How badly has your business suffered in this economy? - Page 8 - The Unofficial BMW M5 Messageboard (m5board.com)

Michael_s · 15th February 2009, 02:06

I am in the correspondent lending business. First 3 quarter of 2008 were ugly. Last quarter of 2008 and YTD 2009 is pretty good. Interest rates are good (for now) and people are coming out of the wood works to refinance at 4.5%. Our company is licensed in 25 States which helps a lot. If I was Florida only I would be out of business. I am also part of a development group building apartments in TN. We were lucky to close on our construction loan last year. The bank tried to pull our but we made it happen...... Can't wait until the first phase of the apts are done this summer......thank god we didn't do Condos..... I hope everyone on this board and their families hang in there. Please remember that health and happiness cannot be bought or sold.

M5Ranger · 15th February 2009, 02:29

Quote:

Originally Posted by AlbertM

I am in the software business and things are patchy, some are doing ok and others are not. Unfortunately things will most likely get much worse before they get better. Check out this book "America's Great Depression" excellent analysis on US depression in the 30s. We are repeating the same exact mistakes, we are propping up failed institutions -- take money from the competent and giving it to the incompetent. Whatever happened to the free markets and capitalism? I have absolutely no confidence in anything that the gov is doing. People in charge don't pay taxes yet, they preach that we should ... What happened to us???? Trilions of tax dollars are being spent in a rush under a "fear" pretext... and everyone is silent.

What we have now is the worst kind of socialim where porfits are private and lossed are public.. What kind of f...ed up system is that?????

Unreal...

I agree with you and believe it. We are being submitted to this socialism by Obama and his administration.
This country is circling the toilet bowl.
We are going down under the "messiah" Obama.

Ranger

Barry Lausch · 15th February 2009, 02:36

Quote:

Originally Posted by M5Ranger

I agree with you and believe it. We are being submitted to this socialism by Obama and his administration.
This country is circling the toilet bowl.
We are going down under the "messiah" Obama.

Ranger

Believe what you may let's not forget he is the President we elected and he needs everyones support and prayers.

alpywhite · 15th February 2009, 03:59

Quote:

Originally Posted by canysmc

Only a 20% hit, be glad.

Most businesses are taking 40-90% hit

+1. I seem to hear 40% across a broad range.

shorts · 15th February 2009, 05:33

Right now the only way to garner a return during the flat market is writing calls on your existing holdings. Been doing that the last few months, get paid to wait for the bull market to return. I am averaging about 1600-1800 a month in income from this thanks to the high VIX. I am reinvesting it though to take advantage of compounding/lower share prices and increasing my holding. I write near month contracts to take advantage of time decay. My portfolio is strictly SPY (S&P 500 ETF) + my call contracts on them of course.

We will get out of this slump eventually, we always prevail. The worst thing you can do is panic and make a bad decision.

DRM · 15th February 2009, 09:04

Quote:

Originally Posted by RonM5

After reading a few pages I feel guilty ... I have a medium sized bakery - retail + wholesale business supplying cafes like Starbux etc. Our sales are up 28% YTD due to our competitors falling over in service & quality. While some industries here are definately hurting, our industry is normally unaffected by economic conditions. Our customers see a coffee and cake slice as small indulgence or reward during a day so if anything, our sales usually increase.

Humans have to eat ....

Gee, live in New Zealand and have a thriving business, too. Is the personal/business income tax load very heavy there?? Is immigration from U.S. retirees welcome there?? With the new U.S. gov't, I'm looking to bail from "The Peoples Republic of USA", asap.

DRM · 15th February 2009, 09:13

Quote:

Originally Posted by FallbrookM5

not all is bad...I finally got a new job !...making 2/3 of my old job, but it beats nothing by a country mile. Besides top ramen was my favorite dish anyways

Kids in public school any ways etc...but i will be darned, looks like I can keep my M5

Good to hear, Claus.

DRM · 15th February 2009, 09:31

Quote:

Originally Posted by M5Ranger

This country is circling the toilet bowl.
We are going down under the "messiah" Obama.

Ranger

Don't forget the 535 idiots in U.S. Congress. 99% of them didn't even bother to read the 1170 page, ~$800 BILLION "stimulus" bill they voted on, and passed yesterday. House/Senate leadership conferees made sure there was no time. What a freaking joke.

Remember, POTUS can't impose a single $ in taxes, nor spend a single $. Only our *brilliant* and *astute* elected representatives/senators have that power.

Barry Lausch · 15th February 2009, 15:31

Quote:

Originally Posted by DRM

Gee, live in New Zealand and have a thriving business, too. Is the personal/business income tax load very heavy there?? Is immigration from U.S. retirees welcome there?? With the new U.S. gov't, I'm looking to bail from "The Peoples Republic of USA", asap.

Good news!..........You're welcome to leave anytime you wish.

M5Ranger · 15th February 2009, 22:40

Quote:

Originally Posted by Barry Lausch

Believe what you may let's not forget he is the President we elected and he needs everyones support and prayers.

Your basic premise is correct BUT unfortunately I can not forget he's the president and I did NOT elect this guy.
My point is very serious and not one of anger.
Why should I agree with and willingly accept the presidents plan when it will be an utter failure.
They are not willing to read history. Consequently they will repeat the failures of the past.
I am sorry but I will not drink the socialist koolaide.
The president is being grossly ill-informed by the left wing of the party. They will not allow him to gonern for the center and be logical.
Bottomline I will not accept what he's selling. I know the left will demonize anyone who questions the president. WTF since when can there not be opposing voices!!!
I know many of you put this guy in a messiah status. For me he is no different than all the slick snake oil salesmen in Washington.

This will be a major wakeup call for the nation.
Hate me, wish me ***** go right ahead (I've been there) but this will be a colossal failure and it is only the beginning. This "bill" contains NOTHING to address the housing / mortgage disaster. That will be another trillion.

People get use to it. We are doomed by the hand of our gov't.
Comrades

Ranger Go ahead start throwing flames.