Just received a call from a freind of mine that he is only working 22 hrs this week. He said he's glad his house is paid for. Asked if I needed any help. Fortunatly I am staying steady busy. This does however make me very nervous.
I have commented before how the fire alarm is recession proof. Not so,I am starting to see a big slow down. From inspections to installs. Suppression even,most inspections are getting done because the INS. Co are on their tails for the paper work. The exception being the Power plants and Petrolium based facilities.
However the service work is always there for these systems. Still working every day.
Work has slowed down alot, alot. My company has a service group which i work in, and a construction group which does the big jobs. Construction jobs are almost at a stand still, lots of those guys have been layed off. Service is keeping busy, but not like I'm used to. In the not so distant past I would have at least three jobs which i could go to on any particular day, there was so much work going i had a hard time remembering which job i was at and where i left off. Hopefully the money holders start spending it again. And yes Leland fa testing is keeping us busy too, thank god Rhode Island requires quarterly testing.
I have found it to be about the same here service company's are OK commercial is down and new resi is non existant. I was wondering if it was the same all over the country? What do you do if you close the doors?Is anyone hiring?
This will probably get worse before it gets better, but I'm thinking positive and forseeing a pick up towards summer time.
Traditionally, both service and construction slows down between February and May (here anyway), and this, coupled with the limp economy, may make this coming slow season one of the toughest we are likely to see - ever.
My plan is to hang in there and keep a tight cap on spending. No major tool or vehicle investments until things pick up, and I'm taking the smallest of jobs that come up to keep my guys busy in the field.
Hopefully this slow down will at least weed out the lousy contractors and allow those of us that work hard to prosper accordingly when the industry kicks in again.
We are early into our nation's greatest depression...
So pack away all the cash that you can...
Commercial Real Estate is destined to crash this year, 2009.
Then the contraction will roll into Services.
The only bright lights: subsidized PV systems, the move to electric cars, the roll out of VFD HVAC upgrades, the continued expansion of Title 24 modifications, the roll out of LED fixtures into the main market, the upgrade of LCC's across the land...
What will be dead, dead, dead: backyard upgrades, new construction outside of government and health care, residential -- tract or otherwise -- Strip Mall TI's...
If you play this right, you'll be left standing even after most of your peers have bankrupted themselves.
Extend credit to any GC at your peril.
Branch out into the foreclosure resolution business.
Let your apprentices go as soon as possible, you'll die trying to carry them through the depression.
Liquidate all idle assets ASAP.
Kill off all debts.
Do not buy any major tools, vehicles.
Downsize your shop; lower your monthly nut ASAP.
Sell the 'toys' ASAP.
There will be no way to avoid the punishment.
Don't waste money on high dollar advertising.
All HELOC ( Home Equity Line Of Credit ) will be shut down in very short order.
Expect huge contractions in Credit Card Limits... It's already well underway at the major issuers.
The best bet is to turn off the TV. I wonder how much of this recession is really caused by talking it up, just like the real estate bubble and oil prices. Watch your cost, but watch out for good deals. Don't cut your advertising, you do that and you will slow down. Remeber, you're in it for the long haul. Just like when the economy is good, this too will pass.
We are not even close to a depression.i.e dust bowls, bread lines. In the 30s you would be lucky to own a radio. Today if you can't afford that big flat screen TV with surround sound you think we are in a depression.
Hang in there. I would say we are bottoming out now. Should look better later this year. Good luck...