Posted in diary, economics | 5 Comments »
The financial crisis — or finančná kríza as we call it here in Slovakia — has started to make itself manifest in my own business.
Besides having a rather lousy September in terms of billings, this comes today from the editor of a magazine I do translation and proofreading for, published by the company that is my biggest source of income:
Many clients have cancelled their advertising. Basically, the magazine lives [off revenues] from Slovak companies, with a few from abroad, as you have surely noticed. And there was a high percentage of banks and insurance companies….
There was also a news story today about J&T Group — a major investment bank in the Czech Republic and Slovakia — cutting sale prices for new luxury apartments in a huge new project it is building on the Danube riverfront by something like 40%.
Rough waters ahead.