As diverse financial reports trickle in, it appears the
country’s economic freefall has slowed and according to many economists, “We
have found the bottom.” On Aug. 12, the Federal Reserve announced that the
recession is heading towards an end, and according to a New York Times
article, the Federal Reserve is “taking a step back toward normal policy.” With
this good news in hand, the United States is now embarking on a new journey —
recovery.
We are not completely out of the woods yet. Unemployment and
inflation issues remain at the top of the nation’s problem list and it will be
interesting to see what the financial outcome of vast government bailout
programs will yield. The recovery pattern is uncertain. It may be a quick rise
back to the top, a brief lull and then a quick rise to the top, or it may mean
stability without a vertical rise to previous income levels and profits. The
United States economic structure may be experiencing its new normal, but only
time will tell what shape the recovery will take.
Still, the trip down is coming to an end and I am curious as
to how each of you have fared. Any bumps and bruises? How is the staff? Did you
have to let anyone go or did you hire people? Acquire any ailing businesses?
Shut the doors of your business? Participating in any economic stimulus
programs/contracts. The recession has affected everyone in a different way and
I would like to hear your story.
Angela D.Harris eMedia Development Specialist. E-mail her at angelaharris@achrnews.com.
Title: Recession Results By: Mark Posted: August 28, 2009 2:53 PM
Angela, great blog. From what we can see in DFW the economy has kind of bottomed out. Initially we had to lay off some project crews because new construction was down but on the service and maintenance side we actually had to hire some technicians. Seems like we've hired at least one new employee over the last 4 months. Overall we think we're better off; that the changes we had to make because of the recession actually put us in a better position.
Title: Recession Positives By: Angela D. Harris Posted: August 31, 2009 9:08 AM
Rest Assured, you aren't the only company making those tough decisions Mark. A lot of contractors we have heard from have had to do the same. I am surprised though that many of them also feel that the recession has put them in a better business place as well. Maybe keeping closer track of finances and a tighter rein on spending has improved some business practices along the way. Thanks for sharing your recession experience...Anyone else?
Title: My Story By: Matthew K. Cardwell Posted: September 16, 2009 5:38 PM
I am a residential service tech out of Baltimore, Maryland. I work for a small company named Chason Service Engineers. A family run business and as I have found out one of the best places to be employed. The recession has shown me the value of the company I work for. Mr Chason, owner of CSE, did everything in his power to keep the buiness open. He did not want to loose any of his employees. He spoke to us on this subject and told us all that he considers us all family, and would do whatever it took not to loose us. However Mr Chason managed to do it, we are still open for business. Mr Chason certainly sacrificed alot to weather the storm, but to him it was all worth it. His family business is very important to him, and to me as well. I cant help but to look up to Mr. Chason for all he has done for his employees. In my opinion he is one of the last gentlemen left in the industry. It makes me proud to work for him, and I will try to return his effort in the field every day to our customers.
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By: Mark
Posted: August 28, 2009 2:53 PM
By: Angela D. Harris
Posted: August 31, 2009 9:08 AM
By: Matthew K. Cardwell
Posted: September 16, 2009 5:38 PM