I suppose because its a major refining area. Across the street from me is a house under construction that has is valued at $360,000, a new hotel is going up not far away, 3 new restaurants are being built, and new homes all over the place, also a major sub-division is being readied for sales. To look around here, life is thriving! Only in the markets are we being hurt. So the guy losing his job is not so much the norm here. Some time down the road, we here in my little town will get the full impact as well, but right now it's party time, or so it would seem.

In California where my son is teaching flight school, his company has already broken their contract and is refusing to pay agreed upon wages (to him and 50 other pilots). They have even documented that they will withhold their current pay until they sign a NEW contract. That's called 'under duress' I believe.

Sadly I think we will be seeing more 'cannibalization' in this economy. I am glad here in Lumberton we have had a temporary stay of economic execution so far.