Callandscaper

http://www.wakefieldlandscape.com
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    • Sat Jul 19th 11:01 AM | Rating: 0 0
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      Earnings Preview: Bank of America
      I am deep in the trenches. Not only did I invest heavy in Banks, I am a landscaper in California. Still, the house payment is paid on time. My neighbor worked for Del Webb 10 years. Pultie homes bought the Sun City project and he finally got his pink slip. How are we making it? He is working on small jobs and for a local Taco Bell owner remodeling.
      My customer base has turned into locals instead of new arrivals building homes. The jobs are smaller so I have one or two clients a week where before it was 1 client every 6 weeks on the bigger jobs.
      My fuel bill went from 1000.00 per month to 1800.00 That's more than the house payment. I have cut costs by paying my guys by the mile instead of the tank, Shop more at Costco. I am holding off buying a new service truck until 2010 when the new diesel that gets 30 mpg comes out(made in India and put together here.) I am getting rid of my storage shop and working out a deal with a local gravel supplier to save $600.00 per month. Cut the book keeper back to every other week. Laid off one employee who will do fine with his own route I helped him build. Not blowing money on look good advertising. I am raising my rates 10%. So the times are a little tough and everyone cuts back. The bad business plans will fade away. The glut of other landscapers will fade and the smart guys who plan out a few years ahead will be stronger then ever. I look at my great Aunt and Uncle in their 90's and they survived the 30's and 40's. Banking will never go away and the price of stock just gets better for long term. BofA will not go bust nor will other high dividend top dog Banks around the world. I have had to write off 20 percent of my budget on bad client debt more then once in twenty three years with cheating builders and I am still here. I am keeping 40 percent in cash and I am letting the rest ride as I add more. If I lose so will the rest of the world. Just in case, I am growing my Vegetables and saving $6.00 a pound on Heirloom tomatoes.
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