Shit
- Thread starter Glaucus
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Glaucus said:
Whatever money you have, buy canned goods and a tent. If the gambling industry is crashing then it's all over.
(Or it's temporary, in which case, don't panic).
Apparently down south they are going through a second big job loss as governments start to lay people off in large numbers. Since it was government hiring all through the Bush years that made up the biggest part of slowing the unemployment growth things are about to get ugly. If the governor of Wisconsin thinks things are bad now, wait until he has a half a million people with nothing better to do than hang out around Madison full time.
However, I hope things work out for you. This is Canada, and Harper hasn't been made our king yet.
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Done. Took all my cash and bought a winter-proof tent and enough canned food to feed the Canadian army (it's a small army). Check.FluffyMcDeath said:
Doh!
Hmmm not very reassuring.
Me too. I'm getting ready to apply to a job in the medical industry. They're looking for C++ & C# developers. I know the former and hopefully that's good enough. As a bonus I know a guy who works there.
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Glaucus said:
Medical, that's good.
Was your company a US company or were you primarily doing business in the US? Because, if so, I can imagine that the exchange rate is a bit of a bone of contention at the moment. I know when our office was bought by a US company they couldn't believe how cheap we were. The Canadian dollar at the time would buy about 63 US cents. Since then we have gone to pretty close to parity and right now one Canadian dollar buys about 1.03 US. It's kind of annoying watching gold climb over $1430/oz in the US but still have it under 1400 Canadian.
Good thing the Bank of Canada is holding the rate down for a while. They pretty much have to hold it down for the foreseeable future too if they don't want the Canadian dollar to go galloping ahead of the US. The US can't afford to raise rates right now so we can't.
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Both actually. It used to be all operated here in Canada but for some reason they moved to the US. Only the R&D department is in Canada, manufacturing is in the US. You'd think it would have been the other way around.FluffyMcDeath said:
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Glaucus said:
I'm not surprised. Unskilled labour is cheaper in the US and skilled labour is cheaper in Canada. Our compensation structure is more compressed. Executive compensation is much higher in the US which is why several Canadian companies opened offices in the US, so the executives could move over the border and pay themselves a gazzillion times more. That's what Nortel did. Look how that worked out for them.
There are also tax tricks you can play across the border like structure your internal finances such that you have costs in the higher tax jurisdiction and profits are made in the low tax jurisdiction. In your case I imagine that if they manufacture and ship the machines in the states then that is where the profits are realised. Your R&D will be revenue neutral or even a loss in Canada. That's the beauty of Free Trade (TM).