Avoid The Financial Cliff! – Post 152

Avoid The Financial Cliff!

Hello Folks, I’m Keith Abell a pharmacist and a home business entrepreneur. I was just looking at some of the economic news today. I read that J. C. Penny just had a dismal 3rd quarter and analyst just don’t think they are going to make it.

You may or may not be aware that hostess is in bankruptcy and they are in the middle of a labor dispute. They just announced yesterday that if enough of their 18 thousand employees don’t cross the picket lines and come in to work today then they will be closing forever. In the first 3 days this week alone some very large corporations like, NBC, Citibank, Xerox, and most of the Atlantic City Casinos announced downsizing.

Many municipalities are cutting back staff in service areas like hospice care, housing for domestic abuse victims, and even fire departments.

One of the biggest medical device manufacturers in the world, Stryker Corp will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obama-care by slashing 5% of their global workforce – an estimated 1,170 positions.

Here are some more announcements just in the last three days:

  • Smithfield foods closing a plant eliminating 400 workers.
  • Cummins is sending out pink slips to corporate office workers as well as workers in 3 plants in Indiana.
  • Siemens is eliminating another 100 jobs in addition to 140 already eliminated.
  • Pierce manufacturing is laying off 325 in their first round of layoffs, they didn’t say how many more.
  • Wingspan Portfolio Advisors a loan servicing company is laying off nearly 500 jobs 1/4 its work force.
  • Wake Forest Baptist Medical is laying off 950 employees – that’s a healthcare company, supposedly the safest jobs in the country.
  • Turkey Point Nuclear is laying off 277 people, mostly engineers. My brother is a nuclear engineer, I thought his job was safe no I’m not so sure.
  • Dana Corp warned their employees that there could be a large number of layoffs citing that $24 million in healthcare costs due to Obama-care is driving their layoffs.
  • World Media Enterprises, a part of Berkshire Hathaway as well as GE Healthcare in VT announced cutbacks.

Some of the municipalities announcing lay-offs in the last few days include: Toole County UT, Bayou Cane LA, Hamilton Fire Department in OH (near Cincinnati), Mississippi Co AK, Ostego Co NY. This just illustrates that those of you that have government jobs, you’re not safe either.

On top of these layoffs, MANY companies have announced that they are cutting their staff to a 29 hour workweek. Why 29 hours? Because if they work 30 hours under Obama-care program then they have to be given full time benefits.

I personally have felt the effects. I’m a pharmacist! I lost my job last December and have not been able to find full time pharmacy employment since. I personally know of 5 other pharmacist that have lost their jobs as well, one of which works in a very rural part of KY were just a few years ago they were paying huge amounts of money up front just to get people to go there.

What Happens next, my prediction is with the huge number of people getting ready to fill the unemployment system and food stamp system they will completely overwhelm the system. What does that mean, I don’t know but I do not believe it is sustainable. The only answer coming out of Washington is more taxes and I just don’t see any way possible that increasing taxes is going to help in the long run. Many more companies are on the brink of collapse and I just don’t see how they could sustain another tax increase.

All of us know someone that has been laid off, or downsized or someone that will be getting that notice over the holidays. I personally know what that is like since it happened to me December 11, 2011. Fortunately for me, I had a Plan-B in the works. When I got the announcement I had just finished a two year project looking at all sorts of home based business opportunities. Literally, just a month before my lay off I had made a decision on the direction I was going to go.

When I got that notice of termination my wife and I didn’t panic. Since we were just starting out we didn’t know how things would turn out but we didn’t panic. We turned our attention on our faith and on the new opportunities that lay ahead.

It has been a year now and I am not going to sugar coat it, it has been rough but with perseverance and hard work we have made it work and I know you can too. I believe I have the answer for you as well. I can’t stress this enough but NOW is the time to talk with me. NOW is the time to start planning. Maybe you’re not be ready to join right away but I encourage you to take a look at what I am doing.

I believe that as a whole 2013 is not going to be a good year for a great number of people. I also know the 2013 is going to be my best year yet. I want to help as many people as I can to prepare, to be ready for what is about to come.

I encourage you to start working on that second stream of income NOW so you will be prepared when the inevitable occurs.

Visit my website http://AIMHighForSuccess.com

Keith Abell, RPh MI
Pharmacist – Home Business Entrepreneur

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