Furlough "mandatory" !!

[Mr. Clean]

I was promoted to a manager position at honeywell 1.5 months ago. Just got word today that all functions but engineering has to take a full week unpaid in fiscal December!!!

I believe this is a sign of some near term economy issues as they point to Russia and China and global economic slowing. Guess is it is better than laying people off...

[ironchop]

Yikes

Ive been worried a little because we do mostly support work for large plants and we also do R&D one-offs for alot of large manufacturers so if they slow, we stop. Our local manufacturing base has seen phenomenal rebound and growth since 2010. Bowling Green has a lot of large global manufacturers located here for a city with maybe 50,000 ppl. Usually, when Holley/ Edelbrock files for another bankruptcy, it means times are gonna be tough in BGKY lol.

Besides Russia's stagnation and China's recent crash, the EU is swamped in debt too as are developed countries on all continents.

Russia and China have both increased their domestic gold reserves the last few years substantially though as they anticipated making a move on the dollar as global reserve currency. It remains to be seen if this is still a possibility.

Edit to add: I read somewhere that almost all the 'Cash for Gold' businesses that opened in the last decade all over the US were owned by Chinese investors looking to acquire for China.gov


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[jb2wheels]

Sorry to hear that. I've been through it before, but luckily only once.

[El Camexican]

That sucks. I'm hearing that a lot of large companies are preparing for a bad 2016 and beyond. Commodities are down and there is no reason short of a world war that would send them back up anytime soon. I'm not sure what's worse, speculating on a boom that doesn't happen, or speculating on a crash and causing one to happen. Seems the 2008 was the first and what's coming is due to the latter.

I deal mainly with steel and its worth less today than it has anytime in the past 13 years I've been involved at the trading level. Correcting for inflation it may be near 30 year lows. A lots happens between the time the ore comes out of the ground to the time someone welds two pipes together and it feeds a lot of people. Wood, cement, plastic, its all in the same situation.

Glad to hear you still have a job.:beer

[KASEY]

I guess if they told me I had to take a week off,,,,, I would couple my vacations to it and say KOOL drop my cell phone and laptop in the drawer and go ride the dunes for a MONTH!!!!! SEE YOU !!!