I DON'T CARE WHAT YOU CALL IT....
We are in a recession.
A slow down.
A credit crunch.
It's a cycle and we've been here before, but in my lifetime when this has happened someone else was taking care of me.
I've never had to deal with economic uncertainty like this in my adult life. I think that it's also more challenging for me than ever before because I'm part of a small company that is literally struggling to stay alive every single week. Since the fall of last year we've had 6 million dollars in contracts go "on hold". Buildings that were supposed to be in construction right now are not. So every day we are trying to develop new business in a market that's stone cold.
Feels like a recession to me.
I've had to lay off 4 guys. One of them had a baby the week before I let him go. I desperately want to get a new contract so I can bring him back to work. He calls me to see if we've gotten anything and I tell him that I will let him know, but he should be looking for work, not waiting. He tells me there is no work. Everyone in construction is looking for work.
The other day an investment broker came into the office to meet with Adi who couldn't make the meeting because he was out with bids. I sat down with him to hear what he had to say and he started with, "First of all we're not in a recession." He emphatically supported that statement by telling me that the "numbers" say that the economy is still growing.
I wonder if my former employee with the brand new baby and no job would agree with that statement?