The town of Wilmington, Ohio has been devastated by the economic crisis and, as Scott Pelley reports, DHL, the town's largest employer, is shutting its domestic operation.
Stay out of debt. The economy can change and employers get rid of employees all the time. Don't put yourself at risk. Even when the economy is good, don't be deceived into thinking it will last forever, it won't. Build up cash and learn to stay out of debt. Then if the economy does change, you won't be too worried because your in a good position.
Exactly,workers never ever learn.WEVE all lived through crisis after crisis but some of us don’t TRUST the economy enough so we SAVE we don’t splash out on new house extensions new cars etc.What you’ve never had won’t hurt you ,what you can’t afford to have WILL DESTROY YOU.People are so naive they actually think that Governments will protect them.They are such irresponsible idiots.
I remember these times. Just graduated high school in 2006 and the labor market was horrid. I remember being cut on hours by two thirds. I still will never forget the fear of not knowing what was next. I was scared not only for myself but for friends and family and total strangers. 2008 era was one of the worst!
I am terribly saddened with this report. I loathe my job of 23 years, but after looking at this, I understand how blessed I am. It reminds me of my life's mantra: I used to complain about having no shoes, until I met a man who had no feet.
I feel bad for Mark, loosing his son on active duty, DHL made some risky decisions, don't take it personally Mark. You deserve more out of life, your still young enough to start another career. The healthcare industry is one of the fast growing corners of the market. Check out other opportunities like IT and other tech type jobs.
I am laid off now also, and it is a hard thing to deal with. I know at times we all feel like just a number at the place we work.But for all the people at ABX, they were more than just a number to me.There were so many good people there that I had the pleasure to get to know. Now we are a growing number of the unemployed and my heart goes out to each and every one of you. Take care and keep your heads up.
I just happen to notice the date this video was uploaded/published. The day I finally got sober. Hard to believe it's been almost 10 years. I sure hope things have gotten better for these people since then.
as a UK citizen and a massive Bon Jovi fan, I looked this up when I saw an interview from JBJ saying this episode of 60minutes inspired their song track "Work for the Working man". This is so,so sad to watch and my heart goes out to all affected. I also have to say that the Bon Jovi capture the whole theme of this desperate situation excellently in the song that was inspired from this.
I'm from ohio born and raised and when you travel through this state it's the most bizarre experience. You hit areas that look incredibly wealthy and then you go through major stretches of small towns that look like they're barely hanging on.
My father in law worked at ABX in aircraft maintenance. He left and moved the family to KY 22 years ago to work for UPS. He worked there until he suddenly passed this past January.
I work at ABX in Wilmington OH. for over 15 years....it is sad that such a strong company at one time has come to this. I miss all of the people that I have gotten to know over the years there and want to offer them my prayers and hope of a better tomorrow. I know it is not easy and good jobs or any jobs for that matter, are hard to come by. Stay close to your friends, family and loved ones. I wish you all to have a better tomorrow. I miss you all.
My brother went to Wilmington College - been there many times. It's a beautiful town. How sad. I also happened to be in a job that involved shipping and I remember when our Airborne Express account became DHL. Nightmare doesn't even begin to cover it. Why do companies have to screw up a good thing? Hope these people and Wilmington have been able to bounce back.
Did the reporter actually just say that it was like the trauma of Katrina, but just without the physical damage? I'm sorry, how many people have died so far behind the job loss? While I feel for those who have lost their jobs and I absolutely hate it for them and for the town, you cannot compare job loss with life being lost. # inappropriate
S S I agree. I am a survivor of Katrina and lost everything including some friends because they died. Moved to NYC to rebuild my life because I finally got a really good job there in my industry finally. Right when they extended my contract, the Great Recession hit NYC/Wall Street very hard and I became one of the long term unemployed again because of a layoff and total decimation of jobs in the city. Through it all....that Great Recession trauma did not even begin to touch what I went through after Katrina. I’m still effected until this day. I really appreciate you having enough empathy to recognize that. ❤️
DHL's responsibility is to make a profit. It is not their responsibility to create or maintain jobs. If management was unable to find a way to make a profit, DHL is doing the right thing by shutting down all US operations. IF there is sufficient need for a new competitor is this marketplace, a new company can pick up the pieces. Buck up, folks. Self reliance has been and always will be the road to happiness.
These corporations need to wake up and focus on the people that work for their company and stop worrying about the money. If I were a CEO, I would give most of my money to the people that work for my company.
Wilmington is slowly coming back. The economy is so good there. Businesses are coming and staying. When a house is for sale. It's sold in the matter of days. Wilmington is growing as well.
@@isaacquigley4617Yeah the economy is so good over 21% of the population lives in poverty ur full of 💩and Wilmingtons population has been stagnant not growing
It wasn't just the 10,000 that lost their jobs, no, not even close! Conservative estimates start at around 12,000! I worked there myself in the late 90's. After work on Fridays (Saturday morning), we would grab a bite to eat. At 5:00 a.m. you could get a Whopper at Burger King, and a roast beef sandwich at Arby's! Then we would head to Uncle Louie's for a drink and a few games of pool. First call in Ohio is 6:00 a.m. I know that because I have waited for it to open. After DHL closed do you think the bar was open at 6:00 a.m.? NO Do you think Burger King or Arby's needed as many employees to feed a hungry crowd anxious to eat DINNER at 6:00 a.m.? NO So right there, is a couple barmaids that lost their jobs, several fast food workers that lost their jobs, and what about the guy that installs your brakes or replaces items on your car like alternators or maybe a water pump? Yep he lost his job as well because if your broke you have to work on your car yourself. Airborne should've never sold out to DHL! Owning their own airport made them a very profitable company because of all the savings. They were expanding, getting new equipment, etc. Then DHL ran it into the damn ground!
Elegant but tragic summary of the knock-on effect. The unpleasant truth is that the owners of Airborne were at Liberty to sell their asset to the highest bidder, just like you selling your house. For 18 years I worked for a privately owned UK company that was bought by a US company, and 6 years later our office closed its doors for the last time. I know how these folks feel about missing the people and worrying for the future. At least I got a year's salary as a pay-off, and I had mortgage payment insurance had I not had another job lined up to start when I was ready. It's stressful enough finding a new job in a bouyant local economy, with the cushion of a good pay-off and good state healthcare albeit not so great unemployment benefits (whilst in work we pay for these through National Insurance contributions, currently 12% of an average salary so it's not 'free' like some seem to think). I can't bear to imagine how hard it was and maybe still is for these folks, the position of hard working people seems far more precarious in the US. The only winners are those with money, who end up getting cheap property and land grabs when people go bankrupt, that they can then sit on and profit from during an upturn.
Moral of the story if you have a good thing company dont sell to foreign business.Very common story throughout the usa .35% tarriff on foriegn goods would be a great start.China does it so should we.
I would love to have a grand Utopea happy ending with george clooney rainbows but in the end they laid off 10000 workers fired and now Amazon pulled out 200 jobs last week.At the latest they are considering going back into airfreight again.
My city has no jobs. Zero opportunity. My current job fires people like people drink water. I know there is no chance in this city. I am now looking to head to another city. I need to think there is hope.
DHL should be held responsible for what they did to this community. I hope that there will be money available to educate the people who have lost their jobs so that will be able to get jobs that paid at least as much as they were making before. Also, no one has mentioned the bypass that was just built on the premise that DHL would be remaining in the community for a certain period of time. DHL did not keep their end of the deal and DHL showed a reckless disregard for the people they employed.
Like many small towns, there is a large company that employs a large majority of the people living in the town. When that company fails, the town suffers. But it's not just Wilmington; DHL people all over the country suffer, as well. I know, I am one of those. The main problem with this story, is that it implies that the economy caused the company to fail, it does not address the real reason, which is shitty management, from the top down. Ask any DHL worker, and you'll hear the truth.
$708 Billion for TARP bailout, $180 Billion for AIG bailout, $60 Billion for GM bailout (GM was doing fine in China even as it received bailout). Meanwhile, USA is fighting two foreign wars, expanding military presence in Pacific (base in Australia). Before Financial crisis of 2008 military expenditure was $450 - $500 Billion per year, military expenditure rose to $650 Billion/yr post crisis. Seems like gov't wants every1 to be soldiers if u want to have any income.
This is why at 22 I've worked hard to ensure that I make far more than necessary for me to live on. My bills only account for 23.08% of my income (after tax do my true take home income). I like a relatively nice life as well, a 2016 vehicle and nice clothes and accessories. Because I am able to save so much annually I can afford to splurge occasionally. People never account for things such as job loss.
THIS IS AN IDEA RENT ROOMS IN YOUR HOME WITH FAMILY OR FRIEND'S THAT STRUGGLING ALSO AN PUT MONEY TOGETHER FOR BILL'S, FOOD,MEDICAL INSURANCE, CAR NOTES ECT. GOD BLESS YOU ALL I'M PRAYING FOR THE NATION❤✌
Sorry sir for your loss, your son and all men who fight for the U.S. military are brave men, and I respect and honor them. Unfortunately, our foreign policy is in the interest of the big bankers and oil investors. All wars are bankers wars, that's why non of these elite have their families fighting in the front line. We American are struggling to put food on the table, yet we can send 15 billion a year to Israel and 38 billion to build their Army. It's all by design that Americans are too focused on racial issues because that's how they keep us divided and without unity, they can do whatever they want.
hint0122 I worked in that town for R+L carriers. Airport picked up again. But it will never be as many employees as it used too because DHL left. I also learned most people who worked for the airport started working for R+L carriers. Everything in the town is picking including restaurants. I lived and worked in that town for about 6 months. Friendly people.
Hey, I just wanted to comment on your video....I really like it and I have shared it with some of my firends on some of my social networking sites! NICE!!!!
Sad thing is the rich and top percent does not give a damn about us. We are losing everything we worked hard for and get nothing in return. I really am considering the S&W retirement plan. I have no hope for the future.
as sad as this story is all of these people need to stop pointing fingers and blaming everyone else and take accountability for their own actions. When you choose to put your livelihood and well being in the hands of another person/entity, you are susceptible to a tragedy like this. It wasn't a feasible business for DHL, so they had to leave. What, did these people just expect DHL to stick around and lose 6 mil a day just for the sake of them having a job? These people need to go read a book.
Haha! Think bigger! It is not just the tax savings. It is the opportunity cost of the money itself. Look, if I have a $100,000 mortgage and pay an effective rate of 4% on the money, all I need to do is beat 4% in another investment vehicle to be better off. Doing that is simple...even these days. This, of course, assumes one has enough income to itemize deductions.
I got a job it might not be the job you want but My Job is the one I want I’m disabled I’m a single mom I am not on food stamps I do not get cash assistance for my child if I can do it other people can do it
Could not her son get a job to continue college ?. I did working fulltime with 14 units (full tme student status) for fours and another 18 months for grad school. It just takes a little more drive I guess.
It's so sad about the big company DHL closed I think was 2013. Because the German courier company said fuel costs are too high. The company laid off thousands of people. In parts of the South and North I still see a few DHL delivery vehicles to this day. I wonder there are retraining programs for those laid off workers. I hope that the government or some other incentive programs to help laid off workers from DHL or any other place for that matter train them certain for jobs in industries. It seems as though America has it's industrial base in the world. It's a shame manufacturing of goods and services became extinct over night. The industrial age is no more.
For the love of all that is holy, you are NOT obligated in any sense to pay for your children’s college education. They can get scholarships and work and pay off their loans. You as their parent do not have the time left to replenish your retirement.
Do towns and cities all over the USA allow residents to grow food on their lawns? I don't see why not, since its their land. Communities should be allowed to come together and make decisions about the land the people own.
Inherited?? NO, they BOUGHT it. They chose it! DHL/Airborne are not the only companies in that airpark. There are some smaller companies that are directly affected by this. ACS (also known as Trippak or TMI) moved to Kentucky because all of their work came from DHL. Dealer Track is packing up and moving to Memphis--closer to FedEx's main hub. So, there's more of a ripple effect going on than you realize. Unless you live in this area; you will not know how badly this is affecting us.
How I'm I living still on a 700 dollar income a month with two kids and I have no family support I'm out here all alone only eating onces every two days might as well by a tent and park my self in the woods..😟
ive lived in wilmington all my life and the town is doing better now part of dhl came back and hired a bunch of people back but the company is not nearly as big as it was before
Just wait. The causes of 2008 haven't been fixed - just papered over. We're in the eye of the hurricane right now. Once we hit the other side, consumption and consumer-discretionary dependent businesses like DHL will be hit the hardest (just like they were in '08, only this time it's gonna be much, much worse). Tell your neighbors not to have kids.
that is what happens when you have 1 company as an employee to the whole town. Detroit is the best example of this. This town is another. From near marianna Florida, all private companies has shut down, now just state facalities. and rick scott is wantng to priavatize them and move them
If someone practiced something 8 hours a day, 5 to 6 days a week, for 20, 30 or 40 years, they would become an expert at whatever they are doing. Why is it then, that people work a job, 8 hours a day, 5 to 6 days a week for 20, 30, 40 years, working hard for their money but never learning how to make their money work hard for them, become financially literate and financially independent? So if the company pick slips them, it's no problem. They were only working because they wanted to, not because they had to.
i am (not!) proud to call this my hometown and i am (not) happy to live here. but i am willing to deal with it. and im hoping that not everyone moves out of this town(who knows why?!)
THINGS ARE GETTING WORSE, ITS DECEMBER 19TH, 2011, CNN JUST SAID UNEMPLOYMENT IS AT AN ALL TIME HIGH AND EXPECTED TO CLIMB HIGHER! I'VE BEEN OUT OF WORK FOR 3 YEARS, I'M NEARLY HOMELESS... THERE IS NO WORK, THE DAYS OF MAKING 30K PER YR ARE LONG OVER. MOST OF MY FRIENDS HAVE LEFT THE US ALREADY AND LANDING DECENT JOBS IN CHINA, TAIWAN AND SINGAPORE, APPARENTLY ASIAN NATIONS HAVE LESS THAN -1% UNEMPLOYMENT, MOST US COMPANIES ARE MOVING OVERSEAS TOO. AMERICA IS CRUMBLING, BANKSTERS HAVE RUINED US.
Crisis? We've forgotten how this country started; everyone in the community contributes. Unemployed? Try sharing babysitting duties, coach the kids' baseball team, pick up garbage, volunteer somewhere. You can still sing in the church choir and have food co-ops. Gas too expensive? BIKE! During the Great Depression, there was no TV to keep you occupied. When the Pilgrims got off the Mayflower, they didn't say "I deserve a huge house" or "I don't pick up trash, that's the city's job."
@splotner1 I know your comment is a year old but you are right about "make a mistake and your gone" my current job is like that. I made my first mistake and now my job is in jeopardy. They seem to forget I came in at 3am in the morning to help. I think most employers are taking advantage of this economy. I am looking to head to Chicago. No jobs in my current city. Hope is all I got.
Start a small business in a town that is going under? Educate themselves using what? Most people that age require Federal loans to go to school. Those federal loans are based entirely on your income from the past year. Even after you become educated, jobs may not be available near you. And what about families that don't have enough money to move? These people have exhausted most of their lifelines and are running on fumes. They aren't sitting down, but they are standing still.
This is why people need to save and stay out of debt when times are good and always have backup plans. Yet, with all the bad times, taxpayers are willing to allow the mortgaging of their futures to bailout Wall Street bankers so they can buy new jets and remodel their offices.
No the bankers aren't saints. I was referring to mortgage bankers and loan originators. I have personally witnessed loan originators telling people that they are qualified for much more than they should actually spend. Alot of times, people spend it anyway. We are ALL in debt, as a nation, and as individuals and no one held a gun to our heads to make us get there.
This is BS. Banks, brokers, and loan originators are bound to follow the guidelines. If the guidelines allow people to make bad financial decisions, the LO's aren't allowed to stop them. I can't tell you how many times I've encouraged buyers not to overspend, but they rarely listen! If only someone could follow us all around and stop us from spending too much...
"Educate themselves using what?" Uhhh I don't know, books perhaps? And I'm not talking about a useless college education, I'm talking about educating yourself (by yourself) about a useful skillset. Then either finding a position in the marketplace as an employee or small business owner, even if it's just a single person operation. And I don't buy the not being able to move excuse. There are so many places in this country w/healthier economies than this town that are just as cheap to live in.
These people are buying xra food but if they lose their houses where they going to keep the food I was homeless and thank God I now have a place to stay it's so easy to become homeless the people I was renting from raise the rent so high I couldn't pay it so I had to go on the street living my car in California and then I move to Kansas my niece came and got me and I got a low income apartment for me and my youngest son and my other son's they living on the streets in California so I understand where the people are coming from
Um...hello? There was no other basket. This place is out in the middle of farm country. What other competitors are these people going to work for? They will have to leave Wilmington to find work, which will leave lots of empty homes and a decimated real estate market. The economy grew around this industry because it was the only one available. Now, if only the do-good Christians would allow the casino to open...Maybe the local economy could recover. But that is a new topic. Do you work for DHL?
Regarding DHL taking over Airborne Express and then having to bail leaving thousands of people unemployed, the economy went to shit, so how come none of the employees are considering that? I'm sure if DHL never entered the picture Airborne Express would've gone under anyways, so stop blaming everyone else, just roll with the punches and get on with your life. Go educate yourself and find a new skill, start a small home business, do fuckin something. Don't just sit there and blame everyone.
