Thursday, February 12, 2009

The financial mess

Everyday we wait with bated breath,'will we still have a job to go to?' As the financial crisis in this country and in the state of California deepens and worsen, it is hard to tell. We read of stories in financial times predicting the demise of the company that I work for. It's stock price has fallen to pennies. A friend and colleague bought a bunch of company stock, his way of trying to shore up the company stock price, his contribution in helping the company survive, I laughed at him, a fine gesture but not enough. They say when there is an en mass departure of company executives, it is a sure sign that the ship is sinking. Yesterday we saw a huge list of job vacancies the company is trying to fill, for top executives, this can't be because of business expansion but more like an exodus of top executives. What are we to make of that? My colleague and I looked at each other and wondered, I said, 'at least they are still trying to fill these positions, rather than leave them vacant and shuffle existing people to take over the slack.'
One thing I know, my staff and I are working our hardest to maintain and grow the business but in the end, will it be enough? Like everyone in this situation, only God knows and only time will tell. I predict in 6 months the environment in the drugstore business and ownership will be very different in Southern California. My colleague came from Target Pharmacy. Target has already cut their pharmacy hours and business. At least we are still hiring. Is that good? We are not hiring full time people, every new hire is part time and you get work if there is work. This is a good thing, people will work harder in order to be retained and given work. This downturn has it's advantages, people work harder because in the end, who gets the pink slips? The unproductive. I have a much easier life too, my staff is working harder, making it easier for me. I like it.
This downturn has spawned a lot of new industries. I read of a company who goes around California painting the brown lawns of foreclosed homes green. Watering the lawn is turned off and the grass turned this ugly brown color and the banks wants them to look nice and green and have curb appeal, so it would sell faster. There are trash companies who goes in to foreclosed homes to clean out the stuff left by homeowners. These are very sad businesses but necessary businesses.
It is heartening to see houses that went on the market in my area still got sold and in a short time. I worry when I see a for sale sign up in front of a neighbor's house, I wonder, will it stay long on the market?.
In the end, whatever it is, worry doesn't change a thing. The crisis will need it's own time to work itself out. I don't know that the massive stimulus package they signed will make a difference in how fast and how this will turn out. We have no confidence in government.
Jesus did say in scripture, 'these will take fasting and praying....' Not just praying but fasting as well....

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