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In September 2008, each day’s headlines seemed to trump those from the day before. Last year, Merrill Lynch was sold to Bank of America on Sept. 14, and Lehman Brothers filed for bankruptcy the same day. A couple of days later, the U.S. government bailed out AIG. Then, several days thereafter, Goldman Sachs got a $5 billion investment from Warren Buffett’s Berkshire Hathaway Inc. The credit markets dried up. So, how are we doing in the Portland-metro area? Here is a random sampling.

Hermann Colas came from Haiti 30 years ago looking for a better life. He brought his entrepreneurial zeal to Oregon and built a construction company that worked its way into development. The firm had several major projects under way, but suffered when potential buyers no longer had access to capital. Projects were stopped and unsold inventory was turned over to the banks when he was unable to make the payments. But Colas maintains a positive attitude, and is glad his family is in the business. 鈥淢y son and daughter are getting an education I could never have paid for,鈥� he said.

John Buchard graduated from Oregon State University in 2004 with a degree in civil engineering and land surveying. He has been looking for work since late 2008, and has gotten lots of interviews but no job. He says the number of candidates applying for jobs has fallen a bit. Earlier this year he saw engineering positions draw as many as 60 applications; now the number is about 30, he said. Buchard is optimistic, and said he’s confident that the right opportunity is going to come along.

Allison Tong has completed her first year at the University of Washington. She is looking to major in political science or a similar major that will help her achieve her goal of entering law school. She spent the first half of the summer looking for work before landing an internship with a small engineering company doing marketing research. She said that the major impact of the recession has been the shortage of scholarship money and other assistance. Many of her friends, particularly those attending private schools, are feeling the pinch, she said. Others are remaining in school and polishing their resumes for future employers. Tuition costs have increased as various university systems adjust to funding shortages.

Darren Hippenstiel, an engineer with a major engineering company, is grateful. He has been busy with work that his employer has been pursuing, although he has not always been able to do the kinds of projects that he wants to. He was empathetic with the plight of less fortunate colleagues. Although his wife also is employed, Hippenstiel said they are tightening their belts a bit to build a cushion for the future.

The last major recession, in 1981, hit the Pacific Northwest particularly hard. It required wrenching adjustments as the economy shifted from one based on natural resources to one geared toward technology and information. The result was that Oregon prospered even more than before and created a lifestyle that made it the envy of much of the country 鈥� and workers flocked here in numbers greater than ever. Oregon engineers and construction professionals should be looking forward with anticipation to the next Oregon economy.

Christian Steinbrecher is the president of Ukiah Engineering Inc. and a senior consultant at Capital Project Consultants. Contact him at [email protected].