The "R" word?
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- epete220
I think if you bought a home you cant afford you should lose it. If you signed up for adjustable rate mortgages to keep payments low and only pay interest then you should lose your home. The government should not bail people out. For the last 8 years I have seen an insane amount of people out during the work day, shopping, eating, drinking, getting wasted and for all this time I have thought. Don't these people have jobs. Well they may not have jobs but all that purchasing is going on credit. Just buy what you can afford and save for what you want. Or freelance for what you want.
- Bluejam0
http://www.guardian.co.uk/music/…
"Last night came final and irrevocable proof that the country is entering tough economic times, unseen since the 80s: AC/DC have returned to the top of the album charts for the first time in 28 years."
- < Hehehe, got HellsBells on right now. AC/DC ROCK.SkyPoo
- Khurram0
"There will be no return to boom and bust that's for sure."
That's what they said last time...
You know what i find galling is the way every two-bit economist on tele is trotting out "it's the return of Keynesianism" "Keynesian economics predicted this" it's all about the "Keynes.."
when they spent the last 30 years destroying the foundations of Keynesian economics.
You know, IMO, the fault of this "recession" is OUR fault. It's the people who elected these political leaders demanding of them to provide ever more unrealistic economic prosperity. Boom and bust is the only system that gives you these dizzying highs.
- sorry, missed your note on the last line above!
Khurram - Aye, true.SkyPoo
- yeah, and our quick fix culture will demand boom and bust for eternity. They'll be philsophical about it.... "it's just a hangover!"Khurram
- hangover!" This is reflected in the binge drinking hedonism we have witnessed all around us the last decade. Which i thoroughly disapprove ofKhurram
- throgoughly disapprove ofKhurram
- haharibit
- sorry, missed your note on the last line above!
- Khurram0
One of the very few certainties is that there will be a lot less of pretty much everything.
There will be less big-ticket brand advertising and top-level sponsorship, partly because many organisations really can’t afford to spend the money on it, partly because many don’t want to be seen to be spending the money on it and partly because those now largely owned by the government won’t be allowed to spend the money on it.
And there will be less promotion of financial products because there’s not much left to promote when you’ve taken out the products that the providers don’t want to sell (for example mortgages, loans) and those that most consumers can’t be persuaded to buy (investments, pensions).
- this is just about "financial" branding and marketing and advertising.Khurram
- gramme0
I VOTE FOR SPOOKY IN 09!!! EARLY WRITE-IN SENT!!!!
Oh Heavens...
What have I done
- 23kon0
I'm with Spooky.
Companies are going to tighten their purse strings in the sense that they'll watch what they are spending their money on.
They will want to be making sure they get the best services for the money that they are spending.This means that they'll be less likely to go to larger design houses who decorate everything with bullshit, overcharge and give a substandard service and more likely to look for companies who actually deliver what they promise and more importantly, can demonstrate the impact that this work will (and does) have on helping the company kick ass against their competitors.
In the world of these businesses it will become dog eat dog.As a company, we've never been busier and we've also had to take on extra hands to cope with the load.
- paraselene0
"No one knows if we have reached the bottom of the cycle yet," said Dominic Proctor, the chief executive WPP-owned media operation Mindshare Worldwide. "Marketing dollars haven't dried up yet but they have slowed down in most markets and that will strangle weaker media."
I think you're mis-defining the word 'media' in this context. It actually refers to the publishers themselves who are dependant upon advertising revenue to stay afloat.
- waaaay late. that was aimed at the discussion about 20 posts back...paraselene
- who u talking to? what you referring to?Khurram
- i'm talking to you. basically, none of us here work in 'media' in that context. they're refering to the publishers.paraselene
- who are? where is that quote from?Khurram
- oic. I was referring to 1 aspect of design industry. The media is that which brings producers and consumers togetherKhurram
- all market is done via "media" of some form. Even tho that article referrs to a specific sector of the media (publishing/tv)Khurram
- (publishing/tv), i think its prescient as to the way advertising/marketin... responds in a recessionKhurram
- this is from an article that you quoted alongside your claim that people who work in 'media' are fucked.paraselene
- i'm just saying, i think you misunderstood the way they're using the term 'media'.paraselene
- i think you may have misunderstood me. But nevermind. Apologies if i seem argumentative.Khurram
- no! nevermind. i'm just typing randomly.paraselene
- roundabout0
I was around in the recession of 1991 and some very good design companies went under then. Recession and advertising do not mix very well, never has done, and it's one industry that gets hit hard, But saying all this in 1991 the internet was not about, so it will be interesting to see how the Internet reacts to recession, and how that reflect back on advertising. It mite be a life saver for us all, and I might have to go back to web design.
- chossy0
I am pretty sure I will be let go in a couple of months or maybe February, so I have taken out an income protection policy :D that way I have a year to get my shit together.
I have been through this before and it was directly after 9/11 the advertisers almost immediatly shut up shop in Scotland, and I did nothign for about three months then the company had to close, at the moment I am doing very little at work and so is my co-editor while one of us is working the other is archiving, this is fine as we need to take the time to archive stuff but our bosses don't see it that way and if we are both not editing at the same time then they think we are not worth the money.
- TheBlueOne0
Shit. Dow dropped 161 points on open to be below 9,000. This is nuts.
- Make that 206 points...TheBlueOne
- ...295...TheBlueOne
- dude, i'm here monitoring the FOREX pound sterling figures, it's going nuts!!!Khurram
- ...348...TheBlueOne
- TheBlueOne0
I feel unless there is some kind of massive turn around (which I doubt) my main job will be in jeopardy come march '09. We have a two big contracts that pay us until then, but nothing new has come down the pike...and the architecture/build industry is frozen now. Our subcontractors are crying. Kinda started to get a wee bit scared. Will have to focus on scaring up some more freelance work. More worried about losing my medical benefits...
- johnnnnyh0
"how the Internet reacts to recession"
Good point - I'd not thought of that but actually it will be interesting to see whether it is robust enough an industry to deal with recessionary pressure. I think the key is that with the internet the delivery route is free - so you can sit at home, advertise, update, rebrand whatever and it may not have cost you a bean. Obviously the degree to which you can do this "professionally" will vary greatly.I think that some businesses that should have failed earlier will now fail, since there is less fat in the system to support dead weight businesses. I will be interested to see how other sectors deal with it, for example tourism or events etc.
- imnotadesigner0
I thought the "R" word meant "revisions".... much scarier.
- Khurram0
yeah, 09 will be the crunch time.
Most of the work, esp advertising, marketing, brand-work etc... Is money that was already earmarked in the fiscal year April 08.
You wont truly feel this until the next fiscal year.
Also, re: general work for designers - Internet advertising will show more resilience than any other, because it's cheap and easy to disseminate. Someone like in more traditional work, i.e chossy, scary picture, 4.6% decline this year.
Even in terms of online ads, the only "buoyant" sectors are cheap shit like google ad words and classified...
To put the fear of god into you lot:
"'Horror show' year ahead for media firms"
http://www.guardian.co.uk/media/…
- Khurram0
mmmmm, i dont know where you guys confidence comes from...
ITV battles advertising downturn
http://news.bbc.co.uk/1/hi/busin…Advertising downturn cuts 33% off SMG profits
http://www.independent.co.uk/new…Channel 4 faces budget cut after advertising downturn
http://business.timesonline.co.u…you're all fucked!! :D
- 23kon0
"Mmmmm, i dont know where you guys confidence comes from"
Aye the start of 2009 when it comes to trying to get in new work will be a challenge but im confident that there will be clients out there looking for high quality design / seo / web work. design firms will have to prove their worth to win the jobs.
Clients will hopefully realise that going for a company that is "cheaper" is a BAD move (like they all do eventually anyway lol) and that they would be better making an investment in GOOD work.
Clients will also be looking for the most economic way to reach their audiences too, so Kharram, yeah definitely reckon it will be the interweb that everyone will be shooting for rather than spending money on getting lovely expensive brochures printed out or expensively designed annual reports.
Folk are doing that already though. The British HEart Foundation with their lovely annual report site online. When was the last time you were given a healthy budget to do a 'Print' annual report. I bet it was 3+ years ago! Folk are opting for the interweb now.
Those links you gave are for advertising budgets - thats completely different from websites and annual reports etc.
A lot of advertising is just an excuse to spend a shitload of money on something that probably wont ever yield the same return.
