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General Electric Company Message Board

  • stockwiz10 stockwiz10 Jul 10, 2009 4:01 PM Flag

    Anyone on this board from california?

    If so, Is it getting better out their or is it getting worse..
    I am asking because the media is full of shit all the time. Just want to get the true story.

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    • the weather is great.

      on the other hand, kalifornia has been ransacked. it has become a sanctuary for illegal aliens. along with the expense that that represents (health care, education, police, jails, prisons, infrastructure etc.), the big-gov lefties have no leaning toward keeping the balance sheet balanced; fiscal sanity is lost on big-gov lefties.

      on the other hand, the weather is great.

      20% in Los Angeles County receive public aid (nearly 2.2 million people; that's just in la county!)


      on the other hand, the weather is great.

      the city streets here used to be seal coated every two to three years; now there are pot holes and gravel flying everywhere.

      on the other hand, the weather is great.

      the big-gov lefties recently tacked on more taxes.

      on the other hand, the weather is great.

    • Hi: I'm in the South Orange County area and I'm an insurance broker. The small employers (50 and under - our market) continue to be stressed with no/very limited access to small business loans and therefore continue to cut employees. I have a client whose business is literally collapsing because they can't collect on receivables from their clients. Their business was previously in great shape and not one that should have been affected too much because of type of industry, but $hit rolls downhill and their clients can't get small business loans either. They are having huge problems making payroll as well as insurance premium payments. The owners house is getting closer to foreclosure because they can't get paid. They have always had excellent credit before.

      We hear numerous stories like this. Naturally, it's affecting our business as well. We have a direct pulse on the jobs situation here working with these small employers. If they could only get access to small business loans, the wheels would start turning again, but the current admin. has it all wrong as Biden admitted. They need to stimulate small business with tax cuts and loans to get this economy going again as that's who employs the majority 80+% of workers in this country.

      Other than that, malls in the area have a lot of vacancies. Simon Properties runs the local one and shops seem to come and go frequently. Sometimes when I see a new one opening, I wonder what the owner is thinking in this environment. An old Mervyns store in a strip mall sits empty down the street and there's another one about 5 miles north of that also empty. No takers on that space.

      Restaurants in the area are hurting too. I've been getting a lot of email coupons from a local upscale Italian place to the point where the emails from them are almost in a frenzy. I suspect they're having trouble too.

      On a positive note, the weather's great! LOL

      • 3 Replies to livnintheoc7111
      • I lived in Los Angles and San Francisco from 1967 thru 1969. Both cities were good then. I worked at Lockheed. I must say that it was before OSHA, and the working conditions were terrible! I still have trouble hearing and breathing from the work I had done there. Now I don't think I would even want to visit because of the population problems. It's interesting that when I was working out at a health club, that in a magazine they had a picture of Schwartznegger--an up and coming Austrian. Who'd ever think he'd rise to be the governor of the state. What California needs to do is either raise taxes on the rich or tax properties based on their full market value. I never could understand the passage of such a stupid law.

      • Thanks. I know a small bus insurance broker here in NJ. He is saying the same thing. Also, most of his time is chasing the premiums that are owed.
        Malls are dead here too. Food establishments are still busy on the weekend. I guess we hate to cook in NJ.
        Their are not that many homes up for sale yet in my area but I think it may do to people can't sell at these prices. On a brighter note I see 2 people in my neighborhood putting inground pools in.
        Nj is a bit strange, hard to read the economy here, but I live in the top the income counties in the country.
        We usually lag california by 1 year. So the shit has not totally hit the fan yet.
        My wife's company though looks like it is in trouble and more layoffs will start again.
        She has been there for 20 years, and has never seen anything like this.
        Good thing I have no mortgage for this recession.

      • You brought it on yourself, go to ny they are next< you can do a double

    • yes, i am FROM ca,saw the handwritin long time ago was a small business man and couldn't handle all the b.s. tha state wanted of me happy i moved

      • 1 Reply to amlatorre80
      • Things will be difficult here for at least 2-3 years out. I Recently got laid off from my job selling construction supply, company revenues fell off a cliff in last year or so. Commercial is way overbuilt...20% office vacancies. Unemployment to 11 or 12 by next year...New wave of foreclosures might drop home prices another 15%,retailers are dying a slow death. On the bright side..places like San Diego,where I live will bottom out and the buying opportunities will be awesome...This is the USA's best city to live in by 10,000 miles, weather/scenery/women/leisure options are second to none. Cowabunga!!!

    • russwilde@sbcglobal.net russwilde Jul 10, 2009 4:30 PM Flag

      Real estate prices are low but not declining further sales are very slow but inventories are down in my immediate area. employment @ 10% but again could be stabalizing ; IT and medical are adding jobs !construction and related industries are terrible, however some signs evident that it may be getting microscopically better ,but profit margins are little to non existent. Still no state budget and state workers are being cut; not such a bad thing given that 90% of them are fat and lazy and Arnold is cutting services in the hope that all the illegals go home......Hey but its still California. Hope it helps.

    • depends on "what" is getting better or worse? Economy still slow and employment down. Housing in overheated areas still declining, while a very few solid areas are holding due to very few sellers.

      • 2 Replies to conais
      • I'm in the SFV of Los Angeles (Reseda, Tarzana, Encino) and see plenty of empty homes, many without REO or realty signs, so appear to be shadow inventory.
        I saw an MLS sales chart last night in my real estate class, and there were approx. 1,800 sales in the SFV during the last month, prices were mainly in the $500k and under range(but I'm not certain it that was the actual selling price range) which was a $180k drop from the prior year sales price for comp. units. Based on those figures, I'd buy from a foreclosure broker or bank directly, much lower prices; some I have seen recently on real estate sites around the state are listed about 60 to 70% less than current (and fairly accurate) Zillow.com listed value.

        Unemployment is still high, and the jobs I'm seeing are in the $10 to $15 per range for AA and secretarial, many are PT. Can't buy a $500k home on $15 bucks an hour, so I expect that prices will continue to drop another 20% minimum in many areas.

        CRE is a disaster; Ventura Blvd. has empty storefronts on every both on either side for miles, I saw ONE (1) space finally have a "LEASED" sign. And the story gets even more dismal each street back from the main blvd. further into valley. Other areas of Los Angeles and surrounding communities are taking the same CRE hit.

        The Upside is: If I can make enough cash in the market, I can buy a REO for a super price, eventually. Doubt if I'll be finding a day job anytime soon; too much competition, even at the low to mid paying jobs. Great year round weather! God Bless America.

      • Yeah so goes California so goes the rest of the country. They lead
        the way.
        We will soon be using IOU'S to pay our bills.


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