, you guessed it, $27,000. Granted it is financed for a few years, but essentially it has been spent. So, I think we've done our part.
Now since this $800 billion is actually the SECOND stimulus package of this amount to be put in place, you can double that household bill of $27k. And just imagine the hangover THAT will create for all of us when the tax bill comes due. So, before they start adding up number three, I think the rest of you 29,999,999 housholds need to get out there and help out this sickly and sad economy. Buy a car. Buy a coat. Hell, buy lunch. Just get out there and open those fists.
(and in the background I hear my Dad..."save your money!")
This math is making me tired.
Tonight I was thinking about the economy...again...and getting freaked out...again. All I had to hear was that the stock market dropped almost 400 points...again...and my mind started spinning...again.
So I started to do the math. Assume there are about 200 million adults in the U.S. population between the ages of 15-64. Then conservatively assume that of those 200 million 50% are actively earning money. So we're down to 100 million potential spenders. Then assume only 50% of them have dispensable income available to them...another conservative figure I would think. So now we are down to 50 million.
Then, assume 50 million people represent say 30 million households - assuming some partnerships, marriages, co-habitation, multi-adult family households, etc. So how much could each of those households spend to equal the $800 billion that equates to our pending stimulus bill?
$27,000 U.S. greenbacks folks...per household.
Now I would consider our household (luckily) still one of those 30 million. But here's the thing. We just bought a car in December for, you guessed it, $27,000. Granted it is financed for a few years, but essentially it has been spent. So, I think we've done our part.
Now since this $800 billion is actually the SECOND stimulus package of this amount to be put in place, you can double that household bill of $27k. And just imagine the hangover THAT will create for all of us when the tax bill comes due. So, before they start adding up number three, I think the rest of you 29,999,999 housholds need to get out there and help out this sickly and sad economy. Buy a car. Buy a coat. Hell, buy lunch. Just get out there and open those fists.
(and in the background I hear my Dad..."save your money!")
This math is making me tired.
Thursday, December 18, 2008
The Trickle Effect
TRICKLE def.
1. to flow or fall by drops, or in a small, gentle stream.
2. to come, go, or pass bit by bit, slowly, or irregularly
3. to cause to trickle.
4. a trickling flow or stream.
5. a small, slow, or irregular quantity of anything coming, going, or proceeding.
Trickle Down became a common term when paired with economics. In reviewing the definition above, I'd have to say I can see why that term came to be. I can certainly say that positive economic booms have had a small, slow, or irregular trend of coming, going, or proceeding in most of our lives.
However, current economic conditions need a new term.
DELUGE def.
1. A great flood.
2. Something that overwhelms as if by a great flood.
3. To overrun with water; inundate.
4. To overwhelm with a large number or amount; swamp.
Yup.
That's the way it feels today.
As I learned of yet another friend who has lost his job, I wonder when the flood will stop? Until then, I'll just keep treading water, and praying that the economy begins to trickle UP soon.
1. to flow or fall by drops, or in a small, gentle stream.
2. to come, go, or pass bit by bit, slowly, or irregularly
3. to cause to trickle.
4. a trickling flow or stream.
5. a small, slow, or irregular quantity of anything coming, going, or proceeding.
Trickle Down became a common term when paired with economics. In reviewing the definition above, I'd have to say I can see why that term came to be. I can certainly say that positive economic booms have had a small, slow, or irregular trend of coming, going, or proceeding in most of our lives.
However, current economic conditions need a new term.
DELUGE def.
1. A great flood.
2. Something that overwhelms as if by a great flood.
3. To overrun with water; inundate.
4. To overwhelm with a large number or amount; swamp.
Yup.
That's the way it feels today.
As I learned of yet another friend who has lost his job, I wonder when the flood will stop? Until then, I'll just keep treading water, and praying that the economy begins to trickle UP soon.
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