Hello guys, how's it going? As I journeyed on the bus home from work 3:30 AM this morning, I began to ponder about our brand and how it relates to the economic crisis also known as the recession. For those of you who have been hiding under a rock, the recession can be defined as a general slowdown in economic activity in a country over a sustained period of time, or a business cycle contraction (Wiki); and has we all know this recession or period of time is just the beginning. Not to scare you guys but here is more information regarding recession.
The 2008/2009 recession is seeing private consumption fall for the first time in nearly 20 years. This indicates the depth and severity of the current recession. With consumer confidence so low, recovery will take a long time. Consumers in the U.S. have been hard hit by the current recession, with the value of their houses dropping and their pension savings decimated on the stock market. Not only have consumers watched their wealth being eroded – they are now fearing for their jobs as unemployment rises.
U.S. employers shed 63,000 jobs in February 2008, the most in five years. On October 1, the Bureau of Economic Analysis reported that an additional 156,000 jobs had been lost in September. On April 29, 2008, nine US states were declared by Moody's to be in a recession. In November 2008 Employers eliminated 533,000 jobs, the largest single month loss in 34 years. For 2008, an estimated 2.6 million U.S. jobs were eliminated.
Although the US Economy grew in the first quarter by 1%, by June 2008 some analysts stated that due to a protracted credit crisis and "rampant inflation in commodities such as oil, food and steel", the country was nonetheless in a recession. The third quarter of 2008 brought on a GDP retraction of 0.5% the biggest decline since 2001. The 6.4% decline in spending during Q3 on non-durable goods, like clothing and food, was the largest since 1950.
A December 1, 2008, report from the National Bureau of Economic Research stated that the U.S. has been in a recession since December 2007 (when economic activity peaked), based on a number of measures including job losses, declines in personal income, and declines in real GDP (Wiki).
It is hard to survive out there and we all know it! This is why I have to decided to take a stand and have been brainstorming on countless nights creative ways to help you the customer better known as the players. Even beyond the brand in life in general we (both you and I) have witnessed a hard time and have to re-strategize our plan to get back it the game. We can't let this beat us, we can come off the bench and become victorious in the battle of hard times. We must take a stand and work together, like they always said "Two Heads Are Better Than One".
I promised we (Rugby's and Company) we try our best to meet your wants and needs as a people. If you have any comments or suggestions please feel free to comment on the blog or email us @ rugbysandco@gmail.com.
Mr.Yearn and Sirroe are the first to take a stand who will take a stand with us next?
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