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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Broken_Clock who wrote (186836)12/3/2014 1:48:34 AM
From: JimisJim8 Recommendations

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I should have clarified: it was during the contract renewal conversation that I was told the budget for my services was being cut in half for 2015. The contracts I've had with them have always been honored. Before I left to start my little enterprise, I'd worked directly for them and they were my first client after I left.

To be honest, they've long been my 2nd largest client (not my bread and butter) and the contract cut won't really hurt that bad since my wife is planning to retire in June and I'd been thinking I'd scale back then, too so we could travel more and start putting our retirement "relocation" plans into effect.

I have nothing but good feelings for that client, but they will probably be laying off a significant number of designers, techs, field guys, etc. and even a few jr. project engineers judging by my conversation with them concerning dropping sales this last quarter, and delays in current projects -- the delays being the only reason their backlog isn't also dropping dramatically.

But this isn't the first time they've had to cut back in the 12 years I've worked for/with them. Just wanted to illustrate the personal toll to actual jobs that an oil bust like this causes. People I know are going to lose their jobs -- people with young families. My loss is nothing compared to the people who will lose their jobs after Christmas.
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