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Re: OT- random observations re the economy


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Posted by NY 986 on August 19, 2010 at 06:34:24 from (69.171.170.92):

In Reply to: OT- random observations re the economy posted by Mike (WA) on August 18, 2010 at 16:41:46:

The economy continues to lag here in Western NY. My brother-in-law was forced in to being laid off with early retirement to kick in about 1 1/2 years in the future. Worked for GM Delco (Delphi) in Rochester, NY for 27 years. He is talking about moving to the Carolinas as he does not think he can afford to live here long term.
Barn repair guy I saw at Empire Farm Days said he is now driving 4 hours plus in any direction to get same business volume he had 5 years ago only driving 1 to 1 1/2 hours in any direction. Lots of contractors (housing and construction) with reduced business and frequently laid off employees.
One of the nearby NH dealers has said his business is way down. Dairy guys have been hurting for a couple of years now and I have heard they did not get the price bounce to the extent they were hoping for in the spring. Increased cost of inputs have offset most of the gains in commodities the past couple of years and there is an insane bidding war on rent going now.
A couple of posters have said the equipment dealers have compensated for ag equipment volume decline with compact tractors and lawn equipment. Judging by the inventories in the yards versus a few years ago that is not the case here. People are losing jobs faster than places like retail stores can absorb them (which is not a long term solution, anyways). The few big spenders in the farm economy here are niche guys (vegetables and a few grain), recent arrived Mennonites (getting 250000 dollars or more an acre from selling out in PA, or wheeler dealers.
A couple people I know have summed it up well by saying the only people doing well are people who have retired with good benefits or those who are working for the state or federal governments. The only problem with retirement money carrying the local economy is it tends to run out sooner than later or moves away.


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