how's business?

[NetViper]

My Craigslist car posting business is starting to pick-up. I have a lot more dealers expressing interest and have gotten two good testimonials of success with the product.

My web design business is slow. Local advertising doesn't seem to be doing a lot. I have been doing some banner design for a local agency that has been pretty steady.

My sticker business is about to get off the ground with a swim team in Plano TX. I have high hopes for that one, but I think it is going to take some time to get it off the ground.

 

[queenlives]

I have already been hit by our payroll company telling us we have to send out letters to the employees we fired because of performance issues and ask them if they want us to pay for 65% of their cobra. This is going to put a ton of small companies out of business. I feel like we are living in the old USSR.

it's too bad there is (apparently) no differentiation wrt paying the 65% cobra fees between those terminated due to non-performance issues and those terminated for other issues

(summary of the cobra-related issues at http://personalinsure.about.com/od/health/a/aa021809a.htm)

 

[queenlives]

My Craigslist car posting business is starting to pick-up. I have a lot more dealers expressing interest and have gotten two good testimonials of success with the product.

My web design business is slow. Local advertising doesn't seem to be doing a lot. I have been doing some banner design for a local agency that has been pretty steady.

My sticker business is about to get off the ground with a swim team in Plano TX. I have high hopes for that one, but I think it is going to take some time to get it off the ground.

interesting about craigslist. i wonder if / how you might be able to expand that to other, non-automotive areas: planes, boats, etc.

 

[NetViper]

interesting about craigslist. i wonder if / how you might be able to expand that to other, non-automotive areas: planes, boats, etc.

We are looking at real estate next. To use the tool you have to be able to get a feed from somewhere to populate the data.

 

[DocL]

I've just had the best 1st quarter ever.

 

[queenlives]

We are looking at real estate next. To use the tool you have to be able to get a feed from somewhere to populate the data.

gotcha.

 

[queenlives]

I've just had the best 1st quarter ever.

very cool, congrats!

i'm curious, to what (top 3) things do you attribute the record performance?

looking back over the past year, what (if anything) would you have done differently?

(i realize these may take time to answer - or not - so answer as you have time / interest.)

congrats again.
hal

 

[nsx2tall]

We do medical collections along with a few other areas. I have already been hit by our payroll company telling us we have to send out letters to the employees we fired because of performance issues and ask them if they want us to pay for 65% of their cobra. This is going to put a ton of small companies out of business. I feel like we are living in the old USSR.

You should read the COBRA requirements again as your statement is inaccurate. The employer pays 100% of the health care insurance bill and then takes 65% of that as an employer payroll tax deduction and receives the other 35% from the former employee. There are no circumstances where the employer is required to pay for COBRA.

 

[docjohn]

You should read the COBRA requirements again as your statement is inaccurate. The employer pays 100% of the health care insurance bill and then takes 65% of that as an employer payroll tax deduction and receives the other 35% from the former employee. There are no circumstances where the employer is required to pay for COBRA.

My point was that nsxlover's company will be quite busy chasing down that 35%

 

[nsx2tall]

My point was that nsxlover's company will be quite busy chasing down that 35%

Collections don't really apply to COBRA. You don't pay, you don't get coverage. I think he's referring to his own ex-employees not his collections targets.

More likely he's chasing folks who aren't paying their medical bills.

 

[docjohn]

Collections don't really apply to COBRA. You don't pay, you don't get coverage. I think he's referring to his own ex-employees not his collections targets.

More likely he's chasing folks who aren't paying their medical bills.

Interesting ,one of my billing co. execs said the new cobra rules would be a bite in the shorts for them and in the end me as well.Ill have to study up on the issue.

 

[NetViper]

gotcha.

With Real Estate we are looking at getting the MLS data to popluate, so the realtor can just load our tool and list their houses in seconds. Should be great, but pricepoint will be a problem. The auto product is only $299 - which is nothing for a car dealer. Charge a realtor $299 and they will stab you. I know when I used to sell upgrades to our website to add a "realtor package" basically have your photo and extra info with your listings in our database, the realtors bitched about $25/month!

 

[robr]

I expect to be jobless within the next week, if not sooner. I've been asked to turn over the keys to the kingdom (passwords, usernames, etc) and as I've been turning them over, I've been immediately locked out of the accounts with no explanation given and the execs have stopped returning my phone calls.

We write software for the collections industry. The software itself is excellent, our customers all universally love it as it automates a lot of the collections process so they can reduce or redeploy headcount, sales are pretty decent, the problem is time to implement (which is being worked on) and the rate at which we're burning through our investors' money. I've already been forced to take a 43% pay cut which I never agreed to (I asked them to look into some things before I decided to accept or not which were never done). I'm almost certain they will attempt to reneg on everything they owe me when they show me the door as they have no money (approx $140K in severance, vacation pay, pay they retroactively reduced my salary on after work was already performed, and a few other things).

 

[queenlives]

I expect to be jobless within the next week, if not sooner. I've been asked to turn over the keys to the kingdom (passwords, usernames, etc) and as I've been turning them over, I've been immediately locked out of the accounts with no explanation given and the execs have stopped returning my phone calls.

We write software for the collections industry. The software itself is excellent, our customers all universally love it as it automates a lot of the collections process so they can reduce or redeploy headcount, sales are pretty decent, the problem is time to implement (which is being worked on) and the rate at which we're burning through our investors' money. I've already been forced to take a 43% pay cut which I never agreed to (I asked them to look into some things before I decided to accept or not which were never done). I'm almost certain they will attempt to reneg on everything they owe me when they show me the door as they have no money (approx $140K in severance, vacation pay, pay they retroactively reduced my salary on after work was already performed, and a few other things).

ouch! sorry to hear this, rob.

(i don't know the answer to this questions so will ask it outloud)

folks, any quality suggestions about what rob should be doing @ this point to give himself some form of legal protection to recover (what he feels) the $$'s as indicated?

i've always made a point of bcc'ing my private accounts on critical issues, but i'm sure he's ahead on that one.

confirming benefit / retirement related details are key, too.

rob, sorry to hear.
hal

 

[queenlives]

With Real Estate we are looking at getting the MLS data to popluate, so the realtor can just load our tool and list their houses in seconds. Should be great, but pricepoint will be a problem. The auto product is only $299 - which is nothing for a car dealer. Charge a realtor $299 and they will stab you. I know when I used to sell upgrades to our website to add a "realtor package" basically have your photo and extra info with your listings in our database, the realtors bitched about $25/month!

i hear ya on model / pricing... and (it appears) that most segments / markets are still struggling. (although on the local news the other night i watched a segment about how formerly hot markets that have gone through devaluation / repossession cycles are now coming back and many neighborhood / homes are getting multiple offers, albeit @ greatly reduced prices than before.)

good luck with your efforts.

 

[Yawwn]

In the biotech industry that I was a part of, we saw a large decline in expensive capital equipment sales ($500k+ instruments), so sales have been slumping for over a year. I heard recently that this 1st quarter has been worse than in previous years, so the outlook is not bright for 2009.

I am in the process of building up our new business now, so I can report back in the near future about how the wine industry is from my point of view. From what I've been told by fellow winemakers and winery owners, it's a pretty stable business all the time. What they say is that when times are great, people are buying lots of wine. When times are tough, they are also buying lots of wine (although it may be less expensive). Unfortunately, that may not be good news for us, in that our wine may seem pricey in this economic climate. Time will tell.

 

[robr]

I expect to be jobless within the next week, if not sooner.

It was sooner, incidentally. I was fired yesterday, "with cause" (now they couldn't just admit they were breaking my contract, right??? ). I started my new job this morning.

 

[Airwolf NSX]

I recently lost my job and i'm quite ok with it. Personally, i didn't see any value or reason why I should work for someone to build up their dream. Honestly, I make a so-so employee (not that i did a bad job at what i did). I was an Analyst for a corporation and after seeing people lose their jobs when they dedicated their profession/lives to it, it left a distaste in my mouth.

Since i got laid off, i find it the perfect opportunity to start my business. Otherwise, it'd be too hard to leave since i'd be comfortable.

 

[NetViper]

It was sooner, incidentally. I was fired yesterday, "with cause" (now they couldn't just admit they were breaking my contract, right??? ). I started my new job this morning.

Sorry to hear that. What is the new job?

 

[NetViper]

Anyone wonder what kind of company we could create with the talent here on NSXPRIME?

 

[robr]

Sorry to hear that. What is the new job?

back in a project manager role, but it's going to be a massive challenge which is somewhat stressful but I love a good challenge. i was handed a list today of approximately 150 projects, 2-5 word description of each, no dates or priorities, and asked to figure out the best way to organize, manage and track them (some are likely tasks rather than projects but it's unclear yet which are which).

mentally i'm still pretty upset that i spent the last 3.5 years of my life dedicating pretty much 24/7 to this past company only to have politics and infighting bring it almost to collapse. i am extremely proud that i was able to take a concept scribbled on a couple of napkins and faxed to me, along with some brain dumps, and put together a team to build it and then got to hear how much the customers loved it, how it really saved them money and allowed them to reduce headcount or reallocate it. i also came up with some pretty slick ways to generate reoccurring revenue. so it sucks to have a great product that's desired, especially in this economy (collections software is in great demand as you might imagine), only to have a couple of really, really low characters lie, cheat, backstab, throw partners under the bus with the investors, hide stuff, destroy company morale and sabotage investor belief in the company and especially me.

like airwolf mentioned, i gave the past 3.5 years of my life to this company. my family suffered for it, i lost a LOT of time with my kids (who are only 4 and almost 3). i found ways to do the impossible more times than i can count when i got a call and said 'we need to do X and have it done in 48 hours'. over and over again because of lack of organization and foresight. I never once failed when asked to do the impossible.

I could go on and on but I'll stop bitching for now and get back to my project managent tools research.

 

[Airwolf NSX]

back in a project manager role, but it's going to be a massive challenge which is somewhat stressful but I love a good challenge. i was handed a list today of approximately 150 projects, 2-5 word description of each, no dates or priorities, and asked to figure out the best way to organize, manage and track them (some are likely tasks rather than projects but it's unclear yet which are which).

mentally i'm still pretty upset that i spent the last 3.5 years of my life dedicating pretty much 24/7 to this past company only to have politics and infighting bring it almost to collapse. i am extremely proud that i was able to take a concept scribbled on a couple of napkins and faxed to me, along with some brain dumps, and put together a team to build it and then got to hear how much the customers loved it, how it really saved them money and allowed them to reduce headcount or reallocate it. i also came up with some pretty slick ways to generate reoccurring revenue. so it sucks to have a great product that's desired, especially in this economy (collections software is in great demand as you might imagine), only to have a couple of really, really low characters lie, cheat, backstab, throw partners under the bus with the investors, hide stuff, destroy company morale and sabotage investor belief in the company and especially me.

like airwolf mentioned, i gave the past 3.5 years of my life to this company. my family suffered for it, i lost a LOT of time with my kids (who are only 4 and almost 3). i found ways to do the impossible more times than i can count when i got a call and said 'we need to do X and have it done in 48 hours'. over and over again because of lack of organization and foresight. I never once failed when asked to do the impossible.

I could go on and on but I'll stop bitching for now and get back to my project managent tools research.

Wow brotha, seems like you went through some really huge obstacles.. at least you're staying positive about it. I give props to you though for being a project manager. My boss is a project manager and i can't imagine doing what you guys do. Takes a lot of concentration and foresight. Props to you. Hope it goes well for you and your family.

-Airwolf

 

[Malibu Rapper]

My biotech employer is doing well still, just some pressure from government for reimbursements and bringing in generics.

My other business supports some law firms and they seem to be thriving right now as I was told this economic situation tends to escalate litigation.

My GF has a sitdown restaurant that serves upscale Thai food. Business was very strong in February, a little weaker in March. Still has very busy nights but surprisingly some weak nights when they were supposed to be strong. Customers there are complaining the economic situation is hitting their business. Because of the location of the restaurant, 90% of her clients work in the film business (Hollywood). Like m3456y mentioned there's a lot of stuff going on that I overhear during dinnertime conversations. I know a few guys who haven't worked in months because they own their own companies in the film business and are now taking jobs they wouldn't normally take.

My friends that own McDonald's restaurants are seeing increases in sales. I think that's from the people cutting out the more expensive eating options.

 

[Jetpilot3]

Our company has gone from over 3,000 employees to around 400 max. We've stopped projects (8 in total) with immediate effect and aren't paying our contractors. There's no money in the bank and the company is way over leveraged for Dubai. So...I'm lucky in one way because the business unit I'm with is the only one which will see construction on it. Also fortunate I believe as I'm the only one in my role (Logistics Manager) so I believe I'm okay but...I still sold my NSX just in case.

Anyway I've survived 4 major cuts but as I've seen, the company is slowly letting people go each day.

Fingers crossed...

Dubai is in trouble!!!

 

[queenlives]

I am in the process of building up our new business now, so I can report back in the near future about how the wine industry is from my point of view. From what I've been told by fellow winemakers and winery owners, it's a pretty stable business all the time. What they say is that when times are great, people are buying lots of wine. When times are tough, they are also buying lots of wine (although it may be less expensive). Unfortunately, that may not be good news for us, in that our wine may seem pricey in this economic climate. Time will tell.

thx for this... i've been meaning to ask, how are involved are you personally with working the crop / land? at this point, is that primarily handled by staff or are you involved in it?