America's Companies scheme of blowing Employee retirement money spreads to Europe:
1-13-2004 Germany up in arms over companies' plans to cut employee pension schemes
The shock decision by one of Germany's main banks to scrap its company-funded pension scheme for employees has outraged many Germans already worried that their state pensions are not as safe as they believed.
Commerzbank, the country's fourth-biggest bank, announced last week that it planned to scrap its voluntary corporate pension scheme, which supplements the mandatory state pension, for its 26,000 employees.
The employee pension scheme, which dates back to the 19th century, forms one of the main pillars of corporate culture in Germany and was used by companies as a valuable way of luring employees.
What has riled rank-and-file employees and the German public at large was that six lucky people are exempt from the plans -- the management board members, including chairman Klaus-Peter Mueller.
1-13-2004 Germany up in arms over companies' plans to cut employee pension schemes
The shock decision by one of Germany's main banks to scrap its company-funded pension scheme for employees has outraged many Germans already worried that their state pensions are not as safe as they believed.
Commerzbank, the country's fourth-biggest bank, announced last week that it planned to scrap its voluntary corporate pension scheme, which supplements the mandatory state pension, for its 26,000 employees.
The employee pension scheme, which dates back to the 19th century, forms one of the main pillars of corporate culture in Germany and was used by companies as a valuable way of luring employees.
What has riled rank-and-file employees and the German public at large was that six lucky people are exempt from the plans -- the management board members, including chairman Klaus-Peter Mueller.
zephyrprime
Diamond Member
- Feb 18, 2001
- 7,512
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Don't you remember how Enron prevented their employees from selling their stock from their 401K's?
1-14-2004 Fed Reports Economy Gathering Strength - 2.8 Million Laid Off to be Re-hired
Even the nation's beleaguered manufacturing sector showed further signs of life, and the central bank said reports from its 12 regional banks suggested the economic rebound that began in the second half of last year was gathering momentum in late December and early January. Housing and auto sales remaining strong amid scattered signs that manufacturers were beginning to rehire some of the 2.8 million workers laid off over the last three years.
The strength in sales was led by gains in high-end products, according to reports from the New York, Philadelphia, Atlanta and San Francisco districts, while sales at discount stores were coming in below expectations.
Nearly all Fed districts reported increases in manufacturing activity in December and several noted that factory employment edged up a bit as well. This upturn has yet to register on the national unemployment figures
However, economists are hoping that various signs of a rebound in manufacturing will soon translate into significant gains in factory jobs, an expectation that the Fed survey found as well.
"Manufacturers across the country generally expect" better factory conditions in the months ahead, the survey reported, noting that manufacturers had plans to boost capital spending, especially to replace outdated computer equipment.
Even the nation's beleaguered manufacturing sector showed further signs of life, and the central bank said reports from its 12 regional banks suggested the economic rebound that began in the second half of last year was gathering momentum in late December and early January. Housing and auto sales remaining strong amid scattered signs that manufacturers were beginning to rehire some of the 2.8 million workers laid off over the last three years.
The strength in sales was led by gains in high-end products, according to reports from the New York, Philadelphia, Atlanta and San Francisco districts, while sales at discount stores were coming in below expectations.
Nearly all Fed districts reported increases in manufacturing activity in December and several noted that factory employment edged up a bit as well. This upturn has yet to register on the national unemployment figures
However, economists are hoping that various signs of a rebound in manufacturing will soon translate into significant gains in factory jobs, an expectation that the Fed survey found as well.
"Manufacturers across the country generally expect" better factory conditions in the months ahead, the survey reported, noting that manufacturers had plans to boost capital spending, especially to replace outdated computer equipment.
Yes, because Bush himself fired those people and gave their jobs away to overseas nations.
1-14-2004 Factory Jobs Seen Rising 250,000 in 2004
WASHINGTON (Reuters) - A rebounding U.S. factory sector should generate about 250,000 jobs in 2004, barely denting the huge losses it has suffered since its peak, the National Association of Manufacturers said on Thursday in its annual economic forecast.
"Manufacturing has lost 2.8 million jobs, and it is doubtful if more than half of those jobs will return any time soon," NAM President Jerry Jasinowski said in a statement.
Before the dollar's recent slide, NAM was a vocal critic of the U.S. Treasury Department's so-called strong dollar policy which the group said hurt the ability of U.S. exporters to compete with goods from countries with weaker currencies.
Manufacturers have enjoyed a reprieve on the currency front recently with the dollar last year tumbling some 17 percent against the euro, hit by low U.S. interest rates and the wide current account deficit.
WASHINGTON (Reuters) - A rebounding U.S. factory sector should generate about 250,000 jobs in 2004, barely denting the huge losses it has suffered since its peak, the National Association of Manufacturers said on Thursday in its annual economic forecast.
"Manufacturing has lost 2.8 million jobs, and it is doubtful if more than half of those jobs will return any time soon," NAM President Jerry Jasinowski said in a statement.
Before the dollar's recent slide, NAM was a vocal critic of the U.S. Treasury Department's so-called strong dollar policy which the group said hurt the ability of U.S. exporters to compete with goods from countries with weaker currencies.
Manufacturers have enjoyed a reprieve on the currency front recently with the dollar last year tumbling some 17 percent against the euro, hit by low U.S. interest rates and the wide current account deficit.
1-15-2004 700 U.S. Meat Packers sent packing, given pink slips despite Beef Sales highest in 14 years
The nation's beef sales last week were among the highest in 14 years. But even as hamburgers and steaks remain popular on American dinner tables, U.S. meatpacker Excel Corp. delivered pink slips to 700 workers in five plants this week.
The seemingly contradictory events provide a snapshot of where the U.S. beef industry stands three weeks after the discovery of a Holstein infected with mad cow disease in Washington state. Continued high consumer confidence in the USA can't cushion the economic blow caused by bans that more than 40 countries have imposed on U.S. beef. While exports make up just 10% of U.S. beef sales, that translates into well over $3.6 billion a year for the world's biggest beef producer. Already, beef prices have plummeted by 19% since last month.
In a campaign to lift the bans, the U.S. government says it has taken adequate steps to ensure that the one mad cow case remains an isolated incident. However its arguments are undercut by its own history of banning other countries' beef at the first appearance of the disease, then retaining the bans even in the face of far tougher steps than the U.S. has taken so far. Japan's beef, for example, is still banned in spite of the world's most rigorous testing.
Such actions open the U.S. to charges of hypocrisy and invite a similarly arbitrary response from trading partners now that the U.S. is suffering its own mad cow problem.
The nation's beef sales last week were among the highest in 14 years. But even as hamburgers and steaks remain popular on American dinner tables, U.S. meatpacker Excel Corp. delivered pink slips to 700 workers in five plants this week.
The seemingly contradictory events provide a snapshot of where the U.S. beef industry stands three weeks after the discovery of a Holstein infected with mad cow disease in Washington state. Continued high consumer confidence in the USA can't cushion the economic blow caused by bans that more than 40 countries have imposed on U.S. beef. While exports make up just 10% of U.S. beef sales, that translates into well over $3.6 billion a year for the world's biggest beef producer. Already, beef prices have plummeted by 19% since last month.
In a campaign to lift the bans, the U.S. government says it has taken adequate steps to ensure that the one mad cow case remains an isolated incident. However its arguments are undercut by its own history of banning other countries' beef at the first appearance of the disease, then retaining the bans even in the face of far tougher steps than the U.S. has taken so far. Japan's beef, for example, is still banned in spite of the world's most rigorous testing.
Such actions open the U.S. to charges of hypocrisy and invite a similarly arbitrary response from trading partners now that the U.S. is suffering its own mad cow problem.
Pension Insurance Plan Has Record Deficit
By LEIGH STROPE, AP Labor Writer
WASHINGTON - Deficits at the government's pension insurance program surged to a record $11.2 billion in 2003 ? three times larger than any previous shortfall, with the outgoing director warning Thursday that taxpayers could be called on for a bailout.
...
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And there's people here who think we need a national healthcare system. Yea, let's give the government more of our money to piss away.
By LEIGH STROPE, AP Labor Writer
WASHINGTON - Deficits at the government's pension insurance program surged to a record $11.2 billion in 2003 ? three times larger than any previous shortfall, with the outgoing director warning Thursday that taxpayers could be called on for a bailout.
...
---
And there's people here who think we need a national healthcare system. Yea, let's give the government more of our money to piss away.
Hello, Forest through the Trees...
The Govt's Pension is a private rich boy's club at our expense to begin with. Let it go bankrupt and make them suffer like the rest of us pions.
IBM says overseas shift was a mistake, will now hire more in U.S. than send overseas:
1-17-2004 IBM Raises Number of New Hires for 2004
An article in The Wall Street Journal in December said IBM planned to move 4,730 highly skilled software jobs from the United States to India. MacDonald said that figure was incorrect but he declined to say how many jobs were being sent overseas.
IBM, which has faced criticism for its plans to shift some U.S. workers to cheaper locations such as India and China, will add about 4,500 net jobs in the United States this year..."We are going to hire more in the U.S. than we shift" overseas, MacDonald said in an interview.
About 30 percent of the 15,000 new positions, or 4,500 jobs, will be net new hires in the United States, he said.
Moving jobs overseas has become a hot political issue as U.S. corporations build foreign workforces to try to cut costs. IBM services competitor Accenture Ltd. (NYSE:ACN - news), for instance, plans to double its staff in India to 10,000 this year.
MacDonald said IBM also would raise to 50 percent from 40 percent the number of its new staff directly from college. The rest will have previous professional experience.
1-17-2004 IBM Raises Number of New Hires for 2004
An article in The Wall Street Journal in December said IBM planned to move 4,730 highly skilled software jobs from the United States to India. MacDonald said that figure was incorrect but he declined to say how many jobs were being sent overseas.
IBM, which has faced criticism for its plans to shift some U.S. workers to cheaper locations such as India and China, will add about 4,500 net jobs in the United States this year..."We are going to hire more in the U.S. than we shift" overseas, MacDonald said in an interview.
About 30 percent of the 15,000 new positions, or 4,500 jobs, will be net new hires in the United States, he said.
Moving jobs overseas has become a hot political issue as U.S. corporations build foreign workforces to try to cut costs. IBM services competitor Accenture Ltd. (NYSE:ACN - news), for instance, plans to double its staff in India to 10,000 this year.
MacDonald said IBM also would raise to 50 percent from 40 percent the number of its new staff directly from college. The rest will have previous professional experience.
Dave, I came into the thread expecting to read reasons why IBM *said* offshoring was a mistake. Your title is blatantly misleading. I know people where I work at IBM that are going to be losing jobs because the maintenance work for their project has shifted to India. I know a guy that is moving back to India to keep his position at IBM. IBM never said it was a mistake to offshore jobs - atleast not in the article you linked. I wish they would say something like that and bring all the jobs back. But they didn't say it and that makes your title - misinformation.
So sorry for your friends but your fellow AT experts are happy your friends job's have gone to India, your AT friends say that it is only low paying, low skilled jobs going to India so your IBM friends should be happy they only have the skills to sweep the floors at Walmart and they will also get the highest wage they've ever had by at least a penny too.
1-21-2004 Andrew Caard - Chief of Staff says "We inherited a Recession in 2001 and ended it in 11 months".
- Oct 30, 2000
- 42,591
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Now he is starting to try and appease (Brainwash) areas hardest hit:
1-21-2004 Bush: Parts of U.S. Face 'Troubled Times'
Bush flew to Toledo, Ohio to begin a two day swing that also will take him to Arizona and New Mexico to highlight his job training and counterterrorism proposals.
Ohio has been hard hit by manufacturing job losses and its unemployment rate has jumped from 3.9 percent to 5.7 percent since Bush took office.
"Some people could conceivably be ? are being left behind" because they lack the skills to cope with changing technology, he said.
--------------------------------------------------------------------------------------
Someone explain what "skills" are needed now? I know folks with PHD's, Scientist's, Engineers etc that have lost their jobs to India. Is the skill needed is to learn Hindu and move there to compete?
LOL, I can see it now. At this rate, Bush will be restricted to giving speech on how he'll give more Tax Cuts to the rich contributors, or face the millions of unemployed workers repeating the " The Economy's growing, you just need to get re-trained, the job's there." speech. People just need to wake up, smell the roses, and vote this president out of office.
"Jobs shift from higher-paying to lower-paying industries
In 48 of the 50 states, jobs in higher-paying industries have given way to jobs in lower-paying industries since the recession ended in November 2001 (see map). Nationwide, industries that are gaining jobs relative to industries that are losing jobs pay 21% less annually."
That can't be Ferocious, your fellow AT experts CAD & Co insist and swear up and down that wages are going up, the highest ever by a penny and going up everyday.
1-22-2004 Kodak Lays Off 15,000
NEW YORK - Eastman Kodak Co. said Thursday it will slash its work force by 20 percent and take up to $1.7 billion in charges over the next three years as the company accelerates a painful shift away from the waning film photography market.
NEW YORK - Eastman Kodak Co. said Thursday it will slash its work force by 20 percent and take up to $1.7 billion in charges over the next three years as the company accelerates a painful shift away from the waning film photography market.
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