Though no one in Washington is really able to admit it, we are in a recession.  The dollar is weak, gas prices are sky rocketing, groceries are expensive, and foreclosures are soaring each month.  As a result, many businesses are struggling to survive as well.  What is your firm doing, and what are you doing, to cut costs and save your company money that you normally haven't had to do in the past?

Many Minnesota firms have also been hit.  I was a recipient of a layoff in August with a number of others in the firm after not replacing a number of position vacated prior to that point.  Round two happened just before Christmas.  A few firms have merged or went through buyouts.  I know a number of other firms that are still slow, reducing staff hours, benefits, etc. but keeping their staff.

Foreclosures are skyrocketing here too.  Latest report was number in first quarter of 2008 exceeded 2007 total by 140%+/-.

Housing starts are down and Cities are struggling as Building Permit & Development Fee collections are way down.  Many may have to reduce staffing levels and cut other costs, yet still raise Taxes to keep up.

On the Bright side there is more Transportation dollars after the largest TAX increase in the State History.  There are many transportation projects moving on the fast track to get or keep people working.

Gas Tax went up almost 9 cents per gallon and another jump coming.  Bad news is this coming at a time of record high gas prices hitting consumers evenmore.

Things are no different here in NJ.  The pharma sector has really cooled off and many companies find themselves bidding and taking work they may not normally want to chase (such as retail).  Working for a CM, we have had to adapt to what is available locally in the market to bid and chase.  Higher Education has money to build, but the competition has gotten tough.  Whereas I couldn't find more than a handful of mechanical subs to bid a project a few years ago, now I am seeing 12 - 15 (or more) bidding anything that is out on the street.

Staffwise, we have seen some layoffs as field personnel come off of projects with no new project to go to next.  There have been some staff that have seen the writing on the wall and chose to leave on their own which has saved a few necks along the way.