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Originally Posted by 2B
Htown Harry,
How do you hedge for j*b and real estate losses when oil hits $25?
I suspect things will start getting ugly real soon. My employer has started "selective RIFs." I am in the process of being moved from a cancelled project that needed $70 oil to be viable to an environmentally required project with another client. This will keep me busy until summer.
There were 8 process engineers on the original project and 2 were sent into the void. There are rumors that this will be happening a lot across all disciplines as projects are "reorganized."
There was a comment made by my process lead that there is a person on the new project that I will be "replacing." I met with the process people for this project and nobody said anything about anyone leaving. I suspect I saw a "dead-man walking" but can't be sure.
I was amazed because I found out 2 different projects asked for me when it was known the original project was being cancelled. I have intentionally been a moderate slacker since I started. I'm not particuarly worried about being "force retired." I just don't see what I'd do "retired" in Houston since we can't move or leave for months at a time at this point.
DW and I have our house on the market. I was hoping to downsize and become a renter before the crap hit Houston. It's too late for that so we're probably stuck in the oversized money pit for the duration.
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I am guessing that, if you live in a city and work for an industry that thrive when oil prices are high, you could be hedging your job and RE losses by shorting oil. Of course it's a bit late now for that...
I personally live in a city which is very dependent on defense spending (and the value of our home is somewhat tied to it too), so maybe I should short a bunch of defense contractors? I cannot think of any obvious ways to hedge our jobs. RIFs in our industry were popular when the economy was booming and there are still popular now...
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