Friday, September 19, 2008

Strap in.

To be honest - I don't remember how we heard about the Lehman thing. It's about 1000 stress years ago. But, at 9:00 at night we found ourselves trying to find any news about it we could. The major news networks didn't seem to think it was news. So we found ourselves staring at Bloomberg News in disbelief. We weren't directly affected by the collapse, but we knew this was a landscape altering event.

For the next three nights we found ourselves watching Bloomberg at 11 at night to try figure out what was going to happen the next day. We'd never done that before. It was on the third night I turned to Mr S. and said "You don't think they will spontaneously start laying people off do you?"

Him - Yes. I do.

Me - Half laughing I said "are you fucking with me"?

Him - No. I'm not.

The next day I was telling Mr S. about how crazy the market had been. He wasn't really amused, and had a worried expression on his face. The first email came through that someone had been laid off. We both reassured each other that everything was going to be okay. We both knew the other was lying. That is something you do when you love someone. Reassure them. Even though you are sure everything is not going to be okay. By that afternoon he was in a hastily formed conference call. He'd decided to work from home that day.

We've both been through layoffs, and are past being blissfully ignorant about the process. No matter how valuable you think you are.. it doesn't matter.

Anyway.....We are safe. For now.

The only reason why I mention it, is tech has been largely untouched. We'd actually been expecting the layoffs every since we could tangibly see gas prices were breaking the back of the consumer. It's never been a matter of if... only when.

If you haven't started making your back up plans yet. Start making them now. Then make a second set. I'd be shocked if you didn't start hearing this story all over the Valley. Companies that were once strong need to go into protection mode. That means becoming leaner. Unfortunately.

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