Most technology companies have seen earnings soar and their stock take a rocket-ride to option heaven. For some, that's good news indeed. Those engineers who have been working long hours to keep understaffed development projects on target are now hopeful that more engineers will be hired here at home to give them some breathing room. New hires should help them lead a more normal life with more time for family, a chance to coach a son's basketball team or a daughter's soccer team or get home in time for dinner. But if you're expecting an engineering hiring boom here at home, dream on.

For some, the apparent rebound and good times have come too late. My neighbor, a middle-aged software developer, got dumped more than two years ago when his employer moved much of its software development off-shore.

Turns out nobody is hiring 50ish software types, so he's been out of the job market for more than two years. And he's no longer counted in the unemployed stats since he's given up looking for a job. Now he's the computer guru in our community, has taken on a few consulting jobs and does pro bono computer work for friends and neighbors, which makes him a very popular fellow.

Fortunately, he's saved a few bucks, his kids are grown and his spouse has a well-paying job. Now, he shops, cooks dinner, gardens, walks three miles a day and is more relaxed than he's ever been. He's convinced life in the new lane has added several years to his life.

Many of the millions of Americans who have been laid off in the cost-cutting frenzy have had their confidence shattered and lives ripped apart. In California and, I suspect, in other parts of the country as well, the few jobs that are being created by the so-called economic boom pay 40 percent less than the jobs that have been lost. Ugh!

But engineers are a resilient and resourceful lot. For some, the challenge of keeping bread on the table has prompted them to act on on their entrepreneurial ambitions and start up their own electronics or consulting businesses. And many unemployed engineers have discovered there really is a life outside the technology biz and have turned their hobbies into businesses, whether that has meant becoming a financial planner or mortgage broker, or running a B&B or fishing lodge.

Others have used their handyman skills to create profitable home repair businesses. And some have gone into teaching at local high schools, community colleges or universities.

Faced with a layoff, one of my pals turned his part-time teaching hobby at the local university into a full-time job. His $55,000-a-year salary isn't nearly what he hauled down as a senior manager in Silicon Valley, but it's the most satisfying job he's ever had. For him, life in the new lane is beautiful indeed.

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