Looks like the GOP was on the Freddie Mac payroll
http://biz.yahoo.com/ap/081207..._game_freddie_mac.html
http://biz.yahoo.com/ap/081207..._game_freddie_mac.html
Chicago in bigtime trouble:
12-8-2008 Tribune Co. weighing bankruptcy filing
CHICAGO ? Tribune Co., owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, has hired financial advisers ahead of a possible filing for bankruptcy-court protection, according to reports on Sunday.
The Wall Street Journal, quoting people familiar with the matter, said a bankruptcy filing could come as early as this week. It said Tribune Co.'s cash flow may not be enough to cover nearly $1 billion in interest payments that are due this year.
Standard & Poor's Ratings Services downgraded Tribune's debt further into junk territory last month, saying the credit crunch could delay the sale of assets ? and limit the amount that the company could get for them ? including the Cubs, Wrigley Field and its 25 percent interest in Comcast SportsNet Chicago.
Chicago Cubs chairman Crane Kennedy said Friday that the Cubs are going over bids for the team and he expects the baseball franchise to be sold by spring training.
12-8-2008 Tribune Co. weighing bankruptcy filing
CHICAGO ? Tribune Co., owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, has hired financial advisers ahead of a possible filing for bankruptcy-court protection, according to reports on Sunday.
The Wall Street Journal, quoting people familiar with the matter, said a bankruptcy filing could come as early as this week. It said Tribune Co.'s cash flow may not be enough to cover nearly $1 billion in interest payments that are due this year.
Standard & Poor's Ratings Services downgraded Tribune's debt further into junk territory last month, saying the credit crunch could delay the sale of assets ? and limit the amount that the company could get for them ? including the Cubs, Wrigley Field and its 25 percent interest in Comcast SportsNet Chicago.
Chicago Cubs chairman Crane Kennedy said Friday that the Cubs are going over bids for the team and he expects the baseball franchise to be sold by spring training.
I still believe part of the cause of all of this was the high energy prices, mainly Oil.
With it down now, I think it will take at least a year with the price staying this low or less for the economy to stabilize....but it looks like OPEC wants to damage the economy even more with them agreeing this past weekend to drastically cut production.
With it down now, I think it will take at least a year with the price staying this low or less for the economy to stabilize....but it looks like OPEC wants to damage the economy even more with them agreeing this past weekend to drastically cut production.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
They can't; it doesn't matter, they are powerless to bring oil up high in this climate. A cut of 2M is going to be easily taken in stride, it may create a rally of a few bucks here or there but if OPEC thinks that oil is going to cruise up and hold at, say, $70/barrel with a recession getting worse and worse they are living in a fantasy land with chocolate streams and candy cane trees. Won't happen, no how no way, they will ride this out like the rest of it and it will hurt them more because their countries otherwise suck with stupid populations that cannot do anything and countries that have no infrastructure.
My uncle was just given the news and pink slip of his plant closing this Friday.
They made Latex gloves for the Medical Industry. The article title is misleading.
The plants are not just closing, they are technically being moved from the U.S. to China, Thialand, etc for the lower wages.
It has nothing to do with the recession, they were planning this for quite some time.
They are just using the recession as an excuse.
The primary downfall of America.
12-8-2008Dow Chemical to slash 5,000 jobs, shut 20 plants
Dow Chemical Co. said Monday it will slash 5,000 full-time jobs ? about 11 percent of its total work force ? close 20 plants and sell several businesses to rein in costs amid the economic recession.
"Most of these deals were agreed to before the economy went in the tank," said Steve Kaplan, a professor at the University of Chicago Booth School of Business. While the original logic behind the deals is still solid, some buyers may regret agreeing to high prices now that the economy is in a recession and cash positions precious, he said.
Yet ironically, the economic slump may provide the perfect cover for companies that need to take drastic steps.
They made Latex gloves for the Medical Industry. The article title is misleading.
The plants are not just closing, they are technically being moved from the U.S. to China, Thialand, etc for the lower wages.
It has nothing to do with the recession, they were planning this for quite some time.
They are just using the recession as an excuse.
The primary downfall of America.
12-8-2008Dow Chemical to slash 5,000 jobs, shut 20 plants
Dow Chemical Co. said Monday it will slash 5,000 full-time jobs ? about 11 percent of its total work force ? close 20 plants and sell several businesses to rein in costs amid the economic recession.
"Most of these deals were agreed to before the economy went in the tank," said Steve Kaplan, a professor at the University of Chicago Booth School of Business. While the original logic behind the deals is still solid, some buyers may regret agreeing to high prices now that the economy is in a recession and cash positions precious, he said.
Yet ironically, the economic slump may provide the perfect cover for companies that need to take drastic steps.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
Perhaps now is a good time for your Uncle to look into getting some skills so that he's not spending his life doing a job that can be done better by a machine or taught to somebody in 30 minutes. I've seen what some of these manufacturing workers do for 8 hours and it's not right to be spending one's life doing that.
He s a college educated CNC specialist you dolt.
In fact they have him as one the last ones left to carfefully dismantle the machinery to ship it to Thailand.
Who was it that said states don't go bankrupt?
12-20-2008 California running out of money
Sacramento, Calif. ? California lawmakers just got a Henry Paulson-like ultimatum from state officials: If they don't act, the state could be forced to suspend road, bridge, and other public-works projects as early as next week. Come March, California will be out of cash for even day-to-day operations.
A confluence of the national recession and years of legislative budget games is squeezing the Golden State as never before.
"Because California does have a perennial budget crisis, it's very easy to fall into the 'boy who cried wolf' syndrome," says Dan Schnur, director of the Jesse M. Unruh Institute of Politics at the University of Southern California.
"This time the sky is really falling."
12-20-2008 California running out of money
Sacramento, Calif. ? California lawmakers just got a Henry Paulson-like ultimatum from state officials: If they don't act, the state could be forced to suspend road, bridge, and other public-works projects as early as next week. Come March, California will be out of cash for even day-to-day operations.
A confluence of the national recession and years of legislative budget games is squeezing the Golden State as never before.
"Because California does have a perennial budget crisis, it's very easy to fall into the 'boy who cried wolf' syndrome," says Dan Schnur, director of the Jesse M. Unruh Institute of Politics at the University of Southern California.
"This time the sky is really falling."
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
Did you read the article that you posted? Where is there any reference of bankruptcy? They're going to suspend road/public works projects due to the budget crisis.
Please stop making stuff-up.
Yesterday 15,000 jobs were cut.
Today is starting off with a couple of thousand:
12-20-2008 Office Depot cutting 112 stores, 2,200 jobs
Office Depot Inc. will close about 9 percent of its North American stores and cut 2,200 jobs over the next three months while planning to open fewer locations next year in an effort to cut costs.
The plan to shutter 112 stores will reduce the chain's base to 1,163. It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and eight in the South.
Office Depot, which began the year with about 49,000 workers, also will close six of its 33 North American distribution facilities.
Meanwhile, the Delray Beach, Fla.-based company said it plans to shut another 14 stores next year while opening just 20 new sites, half of what it planned.
Office Depot shares, which have tumbled more than 82 percent since the beginning of the year, climbed 30 cents, or 12.4 percent, to $2.73 in midday trading.
Today is starting off with a couple of thousand:
12-20-2008 Office Depot cutting 112 stores, 2,200 jobs
Office Depot Inc. will close about 9 percent of its North American stores and cut 2,200 jobs over the next three months while planning to open fewer locations next year in an effort to cut costs.
The plan to shutter 112 stores will reduce the chain's base to 1,163. It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and eight in the South.
Office Depot, which began the year with about 49,000 workers, also will close six of its 33 North American distribution facilities.
Meanwhile, the Delray Beach, Fla.-based company said it plans to shut another 14 stores next year while opening just 20 new sites, half of what it planned.
Office Depot shares, which have tumbled more than 82 percent since the beginning of the year, climbed 30 cents, or 12.4 percent, to $2.73 in midday trading.
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
Yes, I did read the article. Obviously, you didn't. Again, where is the reference to bankruptcy?
If you don't understand what you're reading Dave, you can ask for help and we'll explain it to you. But please stop lying and making stuff up.
2008 trumps 1974
Meanwhile while the AT apologists continue their attack on the OP the numbers they deny continue to pile up:
12-11-2008 Weekly jobless claims jump to 26-year high
The number of U.S. workers filing new claims for jobless benefits surged to a 26-year high last week, Labor Department data showed on Thursday, as a deepening recession forced employers to cut back on hirings.
Initial claims for state unemployment insurance benefits jumped by 58,000, the biggest increase since September 2005, to a seasonally adjusted 573,000 in the week ended December 6 from an upwardly revised 515,000 the previous week. That was the highest print since November 1982, when 612,000 workers submitted new claims for unemployment benefits.
Continuing claims jumped to 4.43 million in the week ended November 29, also a 26-year high, from 4.09 million the previous week. The 338,000 increase in continuing claims matched the gain recorded in the week ended November 30, 1974.
Meanwhile while the AT apologists continue their attack on the OP the numbers they deny continue to pile up:
12-11-2008 Weekly jobless claims jump to 26-year high
The number of U.S. workers filing new claims for jobless benefits surged to a 26-year high last week, Labor Department data showed on Thursday, as a deepening recession forced employers to cut back on hirings.
Initial claims for state unemployment insurance benefits jumped by 58,000, the biggest increase since September 2005, to a seasonally adjusted 573,000 in the week ended December 6 from an upwardly revised 515,000 the previous week. That was the highest print since November 1982, when 612,000 workers submitted new claims for unemployment benefits.
Continuing claims jumped to 4.43 million in the week ended November 29, also a 26-year high, from 4.09 million the previous week. The 338,000 increase in continuing claims matched the gain recorded in the week ended November 30, 1974.
Wow
35K is huge number
Article says "highlights", not sure that is what I would that.
12-11-2008 Bank of America says to cut up to 35,000 jobs
Highlights:
* Says reductions are coming from both companies and affect all lines of
business and staff units
* Says reductions to eliminate redundancies due to merger with Merrill Lynch
and reflect current recessionary environment
* Says continues to actively originate loans through all of its credit product lines
35K is huge number
Article says "highlights", not sure that is what I would that.
12-11-2008 Bank of America says to cut up to 35,000 jobs
Highlights:
* Says reductions are coming from both companies and affect all lines of
business and staff units
* Says reductions to eliminate redundancies due to merger with Merrill Lynch
and reflect current recessionary environment
* Says continues to actively originate loans through all of its credit product lines
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
Bullsh*t you wouldn't. Anybody who's seen you post knows that you delight and revel in the misfortunes of others. Misery loves company and all that, but as I've told you before, it will not fill the void in your life; your unhappiness is too pervasive to be assuaged for anything more than a fleeting moment by the agony of others and as soon as the thought has entered your mind you're back to your own life. It's not too late. You've been life's victim for almost five decades. You have no more than two left, but they can be better.Originally posted by: dmcowen674
Wow
35K is huge number
Article says "highlights", not sure that is what I would that.
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