Walking in the Valley A weekly column for those who live and walk in Silicon Valley by Barbara Dahlgren

Until recent events people were hesitant to use the "R" word. It was called a slump, a pause, a plunge, a slow down, a tumble, a drop, a limp, a dip, a decline, a hesitation, a lag, an intermission, a lapse, a lull, and an interruption. However now that stocks have taken the worst downturn since the Depression, the "R" word is becoming a reality. How bad does it have to get to use the "R" word? Recession!

Even before the airlines started laying people off headlines read: "Yahoo cutting 420 jobs!" "Lucent hands out 2200 layoff notices!" "Cisco lays off 6000! 1500 are from Bay area!" "Disney lays off animators. Salaries of those remaining will be slashed 50%!" "3M to lay off 5000 employees!" "Nortel cuts 10,000 jobs!" "Charles Schwabb cuts 2400 more jobs!" "AOL to shed 1700 jobs!" "Ford Motor to cut up to 5000 jobs!" "Agilent to cut 4000 jobs!" "Law firms layoffs produce anxiety!" Hey, it's got to be pretty bad for a lawyer to be looking for work!

The Business section of the newspaper reads like an obituary: "Albertson's to close 165 stores!" "McWhorter's stores fold!" "Super Crown to close doors!" "The end for the Industry Standard!" "Webvan folds!" "Montgomery Wards goes out of business!"

Even those companies who manage to stay afloat need life preservers: "Gateway loss up to $533 million!" "HP profits plunges 89%!" Let's face it, unless you are Starbucks or Krispy Kreme, you are in jeopardy.

Homes for sale are piling up. Bankruptcies are at an all time high. Donors are cutting back on gifts to non-profits. Doggie bags are now considered chic. Senior citizens don't get married but opt to just live together to share expenses. Job perks are a thing of the past. Unemployment is the steepest it's been in over a decade. College grads can't find jobs. Some students who dropped out to be hired by high tech companies are even going back to school to finish their education.

Obviously, a few rate cuts by the feds and a tax rebate check from President Bush didn't deliver us. The fact is we all will have to do a major paradigm shift to survive. Changing our way of life and our way of thinking is not easy. In fact it's down right hard. But Spencer Johnson's book, "Who Moved My Cheese?" points out that people have to be flexible if they want to recover from economic hardship. It's a good read for those facing difficulties at this time. It's short and simple but it works. I would suggest you buy it but with the economy the way it is why not see if it's in the library?

Of course, economic hardships are nothing compared to what some have faced during this time of crisis. But they are a harsh reality to some of us right now. We have to survive as individuals if we want to be able to help our nation as a whole.

There is another book that makes for good reading in tough times. It's chocked full of practical advice, truth, and encouragement. It probably won't cost you anything because most people have one around the house somewhere. It's called the Bible. If you don't know where to start why not try reading the Psalms or the Proverbs? You might be surprised how much of it relates to us in times of need.

©October 2001

Be sure to visit this page every week to read the next edition of Walking in the Valley. You can write to the author at bydahlgren@aol.com.