Recession coming?

I keep reading more about recession warnings.

The stock market has been steadily dropping.

My work is still WIDE open trying to hire more engineers for all the projects it is taking on.

Anyone seeing a slow down in their business/line of work?
 
drkelly said:
I keep reading more about recession warnings.

The stock market has been steadily dropping.

My work is still WIDE open trying to hire more engineers for all the projects it is taking on.

Anyone seeing a slow down in their business/line of work?
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Pretty busy in the machine tool world. Pocketbook is feeling the pinch of inflation, but salaries and prices in my industry are not changing nearly as fast.
 
drkelly said:
I keep reading more about recession warnings.

The stock market has been steadily dropping.

My work is still WIDE open trying to hire more engineers for all the projects it is taking on.

Anyone seeing a slow down in their business/line of work?
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Never been busier in the 38 years our business has been open.
 
Record year over record year.
The crash is coming.
If we keep on Predicting it, eventually we will be right.

Jody, I and anyone else in commercial construction will feel it about 4 months before anyone else believes us - if history tells me anything
 
Lots of tech companies recently have slowed down hiring or laid off but they are still meeting their goals. I think it’s the companies that over hired like crazy due to pandemic growth and didn’t think about the fact that, that wouldn’t last forever.
 
Ron said:
Record year over record year.
The crash is coming.
If we keep on Predicting it, eventually we will be right.

Jody, I and anyone else in commercial construction will feel it about 4 months before anyone else believes us - if history tells me anything
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And me being 8 months ahead of y'all on bid day, I can forewarn you.. but as of now I'm with Jody. I don't want to mention my work load or Cyd will call me out on it 😎 but... We busy
 
I saw the typical freight drop in August and Sept. Rates are low for the trucker right now from my point of view. One of my direct customers keeps putting off shipments because they can't fill the orders and the other is asking us to rebid when we usually have yearly bids. Brokers are raping trucks right now IMHO. I can't get a decent rate out of Florida when I was getting really good rates there. So yes I saw a typical slow down but seemed slower than normal and the low rates went lower.
 
My son works for a local automation/fabrication company. They are just beginning to see some slow down, some clients pulling quote request and a couple have stopped projects.
 
ghost said:
I saw the typical freight drop in August and Sept. Rates are low for the trucker right now from my point of view. One of my direct customers keeps putting off shipments because they can't fill the orders and the other is asking us to rebid when we usually have yearly bids. Brokers are raping trucks right now IMHO. I can't get a decent rate out of Florida when I was getting really good rates there. So yes I saw a typical slow down but seemed slower than normal and the low rates went lower.
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Freight out of Florida has always been dirt cheap.
3 of my suppliers are there. Ive always heard florida doesnt produce much but consumes eveyrthing so lots of empty trucks leaving
 
Ron said:
Freight out of Florida has always been dirt cheap.
3 of my suppliers are there. Ive always heard florida doesnt produce much but consumes eveyrthing so lots of empty trucks leaving
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Yes this is generally true. However it seems that the Governor is pushing to bring industry to the Sunshine State. I speak from experience when I say 10 years or more ago it had nothing like it does now. The fact that I can even load a truck on daily bases and get fuel cost out is a whole lot better then no money at all.
 
ghost said:
Yes this is generally true. However it seems that the Governor is pushing to bring industry to the Sunshine State. I speak from experience when I say 10 years or more ago it had nothing like it does now. The fact that I can even load a truck on daily bases and get fuel cost out is a whole lot better then no money at all.
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Reefers, vans or flat beds?
 
Ron said:
Reefers, vans or flat beds?
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Refers are seasonal in Fl. We have a couple. I run 3 vans. We use to run a bunch of leased flatbeds but don’t any longer. So I’m referring to van freight. There is a Pepsi plant in Tampa area. A sugar plant in Clewiston and I’ve recently learned they ship a lot of recycled material out of south Florida.
 
ghost said:
Refers are seasonal in Fl. We have a couple. I run 3 vans. We use to run a bunch of leased flatbeds but don’t any longer. So I’m referring to van freight. There is a Pepsi plant in Tampa area. A sugar plant in Clewiston and I’ve recently learned they ship a lot of recycled material out of south Florida.
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Get you a hopper bottom. I've got 150loads of corn in Kentucky I need brought in
 
ghost said:
Refers are seasonal in Fl. We have a couple. I run 3 vans. We use to run a bunch of leased flatbeds but don’t any longer. So I’m referring to van freight. There is a Pepsi plant in Tampa area. A sugar plant in Clewiston and I’ve recently learned they ship a lot of recycled material out of south Florida.
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Father in law ran 18 reefers for 40+ years. Palmetto FL - NC was 7 months a year then bluffton sc to nC and finally a few months of running west to phoenix and CA

I book ~ 10 fl to sc/nC flat bed loads a month
 
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Ron said:
Father in law ran 18 reefers for 40+ years. Palmetto FL - NC was 7 months a year then bluffton sc to nC and finally a few months of running west to phoenix and CA
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My dad started in the industry driving a B -51 Mack iirc. He said in the they’d haul produce out of Florida up to Hunts Point Market in NYC in refers. They’d have ice in the nose of the trailer with fans blowing over it to keep it cool.
 
I’d bet FIL and your dad knew each other.
FIL said when stated driving he had to get a chauffeur license to drive a big truck ….cdl didn’t come around for many more years.

He’s also got some crazy stories about the 70s… said his record was 13 days before he laid down.
 
Ron said:
I’d bet FIL and your dad knew each other.
FIL said when stated driving he had to get a chauffeur license to drive a big truck ….cdl didn’t come around for many more years.

He’s also got some crazy stories about the 70s… said his record was 13 days before he laid down.
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Probably did. Dad ran a warehouse in Newark in the 70’s. When I tell people I spent my summers in Newark, NJ in the 70’s I get some weird looks. Lots of stories there.
 
We've been car shopping as late. Went by KIA and their stuff has dropped by $3000 on the Sportage and they have a few on the lot. Went by Toyota and they actually have about 20-30 new vehicles. Both places said that foot traffic has been very slow.
 
2 quarters of negative growth, we are in a recession now by historic standards( pre Biden admin). Inflationary spending and people having high credit limits has kept us going for a bit, but when the piper comes to collect there’s a lot of people living outside their means. Wages haven’t kept up with inflation, but back in the day (10 years ago) a nice home was $250k cell phone bill $30, gas $1.80, new car $15k etc etc. how are so many people affording new cell phone yearly on $100 plan, $30k car at 3%, $400k+ houses and vacations etc. when you borrow outside your means it catches up eventually. There are reports that a large percentage of Americans are floating credit cards to buy gas and groceries. We have gotten used to a good economy and luxuries that this economy doesn’t support.
 
That does not negate that recessions are the best time to grow wealth if you have time, any capital projects done today will pay dividends when the train reaches full speed again. I’m just talking about the lower to mid middle class loosing buying power
 
Shreddinlettuce said:
2 quarters of negative growth, we are in a recession now by historic standards( pre Biden admin). Inflationary spending and people having high credit limits has kept us going for a bit, but when the piper comes to collect there’s a lot of people living outside their means. Wages haven’t kept up with inflation, but back in the day (10 years ago) a nice home was $250k cell phone bill $30, gas $1.80, new car $15k etc etc. how are so many people affording new cell phone yearly on $100 plan, $30k car at 3%, $400k+ houses and vacations etc. when you borrow outside your means it catches up eventually. There are reports that a large percentage of Americans are floating credit cards to buy gas and groceries. We have gotten used to a good economy and luxuries that this economy doesn’t support.
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This is why I don't mind driving a POS truck and having an older phone. All our vehicles are paid for. We have no credit cards. Only debt is our house.
 
I have a 2003 Camry with 180k and my jeep will be paid off the first day I drive it since I’ve bought things over time. There’s a difference in managing money well and over extending yourself
 
Ron said:
FIL said when stated driving he had to get a chauffeur license to drive a big truck ….cdl didn’t come around for many more years.
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Some of the guys I work with still has a copy of his chauffeur license. When I started here 11 years ago I was the youngest by 20 years...
 
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