How to Stay Ahead When Employers Are Decking the Halls with Pink Slips

It’s amazing how the financial crisis is starting to affect people you know… and your stocks.<br><br>A friend who works for NBC told me recently that people there were getting pink slips. And, she noted, it happened last year at this same time. Not a great way to go into the holidays, is it? <br><br>But get this: it took a couple days before I read this news in the newspapers! Talk about using your friends to stay ahead of the curve. That’s a perfect example of how — just by talking to others and connecting online — you can get real info to help you make real decisions. This is exactly the type of news we want to discuss at <a rel="nofollow" href="http://www.weseed.com">www.weseed.com</a>.<br><br>Later that evening during dinner, my husband told me about two other friends who just got laid off — one from J.P. Morgan. That company is one of the bright lights in the financial industry, and it’s interesting that it, too, is shedding folks — even though it’s been buying up companies such as Washington Mutual. Morgan’s stock has held pretty well over the last year at about $33 vs a one-year high of $50, while others like Goldman Sachs at $70 and Bank of America at $15 are just a fraction of their one-year highs. Sure, one firing does not mean more are coming, but it’s still enough to perk up your ears.<br><br>Next time you hear about a friend getting fired at a public company, first thing to do is be sure to give him or her all the help you can. Bring your friend a homemade dinner. Losing a job can be devastating. <br><br>And maybe you can turn a negative into a positive: check to see what the stock is doing. Companies commit massive layoffs to try to remain profitable. Scour the news to look for any major announcements about other cost-cutting measures. Maybe you’ll see a pattern of your own that could net you a few dollars. It may not be much, but any extra money is a godsend — especially if your job might be next…<br><br><em>Jennifer Openshaw is co-founder and president of WeSeed, a fresh, fun, revolutionary approach to demystifying the stock market for real everyday people, and author of </em>The Millionaire Zone<em>. The host of ABC Radio’s “Winning Advice,” she’s been seen on shows ranging from Oprah, Rachael Ray, and Dr. Phil to CNN, CNBC and Fox. You can reach her at jopenshaw@weseed.com.</em><br>&nbsp;