recession
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Forum Name: Miscellaneous - Off Topic
Forum Discription: Topics that just don't fit anywhere else.
URL: https://www.the12volt.com/installbay/forum_posts.asp?tid=111289
Printed Date: May 08, 2024 at 4:58 PM
Topic: recession
Posted By: t&t tech
Subject: recession
Date Posted: February 03, 2009 at 3:29 PM
this reccesion is getting worse, as of this morning one of the largest locally owned bank facilities has been tagged to be next in line to bite the bullet, as a government minister reprtedly went overnight and drew all her finances from the facility, customers are frantic, withdrawing their accounts from the billion dollar facility, i have all my life savings there, it's getting really scary, to those who haven't felt the effects yet, i thought i never would, be wise, and brace for the worst. ------------- COMMIT YOUR WAY TO JEHOVAH AND HE WILL ACT IN YOUR BEHALF.
PSALMS 37:5
Replies:
Posted By: lspker
Date Posted: February 03, 2009 at 10:25 PM
we've been in a recession for 2 years now, good news is only a day away....... everyone is blamming the banks, ever notice that when gas when ballistic less people work. eXON-MOBILE only made $45 billion last year, and they're crying that the last quarter was soft.......................
Posted By: howie ll
Date Posted: February 06, 2009 at 11:18 AM
People , banks took a gamble with our money that the bubble wouldn't burst. But it did; never mind Bayesean (did I spell that right) maths and complexity theory algorythms (ditto), the bloody things are cyclical. Now I'll say what no one else dares....let the lame duck car manufacturers go broke, maybe it's time to work that good old Keynes stuff and invest in PUBLIC works and infrastucture, call it communism but it was first applied in the US in the 1930s...no I'm not old enough to remember. There Darren you knew I'd get a Y in there somewhere.
Posted By: 97gss
Date Posted: February 11, 2009 at 9:38 AM
With the economy being as bad as it is right now, does anyone think this would be a good time to start a car audio business? I'm thinking about it, but I'm wondering if this is a good time or not. The books can only increase from here (hopefully), instead of fall. I know the business isn't what it used to be, but with me being out of a job soon (non car audio), it's an option I'm looking at strongly right now.
Posted By: thepencil
Date Posted: February 11, 2009 at 11:16 AM
I personally don't think the audio business is a good business to be in any more. Selling an aftermarket head unit has drop year after year. For someone new looking at getting in the audio business, I would suggest that you look at servicing the audio equipment instead. They are getting more and more sophisticated and have more function than most after market unit. Most of the cars today coming out of the assembly line have fantastic audio system, and the only problem with it is that no one seems to know how to fix them when they stop working. Just my 2 cent.
------------- Be careful whose advice you buy, but be patient with those who supply it. 
Posted By: howie ll
Date Posted: February 11, 2009 at 4:08 PM
The pattern appears to be that companies operating a workshop unit with heavy advertising, plus someone working in our equivalent of Best Buy plus ties to car dealerships and a lot of discipline in keeping costs down might pay their way. Just forget head units and standard speakers, no demand and no margins. It's all about integration, ipod, iphone Bluetooth etc; HID light conversions, LED illumination, small items but everything has to be installed. Having said that 6 long established shops all in the bus. for 20 years plus have gone down in my area of London alone.
Posted By: 97gss
Date Posted: February 11, 2009 at 10:19 PM
Good info. I've been skeptical of starting one and felt the same way. Just wanted to confirm what I was thinking. Time to come up with something else.
Posted By: forbidden
Date Posted: March 05, 2009 at 10:43 PM
Business is also what you make of it. If you are sitting and waiting for the customer to come in, time to do something different. My shop is still steady and our local market is getting creamed with the economy going down le toilet. Yet, after 14 years, a customer comes in today thanking us for still being in business. I do things different than my competitors do, if they get out of car audio, I am going to have to hire another installer. ------------- Top Secret, I can tell you but then my wife will kill me.
Posted By: ckeeler
Date Posted: March 06, 2009 at 10:24 AM
howie ll wrote:
....let the lame duck car manufacturers go broke,
i would like to see the big 3 fail Howie, i think they should. the same rules that apply to small buisiness should also apply to to big business. and its simply this: if you are a small business, and if you have poor business ethics, and have a poor product, your business will fail. plain and simple. it should be the same for big business as well. the big 3 have had poor business practices and business platforms for a long time now and have been building poor quality pieces of crap for a long time now too and have fallen behind the asian and european markets in that aspect so much that it is now most likely impossible to catch up. but yet here they are, asking for a handout so they can continue to build huge piece-o-crap hummers and whatever else it is that they keep making and trying to shove down peoples throats. these morons need to just go away.
Posted By: howie ll
Date Posted: March 06, 2009 at 5:49 PM
The irony here is that Ford got rid of Jag and Land Rover just when they were starting to make money! Aston Martin was hived off 2 years ago and they are becoming a serious rival to Ferrari. Ford makes a 4.2/4.4 V8 in the UK for Jag, LandRover, Aston and Volvo, yet they make a similar size V8 for the Mustang, that's good economics? As for civilian Hummers, what a piece of junk. Want a belly laugh? Imagine a (very) stretched Hummer limo tring to turn on a small British road. The only thing worrying me is the number of people who will lose their jobs if Ford, GM and Chrysler go belly up. PS You can't compare the build quality of the Euro Mondeo/Focus to the Galaxy/Focus, trims ride quality etc they are worlds apart and yet Ford Europe still makes lots of money. I can't see Ford or GM being taken over from abroad, look at the Daimler Chrysler fiasco, now Fiat Chrysler? Don't make me laugh, the product is so bad that outside of Italy, North Africa and the Middle East, they can't sell the product.
Posted By: kassdog
Date Posted: March 06, 2009 at 5:57 PM
To anyone saying that it isn't a good time to get into car audio I am going to disagree with it. I know of two shops in my area that have both seen growth for probably the last 5-7 years. Sure its scary to get into it now but so long as you evolve with the business and are a good business man I don't think you should have any trouble jumping into this water. Its a gamble is what it comes down to. No matter when you get into it your gambling.
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