Economy:1-1-09 Microsoft planning big layoffs for January?

[dmcowen674]

Make that 20,000 jobs gone today and it's not even Friday


12-4-2008 Employers announce a combined 20,000 jobs cuts

"What we have seen is not just that the cuts are deep; it's that they are happening everywhere," said Andrew Gledhill, an economist with Moody's Economy.com. "It just tells you that there are very few people in any industry who can say, 'I feel safe.'"

The jobless rate is widely expected to rise further through much of 2009. By this time next year, the unemployment rate could hit 8 percent, said Gledhill with Economy.com.

In the 1980-1982 recession ? considered the worst since the Great Depression in terms of unemployment ? the jobless rate rose as high as 10.8 percent in late 1982, just as the recession ended, before inching down.

Gledhill said companies will be forced to keep trimming workers as long as global demand remains weak and new lines of credit remain tight ? conditions that likely will persist through at least the first half of 2009.

"Unfortunately, one of the easiest things to trim is people, and that's just what they're doing," he said.

 

[WhipperSnapper]

Originally posted by: dmcowen674
With numbers like this it's nearly impossible to keep up.

12-3-2008 250,000 jobs slashed in November

Private employers cut 250,000 jobs in November, the most in seven years, a report by a private employment service said on Wednesday.

So if we need 150,000 new jobs each month to keep up with population growth then the nation essentially lost 400,000 jobs in November.

 

[Engineer]

Originally posted by: WhipperSnapper

Originally posted by: dmcowen674
With numbers like this it's nearly impossible to keep up.

12-3-2008 250,000 jobs slashed in November

Private employers cut 250,000 jobs in November, the most in seven years, a report by a private employment service said on Wednesday.

So if we need 150,000 new jobs each month to keep up with population growth then the nation essentially lost 400,000 jobs in November.

250,000?

533,000 jobs cut in November. Most in 34 years.

533,000 jobs cut in Nov.

 

[jackace]

This article shows that the job losses are only part of the story.

http://finance.yahoo.com/caree...106262/Workers-Give-Up

 

[WhipperSnapper]

So, that's 533,000 + 150,000 = a loss of about 683,000 when population explosion is factored in.

From the Yahoo article:

The share of all men ages 16 and over who are working is now at its lowest level since the government began keeping statistics in the 1940s.

I guess that that sort of thing can happen to your nation's job market when jobs are outsourced to foreign countries, when Americans are displaced by imported foreigners on work visas, and when millions of immigrants, both legal and illegal, are brought into the country to further displace Americans and drive down wages.

Perhaps soon-to-be starving Americans could hunt politicians, economists, media pundits, academics, and business executives that advocated Global Labor Arbitrage for sport and sustenance?

 

[dmcowen674]

12-6-2008 <a target=_blank class=ftalternatingbarlinklarge href="http://news.yahoo.com/s/ap/20081206/ap_on_re_us/wall_street_era_ends">The fall of New York City
</a>

Visiting Wall Street during a recent vacation, Dutch tourist Maryke Heyman said she wanted to see the NYSE because of all the turmoil in the market.

"I don't know where it ends. Maybe it's not anymore the big place in the world," she said. Not long ago, she added, "It was happening here. This was No. 1."

First, Bear Stearns nearly collapsed and was bought by JPMorgan Chase in a deal backed by $29 billion in federal money. Then Lehman Brothers filed the biggest bankruptcy in U.S. history and the British bank Barclays PLC swept in to buy up key units of the firm. Goldman Sachs and Morgan Stanley opted to become commercial banks. And even Merrill Lynch & Co. Inc. ? long associated with Wall Street's iconic bull ? announced its sale to an out-of-town commercial bank, North Carolina-based Bank of America Corp. Citigroup has been crumbling day by day in the last week.

At the same time, places like London, Tokyo and Hong Kong have become global financial centers on a scale that some believe already rival New York.

 

[Rainsford]

Originally posted by: dmcowen674
12-6-2008 <a target=_blank class=ftalternatingbarlinklarge href="http://news.yahoo.com/s/ap/20081206/ap_on_re_us/wall_street_era_ends">The fall of New York City
</a>

Visiting Wall Street during a recent vacation, Dutch tourist Maryke Heyman said she wanted to see the NYSE because of all the turmoil in the market.

"I don't know where it ends. Maybe it's not anymore the big place in the world," she said. Not long ago, she added, "It was happening here. This was No. 1."

First, Bear Stearns nearly collapsed and was bought by JPMorgan Chase in a deal backed by $29 billion in federal money. Then Lehman Brothers filed the biggest bankruptcy in U.S. history and the British bank Barclays PLC swept in to buy up key units of the firm. Goldman Sachs and Morgan Stanley opted to become commercial banks. And even Merrill Lynch & Co. Inc. ? long associated with Wall Street's iconic bull ? announced its sale to an out-of-town commercial bank, North Carolina-based Bank of America Corp. Citigroup has been crumbling day by day in the last week.

At the same time, places like London, Tokyo and Hong Kong have become global financial centers on a scale that some believe already rival New York.

That would be a more compelling argument if those other global financial centers weren't having similar problems at the moment...or hadn't in the past.

 

[Stunt]

Originally posted by: WhipperSnapper
So, that's 533,000 + 150,000 = a loss of about 683,000 when population explosion is factored in.

1) Illegal immigration is likely slowing with the economy as there is less work namely in the housing sector; I wouldn't be surprised if some people actually went back across the border to experience the wealth they have been transferring to their relatives.
2) Newborns don't need jobs
3) How do you know immigrants aren't coming here to jobs? Immigrants don't just come here to freeload off the system; I believe this is actually a criteria for coming into the country.

 

[dmcowen674]

Originally posted by: Stunt
I wouldn't be surprised if some people actually went back across the border to experience the wealth they have been transferring to their relatives.

There is a steady stream going back to Mexico and has been for most of this year now.

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: Stunt
I wouldn't be surprised if some people actually went back across the border to experience the wealth they have been transferring to their relatives.

There is a steady stream going back to Mexico and has been since Reagan tried amnesty 20 some odd years ago now.

Fixed for accuracy.

 

[SigArms08]

Originally posted by: Stunt

Originally posted by: WhipperSnapper
So, that's 533,000 + 150,000 = a loss of about 683,000 when population explosion is factored in.

1) Illegal immigration is likely slowing with the economy as there is less work namely in the housing sector; I wouldn't be surprised if some people actually went back across the border to experience the wealth they have been transferring to their relatives.
2) Newborns don't need jobs
3) How do you know immigrants aren't coming here to jobs? Immigrants don't just come here to freeload off the system; I believe this is actually a criteria for coming into the country.

True, newborns don't need jobs , but the people entering the workforce for the first time (high school graduates, college graduates, people getting out of the military) do.

#3 above, WhipperSnapper was refering to the visa program, where US citizens could've filled those positions, but instead the companies look to take advantage of cheaper labor (they do at my company, hiring people on visa's at lower wages).

 

[dmcowen674]

Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

 

[blackangst1]

Originally posted by: dmcowen674
Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

How many threads are you going to link the same article? Attention whore much?

 

[dmcowen674]

Originally posted by: blackangst1
How many threads are you going to link the same article? Attention whore much?

Follow much?

 

[Ozoned]

Originally posted by: dmcowen674
Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

Perhaps Dave, all of this is big moneys response to the man the electorate is putting into office? Fits right in with your way of thinking.

 

[Vic]

Originally posted by: Ozoned

Originally posted by: dmcowen674
Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

Perhaps Dave, all of this is big moneys response to the man the electorate is putting into office? Fits right in with your way of thinking.

:roll: to both you morons

 

[Ozoned]

Originally posted by: Vic

Originally posted by: Ozoned

Originally posted by: dmcowen674
Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

Perhaps Dave, all of this is big moneys response to the man the electorate is putting into office? Fits right in with your way of thinking.

:roll: to both you morons

elitist piece of shit much?

 

[Vic]

Originally posted by: Ozoned

Originally posted by: Vic

Originally posted by: Ozoned

Originally posted by: dmcowen674
Obama warns of impending doom this morning:

12-7-2008 Obama: Economy 'a big problem, and it's going to get worse'

President-elect Barack Obama braced the country for more tough times Sunday, saying twice in an interview that the nation?s already dismal economy would continue to worsen in the months ahead.

Obama, speaking to Tom Brokaw on NBC?s ?Meet the Press,? used some of his starkest language yet to underscore the severity of the challenge he?ll face upon taking office next month.

?If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse,? he said in the interview taped Saturday.

Perhaps Dave, all of this is big moneys response to the man the electorate is putting into office? Fits right in with your way of thinking.

:roll: to both you morons

elitist piece of shit much?

There is no shame in being elitist to the puppet-brained hacks on either side of the political aisle.

 

[blackangst1]

Whats wrong with being an elitist anyway? Serious question...

 

[dmcowen674]

Originally posted by: blackangst1
Whats wrong with being an elitist anyway? Serious question...

UN-American and Anti-American

Take that shit elsewhere more to you and your buds liking.

 

[blackangst1]

Originally posted by: dmcowen674

Originally posted by: blackangst1
Whats wrong with being an elitist anyway? Serious question...

UN-American and Anti-American

Take that shit elsewhere more to you and your buds liking.

Im not sure what America YOU live in, but the one I know of is all about achieving everything you can. With that comes privileges. You call it elitism, I call it perks. Capitalism FTW.

 

[Eeezee]

OP, thank you for writing that informating and nicely laid out timeline. It was interesting to look back on the year and see how things plaid out.

 

[dmcowen674]

Originally posted by: Eeezee
OP, thank you for writing that informating and nicely laid out timeline. It was interesting to look back on the year and see how things plaid out.

You're welcome

Just my public service dispelling the ethugs spewage on here.

 

[dmcowen674]

12-7-2008 From hybrids to SUVs, unsold foreign cars pile up at U.S. ports

From pricey luxury sedans to popular hybrid cars, automobiles made overseas are stacking up at ports and parking lots around the United States as supplies far outstrip demand amid the nation's worst auto market in more than 25 years.

At the Long Beach port near Los Angeles, Toyota Motor Corp vehicles including Prius hybrids, FJ Cruiser sport utility vehicles and Lexus IS 250 luxury sedans are being stored on a vast construction site that will one day be a new container terminal.

The site became a gigantic parking lot when Toyota and Daimler AG's Mercedes-Benz asked the port for space to store thousands of vehicles that dealerships have not been able to take on due to sluggish sales.

The port has not counted how many additional cars were being stored, but Wong said Toyota has leased an additional 23 acres of space while Mercedes-Benz has leased about 20 more acres.

Nissan Motor Co Ltd, which brings its cars in through the neighboring Los Angeles port, had been talking to Long Beach about leasing space, Wong said, though that arrangement fell through.

A Port of Los Angeles spokeswoman, Theresa Adams-Lopez, said Wallenius Wilhelmsen Logistics (WWL), which operates the terminal that brings in Nissan's vehicles, had shifted vehicle storage to another state.

COLLAPSING DEMAND

Global automakers have been sideswiped by the collapsing demand for new cars and trucks. A market slowdown that began in the United States has spread to Europe and Asia.

Detroit's embattled automakers have been pushed to the brink of failure by the downturn and are asking the U.S. Congress for a $34 billion rescue package.

But the sharp decline in sales in October and November blindsided even the industry's better-performing manufacturers like Toyota and Honda.

 

[dmcowen674]

12-7-2008 Bottom drops out of recycling industry

CHARLESTON, W.Va. ? Norm Steenstra's budgeting worries mount with each new load of cardboard, aluminum cans and plastics jugs dumped at West Virginia's largest county recycling center.

Faced with a dramatic slump in the recycling market, the director of the Kanawha County Solid Waste Authority has cut 20 of his 24 employees' work week to four days from five, shuttered six of the authority's drop-off stations and is urging residents to hoard their recyclables after informing municipalities with curbside recycling programs that the center will accept only paper until further notice.

"The market is just not there anymore," Steenstra said.

Just months after riding an incredible high, the recycling market has tanked almost in lockstep with the global economic meltdown. As consumer demand for autos, appliances and new homes dropped, so did the steel and pulp mills' demand for scrap, paper and other recyclables.

Cardboard that sold for about $135 a ton in September is now going for $35 a ton. Plastic bottles have fallen from 25 cents to 2 cents a pound. Aluminum cans dropped nearly half to about 40 cents a pound, and scrap metal tumbled from $525 a gross ton to about $100.

It's getting more difficult to find buyers in some markets, Streenstra said.

While few across the country appear to be taking such drastic measures as Streenstra, the recycling market has gotten so bad that haulers in Oregon and Nevada who were once paid for recyclables are now getting nothing or in some cases are having to pay to unload their wares.

In Washington state, what was once a multimillion-dollar revenue source for the city of Seattle may become a liability next year as the city may have to start paying companies to take their materials.

Some in the business are describing the downturn as the worst and fastest ever.

"It's never gone from so good to so bad so fast," said Marty Davis, president of Midland Davis Corp. in Pekin, Ill., who has been in the recycling business since 1975.

The turnaround caught everyone off guard, said Steven Kowalsky, president of Empire Recycling in Utica, N.Y.

"Nobody saw it coming. Absolutely nobody," Kowalsky said. "Even the biggest players didn't see it coming."
---------------------------------------------------------

Well here's a bunch of yehoo that need to read my threads.

I'm glad the bottom dropped out on them.

They caused a environment that brought about insaneness.

They are just as guilty of the greed that brought everything down as any other corporate thugs.