After a quick trip to the store, I have some breaking news. At a 10 AM meeting held at Gulfstream this morning, it was announced that six hundred direct employees and six hundred contractors will be laid off, and employees division-wide will be required to take five weeks off in July.
It is certainly not a good sign when a supposedly recession-proof industry is taking a financial downturn. I mean, the rich have to have their jets, and when you take into account that many orders for the jets in production now were ordered probably years or months ago, and that theoretically the economic downturn shouldn't have effected Gulfstream for years or months, considering the turnaround on the production of a jet.
Unfortunately, this theory doesn't hold water, and Gulfstream is suffering the same financial tribulation that the rest of the world is suffering through. But this is a perfect example of where the Government has it wrong. When things get financially tight, you do not go and expand your facility, hire new employees, design new jets, or expand services. You cut costs, cut services, lay off employees; you downsize. Yet the powers that be have decided to expand, spend, develop new programs, and increase the amount of government we are surrounded by and tax us into obliteration. All the while, offering to bail out everyone under the sun.
This is further proof that our government is morally bankrupt, soon to be fiscally bankrupt, and now are tactically bankrupt if they think that spending us out of a financial situation is any way of fixing a problem which developed due to poor money management.
13 years ago
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