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Anecdotal: Recession

mizzbiz · 2008-08-26 15:25:43

I've just found out that one of our industry friends (no names mentioned!!), who happen to be the industry leader and one of the first established in their field, are suffering hugely from the economic and confidence downturn. In addition, they have just let 20 staff go (there are around 60 staff so this is a huge…

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mewbie_2 Posts: 6,058 Forumite

31 August 2008 at 9:01AM

Here's a quote from someone who really understands how recession works...

Paul Davey, Corporate Director of the Port of Felixstowe, finished by saying: "As recession sets in consumers tend to buy cheaper rather than stop buying at all.
"Cheaper is often bigger, for example a CD player rather than an iPod. People eat more now than they used to.
"So there is a need for bigger ships and more space to accommodate them."

http://www.bbc.co.uk/suffolk/content/articles/2008/07/23/port_felixstowe_wr_feature.shtml

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Debate House Prices

Anecdotal: Recession

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