CA: Bay Area job losses are largest in nation

Contra Costa Times ^ | 7/27/03 | George Avalos

[NormsRevenge]

To find the bottom of America's economic barrel, you don't have to go very far.

No question, it's not that much of a shock to learn the Bay Area has a soft employment picture. The evidence, after all, is plentiful.

[Ernest_at_the_Beach]

calgov2002:

calgov2002: for old calgov2002 articles. 

calgov2002: for new calgov2002 articles. 

Other Bump Lists at: Free Republic Bump List Register

[doc30]

The real questionis this: Will the relocated people of California bring their politics with them? Will they turn Nevada into a clone of California in terms of rules, regulations and socialism? The residents of that state contributed to the problems there, and their solution is to move to a different state. Will they foul their new nest, too?

[Lael]

http://www.metroactive.com/papers/metro/11.11.99/index.html

Siliporn Valley...that article appeared in November 1999.

Turns out, when Chavez in OPEC raised the price of gas in January 2000, Porn consumers canceled many of their Credit Card Porn Accounts so they could continue to "Pay at the Pump".

Suddenly, you didn't need all the Routers (think Cisco), or Web Hosting (think Exodus)...

On eBay, Cisco iron still goes begging!!

No, so called "Hi Tech" isn't coming back.

Read the Article...it is like entering a Time Capsule of the whole 1994-1999 era.

On January 14, 2000 the Dow maxed out, on March 10,2000 the NASDAQ and S&P 500 did the same. Despite the Politicos boasting at the Demo Convention about "best Economy in 50 Years", the "Pre 1980 Penney Indicator" was flashing that Mega Troubles lay ahead!!

[rockfish59]

Well, I'm sure those tripled DMV fees will sole evvvvvvvverything!

My nephew up here in WA just bought a nice old 2 story house on 4 acres of land for $37,000.
He just retired from the Boeing rat race.
Of course he's out in the boonies and will get more than enough rain,
but not dealing with noise and traffic will surely help cancel that out!

[sourcery]

FYI

[Canticle_of_Deborah]

Every thread has to have one.

I'm staying here and weathering out the storm :-)

[Ernest_at_the_Beach]

Now that sounds good!

[Brad’s Gramma]

I'm staying too. :-)

[Canticle_of_Deborah]

Woo hoo! We need a ping list for us rugged survivalist types ;-)

[Dat]

I think that now that the money spigot is closed for high tech and now that there is foreign competition in the computer software field, the San Francisco will not recover to the level before the boom. Companies will be forced to go where costs are lower.

[ExSES]

I wonder when the Real Estate bubble will burst also. Maybe when the techies run out of credit cards and the homes become reposessed?

I was in the Florida Cape Kennedy area when aerospace collapsed..., gave away $15K of equity to have an investor assume my mortgage. Later I was fortunate (sic) to be in the Seattle, Washington area when Boeing TANKED! Same story but, less equity lost (mortgage firm just "took it back"). Bottomline..., Real Estate CAN GO DOWN!

I was fortunate enough to relocate enough times (13!) to catch "The Wave" a few times (most importantly..., my last sale before retiring.

When anyone repeats Will Rogers' famous line... "Buy Land Son, They Ain't Making Anymore Of It", remember, that is good advise...., but only IN THE LONG RUN and, remember, IN THE LONG RUN..., WE ARE ALL DEAD!

[kstewskis]

To find the bottom of America's economic barrel, you don't have to go very far.

When talking about the Bay area, to find the bottom of America's elitist socialist barrel, you don't have to go very far either.

[Sunnyvale CA Eng.]

My wife is close to the end of the road work-wise, but has been with her employer for too many years to leave now. Thanks for the offer. We may end up in Nevada if that state doesn't go nutso taxwise in the next 5 years. Florida is too humid for me and my cats don;t like gators. ;-)

Florida and Nevada would be my choices too. I'm stuck here in Sunnyvale for the duration or bust - whichever comes first. I can't afford to leave right now but I would if I could. My business is struggling month to month and I have a ton of personal and busines debt that is killing me. I lack the $ to try new markets and/or do new product development. No bank or serious investor would touch me right now. I no longer have any employees - I let all of them go and they have moved on to other states(some after losing everything).

Things are pretty bleak for a small tech business that used to provide products and services to bigger tech businesses (that are no longer there). We (I) have been stiffed on payment for goods delivered 6 times so far this year by companies shutting the door. This deleted all of the cash reserve and created mortgage level debt in about 6 months. I've about had it with the 7-day/ 14 to 16 hour day work week with nothing but more debt as payback. End of venting / whining..back to work.

[rockfish59]

Sole= Solve!

Yep, quite a deal I'd say. The old house is awesome and you can't see any prying neighbors!
Was there about 3 hours and maybe 5 cars went by on the road.
But I don't think I could hack 140" of rain per year.

[Ernest_at_the_Beach]

I need to see sunshine!

[rockfish59]

Summer is beautiful! Short, but beautiful!

[MizGayl]

Pssst! Don't any of you survivalist types leak that most of the people who left the Bay Area when jobs dried up were FROM somewhere else looking for easy money through stock options and the like.

Sure, some long timers got caught in the mess ... but most of us who have been here for decades have to admit that it was fun while it lasted. The Dot.Com bubble was a house of cards that brought mega spending into the area. Now we are just back to normal. That is also why housing is still high. Despite the tech industry and long before the tech industry its been a desirable place to live.

Bottom line though, don't count out the tech guys..... it ain't over yet and the comeback is a stronger, smarter, more solid industry.

One thing that is always for sure is progress. Nothing ever stands still. The Bay Area was falsely inflated for a short time as was the entire stock market. But the Bay Area is primo land and that won't change because there is no new land .... what you see is all we have. Even after large earthquakes, the area values drop only temporarily.

Frankly, I don't get it ... but the place always survives and comes back shining. I've watched it through these cycles my entire life. Those who weren't imported in for the bucks are still here. And life is good. Keep your eye on the Naz if you don't believe it.