Recession Getting Worse

Nurses General Nursing

Published

We had a meeting this morning about the current state of affairs at our hospital. Our administrator looked pale, bags under his eyes and seemed to have the weight of the world on his shoulders.

He said that our hospital has to find a way to reduce an 18 million dollar debt. No money will be used for traveling expenses, will be a total hiring freeze, existing contracts at all levels, especially ones that are not income generating. Only purchases related to direct patient care will be honored, pending consultation contracts to be abandoned, and even the employees that are attending school to further their educations (say LPN to RN, RN to BSN) may not be able to obtain a position unless they are submitted through the Vacancy Boards...no more automatic placement. and may not even be able to complete their programs. The only positions available for promotion will be from openings based on results of termination due to disciplinary actions. In addition, recently, before this announcement, about three weeks ago, people that were offered jobs...they were told to call these poor people back and tell them that there are no positions available. I know many of them were devastated to count on this during such a bad time to have it revolked like a carpet being pulled from under them. I am sure that the agency people will disappear and the brunt of the work will be placed on us incumbant nurses.

Salary increases are frozen, we have to review how to generate funds due to decreased payment through Medicaid and health insurance. There may be layoffs, but they are desperately trying to prevent that. And then, he said "Merry Christmas". Wonderful...

I am not worried about losing my job per se...I have been there 13 years, but this is painful. I do wonder, however, if I would be bumped back to being a PCA. My seniority from the date of hire does not change...they have to retain our positions to the last position we had if it comes down to it. However, in most cases, in civil service, direct patient care (nurses in particular), are the LAST to go. But I was looking at the faces of the managers, clerks, housekeeping, dietary aides, etc...and wondering if we will all be together within the next few years. Many of the RNs that used to be LPNs are reinstating their LPN licenses in case they have to fight to remain there, or even to search for something else...this is a sad moment for the entire nation.

Specializes in Neuro ICU and Med Surg.
On my electric bill you can give to a warm air fund to help needy people pay their bills. That's an easy thing to do.

We have that too. I think it is called THAW.

Specializes in ICU/Critical Care.

I don't know. I get my gas through the consumer's energy company. I don't know if I can donate through them.

Did anyone hear about the federal interest rates dropping? I heard they dropped pretty low. I was considering refinancing on my mortgage.

Specializes in LTC, Med/Surg, Peds, ICU, Tele.

I was thinking of hiring someone to shovel snow this winter instead of doing it myself. That'll provide work for someone. I think my neighbor will be laid off soon, I heard they're closing down his factory temporarily. I know he does some snow shoveling on the side.

I think I'll start helping out in my neighborhood.

Specializes in LTC, Med/Surg, Peds, ICU, Tele.
I don't know. I get my gas through the consumer's energy company. I don't know if I can donate through them.

Did anyone hear about the federal interest rates dropping? I heard they dropped pretty low. I was considering refinancing on my mortgage.

Here there is a spot on my electric bill that I can write in an amount and pay extra to contribute.

Specializes in ER.
It's time, for those who are able, to think about what local charities we can support.

:yeahthat:

I know it! I have been through all of kids' winter clothes, jackets and hats for donations, donated canned goods, books at Borders, you name it. I am just grateful to pay my mortgage every month!

Specializes in ICU/Critical Care.
Interesting...my beautician actually came to my house from a far neighborhood to do my hair. She was living in a co-op, but is in a nasty divorce and her husband sold the co-op right from under her and she had to move out within a week. As she was moving her things out, the new owner was moving his things in. Currently, she is staying with her daughter which is even further away. When I called her, I didn't know this and she was in the middle of moving her things out, then! She called me a few days later and told me she would come to my house to do my hair and I accepted, of course, but it really got to me because really, what she does to my hair is only $25, but I gave her $50 to try and sort of make it more worth her trip. Then, she left my house and to take the 3 buses to her daughter's home, telling me that she had three more clients to see the next day at their houses.

Alright everyone can I say this without getting in trouble? There's one word for that man that comes to mind...

A$$hole.

Specializes in Family Nurse Practitioner.

Good point about charity. We give a lot every year and this year I was thinking about scaling back a bit but DH reminded me that in tight times more is needed so we upped our usual. We do animal charities of course, two health related charities and a few Salvation Angel Tree kids.

Specializes in ER.
Alright everyone can I say this without getting in trouble? There's one word for that man that comes to mind...

A$$hole.

Yeah. You can say that. I will go with you on it.

Also, if you have the credit now is definitely the time to refi. I saw an article on abcnews.com about it and I think its just common sense at this point.

Lowering the interest rate is the worst idea ever but its good for folks who would like to refi.

Specializes in ICU/Critical Care.
Yeah. You can say that. I will go with you on it.

Also, if you have the credit now is definitely the time to refi. I saw an article on abcnews.com about it and I think its just common sense at this point.

Lowering the interest rate is the worst idea ever but its good for folks who would like to refi.

Here's my problem though. Does even make any sense to apply for refinancing if I'm trying to sell?

Specializes in Critical Care.

I live in Michigan too and I'm not sure where your house is. But I'd say yes it makes sense to sell, especially if you've had your house on the market for a while. Down by me, houses aren't moving. My sister and I have been trying to sell our grandparents' house now for almost a year, not a nibble and it's a great house. No one can get credit right now. So, if you can reduce your payment till you can get rid of it, I'd say go for it. IMHO.

Specializes in ICU/Critical Care.
I live in Michigan too and I'm not sure where your house is. But I'd say yes it makes sense to sell, especially if you've had your house on the market for a while. Down by me, houses aren't moving. My sister and I have been trying to sell our grandparents' house now for almost a year, not a nibble and it's a great house. No one can get credit right now. So, if you can reduce your payment till you can get rid of it, I'd say go for it. IMHO.

I live in Troy. It's a condo. I have had a bit but no takers. I was offered 125k, 25k below what I'm asking. I can't take that kind of loss.

Specializes in Family Nurse Practitioner.
Here's my problem though. Does even make any sense to apply for refinancing if I'm trying to sell?

What is your rate now and prospective rate on re-fi? Even more importantly the term. Would you be able to cut it down or would it be increased? Its probably not worth if when someone is trying to sell unless lowering it would prevent you from losing it to foreclosure. I'd probably consider doing a re-fi if I could cut the term and rent it out if you really want/need to move. Good luck.

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