There are two of you that hit the problem right on the head. People! Read comments made by Twinhit and Logicbot both posted on 2/4/09 to get a grasp on our main economic problems. One by logicbot touch base on the unfair trade balances that have existed since the 70's and have basicaly been allowed to go on till the present. We need to level the playing field before we compete on a global scale again. The comments of Twinhit is more to the current situation we all find ourselves in. He talks about the political singleminded greed and corruption of our government who play to the interest of the wealthy and powerful and big corporation by letting them go unchecked in their dealings with the public. Enron should have been a wake up call. Fannie Mae, Freddie Mac who gave them the go ahead to be stupid? There go the housing and the banks. Before we had the government regulating our main manufacturing plants with agencies such as EPA, OSHA. Now we have a new president that wants to punish the very people that are trying to keep our country strong by taxing them to defeat. The business owners (they make over $250K a year) who keep us working!
People We need to adopt Reagan's principles again but on a grander scale. Instead of less government, how about no government. We voted them in we can vote them out. Lets start over again with a new democracy. Their are some very smart and honest people out there that will do what it takes to get this country turned around again and not take years to do it. Some one suggested instead of just throwing peoples tax dollars at it, to stimulate the economy lets have a tax break of 30 to 60 days where no employment tax was taken out of paychecks, so forth and so on. That would stimulate the economy the people them selves. Pretty smart guy there. What we are trying to say is Government is whats making it too hard to get back on track. This problem we are having now took 30 years to make but took the recent trend to start the decline downward.
Job Killers
The firms responsible for the most layoffs.
Email To A Friend
Please fill in the following information and we'll email this link.
Continuing jobless claims rose by 159,000 in the week ended Jan. 17 to a seasonally adjusted 4.78 million, the most since the government's records began in 1967. The number of unemployed people in the US could rise by one million this month, almost twice the figure for December.
Where are the job losses coming? Nearly thirty firms account for over 173,000 of the firings so far this month.
Circuit City let 34,000 people go when it went into liquidation. Caterpillar (CAT) fired 20,000 people due to a prediction of falling earnings and a slowing global business. Pfizer (PFE) said it will fire 19,000 people as it acquires Wyeth (WYE).
Alcoa (AA) will let go 13,500 people because of falling margins and lack of demand. Sprint (S) will fire 8,000 people because of losses and an eroding share in the cellular service business. Home Depot (HD) will let go 7,000 people as it closes operations due to the slowing housing market.
Intel (INTC) will fire 6,000 workers because low PC and server sales are cutting demand for its chips. Eaton will cut 5,200 people as sales of its goods to auto and other manufacturing firms fall off. Microsoft (MSFT) will fire 5,000 people due to faltering demand for its OS software.
Boeing (BA) will fire 4,500 people due to slack demand and cancellation of aircraft orders. Hertz (HTZ) will cut 4,000 as travel demand drops. Motorola (MOT) will cut 4,000 people as sales of its handsets drop sharply.
Holcim will fire 3,300 people due to a fall-off in demand for construction. Pfizer (PFE) fired 2,400 sales people. EMC (EMC) let go 2,400 people due to falling demand for its storage hardware. Textron fired 2,200 people in its aerospace unit. Freigthliner cut 2,100 people due to dropping demand for automobiles.
Delta (DAL) fired 2,000 people as airline traffic dropped. MeadWestVaco cut 2,000 people due to cuts in demand for industrial goods. Cessna cut 2,000 people due to falling demand for light aircraft. GM (GM) cut 2,000 people due to falling sales.
Conoco (COP) cut 1,300 people as oil prices fell. Kennametal chopped 1,200 people due to dropping demand for manufacturing goods.
- 1
- 2
- Next Page »
Discuss