Economy and Overall Business Question

[DJD]

A question to all my brothers and sisters on this site.....How is business? How is your own private economic bubble you live in? By this I mean forget that garbage you hear and read about everyday. I'm just curious how you are doing at work. Is your company growing? Status quo? Losing business? Making ends meet? Nothing personal just curious how things are out there in different parts of this country and state and even in Canada (Margie)

Personally my local utility bills have gone up over the last year or so and I spend a little more at the grocery but I adjust by choosing where I buy what I want....just takes more planning. Gas is acceptable at less than $3 per gallon (ugh) I guess I'm conditioned to it now.

We are slammed beyond anything I have seen in 10 years! Amazing isn't the word to how much business opportunity we have and are getting. This isn't new construction (that still sukks because low bid now on projects is below our cost....mostly) it's a result of us looking at what we do and concentrating on our strengths which is service. Service leads to direct sales and that leads to alot of work.

I'm a Systems Integrator we deal with Fire Alarm, Intercom, Nurse Call, Paging, Card Access, CCTV, Networking, Fiber, Pro Sound, AV Teleconferencing, Cable distribution, Educational Media Systems and on and on....

Just curious???

[know1]

Great question. I keep hearing economy this and economy that and it's used as an excuse for everything these days. I know it has an impact, but some things are not caused by the economy. I get really tired of hearing the words "the economy" these days.

On the homefront, I'm doing fairly well. I haven't adjusted my spending or saving habits through this entire economy downturn. I didn't get a raise at work for almost three years, but that changed a few months ago. I'm actually thinking about purchasing my first boat soon. My wife recently got a raise as well.

As far as business, our company is holding steady. We have some bumps lately, but that was due to some internal turmoil and personnel issues rather than clients not spending as much money. We are basically a service business as well - marketing agency. Our sister company under the same corporate umbrella is having one of its best years in quite some time.

[MrSplitshot]

The tire distribution business has been pretty good this year. Last month we had our largest month (sales dollars) in the company's 37 year history.

As bad as I hate to say it, Obama kind of did our business a favor with all of the Chinese import changes. Tire supply got really really tight and manufacturers took price increases. Price increases are great for us as a supplier...though not so great for the consumer buying tires at a retail store. Our increased business has been a combination of expansion into new markets where we stole business from competitors, and price increases that brought in more sales revenue.

Our industry's measuring stick, the "RMA (Rubber Manufacturers Association) Numbers," were up 14% at the end of June, but forecast to be up 4% overall at the end of 2010. That means that First and Second Quarter was great, but Third and Fourth Quarters are expected to slow down substantially. That has pretty much been true thus far. Our industry will be up about 4-5% in 2010. Fortunately, for us as a company, we are outpacing those numbers.

2010 has been a good year for us. If you want to drive, you gotta have tires.

[zx150]

My pay stays about the same. My 457 has been crushed! But as far as business is concerned it is rockin'. I locked up a kid the other day for a burglary and when I interviewed him he blamed it on the economy. I had to laugh.

[bassin_bug]

The company my husband works for is world wide and receiving some good contracts in all sectors. They have received a refinery contract in Kuwait that is worth more than $20 billion over ten years; a $2.2 billion contract in the state of VA; a $10 billion in California; and multiple contracts in TX, OK, KS in the power sector. They are building military bases in the middle east and have precious metals and semi-precious metal mines in Central America, Mongolia, Australia, and a few other places that are doing extremely well. There are joint oil explorations with Mexico and a huge refinery contract in that country.

Overall, I think the company is doing well although not as well as they did over the past 3 years. My husband still has a job stateside for which I am thankful because he came within days of being redeployed overseas. I manage the finances and investments and they are slowly growing but the interest rates su-ck. I have not changed my spending habits; buy the things I need and leave my "wants" on the shelf. Just how much junk does one person need anyway? lol Surprisingly, and I don't know how, the power and water bills are lower this year than last. We re-negotiated a new 2-year contract with our cable, phone, internet provider and the bill was lowered $48/mo.

Our homeowners, auto, and boat insurance went up. I looked up the Kelly Blue Book value of the boat and autos and re-wrote the policies for actual value and the premiums dropped $98. Our health insurance is through a group plan and it went up $26/mo. We are holding our own financially and my husband's job outlook is good. Thank You, God!

[Chubminnow]

For me...I got laid off on the Friday of Memorial Day weekend...luckily for me (REAL LUCKY) I had another job by Tuesday afternoon AFTER Memorial Day...I ain't that good, I'm just real lucky, at least in this case anyway.

Generally speaking the economy continues to bite for the business I'm in (construction)..we have some government work (military type stuff all over, Ohio, Arkansas, Alaska, etc), some decent projects at Ford Motor Company and a few other things...but as it stands right now, this new company I'm with...well, I'm pretty sure we have room for some more projects to come through our doors. And the projects that we do send out for bids has everybody and his brother bidding on them, which is yet another sign that contractors out there are hurtin' for some work on that end of the construction spectrum.

I know some lighting sales guys and they tell me they don't pass up any opportunities to bid on a project...where it used to be they might pick and choose or throw a dart at the dart board not really caring if they got the project or not, it ain't like that now.

On a brighter note...the company is doing better this year than they were last year at this same time period, marginally better, still not hitting the target goal, but better...and any positives now days we'll take and be happy for them.

DJD - I have read that the low voltage industry will continue to prosper for several more years, most especially voice/data.

[walkeraviator]

Hey Bug.... My father-in-law is in the oil/natural gas/chemical business as well. Their business is bangin domestically, but they have been workin 3 years with PEMEX which is teh governement owned oil company in Mexico... lots of red tape, but teh payoff will be worth it if he can ever get them off their butt... He has a process for removing water from the offshore mined oil at the well, reducing refining processes.. its really interesting


As for my and mine, I was threatened with a pink slip in November, but a new hospital contract saved my job. And teh wife has a steady job working for teh American Red Cross... if it wasnt for massive school dept we would be sittin comfy right now. My job is kinda in the air when the new healthcare bill shakes out. I doubt Obamacare is gonna pay for plane rides when you get sick... but we will see how that works out. I actually have a job interview i am gonna skip if that tells ya how well i am doin. I have zero complaints man. God is good. All the time.

[Chubminnow]

You all are talkin' natural gas and oil refinieries and such are doing so well...how come we consumers continue to pay through the nose at the pumps, does anyone know? (Serious question)

[bassin_bug]

Hey Bug.... My father-in-law is in the oil/natural gas/chemical business as well. Their business is bangin domestically, but they have been workin 3 years with PEMEX which is teh governement owned oil company in Mexico... lots of red tape, but teh payoff will be worth it if he can ever get them off their butt... He has a process for removing water from the offshore mined oil at the well, reducing refining processes.. its really interesting


As for my and mine, I was threatened with a pink slip in November, but a new hospital contract saved my job. And teh wife has a steady job working for teh American Red Cross... if it wasnt for massive school dept we would be sittin comfy right now. My job is kinda in the air when the new healthcare bill shakes out. I doubt Obamacare is gonna pay for plane rides when you get sick... but we will see how that works out. I actually have a job interview i am gonna skip if that tells ya how well i am doin. I have zero complaints man. God is good. All the time.

PEMEX and ICA-PEMEX play a lot of political games when they put contracts out for bids. It is government owned and the people in charge virtually blackmail the bidders to see who will give them the most money under the table. They have one contract for over $675 million for offshore platforms in the Gulf of Mexico that they have awarded, withdrawn, awarded, withdrawn, cancelled and everything under the sun and it's still open after at least 4 years that I know of.

PEMEX is so bad at causing explosions that the Attorney General is threatening them now. They blew up the main sewer in Tula, Mexico by releasing refinery gases into it. They had a huge explosion on 9-7-10 at Caderayta refinery that killed an engineer, badly burned 2 employees and injured 8 others less seriously. They still have guards posted around that site.

They are building a new oil refinery in Tula, the first in 30 years. Mexico is one of the world's largest oil producers but has only 6 refineries. Tell your father-in-law I wish him well with his venture but to expect Mexico to try and 'pull his leg.'

[bassin_bug]

You all are talkin' natural gas and oil refinieries and such are doing so well...how come we consumers continue to pay through the nose at the pumps, does anyone know? (Serious question)

Personally I think it's a lot of arm twisting to rape the consumer. Politicians are up to their ears in money the oil lobbyists have slipped to them and they will always favor big oil over the consumer.

I have two first cousins that each have a producing oil well on their property. One of them told me that the oil company has done everything imaginable to get all of his mineral rights. At the present time after the oil company takes their share, and he pays royalty taxes and income tax, he receives only about 8% of the profits.

I own three times as much land as he has, and I own 100% of the mineral rights. There are oil wells all around me but there isn't one on my land and there will never be if the oil companies try to pull that kind of crap on me.

[walkeraviator]

My pay stays about the same. My 457 has been crushed! But as far as business is concerned it is rockin'. I locked up a kid the other day for a burglary and when I interviewed him he blamed it on the economy. I had to laugh.

I should have tried this excuse to get out of my speeding ticket in Seneca Park last week....

[Embrey]

construction is so so...right now it *****