LyondellBasell, this one could hurt!!!

[Forgivenmom5]

I am so sorry Marilyn! Things are a little slow where I work too. The plant has been off more days through the holidays than normal. For several months they have been closed on Fridays sometimes and closed at lunch some days. Another plant in our area closed Wednesday without giving any notice. They employed 180 people and one lady said her supervisor called her about 3 hours after she got off work tuesday and told her they were closed immediately. Traci and her husband moved up next to DC because of the job situation here. Hopefully things will begin to improve. One of my bosses thinks things will start to improve by summer.

I hope this does not hurt you too much!

[gja1000]

It is very scary right now - for everyone. I think we are all affected, one way or another. Like Marilyn said though, it can cause you to rethink priorities and what really matters. I know lots of people are having a really rough time right now, and I hope things turn around economically very quickly.

[Janet]

Originally Posted by Forgivenmom5

I am so sorry Marilyn! Things are a little slow where I work too. The plant has been off more days through the holidays than normal. For several months they have been closed on Fridays sometimes and closed at lunch some days. Another plant in our area closed Wednesday without giving any notice. They employed 180 people and one lady said her supervisor called her about 3 hours after she got off work tuesday and told her they were closed immediately. Traci and her husband moved up next to DC because of the job situation here. Hopefully things will begin to improve. One of my bosses thinks things will start to improve by summer.

I hope this does not hurt you too much!

Debbie, please tell Traci we miss her here okay. I hope the move was a positive one for her and her family.

[DianaB]

I'm so sorry that you have all of this to worry about, Marilyn. I'll keep you and your situation in my prayers.

[Gina]

Marilyn you are in my prayers, I hope this will not effect you. I pray for the country to like Janet mentioned I do to think this will get worse before it gets better..

[Janet]

As long as we have each other to lean on...and Marilyn...lean on us...I honestly feel I could make it through most anything.

[Marilyn]

The news this afternoon was no better, in fact it could be even worse because the forecast now is that the fall of LyondellBasell is probably inevitable. We determined today how to continue to work with them and not expose us any more than necessary should they default. We just hope that their requirements in the next 30 days will not be too great. According to the news today, they have until Sunday to make their payments. If they default, I'm not sure what will happen next.

http://money.cnn.com/news/newsfeeds/...3_FORTUNE5.htm

"In a regulatory filing Wednesday, LyondellBasell said lenders had agreed to postpone $160 million in fee payments to Jan. 4 from Dec. 29. The deadline for the payment had been extended previously from Dec. 19. It also postponed $120 million of interest due on some debt.
LyondellBasell's biggest lenders include Citigroup (C), Merrill Lynch & Co. ( MER) and Goldman Sachs Group Inc. (GS). Spokespeople for all three declined to comment."

These are things you don't want to read about one of your key customers. They are a very good company, very good people and the purchase that got them in trouble seemed to be a good thing at the time. They got caught just like some of us did with our 401K's. They needed a crystal ball even more than we did!!

[DianaB]

That's too bad. We should all be worried about what's going on.