Have we had some hard times in our community?  Yes.  The fiscal mess that is our state has obviously negatively impacted the education sector and caused downsizing.  Have we had private businesses close?  Yes.  The recession has been extremely deep and many businesses have struggled if not closed.  It is an unfortunate aspect of the business cycle that some businesses close who can't weather the downturn.  Its also unfortunate that certain positions at the University won't ever be filled again - but maybe they were really unnecessary and this downturn will act to streamline its operations much like happens in business.

But devastated?  I think not.

I can point to numerous thriving businesses in our community who are hiring.  Yes, for every BankChampaign that has a record year you can find a Kennedys that has had to close - but there are plenty of businesses that clicking along making money and taking care of their employees, weathering the recession just like they have all the ones before this one and will all the ones that are to come. 

When we make it out of this cycle's trough (and I think we are starting to see some light at the end of this very long tunnel) those surviving businesses will be leaner, their earning power will be greater, and their staffs will be rewarded accordingly.  Something similar will happen at the University and in reality probably already is happening given that President Hogan announced last year that salary increases would be forthcoming after a couple of years of salaries being frozen. 

Restructuring and downsizing are normal reactions to tough economic times, but so are investment and hiring during economic expansion.  The current trough in this economic cycle has been particularly deep but the peak in the next cycle is ahead.  That's just how it works - absent the devatation.

Mark