Thursday, March 5, 2009
World Economic Meltdown Reaches CM
Yesterday my girlfriend called me from work, which she doesn't usually do. It turned out she had some rather dire news. The jewelry factory where she works as an accountant is shutting down. The falling demand for jewelry in China and the US has caused the owner to pull out of northern Thailand. I was full of commiseration, trying to be understanding, etc. Then she told me, "Oh, it isn't so bad. If I am not working, maybe I will go back and get my master's degree." So it might not work out badly for her at all. Anyway, the plant will close in early May (Thailand has a 60 day plant closure notification law), but she will stay on to wrap up the accounts until July. So she has time to make a decision.
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I am glad to hear that she has options. Too bad about the plant though. I am sure that many people will not be so fortunate!
ReplyDeleteI'm sure they won't be as well.
ReplyDeleteDay after day after day I see the markets down a few percent, Asian included. General Motors stock costs less than a BIg Mac, and citigroup is a buck, and, according to some folks who should know, not worth even that much.
ReplyDeleteI am glad your friend is not devastated by the news.
I forwarded to your lil sis an article about what can happen to bloggers in Thailand who are disrespectful in some way. Hope it found its way to you. If not, don't be.
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