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Old 07-18-2002, 08:37 PM   #1
Hazdaz
Scooby Guru
 
Member#: 14611
Join Date: Jan 2002
Default Oh Joy.. my company is probably gonna go bye-bye...

... counting down till tommorrow to see if theres any big news (supposedly big meetings ogoing on up at our division's HW in Canada). Could go one of a few ways...

Close up our division and just use our factory (in Canada) as just another manufacturing facility for the parent company. -that would be obvioulsy bad for me and my boss here in CT, but thats what I got my $$ on as happening.

Replace the incompetent management in Canada and keep us up and running. -possibly VERY good for us here.

Close our CT office cuz of lack of sales. -bad, very bad (and stoopid for them, cuz then they have one less scource of new sales - which once again proves that they are incompetent).

I think I say 2 weeks max before im out `o work (hell, for all I know, it might be only one more day).
So, anyways, the ONLY reason I'm posting this is, what should I do BEFORE the time comes? And Im not talking about trying to find a new job - thats kinda obvious. Like for instance, I plan on setting up an eye doctor appointment tommorrow and try to get a free exam before i lose my insurance. Any other suggesrtions?


-Ya gotta love the American business model of expand, expand, expand till ya burst.
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Old 07-18-2002, 09:11 PM   #2
Chris N
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Member#: 5322
Join Date: Mar 2001
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Location: Maine
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Good luck. Hopefully you get some notice to prepare for what ever happens.
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Old 07-18-2002, 10:25 PM   #3
CTKAG
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Member#: 15001
Join Date: Feb 2002
Chapter/Region: NESIC
Location: Manchester CT or at any track
Vehicle:
STi V8 Spec C Power
NESIC TrackH0z # 10

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That's tough Haz-

The insurance bit is good - if you can squeeze in any office visits, refill any prescriptions (if you have any - see if you can convert them to a mail-order prescription where you can get 6 months supply rather than 1 month). By US law (COBRA), you have the right to continue insurance coverage for a period of time after separation - although you have to pay 100% of the premium - probably doesn't make much sense at your age if you're in otherwise good health.

You should be eligible for unemployment - make sure you get a layoff ('pink slip') notice to present to the unemployment office when they cut you loose. Hound them until you do - you don't get checks until then.

I'm sure I don't need to tell you to watch your expenses. Even if you don't get shut down now - the possibility will still be there.

Keep your eyes & ears open - don't be afraid to offer ideas to your boss or to Corporate if you have the opportunity.

Don't really have much else - hopefully they'll decide to keep you guys up and running & give you the opportunity to make the first move.

Good Luck - let me know what's going on.
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Old 07-19-2002, 05:54 AM   #4
ScoobieBoy
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2006 Sti-maybe?

Default More on the COBRA thing...

Sorry to hear about your troubles, Haz...

If things don't work out, you might save a few bucks with this tip.

Obviously, heath insurance is a good thing, and can save you a lot of money if you happen to get hurt or become ill. If you can afford to take COBRA, then by all means do so. However, if you're heathy and really tight on funds, you can roll the dice like this:

You will be sent a notice asking if you would like to continue health insurance coverage at your expense. You will legally be given 60 days from the date of the notice to decide to continue coverage. Don't accept right away; push it out towards the end of your election period. During the last week, notify them you will take coverage. You now have 45 days to pay them before they can cancel coverage.

By doing this, you will have had almost 4 months of insurance coverage for free. And by free, I mean it costs you nothing unless you use it. If you do need insurance, then you must write them a check in full from day 1 to ensure coverage. But if you get a job and start new insurance, you can simply NOT send them a check for that old coverage, and you technicaly don't owe them for it-it will be cancelled as of date of termination.

If you're still not working at the 105 day mark, I would still recommend taking COBRA if you can afford to.

Good luck,

Lance
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Old 07-19-2002, 04:28 PM   #5
CTKAG
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Member#: 15001
Join Date: Feb 2002
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Location: Manchester CT or at any track
Vehicle:
STi V8 Spec C Power
NESIC TrackH0z # 10

Default

Yup, Scoobieboy is right. In addition, if you were to be cut loose after the 1st of the month, you would, more than likely, be covered through the end of the month. The 105 days wouldn't start until the 1st of the following month.

Hopefully you won't have to worry about it!
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Old 07-19-2002, 06:47 PM   #6
Hazdaz
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Member#: 14611
Join Date: Jan 2002
Default

Well as of right now, my company is still in business.

Unfortuntaly, I didn;t hear anything that happened during the big meetings that they had at our divisions HQ with our parent company. I personally do NOT think "no news, is good news".

Its kinda pathetic too, cuz me and my boss make a great team, and while business so far this year sucked big time (!!!), we have seen more and more interest in the last few months. We are acutally quoting on a fiarly large project right now that would cut our office's debt in half. Ofcoure the pathetic way our company works, they might STILL close our office even IF we get the job. Managment is TOTALLY clueless - like in my opinon, my company DESERVES to close (for being so clueless), but that would negatively affect me, so I rather it not happen yet.

Anyways, in the mean time I think I'll update my resume and maybe start lookin at jobs. OR what i probably SHOULD do is go to Greece with my dad, who is leaving in about 2 weeks. Maybe I should go relax for a month or so and forget about the sad state of the American economy for a few months? ... tempted... VERY tempted to go do that.

Anyways, thankx for the tips there guys.
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