Well I just found out my old place of employment is heading down the tubes, and rather quickly from the sounds of it. I was laid off in March of 2007, and now I'm glad I was. It gave me a head start on finding a job ahead of all the rest of them.
Yes, I took over a four dollar an hour pay cut at the new place. Yes, I lost 3 weeks of vacation. BUT, and this is a big one, I found a new job less then two months later. I am back up to two weeks vacation, and I have health insurance again. The ones getting laid off now are entering a job market that is way worse off then when I was looking. I feel absolutely terrible for those just now getting the ax, and I wish them all well in their search.