Economic Crisis Could Hit Centers, Dispatchers

The U.S. economic crisis continues drag down world credit markets, and it’s likely that the nation’s public safety comm centers and dispatchers will eventually feel the effects. Most obviously, dispatchers who have retirement accounts that were invested in the stock market have seen their value decline substantially. Read more here.

The Dow Jones Industrial Index, a common measure of the stock market’s overall performance, is down 18% just since August 1st. Specific company stocks have taken ever bigger hits: General Electric is down 30% during the same period, Bank of America is down 34%. If you’re nearing retirement, your pool of stock-invested retirement money would take you roughly one-third less through your Golden Years. Next, your jurisdiction may also suffer the crisis, through lack of bond funding or loans for capital improvement projects, including new comm center facilities, new radio systems or telephone upgrades. Even seemingly guaranteed funding sources such as federal grants may disappear now that the government has had to step in to offer financial backing to private companies. Lastly, the nation’s dispatchers may suffer the ultimate personal loss–their home. Although lay-offs are rare among comm centers, loan interest rate changes could put a strain on a dispatcher’s income, especially if it’s interrupted by illness or other catastrophe.