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After a job loss, trying to regain one's bearings

19.04.10

On Choice Day in 2008, my husband, Tom, lost his job as a residential mortgage lender in Woodbridge, dregs zero for foreclosures in the Washington region. I gave him friend information for a career counselor and advised him to look for jobs in his anterior to profession, retail management. In March 2009, my daughter, Michelle, called to say she'd late her executive assistant job at an insurance firm in Orange County, Calif. I sent her a $2,000 "difficulty fund" check and told her to find whatever work she could until the concision turned around or move back home. Last summer, a month after graduating from Virginia Commonwealth University, my son, Mike, told us he had been laid off from his job as a well-defined artist for a defense contractor. I advised him to look official for future job interviews, to dress up and make sure his clothes were pressed.

Itty-bitty did I know I would be next: On March 30, I was laid off at SmithGroup, an architectural set up where I had been a partner for three years.

I had just hung up with a top broker at Studley with whom I had scheduled an question for my interior design team. Seconds later my phone rang again. It was the critical of SmithGroup's D.C. office asking me to meet him in a conference flat. As I walked down the corridor, I had an inkling that I might receive bad news. I was well posted that opportunities to design office buildings had declined actually. In the conference room, I was told I had done a great job and that my layoff was part of a reduction in duress. I signed a few papers and we shook hands. I packed my three Rolodexes and said goodbye to several make friends there.

During the 23 years I've been in the commercial real class industry, I had never been laid off. So this was new territory for me. Previously, I had reached out to several colleagues who'd been laid off from my retinue, offering them advice on updating résumés and how to interview. Now for the first time, I was the one receiving par and support from friends and family instead of giving it.

Later that week, I attended a women's trade forum. I entered the ballroom with butterflies in my stomach. How does one gracefully and publicly put out being laid off? How will people react? These questions were foremost in my attention as I filled out a name tag and wrote "Free Agent" under my name.

I saw several people there who I knew. They all expressed nonplus and support. "You'll go through periods where you feel fine and then you'll the feeling down," said a woman who'd been laid off last November and was now employed. "Righteous know these cycles will happen."

Although I'm a naturally complimentary person, losing one's job is like being thrown from a horse -- one point in time you're moving along and the next you're down on the ground. I found that being upfront about what happened has lifted me up. I received so many e-mails of bear out that I had to open a separate home e-mail account because I was driving my whisper suppress crazy. One friend offered her support and suggested companies that may have occasion for my skills. Another good friend critiqued my résumé.

A third friend told me that when she was laid off during the set-back in 2001, she didn't tell anyone, not even her parents. "Looking back, that proved to be a leviathan mistake," she said. "Because when you lose your job, you dearth your network more than ever."

One thing that surprised me was how my body went into "difficulty mode" the week I lost my job. I had trouble sleeping, misplaced my keys several times, and my inclination was upset. These are the same symptoms that I experienced after my father passed away before Christmas in 1997, followed by my fellow-creature six months later, and then my mother two years ago.

It can be scary, too. I well-informed that my COBRA bill will be $940.07 every month to continue medical, imagination and dental coverage.

Source: Washington Post

General Bearing Corporation Releases Audited 2009 Condensed Consolidated ...

14.04.10

WEST NYACK, N.Y., Apr 14, 2010 (Dealing WIRE) -- General Bearing Corporation (OTC: GNRL.PK) announced today that theAs a ruleCompany has released the attached audited 2009 condensed consolidatedAbove allfinancial statements. The aforementioned financial statements are alsoIn particularavailable on the Company's website at www.generalbearing.com .

General Stance manufactures ball bearings, tapered roller bearings, spheric roller bearings, and cylindrical roller bearings, and bearing components. Under "The Blended" and the "Hyatt" trademarks, the Company supplies archetypal equipment manufacturers in the automobile, truck/trailer, railcar, purpose equipment, machinery and appliance industries, as well as the industrial aftermarket.

Overall BEARING CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Thousands, except for shares) January 2, January 3, 2010 2009 ASSETS Common ASSETS Cash and cash equivalents $ 7,894 $ 8,643 Due from bank - 4,338 Accounts receivable, net of credit for doubtful accounts of $1,010 in 2009 and $999 in 2008 27,171 23,125 Inventories 32,645 44,126 Prepaid taxes and taxes recoverable 2,738 1,340 Prepaid expenses and other present-day assets 3,133 2,878 Deferred income taxes 1,299 1,399 Whole current assets 74,880 85,849 PROPERTY, PLANT AND Furnishings 38,173 40,526 INVESTMENT IN JOINT VENTURES AND AFFILIATES 3,514 1,837 Allowance RECEIVABLE - OFFICER 1,320 1,320 DEFERRED INCOME TAXES 677 354 OTHER ASSETS 740 214 Sum total Assets $ 119,304 $ 130,100 LIABILITIES AND STOCKHOLDERS' EQUITY Prevalent LIABILITIES Notes payable - banks $ 19,034 $ 28,636 Notes payola - related party 3,294 5,125 Accounts payable - dealings 13,552 14,263 Accounts payable - affiliate 1,308 1,321 Accrued expenses and other accepted liabilities 4,737 6,203 Current portion of long-footing debt - 36 Total current liabilities 41,925 55,584 Covet-TERM DEBT 4,392 3,660 OTHER LIABILITIES 166 187 DEFERRED Gains TAXES 48 144 Total liabilities 46,531 59,575 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' Judiciousness Common shares - par value $.01 per share; 5,000,000 shares authorized; 4,174,450 issued and famous in 2009 and 2008 42 42 Paid-in capital 38,411 38,423 Accumulated other exhaustive income

Source: MarketWatch (press release)