How does one reconcile the frightening news about the global economy with the upbeat forecast of 6,100 new jobs for 2009 heard at Tuesday’s Wichita Area Economic Outlook Conference? By recognizing that Wichita has its own unique strengths, including a roaring aircraft manufacturing sector with sizable order backlogs, and that it mostly sat out both the housing bubble and bust at the root of Wall Street’s woes. Wichita isn’t an island, especially when it comes to credit availability and energy costs, but cautious optimism seems in order. With a company such as FlightSafety International able to announce new plans this week to add buildings, simulators and 250 to 320 jobs at its Wichita facilities despite these uncertain times, Wichita is looking like a great place to ride out this financial storm.
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41 Comments
Part of the benefit of being a conservative state that promotes business in a sensible manner.
The financial crunch will eventually affect everyone, including Kansas.
As it stands now, Kansas doesn’t have the meltdown economics of California or Massachusetts (early crunched states.)
Kansas usually lags 6-8 months behind when financial peaks and valleys hit the coasts
I have a real bad feeling about aircraft in view of the global meltdown. As noted, we tend to be lagging in these things.
I wish we were diversifying into industries that might also use similar technologies as aircraft. One of these is wind turbines – strong light-weight composites and aerodynamics.
It’ll be no thanks to our repub. delegation, they would have let credit shrivel up like a raisin, and aircraft sales right along with it. But, hey, they would’ve kept their jobs and pensions.
“bth
Posted October 8, 2008 at 1:42 pm | Permalink
I have a real bad feeling about aircraft in view of the global meltdown. As noted, we tend to be lagging in these things.
I wish we were diversifying into industries that might also use similar technologies as aircraft. One of these is wind turbines – strong light-weight composites and aerodynamics.”
Agreed.
I think a state tax credit for wind production PPE and a net metering law in Kanas would be a great start to encourage this.
The business world of residential and commercial construction, airplane and automobile manufacturing, real estate development and a lot more business activities that I could list … operate on borrowed money for upfront and long term costs. Big development companies borrow from big insurance companies, union funds, etc. when they outgrow banks and local finance companies.
I predict this financial meltdown is going to spread through the U.S. and world economy in ways not even anticipated at this point.
False optimism by amateurs is not going to help at this point.
You can bet big ticket items like personal jets, corporate jets, and airliners need plenty of financing.
Our Senators were so short sighted or didn’t care, they just voted to protect their jobs.
AIG was a big lease operator for boeing jets. Had heard they were going to sell that part off, before the bailout, don’t know about now.
#
bth
Posted October 8, 2008 at 1:42 pm | Permalink
I wish we were diversifying into industries that might also use similar technologies as aircraft. One of these is wind turbines – strong light-weight composites and aerodynamics.
————————
Got something against agriculture? :D
Already it has touched our family as a son-in-law was called into the office where he worked to be informed that they were laying him off due to sells. Where I work they have assure us that there is no worries for the time being. But that we should be prepared after the first of the year as it is then that the company sees that the impact will hit them. My wife is worried sick as her employer has already suffered through the aftermath of 9-11 and was still not on stable ground even now.
Phantom, the aircraft leasing arm of AIG will be one of the first “assets” to be sold to raise cash, according to this:
http://money.cnn.com/2008/10/08/news/companies/aig/index.htm?cnn=yes
Note that AIG is coming back for additional funding from the Fed as well.
That (AIG selling its aircraft leasing business) is to me why the projections made for Wichita’s economy are not realistic (unless the job “gains” in aircraft are the result of the current Boeing strike being settled).
It’s funny to hear “predictions” from this place.
There were a handful of folks on here a few months ago even that knew something was wrong (I can name them).
The rest of you are tagging along now. But never fear, you can go back to sleeple, sheeple.
How’s that bank robbery…sorry, “rescue package” working out so far?
9-11 was an inside job, and so was the bank heist.
Truth: Get it.
Whatever happened to the know-it-all? GMCdude?
I think he and Paulie are still trying to digest and rationalize Mccain’s 180 from what the party was saying about bailing out the scum home buyers that jeopardized the economy.
They’ll be back when Rush or Fox tells them what it all means.
avtolle, can’t blame AIG, they probably want to throw another bash.
The best thing Kansas Repubs. could do is to vote out the current R representatives both at State and Fed. level, especially at the Fed. level. That would send a strong message to the party, they’d do some soul searching and probably boot out the extremist, returning control to the moderates.
Instead they’ll vote the R brand, and nothing will change.
Another worry, is the mid-east flush with high priced oil dollars, may cut back on their orders with declining oil prices.
This isn’t looking good, Fed to take stake in many banks to restore confidence.
WASHINGTON (Reuters) – The U.S. Treasury Department is considering taking ownership stakes in many U.S. banks in a bid to restore confidence in the badly shaken financial system, the New York Times said.
http://news.yahoo.com/s/nm/20081009/bs_nm/us_financial_banks_treasury_2
6,100 new jobs?
I thought the economy SUCKED?
If it weren’t beneath his dignity to work, JR might even land one of these new jobs.
“If it weren’t beneath his dignity to work, JR might even land one of these new jobs.”
Why would he want to do that?
He is self employed.
ksfarmgrrl
Posted October 9, 2008 at 10:47 am | Permalink
“If it weren’t beneath his dignity to work, JR might even land one of these new jobs.”
Why would he want to do that?
He is self employed.
——–
Humm, I don’t know….Maybe to put his child’s welfare above his selfishness and be a responsible parent and secure a job that provides health insurance for his kid?
As long as someone is buying planes we should be OK.
Gee, I didnt know all those newly created jobs would provide health insurance.
Link, please?
KFG, it isn’t hard finding a job that provides insurance for someone BlueJay’s age. The only time in my life that I had a job with out it, was when I was a teenager…
P.S. Do you powder J R’s bottom and tell him everything is going to be OK? I think the idiot can speak for himself.
Are you familiar with the companies where the growth is going to be?
It doesn’t take a link.
So… EVERY job created has health insurance?
What color is the sky in YOUR world?
And since JR isnt here, which is when you nut jobs want to gig him, I didnt think it mattered if I pointed out that JR HAS A JOB. One he created for himself.
And yeah, Kia, humor me. Tell me which of those PROJECTED jobs have insurance and which dont.
Go ahead. I’ll wait…
Put it this way, every employee at any of the aircraft companies whether a union member or administrative receive the same benefits as the union employees.
They can of course turn these down as my wife chooses to do.
My little 15 employee company pays for my health insurance for myself and family. It was the deciding factor for me in taking this job.
Choices.
JR HAS A JOB. One he created for himself.
======
Great, Now how about being responsible parent and making sure his kid has insurance?
BlueJay chooses not to have health insurance, that is HIS choice.
It’s clear JR’s self-employed job does not bring in enough $$$ to afford health insurance for his kid.
Yet he constantly whines here demanding SOMEONE ELSE pay for his kids health insurance.
You’d think if he cared about his kid, he’d do whatever it took to get insurance for him.
McDonalds has openings for jobs with insurance. I’ve posted that before.
But those are beneath JR. And JR WON’T do whatever it takes to take care of his own kid.
Ok, so I guess that’s a NO on being able to tell me how many of the 6100 PROJECTED jobs have health insurance.
Thanks for playing.
If you’re blind it’s not my problem.
KFG, you and the other Lib-O kooks have been chasing your tails all day. Go lay under the porch and take a break, come back when you have some intelligence and reason to display.
Anti?
Go fish
ksfarmgrrl
Posted October 9, 2008 at 11:27 am | Permalink
Anti?
Go fish
=======
Good idea, I might load up the poles and head out tonight for some flat head catchin’. I love the cool nights.
J R’s kid does have insurance as does every kid in Kansas of modest means. No thanks to George W. Bush, but as much as I hate to admit it, thanks to Pat Roberts.
I sure as hell hope you are a better fisherman than you are blogger. Otherwise, the frying pan will be empty for you!
StevenEDavis
Posted October 9, 2008 at 11:30 am | Permalink
J R’s kid does have insurance as does every kid in Kansas of modest means. No thanks to George W. Bush, but as much as I hate to admit it, thanks to Pat Roberts.
=====
Yeah, J R was forced to work for himself….Everyone else’s fault but their own…Idiot!
Lib 101
ksfarmgrrl
Posted October 9, 2008 at 11:31 am | Permalink
I sure as hell hope you are a better fisherman than you are blogger. Otherwise, the frying pan will be empty for you!
——-
I don’t eat flatheads, I catch them because they are huge and fight.
libs say, “Arf, arf, arf, hah, hah, arrrp!”
“Regular
Posted October 8, 2008 at 5:42 pm | Permalink
#
bth
Posted October 8, 2008 at 1:42 pm | Permalink
I wish we were diversifying into industries that might also use similar technologies as aircraft. One of these is wind turbines – strong light-weight composites and aerodynamics.
————————
Got something against agriculture? :D”
NO. But I’m not sure just what industry here in the City of Wichita I would expand to support agriculture. That would be more likely up at K State.
ANTI
Posted October 9, 2008 at 11:32 am | Permalink
StevenEDavis
Posted October 9, 2008 at 11:30 am | Permalink
J R’s kid does have insurance as does every kid in Kansas of modest means. No thanks to George W. Bush, but as much as I hate to admit it, thanks to Pat Roberts.
=====
Yeah, J R was forced to work for himself….Everyone else’s fault but their own…Idiot!
Lib 101
***************
Huh??? Non sequitur: Thy name is ANTI.