CHESSNOID

I remember when I graduated with honors from Woodbury University back in 1988 with 2 bachelor degrees in finance and marketing with a minor in management. Finding a job was very difficult. It took me 3 months to land a full time job in the financial industry. I probably went to over 100 interviews and was rejected over and over. I was only 21 years old back then but at the time it was a very discouraging time in my life. I have come a long way since then and have been quite successful throughout my career.

Tonight when I watch ABC’s Night Line show they had a segment where 10,000 applicants lined up for 350 jobs at a new Walmart opening up in Atlanta, Georgia. They interviewed a few people asking what there situation was. Many of them actually had jobs and were looking for part time jobs to moonlight and help make ends meet. With the general rising costs of health care, utilities, food, housing, and everything else you can think of, people are taking action to avoid financial disaster.

I remember lining up for a city job in Los Angeles where they had 3 management assistant positions after graduating from college. I remember it clearly when I asked the person in front of me if they were applying for the same position. She told me yes but this line (about 30 applicants) was for those who had master degrees. I went to the line for people who only had bachelor degrees and there were by my best guess about 500-600 applicants. I know this isn’t as many as 10,000 people but when you wait in lines that long for a few positions it feels like it.

I think the stock markets reflect how the economy is doing and I know the retailers have all announced how their holiday season sales were. Most came in lower than previous years. I think a couple of my favorite stores are closing some locations or just shutting down completely. The banks are starting to announce their earnings next week but short term it does look bleak. Many banks will be reporting unimaginable massive losses either from foreclosures or higher delinquency in their credit card portfolios.

We will get through this part of the business cycle just like the one I experienced back in 1988 after finishing school. I know how it feels to be in that situation where tough times are everywhere. I blog about the high rate of record breaking numbers of foreclosures, massive layoffs, and a slowing economy, but when I saw that video it moved me enough just to write about old feelings it invoked in me. I hope everyone is able to hold on to what they have until things turn and keep their hope and faith alive during these soon to be worse tougher times. Just remember, it will eventually get better. For now, just prepare for the worse and hope for the best.