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General Electric Company Message Board

  • witty_sweety witty_sweety Sep 24, 2008 10:27 AM Flag

    Hard to see financial meltdown, when people are spending like crazy.

    I am finding difficult to see the financial meltdown. Although I do not have a job. I believe that this is my crisis as I am senior pharmaceutical analytical development person and I understand that there is a problem there.
    However it is hard to see financial meltdown especially when new products coming into the markets are lower in quality and higher in prices. From home goods stores appliances to food to gas station and docs. office its hard to find parking spaces, customer service help or docs. appointments. Also, the prices of the services and goods have risen. So how to justify this. Even electronic goods are going up up and up in prices. People are shopping and buying 100 to $1500 cameras, as if there is no inflation and governments are acting as if there is no inflation.

    Now, my pain and worries are within me and my family. However, I see people spend more and more because of needs. Housing prices are holding in the good middleclass homes for 600k to 900K. So where is the crisis? When banks and finance institutions just last year paid some great bonuses, most of them above 120% of salaries. Howmany industries can boast that.
    I think what caught up with them was the hype and irresponsibility. But atleast they share what they make. Look at big pharma its not even in positions to recognize honest working people. They would rather stay with people who can take shortcuts and immediately give results. It was pure pain for me to see pharmacutical companies mixed up with this wall street euphoria.
    Same thing with small pharma and contracts labs are even worst....? I think with the way things are going worst is still far. Interest rates are too low, easy money is chasing things at an unreasonable rate. We need higher interst rates to put a stop to this imbalances. While most families are enjoying their mid life huge incomes. My family does not even have an insurance since 3 years nor 401k contributions nor a secure future let alone dreams of becoming a director or VP. I say the price to pay is in the route and team we choose. Sometimes fixing this rotton routes means building new routes and teams with different mentality people, broader understanding and honest management skills and a capacity to understand indepth. One must always know that short cuts are going to hit dead ends sooner while a team of thugs or quick fix, lip service people will only deliver lip services and a bag of troubles. But the beauty of todays work place is just amazing.. the leader who creates problems by not following the standard is later on touted for fixing up the mess that he and his team created. So where is the end to that?

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