Wicomico County has become increasingly vulnerable to economic downturns as a result of non-diversity in industry types. Listed on MACO - (Maryland Association of Counties) - Wicomico is the only County out of 24 Maryland jurisdictions that list Education as its primary industry.
Despite what you hear about Agriculture or Poultry, Wicomico County's largest employer is in the Education Department. So it should come as no surprise that when the revenue streams start to dry-up on news of any economic downturn in the US economy, that the Educational Industry will also follow suit. The only exception to this scenario is the Federal Government located in and around St. Mary's County or Southern Maryland. In that area they can just print more money and raise their debt limit masking the real economic realities. That's what helped to spawn the tea party rebellions held across America just a few weeks ago.
During economic downturns most all other Industries throughout our Country try to downsize, cut overhead, shave benefits, and that should be the same technique being considered here in Wicomico. What happened the other night with the BOE voting to increase their health care benefit package in the midst of the greatest recession since 1929 - has got to have ramifications for those of us that are primarily on the paying end - the Taxpayers. Moreover, the audacity to raise these benefits is discriminatory against the minions of other government agencies ranked in the system that are already having to make similar and even larger sacrifices.
A civilized society cannot exist by exempting certain groups based upon a system that ignores the economic realities of our Free Enterprise System. It didn't work when the British tried to imposed their will by imposing tax on the Colonies and it ought not work now.
So stay tuned Delmarva as we enter 2009 and prepare the budgets for 2010. I do not see any immediate economic relief in sight for the near future. Just this past week we saw Chrysler announce additional closures with GM following suit. Next week it is likely GM will file for bankruptcy protection. We've now seen failures of Citicorp, AIG, Bears Stearns, Fannie Mae, Freddy Mac, among many other industry giants. Oil is starting to rise again and the economic storm winds are starting to brew yet again.
We now have a President that is assigning new Corporate salaries while simultaneously replacing CEOs. Socialism is on every channel - (exception CNN, NBC) - while GE's CEO, Jeffrey Immelt, is trying to cash-in for his supporting of Obama by riding on the administration's coat tail. And just this morning it was announced that the Federal Governments stake in GM could be as large as 70%. That's right you heard it, the Federal Government will have a 70% stake in one of America's largest private industries. If that is not fitting the precise definition of Socialism I don't know what is.
Beezer
30 comments:
GM = "Government Motors". You heard it here first!
Thats a scary thought Centz
The sky is falling Chicken Little!
Is there any real surprise. Look at the current and past County Council. We elected them them on lies and false statements. TIME for change
I was wondering if maybe I was the only one noticing that Education was our areas No.1 industry.
Beazer it caused you to raise an eyebrow to. One look around and one can easily tell where all of the money is being spent.
Government Motors? So that's why Red China is investing so heavily in America.
Wicomico county is going down.
Money grabbers, ha ha dont work no more you little money grabbing county officials.
The site also mentioned Manufacturing, now PLEASE!!! don't make me die laughing.
Reference Posting 12:40
There used to be some manufacturing. But we have lost a boat load of manufacturing industries over the past 5 years.
The last of the large ones to leave was Bayliner and they headed south. So did Dresser. And look who bought the Dresser facility, Salisbury University. I agree with Beezer. Looking at the big picture Education is everywhere.
Teachers and county officials must , i say must take pay cuts like the people paying their salary have done. If you dont , well your not helping the children and that is why most of you say you are a teacher.
So tell me is it that your in it for the money ? come on now tell the truth.
I agree that it is a scary scenario. If the economy is this bad locally can you imagine what it is like all across the Country.
In light of our recent turn in our Country's form of governance - Venezuela's President Hugo Chavez doesn't look so bad after all now does he.
Wow!!! It really happened so fast to.
I never thought our government would change this fast. The major changes have occurred in less than a year.
A Government must adapt to the times and situations presented to it. Adapt or die. Give the people what they want and let them eat cake...
I do not believe that the average american really knows what has transpired as it all happened so fast.
There was no time for the public to react to the way things played out. Locally, look at our own fiscal house - 130 million dollar budget dropped to about 115 million in one year. What do you think will happen in next years budget?
To 1:18 Poster:
I've got news for you Hugo Chavez couldn't even move his country toward Socialism any faster than what America has currently experienced. Note the number of industries socialized in Beazer's commentary.
You will never read about any of these local events in The Daily Times newspaper.
I can guarantee you they would never allow the subject matter regarding the BOE to go to print.
Thank you SBYnews for shining so much light here locally.
Hey Genius:
Did it occur to you that most of those engaged in agricultural production are "owners" and not "employees".
Diversificaton?
I don't think this County or any other Maryland County will attract any new businesses. Point is that Maryland is so hostile towards businesses in general that only an imbecile would consider locating in this State.
'There is no water for the Ducks' figuratively speaking. With so many taxes it is much easier to locate into DE, Nevada, Carolina, Florida. They'll never be able to attract businesses under the present environment.
There is no manufacturing here now...take a ride threw industrial park during 9-5pm...most parking lots are empty, some 3-4 cars....most have all laid-off, closed or closing!
Wake Up people!
Hey Anon 1:13, when everyone agrees to a 8% pay cut and a 50% increase in how much they are paying for health care premiums, maybe then the teachers will stop complaining. Until then, teachers have earned advanced degrees (unlike most on the Shore) and are earning their pay (in addition to teacher they are often dealing with behaviors too). Stop complaining about "how much money teachers make" when everyone is responsible for their own life/career path choices. If the pay is cut, teachers WILL leave... or at least the good ones will anyway.
When did education become a terrible thing????? I always thought it was a good thing to get an education.
Education is a relevant subject.
Should Education come at such a steep price that it suffocates all other facets of the economy?
I think that is the bigger question for our County to pick-up on. You'll find a growing number of teachers that will tend to agree. We are suffocating all other industries by an ever burdening educational system.
"An ever burdening education system"? The County barely contributes 30% of the Education budget in Wicomico. The rest comes from the state and federal. It is really time for this county to start contributing its fair share to the eduction budget. It is other areas of the county budget that are actually increasing more than education. I'm also guessing that a nationally ranked and growing university is a bad thing too? Boy, we really are doomed if this is the prevailing sentiment in this area.
Industries don't stay here because the state isn't business friendly. The workforce of the Eastern Shore is lazy, has a lot of drug & alcohol problems, and most of the educated workforce has moved away. Two major industries, Crown and Dresser closed up when the unions went out on strike, which was probably just an excuse to leave Maryland.
CEO's giving themselves millions in a falling economy is robbery. I look at this more like Union busting and Reagan did the same thing.
Despite some accuracy issues with your comment about the 'largest' industry (the employment measure is not the standard - total sales is, which is why Agriculture is far and away the 'largest' industry in Wicomico County), you should know that in general you're right that we have a HUGE problem with industrial and (more broadly) economic diversification in this County. Something has to be done and I know SWED works hard on this, but I don't think its enough. How about starting a forum for ideas about where our region's labor, locational, and infrastructural strengths can be applied to industries without a presence here today?
PS: This has nothing to do with the federal government, socialism, democracy, or any other type of government 95% of you don't understand. This has to do with the failure of you and I as business owners and community leaders. Take some personal damn responsibility.
I'm a teacher and I don't expect a raise this year and nobody else should either. The BOE raising the retirement health coverage in this economy is irresponsible. It was probably done to reward those top Assistant Supps who are retiring this year. However, teachers shouldn't have to defend their salaries for the service they provide to the taxpayers of this county. Teaching is a profession, not a job, which makes teachers responsible for improving themselves professionally every year and they should be compensated for their professionalism.
Ref:
'Teaching is a profession . . .should be compensated for their professionalism'
But at what cost? I agree with 9:21 Posting, it is now killing our local economy. You can tout education, education, till the cows come home, but look at the stiff price we are paying locally.
It's killing our economy.
I to am a college graduate and could probably teach if I wanted to but this subject needs to be thoroughly investigated. In my estimation we are now way over educated.
Reference to 8:19 Posting that Agriculture is areas largest industry because of sales data.
You are wrong! You analysis is based on flawed reasoning. You cannot exempt the entire Educational institution from being assigned an industry code because it does not have sales. I don't know where you are coming from but your underlying premise is wrong.
Signed
CPA
To 8:19
Why is it that when i go into a store , the clerk cannot make change without a register that does it for them.
Please this is what public schools teach.
This does not apply to college level , who are paid by student or parent , not taxes.
Amazing! Some people actually have different abilities than others. Some are smarter, and others work the cash register. Quick, call the press!
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