What effect did the 2008 recession have on integrators throughout the country

[Rob S.]

Good Morning ,

I may be joining a industrial electrical contractor in forming a automation
division . Before doing this , I would like to get your advice , and have you reflect on your experience that the 2008 recession had on your business , and
what was the minor and major difficulties that you had. How much did manufacturing cut back on upgrading machinery , etc.

Thanks so much in advance.

 

[RussB]

What Recession?
I didn't see a recession in 2008, maybe just too busy to notice?

 

[JeffKiper]

I quit my full time job in 2008 and became an Integrator. Worst economy since I have been alive. I was born in 1980 so I am young. Was it scary? Yes. 2 kids under 3 yr old and a wife. Did we miss any meals? No. Where we eating steak and lobster every night? No. (Not that we would if we could).

Look historically at the recession, slow down, slumps, whatever you want to call it. With in 24 months the stock market was making money again. Maybe not as much as it was previously but it was making money. The US dollar was hurt. It was growing slowly but it was growing. If you look at snapshots of the economy it looks bad. Take a time weighted average and see what that 3 years look like in comparison to the 3 yrs before and after.