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Paul, it sounds like your company is pretty small and has serviced some very volatile industries. As such, even with last years performance they are looking into a huge drop in cashflow and few resources or leverage to prop things up for a longer recession.
But the behavior should tell you something about where your company could be headed, it doesn't sound like they're trying to retain talent.
Sucks all around.
One thing that's surprising is that even though the economy didn't feel all that great under Bush, a lot of companies were expanding...and many seem to have been really exposed. Do we really need a Starbucks on every other corner? Did Caterpillar think the construction boom wasn't going to ever slow down?
Fortunately my line of work is pretty diversified, and some of our customers have been doing pretty well. That being said I'm prepared for it to catch up to us eventually.
-spence
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