re: Baker Hughes to lay off 7,000 employees

I'm in a stable industry and I don't spend money on stupid shite.

My dad has been a PE his whole life. He's in corporate now so he's safe, but from the time I could understand him, he made sure I learned one thing. NEVER get in O&G unless you're damn sure you're indispensable. Otherwise you're a hostage to the market.

Might see if I can get a great secondhand ATV. Market should be flooded soon with those and boats (not just from this company).

He is wrong. But in fairness almost everybody in these threads assumes all O&G workers make half a million a year and still live paycheck to paycheck even though they live in a double wide

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Not saying everyone does but a lot do. Not exactly paycheck to paycheck but not liquid enough to support their current lifestyle for several months while they find another job/career. People tend to live up close to the level of the money that they make. Even people who are considered to be savers, would start hurting pretty quickly if they lost their primary source of income.

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And I never could understand this. I work for an engineering firm and I know what to expect. The reason they pay us well is because our job security sucks. If you know this why on earth would you live pay check to paycheck. My wife works but I make about triple what she makes. And we have a child. If I lost my job tomorrow I could survive for probably 5 years without a job making very few cutbacks in my lifestyle. Most people are just terrible at managing their money.