Thursday, December 4, 2008

Economic Turmoil As These Doors Close, Which Ones Will Open?

I consider myself a very optimistic person. As I watch our economy deal with a recession, it comes with many costs. And unfortunately the list of layoffs keeps getting longer:
AT&T - 12,000 workers
Motorola - 3000
Viacom - 850
Adobe - 600
NBC - 500
Comcast - 300
Ticketmaster - 300

And more announcements will come very shortly.

It has already affected consumer spending and retail is facing it head on. Bankruptcy is touching Linen and Things, Circuit City, Bally's, and perhaps soon one or more auto manufacturers.

I am empathetic to those affected by this retrenchment. Change does not always mean growth; sometimes it requires a step backwards before driving ahead. But I remain optimistic, even as this list is sure to expand, that the economy, and us as individuals, will be stronger and healthier in the long run. I remain optimistic that even as one door closes, another opens.

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