dmcowen674
No Lifer
What signs exactly??? The traffic signs over the Expressway? Please elaborate...
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Is the economy getting better?
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What signs exactly??? The traffic signs over the Expressway? Please elaborate...
dmcowen674
No Lifer
A joke
Corporate profits have been shown to be completely made up numbers (bunch of crap on paper to lure Investors)
The only expanding Manufacturing Index has been shown to be Military related to replenish stockpiles used up for War efforts
Inventories are down because there is less people making product because there has been a ton of Factory closings and layoffs
What Products (other than Military) exactly are backordered?
Lets's see, this more positive Corporate Outlook you speak of, because some of the rich boys have decided they better put some money back into the Stock Market to avoid an all out Depression?
Falling planned Layoffs? OK, now you're talking but for only 1 out of 6. The top Execs may have finally figured out there can't be much more off the cow before you have a skeleton?
In any case, you're a rich bastard or a poor victim if you actually pay $100 for sneakers. I've never paid more than $50 and rarely more than $40 for sneakers. And what do you have against poor Chinese people anyway? The low cost is caused by the high supply of desperate workers. If Americans were desperate enough, we'd get the jobs, too. But then we'd be as poor as Chinese people. Now who's rich and spoiled?
Well, you can't have it both ways. Either make money and pay (at least some) taxes or be poor and give the government the finger. You'll be better off than those who didn't have the foresight to save and invest, anyway, so who cares if they get a piddling amount of money for doing nothing?
You should have invested when you did have money, I guess. Or not invested all your money in the same companies which employ you so that if you lose your job you've also lost all your savings with it. Oh well, I guess there are some people who just don't care about how much they can lose, only about how much they can gain in a perfect (for them) world. Hmm, quite a ramble there.
xxxxxJohnGaltxxxxx
Banned
Nice 🙂
rudder
Lifer
All I know is in the community where I live the economic recovery does not look good. Its a community that is largely a farming community with a large number of manufacturing plants providing the majority of jobs (besides super walmart). But in the past 2-3 years a large number of these plants have shut down and moved to Mexico. The county now has a 14% unemployment rate.
The only saving grace is that the largest manufacturing company had consolidated 3 factories into one and our community was the one that stayed open. Its just a matter of time before it shrinks again with some of those jobs going to China and Mexico.
The walmart in town has no problem with getting employees. There are more than enough people desperate enough to work for $6 an hour with no benefits.
There is no recovery on the horizon for this town.
The only saving grace is that the largest manufacturing company had consolidated 3 factories into one and our community was the one that stayed open. Its just a matter of time before it shrinks again with some of those jobs going to China and Mexico.
The walmart in town has no problem with getting employees. There are more than enough people desperate enough to work for $6 an hour with no benefits.
There is no recovery on the horizon for this town.
No the economy is not picking up. These are some of the reasons.
All the jobs are being shipped overseas.
people are just now starting to by things and spend money BUT 99% of the things we buy or own are not made in the US.
Bush gave a "tax cut" but the poorer people (35 - 40k households - ME ) really dont get anything. And the richer people that do get a big break they just sit on the assets contrary to what the president thinks they will do - stimulate the economy? The poor people are about to get REAL poor.
All the jobs are being shipped overseas.
people are just now starting to by things and spend money BUT 99% of the things we buy or own are not made in the US.
Bush gave a "tax cut" but the poorer people (35 - 40k households - ME ) really dont get anything. And the richer people that do get a big break they just sit on the assets contrary to what the president thinks they will do - stimulate the economy? The poor people are about to get REAL poor.
xxxxxJohnGaltxxxxx
Banned
... perhaps you should question why the government has not given businesses incentives to stay in your town, whether through tax-cuts, subsidies to compete, or land deals. But then again, most would view this as 'corporate welfare', then whine about jobs going South...you can't have your cake and eat it too; A is A.
Many large corporations do get the tax abatements, and workforce training incentives as well as a number of other off the table incentives to stay in their State and local areas. They just cant compete with the India and China.
from Todays Dallas Morning News.
Electronic Data Systems Corp. will cut an amount of jobs "significantly higher" than the 2 percent layoff it announced in June, chief executive Michael H. Jordan said Tuesday.
Mr. Jordan's remarks at an investor conference in New York were a departure from Plano-based EDS' statement last week that layoffs probably would not vary greatly from the 2 percent figure. The computer services firm has about 137,000 workers, with about 9,000 in the Dallas area.
Mr. Jordan said EDS wants to lower its costs by 15 percent to 20 percent to become a less expensive alternative to rival International Business Machines Corp.
To cut costs, EDS plans to increase the number of workers it employs in low-cost countries, such as India and the Philippines, to 20,000 from 9,000 by the end of 2004. That could help cut service costs by 25 percent, Mr. Jordan said.
At the same time, EDS is working to identify positions it can cut. Executives have been patrolling the business for signs of redundant spending and jobs.
"We're still working our way through it," EDS spokesman Kevin Lightfoot said. "We've always maintained that we were going to be looking for redundant processes."
When asked last week about a Securities and Exchange Commission filing that alluded to the possibility of more layoffs, Mr. Lightfoot said, "When we're going to be making decisions that affect employees, we tell them first."
EDS did not promise last week that its layoff count would stay near 2 percent. But Mr. Lightfoot reiterated EDS' statement from June that the number of layoffs would be "approximately 2 percent," saying last week that it shouldn't be surprising if the total number of layoffs exceeded that figure.
The company has set no deadline to complete its review, Mr. Lightfoot said Tuesday.
EDS has taken other steps to get more competitive, Mr. Jordan said. In July, the company identified a list of its top 50 contract pursuits and dedicated a team of executives to win them, he said.
That executive team will help improve EDS' contract win rate by the end of 2004, Mr. Jordan said.
EDS is still having problems with at least one of its existing contracts, a $7 billion deal to create an internal computer network for the U.S. Navy. The amount of fully operational workstations ready to be placed on the network is behind schedule, Mr. Jordan said, but the company expects to have positive cash flow on the contract by the second half of 2004.
The Navy problems contributed to EDS' woes last year, becoming a major factor in the company's third-quarter earnings warning, which wreaked havoc on its stock price and led to the dismissal of former chief executive Dick Brown in March. EDS had 7,700 job cuts last year as it coped with the damage.
EDS shares closed Tuesday up 36 cents to $22.1
charliebrown
Senior member
..interesting you should mention EDS.
Wasn't that started by Ross Perot? He said (about NAFTA) "you'll hear a giant sucking sound of all the jobs leaving the country"
Wasn't that started by Ross Perot? He said (about NAFTA) "you'll hear a giant sucking sound of all the jobs leaving the country"
LeadMagnet
Platinum Member
I would have to say yes, I am in the tech industry and my company had massive layoffs (33%) in 2001 and 2002, now we are hiring again and getting raises.
Zebo
Elite Member
He's sold most or all of his stake in EDS. I assume you're saying he is having a double standard. Well again we can't blame these companies perse... It's poor government policy created by huge multinationals to limit compitition from up-starts and return maximum profits and growth to stock holders.. who are from every part of the globe. There goal is maximum market share visavi lowest price and the only way the can do this is with cheap-forgien labor coupled with farvorable tax shemes. Governmnet must do the opposite of what they are doing now. But Ross is a good man. Sent his own mercenaries to rescue his employees who were held hostage in Iran and has spent millions on MIA's in vietnam.
LunarRay
Diamond Member
Come October of this year we will see more than 2m jobs lost when the 'don't call' law goes into effect. What will this mean to our growing economy? All those unemployment drains on lowered revenues and the money these folks won't spend plus the affect on the companies' revenue that use them...
This is a big deal in my opinion..
This is a big deal in my opinion..
LunarRay
Diamond Member
No I've not. But, they won't need the folks who talk to me and you every day and twice on saturday. And the companies will figure the potential market size is much less so they'll pay less to the tellemarketer and they'll fire people (both entities) because they think they'll sell less..
dmcowen674
No Lifer
Speaking of India and Telemarketing calls.
Does the Federal No Call List include not allowing Telemarketing Calls from Foreign Countries?
All of the Big Telemarketing Firms and Banks such as CitiBank have closed down U.S. operations and moved their Telemarketing Centers to India over the last 6 months. Sure sounds like they are planning on blitzing the U.S. from there.
dmcowen674
No Lifer
Who is writing this stuff???
While the economy began to climb out of recession in November 2001, it has continued to lose jobs.
"The productivity of U.S. businesses surged in the second quarter, allowing firms to boost output while reducing the overall number of hours worked, the government said on Thursday."
"Strong advances in productivity -- or output per hour of all workers -- have allowed business to increase production without adding workers to their payrolls."
"Unit labor costs, a closely monitored gauge of potential wage pressures, fell a revised 2.8 percent, a good sign for firms struggling to shore up profits."
"Economists say, however, that in the long run strong advances in productivity are good for the economy since improved efficiency is the main building block for better living standards."
Congratulations on suceeding in turning the U.S. into a sweat shop.
While the economy began to climb out of recession in November 2001, it has continued to lose jobs.
"The productivity of U.S. businesses surged in the second quarter, allowing firms to boost output while reducing the overall number of hours worked, the government said on Thursday."
"Strong advances in productivity -- or output per hour of all workers -- have allowed business to increase production without adding workers to their payrolls."
"Unit labor costs, a closely monitored gauge of potential wage pressures, fell a revised 2.8 percent, a good sign for firms struggling to shore up profits."
"Economists say, however, that in the long run strong advances in productivity are good for the economy since improved efficiency is the main building block for better living standards."
Congratulations on suceeding in turning the U.S. into a sweat shop.
Zebo
Elite Member
That's exactly thier goal. This way Unions will disappear, wages accross board will go down and you will be thankful if you have a job. Almost forced servitude. We need to empower people again. Bring back homsteading, up minimum wage to $20, make it illegal to export capital, and no taxes till you hit 100K. 🙂
Jobless Claims Rise, Productivity Strong
They have people running scared doing double the work for less money. Read the Reuter's headline:
"Jobless Claims Rise, Productivity Strong"
It's a CEO's dream. Fewer people working harder running scared becuase they have no union to back them or guarantee job security. Little wonder this is a jobless recovery. It's designed to be.
They have people running scared doing double the work for less money. Read the Reuter's headline:
"Jobless Claims Rise, Productivity Strong"
It's a CEO's dream. Fewer people working harder running scared becuase they have no union to back them or guarantee job security. Little wonder this is a jobless recovery. It's designed to be.
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