Saturday, January 31, 2009

Downturn hits Philadelphia

Over the last year we have all seen and heard all the rumblings of the economy. Most of us tightened the belts over the holidays and jobs have been lost due to companies scaling back. It seems to the Mistress that since December it has gotten worst. More and more stories keep surfacing about friends and their family members losing jobs and we are seeing more of this around these parts.

The economic climate in Pennsylvania so far is in the middle of the road for the country. Were not the worst, but it's not the best either. But,it seems that the last two weeks the economic downturn has finally it the Philadelphia area with many warehouse companies and factories scaling down on hours or closing and more and more stores closing. There are adds in the papers for sign holders like this.

These two workers stand with going out of business sale signs in front of Linens and Things that are now closed. And last week more companies announced closings like Williams- Sonoma, Pottery Barn, Home Depot and Expo Design Center. Shopping centers , a category that includes strip malls and lifestyle centers are doing worst than expected, reporting vacancy rates of 9.4-10.5 percent. Larger enclosed malls are doing better with vacancy rates of about 3.9 percent. Stores and company closings have come as the US economic downturn forces retailers to scale back expansions plans, close under performers,or file for bankruptcy protection. Other stores and companies are still making it, but are cutting back on hours of operation. The Mistress felt the economy last week as her hours got cut back. She is just over joyed to have a job though as she loves her work. But many others aren't so lucky. Some got cut altogether. Other friends from all over loss their full and part time jobs. I wish them all the luck in the world. The Mistress had her advisers tell her she will have to cut back on the luxuries.

Ball gowns

Estate jewels

Fur wraps

Entertaining hot Brazilians

When the Mistress first heard of the cuts she was relieved she only had hours cut. Many others lost jobs all together and are having a very hard time finding work. My heart goes out to all those who lost their jobs. Just keep thinking positive. Things will get better. Hang in there. Things always get worst before they get better. But I must admit, I already miss the Brazilian house boy!


  1. ohhhh the Brazillian House Boy!!! I WANT one! I NEED one...esp one that looks like THAT!!!

    ya, losing jobs sucks. it's scary cuz no one is really safe.

  2. Anonymous1/31/2009

    So sorry to hear about your hours cut. Your right though,at least you still have a job. I work in Philly at a office and have not been affected,but you can see a huge drop in traffic in the resturants and the afternoon shopping hour. It's empty. And the lounges are not as busy in the evening anymore either. The happy hours seem more busy though with the 2 for 1 specials and discounted prices! Hang in there.

  3. Anonymous1/31/2009

    I just lost my part time job last week and that was the fourth part time job that I got cut from in the last five months. So now I 'm looking again for one. It's hard because if your the last one in, your the first to go. And the house boy went? Are you looking for a new one?

  4. Anonymous2/01/2009

    so sorry to hear of the cut in hours. I hope all turns out ok for you. Our business isn't doing well either and I am a little worried too. It has been very slow. We will all hang on together. Take care.

  5. Yes, its a shame how many people are out of work now. Hopefully Obama's economic recovery package will soon get passed by congress and some will be able to go back to work.


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