I'm not sure I agree with this article.
Sure, manufacturing, what's left of it, will suffer.
And yes, boom towns like Vegas and Phoenix--where the boom was based on the boom so to speak are in trouble.
But vibrancy returning to NY? I don't see it. The publishing industry has been decimated. Though I haven't been personally affected yet in any major way, I'm sure I will be down the line in terms of the kind of advance I can garner. Meanwhile, one magazine I write for went bankrupt, another slashed its staff to the absolute minimum, unceremoniously firing my editor right before she was to get the employee of the year award (and she'd been there 15 years), and the editorial director/editor of a current book project was fired last week. None of this was based on merit, all based on financial crisis. My agent's wife was cut to a four day week along with all her colleagues so they didn't have to fire anyone. Blood has been rolling in the streets in publishing with tons of layoffs, with divisions folding etc. I'm sure the same is happening in all other areas of the arts. Tell me how the magic of NY is going to come back and flourish? I don't think so. And just because housing prices have not yet plummeted, they are falling and will continue to fall. Moreover, lots of folks who bought in the last few years and stretched themselves are going to be defaulting, meaning that condo boards just won't be getting their monthly payments...and condo and coop boards themselves are cutting services...to save $ on operating costs in buildings...
I think this writer is off base...
And I don't necessarily think the cultural corridors are the place to be, as lots of people will be unemployed and lots of people willing to work for less. A friend works at a place where shortly after being given a christmas bonus his colleague was fired and someone was hired for $1/hour less.
Etc.
I'm not complaining--I'm really glad the air is being let out of the corruption. But I don't think this piece reflects reality. Last depression we were still a good manufacturing company. We made really quality stuff. That got us through. |
