[PRCo] Re: Lease back financing

[John Swindler]

And growing up, we never knew when the steel mill was going to go to four shifts or three shifts a week.  And then there were those steel strikes every couple years.  My father always said that the older workers just wanted to keep working, because they had families to support.  They didn't care about a few cents extra per hour or extra benefits.  But then he and the older co-workers had experienced the depression - the real one.
 
Concerning unemployment figures, perhaps Fred can explain how Louisiana added 10,000 additional jobs in Oct.  And what about employment at auto plants in Georgia, the Carolinas and Tennessee??  My wife's brother lives in Seattle, and he admits construction work has slowed, but not as portrayed by the media.  My nephew works for Norfolk Southern, and recently mentioned that coal traffic is a busy as ever, but that container train traffic over Horseshoe curve has declined.  That's imports.
 
Transit ridership is up, despite the fall in gas prices, the income stream to state transportation departments is down, reflecting reduced driving, and the stores are busy, but not equally busy.  We might be seeing the effect of the reduction in gas prices, as it has put millions back into consumers pockets.  Perhaps much more effective then that little check sent out by the feds last summer.
 
John
> From: dfc1 at windstream.net> To: pittsburgh-railways at dementia.org> Subject: [PRCo] Re: Lease back financing> Date: Sun, 14 Dec 2008 07:56:15 -0500> > Do unemployment figures tell the whole story? Am I correct in thinking they > only disclose the number of persons receiving unemployment once that runs > out, they are no longer classified as unemployed?> > I agree with John, that no matter where I have been (Delaware, Washington, > Allegheny, Butler & Armstrong Counties in PA and Wilmington, DE) over the > past month, the crowds are large and the cash registers buzzing. Even when > they do have enough employees to cover them.> > People who are working still have disposable income and the credit cards > keep them buying even if they do not have the disposable income. This is > what got us into this mess in the first place. People living beyond their > means.> > I guess I grew up understanding what it was like to go without and to always > save for a rainy day. We never knew when the coal mine was going to go to 3 > days a week or some guy would get pissed off, dump his water, and create a > strike.> > > Dennis F. Cramer> Trombone> > > > 
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