Stay tuned for my updates to Pink Slip 2.0

   I’ll be away from the office – and the blog – starting Thursday, April 2, and returning Monday, April 20. Feel free to leave your thoughts in my absence. And if you’d like to reach any of our three participants, they’ll be happy to get your emails:

   Kris Rowberry is at  kris.rowberry@gmail.com

   Elise Sandusky is bandparentelise@yahoo.com

   And Roopa Govindarajan is at roopa_iyer@yahoo.com

  Thanks for joining our community and following Pink Slip 2.0. We’ll talk in late April!

  Pat

 

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  • Mary Lazaga

    I thought I was in a much better situation than most when at the end of February I was informed that I was one of 55 people sold to a new company. I had my years of service for retirement and a new job at the new company. This last week I received my benefits package, imagine my surprise when learning that my medical benefits monthly cost would use two thirds of my monthly pension. You see this very same high tech company in San Jose sold off a big division years ago that affected my husband’s career. He didn’t have the years of service but was able to ‘carry’ his years of service over to the new company his division was sold to. Five days after I learned I lost my job, he was informed that he lost his job exactly three months short of making his thirty years of service. Of course he wasn’t going to be able to ‘retire’ however by missing his thiry year anniversary he lost his medical bucket. At this point I realize that retirement, retirement that I envisioned to be like in the movies, will not exist for me. Not any time soon anyway.

  • Kevin

    I read your story about photographing people who have been laid off.

    It’s a heartfelt piece, telling of the human condition of lay offs.
    But there is a back story to one of your sympathetic characters.

    Anand Iyer is wondering why it was he who was laid off.

    Did he mention that he…

    * resigned from Cadence in March 2007 to go to a startup
    * was asked to stay, and during that time
    * methodically interviewed development team members about current and future ideas
    * left the company anyhow
    * stayed with that startup group when they were aquired by a larger rival of Cadence
    * probably informed larger company of these plans during his 2 months there, because
    * quit that larger company, came back to Cadence in August 2007
    * tried to share what he learned from previous employer, which Cadence didn’t want to hear since it would go against company policy
    * continued to issue warnings that that former employer was building the very things he learned during his pre-departure R&D survey

    Or how about how he

    * unabashedly borrowed presentation material to teach a marketing class at a university extension
    * let people think it was his own work?

    Where did he learn this behavior?
    By being pushed around by two supervisors in a row who took credit for his hard work, one of whom who coached him on how to look out for himself…

    When you’re in an industry for 17 years, reputation and ethics play a large part of employablity, not just how many masters degrees you may or may not have.

    Kevin

  • For those who have been recently laid off or know someone who has there is help if you are worried about making your house payments. Depending on your loan situation (current on payments, 30-60-90 days late or feel you are about to be late) there are many options available to you. If you have already received an NOD (Notice of Default) from your lender then time is of the essence if you want to remain in your home.

    There has been a lot of press lately about scams regarding foreclosure consultants who claim they will prevent or extend the foreclosure process. Please be careful when choosing a professional to help you if you’re already in the foreclosure process.

    A loan modification (negotiating the terms of your current loan with the lender) can be achievable when you have a legitimate hardship such as job loss. You may also be eligible for a refinance through Obama’s MHA (Making Home Affordable) program as well if your LTV (loan to value) does not exceed 105%. If you owe your lender more than your house is worth than a short sale may be an alternative as well (asking the lender to forgive some of your debt to sell the home). There can be tax consequences involved with many of these options so speaking with your tax advisor is always recommended.

    Coming up with a recovery strategy should be your overall objective. The best approach is to work with a trusted advisor that can help you look at all of the options to ensure you are making an informed decision. It’s emotional as well as financial one so think though it carefully.

    Roger C.
    (a 12 year licensed real estate/mortgage professional and former valley technical manager)

  • SEO

    It’s a recession if it’s happening to your neighbor it’s a depression if it’s happening to you. Tom Zegan

 
 
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