The economic downturn–who is feeling it?

Jamie has been consulting at a great company for several months now. There was talk of bringing him on as VP and giving him stock in the company, which they are hoping to sell off in a couple of years. All in all, a great situation.

But then came the economic downturn.

Small businesses seem like they’re the first to get hit and Jamie’s company is no exception. They are in a situation where they are wrapping up with their current clients (who are past due on hundreds of thousands of dollars) and have several pending contracts. Lucrative contracts. It’s just no one is signing until they see what happens with the economy.

Jamie’s boss told him last week until these contracts came through, they can only afford to keep him as a part-time consultant. The frustrating is we have no idea how long this will last.


We’re not too worried yet because at least it’s something. It’s just all the extras like Christmas and our basement that is almost complete. Rumor has it our contractors will want to get paid and our family will want presents.


Jamie and I have already decided to forgo our gifts to each other and I’m sure more sacrifices will need to be made. It just makes me wonder who else is feeling the pinch? Until two weeks ago, we weren’t feeling it at all and it’s amazing how everything can change so quickly. Have you been affected by the economic downturn or has it been business as usual?

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