This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Space Workers Struggle A Year After Last Shuttle

Many of the former space workers find camaraderie and job tips each Friday at the weekly breakfast of the Spacecoast Technical Network, a group created by former Kennedy Space Center workers. Just hours before 70 members dined on eggs, biscuits and coffee at a recent meeting, three Chinese astronauts parachuted back to Earth in a capsule halfway around the world. For the space workers, it was yet another sign of the growing competition facing the United States as a leader of space exploration. At the moment, the United States has no way of sending astronauts to space in its own vehicles, and NASA is relying on the Soviet-made Soyuz capsules to send U.S. astronauts to the international space station.

One of the network's founders, Bill Bender, recently joined more than two dozen other colleagues working on a reconnaissance project for a contractor in Afghanistan where they are earning six-figure annual incomes.

Bender had been out of work for about a year from his job on the cancelled Constellation program when he took the one-year contract to work halfway around the world.

"As the months passed, I began to realize the hard reality that things I had known and taken for granted no longer existed. Stable work, good pay, benefits, etc. were no longer a reasonable expectation," Bender wrote in a recent email from Afghanistan. "As time went by and it was getting closer to a year without a job ... the (Afghan) opportunity looked better and better. The money was very good due to compensation for hardship and danger."

Those who have remained on the Space Coast without jobs are cutting back on small luxuries. Harrington has trimmed back on eating out and vacations.

Al Schmidt, who worked 27 years at the space center, has cut back on using his car and utilities at home to save money. The 60-year-old's unemployment benefits are running out soon, and without a new U.S. space program offering ready-to-go jobs, he is contemplating retirement, something he doesn't want to do.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs