Credit Crunch????

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Credit Crunch????

Postby RagDoll » Fri Mar 27, 2009 2:23 pm

Hello all,

I've been tasked with looking into the affects of the economic downturn at work (boring task) - how departments are coping, what measures they're putting in place to mitigate etc. This work has (sadly) got me thinking.... where I live the shops etc. are still absolutely packed, it doesn't seem like people have stopped spending at all, which makes me wonder "what credit crunch?". I was just wondering what everyone else thinks; has it affected you or people that you know or is it pretty much life as usual?
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Re: Credit Crunch????

Postby rufio89 » Fri Mar 27, 2009 2:24 pm

It's not affected my life much, but I have noticed a LOT of shops closing down.
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Re: Credit Crunch????

Postby dem » Fri Mar 27, 2009 5:20 pm

It hasn't affected me at all, infact i've probably benefited from it when I bought my new car last year at a knock down price - but then again I'm lucky that I don't have a house or anything like that to pay for.
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Re: Credit Crunch????

Postby Weasley » Mon Mar 30, 2009 9:04 am

It's affected my industry big time. I work in the motor trade, leasing cars and sourcing cars for people to buy - new and second hand and it seems all we are selling at the moment are second hand cars. Last year we did 33 cars in March - new registrations and this year we have done 12. People just aren't spending! There is this stigma because the factory's are on 3 days weeks and not building as many cars that the one's they have are going to be seriously cheap - not the case. Manufacturers such as Audi and Vauxhall had airfields FULL of cars in January and they were very discounted, but now due to redundancies and cutting of hours the cars have become supply and demand and are actually going up in price! People who are interested have terrible credit and we can't finance them...the people who have good credit are holding on to their money. Luckily we have an on site garage which is doing well so that is helping our side of the business. If it wasn't for the garage then I would have lost my job ages ago.
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Re: Credit Crunch????

Postby dipsydoodlenoodle » Mon Mar 30, 2009 9:42 am

Personally I haven't been affected at all. Our work has increased - maybe going from Mainly UK, South America and Middle East based to world based (time will tell - it's still a work in progress). We specialise in aging assets for the oil and gas industry - work was good last year with the HUGE oil prices; new projects have stopped, however they are now maintainign all of their old/aging assets so we have plenty to do. The only work difference for me in finding info on older things is harder than the new projects.
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Re: Credit Crunch????

Postby Bel Bel » Mon Mar 30, 2009 12:14 pm

I was on a fixed mortgage and it came to an end so I am paying less now because of the drop in interest rates. Means I can afford go to Vegas next year - woo hoo
Work is fine at the moment as we sell medical supplies, however new budgets are starting 1st april and people may start getting really tight with their money, we have loads of different products though so we should be ok
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Re: Credit Crunch????

Postby ThisIsATempo » Sun Apr 19, 2009 6:39 am

Killing my family D:
Single mother who's on minimum wage.
I need to chip in with EMA to pay the bills a lot of the time, when I get it that is.
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Re: Credit Crunch????

Postby spacegirl » Sun Apr 19, 2009 10:11 am

It hasn't affected me much, but then i rent, have no kids or anything like that so i just sail along as normal for the moment. however it has affected my business terribly as well. i work in the tourism industry and people have stopped going abroad, and a lot of people plan to stay at home this summer according to the research. loads of travel agents etc. are shutting up shop or laying people off, quite worrying as my initial contract ends in september and i very much doubt they'll be able to keep me on... so i will be jobhunting quite soon which is very worrying!
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Re: Credit Crunch????

Postby dipsydoodlenoodle » Mon Apr 20, 2009 10:15 am

spacegirl wrote:It hasn't affected me much, but then i rent, have no kids or anything like that so i just sail along as normal for the moment. however it has affected my business terribly as well. i work in the tourism industry and people have stopped going abroad, and a lot of people plan to stay at home this summer according to the research. loads of travel agents etc. are shutting up shop or laying people off, quite worrying as my initial contract ends in september and i very much doubt they'll be able to keep me on... so i will be jobhunting quite soon which is very worrying!


Yea the travel company a few doors down from where I work went bust last week (freedom direct). I'm going on holiday - my problem isn't going on holiday it's the fact the pound is doing to poorly against the euro so it's going to make everything else seem more expensive.
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Re: Credit Crunch????

Postby RagDoll » Mon Apr 20, 2009 11:08 am

Spacegirl, I'm on a fixed term contract where I work and it ends in September too. It's quite common for people to be on fixed term contracts where I work and I've been on one since I started (in Jan '07). A lot of my colleagues contracts were up in March, but they've been re-newed, so I guess that gives me some hope. Having said that, I hardly have any work to do, so I don't see any reason for them to keep me on :(

At the moment for me it's life as normal, but I am getting increasingly anxious about my job! Especially as I do have bills etc. to pay.
Last edited by RagDoll on Mon Apr 20, 2009 1:27 pm, edited 1 time in total.
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Re: Credit Crunch????

Postby dipsydoodlenoodle » Mon Apr 20, 2009 1:12 pm

RagDoll wrote: Having said that, I hardly have any work to do, so I don't see any reason for them to keep me on :(


Not that I'm on a contract or anything...but I rarely have things to do at work yet they keep hiring more people to take the work load off...or when I ask to help out on another team they will hire someone else because it's just plain too busy! I twiddle my thumbs most days!
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Re: Credit Crunch????

Postby RagDoll » Mon Apr 20, 2009 1:33 pm

I know what you mean; I twiddle my thumbs most days too! Which explains why I'm a PP addict, ;) haha. It's really depressing sometimes though - I know I should be thankful I have a job at the moment, but this is supposed to be my 'career', yet I'm not getting anywhere.
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Re: Credit Crunch????

Postby dipsydoodlenoodle » Mon Apr 20, 2009 3:25 pm

RagDoll wrote: but this is supposed to be my 'career', yet I'm not getting anywhere.


I know I have two flippin degrees to get this job and what do I do? Spend my days on PP and talk about rust!
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Re: Credit Crunch????

Postby RagDoll » Mon Apr 20, 2009 3:57 pm

Yep, I needed a degree to get this job and all I do is sit on PP and wish my day away... I wish I'd done something else at uni now!
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Re: Credit Crunch????

Postby rufio89 » Mon Apr 20, 2009 4:03 pm

Ive got nothing to do either - I've not got a degree mind, but I still worked hard to get this job, and I've just gone from one job with nothing to do to another!

Whenever I say anything about it to friends etc, they say it sounds great, but having nothing to do gets very boring after about half an hour...
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