“History is merely a list of surprises.”                 –Kurt Vonnegut Jr.

This March, The Wall Street Journal Blog, “Laid Off and Looking” ended. They had followed out-of-work professionals and their struggles to move on. Their readers, a fraternity of survivors, were bummed. “Do not shut this sucker down” was one response. “Pls do not shut this blog down. I need it.” What’s the WSJ missing?

Then a couple of weeks ago, The Vault discontinued their blog, Pink Slipped, which gave job leads and tips for Pink Slippers.  They stated:

“The economic conditions that served as the founding raison d’etre … increasingly seem to be waning.”

I tentatively agreed. The headlines didn’t blare business obituaries like last year. Sure, there are substantial companies like Goldman and Ernst & Young that are facing the big bad wolf, but collapse seems unlikely.

So I was surprised when I started updating The Memorial Garden, our list of dead companies. The number of newly closed companies is mind boggling.

Have corporate failures become second page news? If you’re among the 2010 company bankruptcies, liquidations or flat out busts, what is your story?

Laurie Phillips writes for and about businesses. She is a multi-time member of The Dead Company Club.

cool and creative photo courtesy of flikr.com/bensonkua

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Surprise! Companies Are Still Closing!

Tweet This Post

YIKES. This was the prescient license plate of a former investment broker who can’t afford the car anymore. It’s my G-rated exclamation when I read about the growing stacks of worthless stock certificates, old employee IDs and the latest additions to the club.

American pastimes closed indefinitely

Closings have gone way beyond what you read in the headlines. Our pastimes and culture- loosely defined – are getting hammered. Across the country bookstores, opera houses, gyms, race tracks, daycare centers, even museums are getting whacked. Gone. It’s a true Catch-22. These businesses exist on discretionary income. But if your company closes, you don’t have discretionary income which causes these companies to close.

“Discretionary” redefined

And what the hell is happening to state and local government jobs? Schools are closing. DMV offices – yes, the quick service centers in New York – are closed. Prisons! Freakin’ prisons! And how about this one: Virginia closed 18 highway rest areas in the midst of summer travel. Only 19 are still open. The average distance between rest stops now: 120 miles.  The new state motto ought to be “Virginia is for lovers (and people with strong bladders, parents be strongly advised.)” Are these really discretionary services?

Get a GPS

If you’re thinking “Oh, I’ll just stop at the next exit,” let me share some experience. The facilities at fast food stops and convenience stores aren’t designed for summer travel volume. You’ll need a GPS to find your way to the nearest library or state park to use their services – if they haven’t cut back their hours. At least Garmin, the GPS leader, will still thrive. Ironic that their stuff is manufactured in Taiwan. Now that’s a pisser.

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

What Could Possibly Close Next?

Tweet This Post

“No one ever told me that grief felt so like fear.”   C.S. Lewis

I was shocked and saddened by the number of companies I added to the Memorial Garden (below) during routine blog maintenance today. What has happened to all these former employees? What about their families? Their sanity? Mortgage payments? Health insurance? The extent of pain is hard to fathom.

There are some characteristics that members of The Dead Company Club share. You’ve become involuntarily unemployed. Your pride and self-esteem is bruised, if not battered. Your job search is stressful. You probably don’t have enough money to live worry-free for an indefinite period. And your financial cut-backs are going to hurt others, either directly or indirectly. From the local newspaper publisher to your lawn service to the family that you move in with again, everyone is going to suffer.

Company failures hurt. I don’t want to keep adding to the Memorial Garden. But if your company’s name belongs there, you can find safe haven here.

The Dead Company Club is here for the sole purpose of providing support to anyone whose company has crashed and burned, whether it happened last week or a long time ago.

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Too Many Members

Tweet This Post

When the next company I worked for died, I raised my eyebrows, recognized the irony, and help my fellow job-losers cope.  My first hellish experience had taught me a lot: most importantly that it wasn’t the end of the world.  Yes, it was tough dealing with the stress, fear and pain. That old saying was true:

“When one door closes another opens but being in the hallway sucks.”

However, I came through it, as did many others who have ended up far better than before. You can do it too. Believe me, you’ll eventually be able to look back at this without your blood pressure spiking, and possibly even smirk at how much you mourned losing what then looked like the best job that would ever come your way.

How big is The Dead Company Club membership? Big. Really big. In 2008 there were 250,000 new members. So far in 2009, we have over 40,000 by my somewhat unscientific count. It’s a huge group if you go back far enough and consider more of the big companies that have cratered. The Memorial Garden lists only a few. Feel free to send the obituary of any we’ve missed.

This blog is dedicated to those who are struggling with the loss of their employer, no matter how long ago. I hope you’ll tell us your stories, hilarious or sad. Many of us have probably had similar experiences. Defend your company if you want, spew on them, or ask for help. For those that have made it through, we hope you’ll add your experiences. In the meantime, we’ll try to keep it real, but we can’t promise anything.

Welcome to The Club!

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Welcome To The Club!

Tweet This Post

Dear Sirs:

Please consider me to be a writer for your blog. I am perfect for the job. Here’s why.

1. I was a corporate chameleon at a company that was the icon of its industry when it was suddenly shut down by the SEC and Department of Injustice. Almost 90,000 people lost their jobs. The media’s flamethrowers quickly wiped out any dignity that remained. Many people, both within and outside the company, suffered crushing financial losses. My primary responsibility was to develop enough flexibility to kiss my ass goodbye without muscle strain. I also developed a great rapport with the IRS.

2. My rebound job was with a hedge fund that did very well for its clients by timing the market. When Eliot “I Don’t Have To Be Ethical But You Do” Spitzer got out of bed and decided market timing was wrong, my primary responsibility became making copies of records for the SEC before the company vanished.

3. After my career bounced along the bottom for a few years, I finally got a respectable position with a major financial institution who should’ve known better than to hire me. Within a year their stock price went from $60 to $0.94 before being swallowed by a healthier financial giant.

At that point I had a moment of clarity and realized I should be focused on what I’m really good at, which is sharing my experience with others whose companies have died. I’ve found out it’s not all that bad, really.

I hope you will consider me for a position there. Companies are dying everywhere, my experience is becoming commonplace, and I can’t get work anywhere else.

Sincerely,
Impish O’Flannagan

———

Dear Impish,

You have the job. You can start on Monday.

The Editors
The Dead Company Club

Post from: The Dead Company Club The Dead Company Club is a hobby of the writers at Sundance Research. Sometimes they just need to write about their own stuff.

Repeated Failure Lands A Job

Tweet This Post