Thursday, July 2, 2009

Which direction to face? UP!

I don't believe I have mentioned before that my husband experienced a salary cut earlier this year. Basically, that cut neurtalized the raise he received last fall. Oshkosh Corperation is a large company that owns several other companies all relating to the same thing - the manufacturing of trucks - all kinds. (Can you tell I am not very savvy in the understandings of the business?) This past year, Oshkosh Corp. lost a bid with the Dept. of Defense which then caused a downward spiral for all the companies that they owned. My husband works for Pierce Manufacturing where they construct fire trucks. In addition to the pay cut earlier this year (or winter of 2008, can't quite remember), Oshkosh Corp was forced to cut some 10% of its employment status - which means several people lost their jobs.

Thankfully, Paul wasn't one of them. At the end of spring, another company wide salary cut was put into place bringing the cutbacks to 9% for Pierce Mfg., even higher for Oshkosh Corp. itself. A ferlow system was put into place to help make up for losses. This mandate meant that everyone would be taking required time off without pay. We watched as Oshkosh Stock plummeted from $66 down to $3.85 in the matter of a year. In the past eight months, thankfully it has slowly creeped back to $14.50. At least it's the direction we want to see - UP!

Paul came home with a smile yesterday informing me that Oshkosh Corp. WON the new $1.1 Billion contract with the Dept. of Defense for a M-ATV Truck delivery order. While I have absolutely no idea what a M-ATV truck is - I do know what this contract means. It means the direction of the company will continue to go UP! It means that the pending layoffs and salary cuts should not be necessary, it means that there is a high chance that the employee salaries should return to normal and it means that the Stock should also go UP. As of 7pm Tuesday night, it jumped from $14.50 to $18.47. That is a 27% increase in only a matter of hours.

What does this mean for our family? If Paul's salary returns in full, we won't have to put everything on hold anymore. Our spirits about our immediate future will go UP! We have so many plans for our family's future, beginning with expanding it! We were hoping that our finances would allow us to start trying for another baby by this fall. I know many of you out there know how tight living can become when you are supporting a family with only one income. I am sure many out there are have no income at all. There has been quite a bit of pressure of Paul!

We are rejoicing in God's mercy that things didn't get really bad for us. And certainly, they could have gotten alot worse! I am fully aware that we will continue to experience ups and downs in our life and I know that God will be there to guide us along the way. We will find His encouragement and support should our plans for more children be not His plans. We will hold onto his coat tails all the while keeping our faces - UP!

"Therefore take no thought, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed? for your heavenly Father knoweth that ye have need of all these things. But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you." - Matthew 6:31-33


An article stating more on Oshkosh Corperation below



Holly said...

This is great news that the company got the bid! I'm sure you guys and so many other families are grateful.

Kelli said...

That is great news! My best friend Rachel's new husband works there, his name is Ryan. He isn't on the line so i wonder if they work together!

Kate said...

That is wonderful! I am very happy for you all!

Eva Gallant said...

good for you!