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Recession --- Its Time You Ended

Guest post by: Dr. Rick Johnson

Article Overview: We should have recognized the signs. We should have seen the red flags. Thousands of employees were being laid off. Now, we are told things are starting to get better. We are in recovery, albeit a "Jobless Recovery". Give me a break. Every time I hear that term I want to puke. Until the unemployment rate decreases in the majority of our states - we will all feel the results of the recession. Tell those people in the unemployment line that the recession is over and risk getting punched in the face.

Recession --- Its Time You Ended

Some economist were predicting this current recession for years. I distinctly remember reading numerous articles about the housing bubble and when it was going to burst. Every year they have been wrong. 2005 was supposed to be the year when things really started to slow down then 2006 & 2007. Low and behold, 2006 & 2007 were banner years. Those in the building supply business were sitting around smiling as they counted the profits. I am not an economist, thank God, but the economists finally got it right. 2008 started giving them credibility as signs were beginning to show that may indicated the slow down in the housing boom. And of course, the auto industries problems, specifically General Motors with their layoffs and plant closure announcements just added strength to this conjecture. We were finally told that the recession started in December of 2007. What's the old saying? "So goes General Motors, so goes the economy." That was the next big axe that fell above and beyond the financial bailout of the banks. General Motors, Chevrolet and Apple pie --- on the verge of bankruptcy. OMG!!! What next.

We should have recognized the signs. We should have seen the red flags. Thousands of employees were being laid off. Now, we are told things are starting to get better. We are in recovery, albeit a "Jobless Recovery". Give me a break. Every time I hear that term I want to puke. Until the unemployment rate decreases in the majority of our states - we will all feel the results of the recession. Tell those people in the unemployment line that the recession is over and risk getting punched in the face.

Recession Creates Change



This recession has changed the way we think, the way we feel. In fact it just may have changed the very fiber of our being as individuals. For example, it used to be extremely embarrassing to have to use food stamps at the grocery store. I know this from personal experience as a kid growing up without a father. I refused to go to the store with my Mom simply because I didn't want anyone to see us using food stamps to eat.

Another example can be found by looking at the number of people facing foreclosure on their homes. Homes were always considered your castle. It was the one thing that you protected from any kind of threat including a financial threat. Today, many people have just walked away from their homes because they were upside down on their mortgage. They owe more than what their home is worth. Although, it still causes stress and it is a devastating experience for those who must go through it, it happens so much that today walking away has become a viable option.

Bankruptcy has also lost its negative revere position in the market place. You used to be considered a failure if you had to declare bankruptcy. Today millions of people are filing bankruptcy predominantly driven by hospital bills and lost employment.

What about College



I can't imagine being the father of a family with three or four kids and thinking about how I am going to pay for their college education. The ability to save money weekly and putting it in a college fund is quickly becoming a thing of the past for the average person. My daughter teaches at a private college in Ohio (University of Dayton) and I shudder to think of the cost to attend some of our Universities today and what they may cost ten years into the future.

We Are All Affected

There are very few areas in our lives that this recession hasn't touched. Businesses have developed contingency plans. Cost control has become the new priority in almost every corporation. Reduction in Force has unfortunately become a strategy. Many senior citizens are making choices every day on whether to continue buying their medicines or buying food. The financial world has bitten the hand that has fed them for years by tightening credit requirements for small businesses. Many have had to close up shop. However, many have been able to grow their business in spite of the recession. Growth measured by market share and not necessarily top line revenue. These are the businesses that had effective leadership at the helm. No. I don't believe that the recession is over. However, I still believe in our free enterprise system. I still believe in the resiliency of leadership in our industry. I still believe in the work ethics and the dedication of employee working for effective leaders.

Yes, if you are reading this article, chances are you are a survivor. You are still alive and kicking and have not allowed this recession to control the future of your company. The sky hasn't fallen and the future will bring success to those who are committed and continue to employ best practice.

So.... This article isn't intended to preach doom and gloom. Although it speaks of reality my intent is to remind everyone of you that we control our own destiny. Small business is the backbone of this country. We have been through recessions before and we have always come out of them stronger with more prosperous years ahead. I know that will be the case for this recession as well. Keep that positive attitude, promote trust and respect within your individual company, prioritize your initiatives and truly empower your employees and you too can come out of this a winner.

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Article Tags: economy, leadership, recession



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