sad state of affairs, Economy

[Mike P]

Not trying to start an economy thread but my current employer of the last 10yrs is struggling bad in these times. I work in the Plastic thermo forming industry. Material prices on resin for Polypropylene have risen over 100% from this time last year, production lines have been shut down and they laid of 43 people last Tuesday.

I'm in a position that would most likely make it past any lay offs but I'm struggling now with life altering decisions. It's a weird karma but once again a few opportunities have came my way from other companies right at the peak of slowness from my current employer. Over the years I've passed up other jobs that have sought me out but this time I'm thinking VERY hard about moving on.

I'm am the typical male, I am afraid of change but I'm confident in my abilities and feel like I can adapt to whatever is placed in front of me.

One opportunity is decent with no relocation involved and coming in the door with equal pay to what I make now, with better/cheaper benefits, 20% increase with in 12 months after completing their personal training that's catered to their specific product.

The other offer would require a relocation to DFW TX, 20% more in the door, paid relocation and a few other perks but would include my wife having to find another job and the dreaded relocation of the kids. I grew up in my school years relocating almost yearly following my mothers career and I hated it. Not sure if I want to do that even once to my kids.

Being in the position I am I'm privileged to information most aren't. I honestly don't know if my company will pull through this time. We make commodities that have many competitors and of course there's China :angry2: that is under bidding most on every thing even though the quality sux. The job offers I have in front of me now are still in plastics but are specialized products with next to zero competition.

Just soap boxing a little.

Decisions......... decisions

 

[Geezer]

An opportunity is a door that only stays open a short time. You will find yourself on one side of that door or the other when it closes.

I stuck with my employer through some very difficult times that almost caused us to shut down completely. My reward was a very long stretch with no increase in salary and I have never caught back up.

 

[Mike P]

An opportunity is a door that only stays open a short time. You will find yourself on one side of that door or the other when it closes.
I stuck with my employer through some very difficult times that almost caused us to shut down completely. My reward was a very long stretch with no increase in salary and I have never caught back up.

The one job that is here in town I interviewed with back in January also but turned it down. I was sold on the company and every thing about it but not so much on the job they wanted me for at the time. This time they called me out of the blue last week with a better position and sold me on it rather well.

 

[ShawnKing]

The other offer would require a relocation to DFW TX, 20% more in the door, paid relocation and a few other perks but would include my wife having to find another job and the dreaded relocation of the kids. I grew up in my school years relocating almost yearly following my mothers career and I hated it. Not sure if I want to do that even once to my kids.

Have you asked them? We moved a lot when I was a kid too and some of the moves were great. You don't say how old your kids are but they might like the "change of scenery".

 

[Low Level FJR Pilot]

I would say go for the move to the new company. As for which company, well, you need to do some weighing. Will the cost of living in DFW even with the 20% pay increase end up being a wash or will you still make more in the long run? If you own your home, will you be able to sell it without taking a loss, especially if the economy in your town is taking a turn for the worst and people are losing jobs? This could be a wash for you in the long run or the DFW job could end up costing you more in the long run. My .02. B)

 

[Mike P]

The other offer would require a relocation to DFW TX, 20% more in the door, paid relocation and a few other perks but would include my wife having to find another job and the dreaded relocation of the kids. I grew up in my school years relocating almost yearly following my mothers career and I hated it. Not sure if I want to do that even once to my kids.

Have you asked them? We moved a lot when I was a kid too and some of the moves were great. You don't say how old your kids are but they might like the "change of scenery".

Yes I have asked them, they don't want to which makes me definitely not want to force anything on them. They are 14 and 21. The 21yr old is just getting out on her own and doing well but we still help her out while she is still in school. If a relocation were to happen she would probably be okay with it but my wife and I wouldn't being away from her. Not at this point in her life.

 

[Mike P]

I would say go for the move to the new company. As for which company, well, you need to do some weighing. Will the cost of living in DFW even with the 20% pay increase end up being a wash or will you still make more in the long run? If you own your home, will you be able to sell it without taking a loss, especially if the economy in your town is taking a turn for the worst and people are losing jobs? This could be a wash for you in the long run or the DFW job could end up costing you more in the long run. My .02. B)

The home thing is another issue. Of course we all know the market sux right now. Trying to sell a home in this area right not is not a good option. I have friends all with very nice 2500-4000 sq ft homes that have been on the market for almost 2 years. That waiting is not an option for me.

I've looked at the C.O.L. in DFW and it's not bad at all IMO. I may at least take the DFW company up on the free flight down there to check out the facility then scope out some homes in the area.

I'm also going to give my wife the week to look around in DFW as she is in the upper end of telecommunications to see if she can find anything worth her time as she makes a better than average salary for this area.

Either way good or bad, the initial decision sux since I'm not actually out of work.

 

[Low Level FJR Pilot]

Either way good or bad, the initial decision sux since I'm not actually out of work.

But, it is the best time to be looking then. It is absolutely no fun having to look for work when you are forced to. Being proactive is a good thing. Good luck though my friend.

 

[Mike P]

It is absolutely no fun having to look for work when you are forced to.

I've never had to do that. I've only had 2 jobs in the last 19 years w/o a resume', both came to me just as the current offers have now also w/o a resume'. I've done well networking myself ever since I've gotten out of school. I would be lost if I actually had to "look".

 

[evil_henchman]

Don't forget Texas has no state income tax either.....

 

[Mike P]

Don't forget Texas has no state income tax either.....

Neither does TN. h34r:

 

[Mike P]

Something else to add to this, the offer here in town has margins of 40% current but with new technology they will cut their resin usage by about 35%, I don't know what their margins will be after that but they let it be known that they do have programs in place to pass on the margins to their employs. The one in DFW I'm not sure of their margins yet but my current company is struggling at 15-20% margins.

 

[fjrchik]

if you like Chattanooga, stay there and take the other job. it sounds like a solid company and a great opportunity. don't go with loyalty for the other place. it will bite you in the ***.

if you'd like to know the negatives about DFW, please PM me.

 

[escapefjrtist]

Mike P--

Whatever decision you come to, make sure you look out for #1. No company will do that, none. Think of your career as a business. You must manage it wisely to make the most of it and provide for yourself and loved ones in the later years. Having BTDT a couple times, I can say that transition can be difficult, but never impossible.

My company (employer) was recently sold. Hope it's not another roller coaster again...

Good Luck, in the end you'll know what the right decision is.

--G

 

[dsmack]

Mike ~

Here's my take on the situation... your present employer sounds as though they are poised to head down the drain.

Your wife is fortunate to have an apparantly good job, earning above average salary for the area... a known plus;

You seem to like the area where you are pretty well, are established, and own a home which I assume you like - all pluses;

You want to remain close to your 21YO daughter to continue to be able to help her along (excellent thinking IMO);

Your 14YO doesn't want to move (they never do if asked, but stability is not a bad thing...

You didn't provide much detail about how competitive the two companies are, but it sounds like they are close in their offers to you.

Because of your wife's employment, and the hard time you'd have selling your house, coupled with the ability to leave the younger child in their comfort zone and being in the neighborhood as a safety net for the 21YO... I think the decision is fairly clear: Take the job with the Chattanooga firm!

See how easy that was (when I don't have a horse in the race)?

Good luck with your decision!

Don

 

[Mike P]

if you like Chattanooga, stay there and take the other job. it sounds like a solid company and a great opportunity. don't go with loyalty for the other place. it will bite you in the ***.
if you'd like to know the negatives about DFW, please PM me.

Chattanooga is nice, especially since both of us have better than average income for the area. I have another addiction also....Jeep'in. So between that and the bikes I can't see giving up the numerous mountain ranges all so close to here to enjoy each of my addictions to their fullest. I think I'll stay here, the house only has 1.5 years to go for pay off as we did a 15yr note, so at 40 yrs old my house will be paid for clear and free. Also by then I should be debt free for the first time in my life!

 

[Gary]

Well, if it's true that you negotiate your best raise at the hiring table, and your current employer is struggling, (meaning no significant raises on the horizon) I'd say it's time to take the other local position and ride that til your kids are grown.

 

[jmdaniel]

Don't forget Texas has no state income tax either.....

But property taxes that can make your head spin... :angry:

 

[ShawnKing]

Yes I have asked them, they don't want to which makes me definitely not want to force anything on them.

End of discussion. Your decision has been made for you - you're welcome!