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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:41 PM
Original message
What the hell is going on? I just read posts that 5 different co's were
either laying a lot of people off or shutting their doors completely, and I read all of those threads in the last 10 minutes!

Delta, Sony, Chrysler, SD Tribune, and CompUSA.

I also read a thread about Allegheny County, Pa. laying off 200+ people before the end of December!

I'm not even including all the stories I've read of the various banks laying people off due to the RE crash.

DAMN...is our pathological liar President still claiming the economy is doing GREAT????
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MNDemNY Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:42 PM
Response to Original message
1. NAFTA
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:47 PM
Response to Reply #1
6. No, I don't think so. NAFTA really didn't have much effect on
Delta or the SD Trib, and I think Sony and Comp USA already had the China effect long before NAFTA. The only one MAYBE hit by NAFTA was Chrysler, and although I realize the foreign market sure didn't help Chrysler, their management didn't do anything to help them either!
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glowing Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 02:51 PM
Response to Reply #6
40. When times get tough, nobody buys.. it cuts into everyone's profits
If you don't have a job, what money do you use? On the other hand, this is the best way to repeal these idiotic Trade agreements for Fair Trade agreements and bring in the New Green Deal agenda.. Hopefully, we can all hang on long enough until a Dem is around to do this.. And I think John and Dennis would both install a New Deal agenda in a Green Progressive manner.

What corporations must understand is that, in order for their products to be bought, they must ensure their own employees would be able to buy their product.. If the employee cannot buy, then why do they think the rest of the people in the US can buy if the wages are all shitty.
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NMDemDist2 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:44 PM
Response to Original message
2. just take a look at the Labor forum and all the announced job cuts
I fear we're on a slope that's accelerating rapidly under our feet

Deep Job Cuts Announced at 'San Diego Union-Tribune'

Allegheny County, PA. plans 200 job cuts for the holidays! (Merry Xmas!!) Breeze54

Report: 3M plans job cuts (Minneapolis / St. Paul )

Sony job cuts bring firing season into full swing

Delta to cut jobs, growth Click here to hide this thread

Signs Points to More Chrysler Job Cuts (12,000 jobs)

US job cuts jumped 16 pct in November

UPDATE: Lilly chief says more job cuts on the way

Job cuts at Dow hit home ( 1,000 positions are on the chopping block)

Bristol-Myers to Eliminate 4,800 Jobs


http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=367
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Breeze54 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:14 PM
Response to Reply #2
11. Citibank is the #1 bank in the USA and they're cutting 17,000 to 45,000 jobs!
What does that tell you??

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=tnBusinessNews&storyID=2007-11-26T133454Z_01_N26387696_RTRIDST_0_BUSINESS-CITI-JOBS-DC.XML

Be afraid. Be very afraid.

Tighten your seatbelt for this ride! It's all down hill from here! :grr:
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BelgianMadCow Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 07:58 PM
Response to Reply #11
30. Citibank is throwing money at ya to take a creditcard (20 euro/year)
they must be desperate to get some euros.

The biggest belgian bank has a chinese majority of shareholders since last week. WTF?!
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:44 PM
Response to Original message
3. The dollar has crashed plus the mortgage mess...
This should be a pretty dismal Holiday season for lots of people. :(
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MattSh Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 09:26 AM
Response to Reply #3
34. Has crashed???
Hell, it's only just begun.
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 12:52 PM
Response to Reply #34
37. Okay so the dollar is actually "crashing"....
:nuke:
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nightrider767 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:45 PM
Response to Original message
4. Tis The Season
WHo knows, maybe coincidence, or maybe the beginning of the recession.

This whole economy has been fueled by cheap money created by the Fed for years.

It has to pull back at some point.
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sicksicksick_N_tired Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 05:59 PM
Response to Reply #4
26. ,...to be jolly ON WALL STREET. The wealthiest's economy is doing great.
Not the nation's economy.

We no longer weigh economic health on the whole of this nation. DUH!
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nightrider767 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 12:10 AM
Response to Reply #26
32. Proof Positive
That Ebenezer Scrooge was based on everyday real life people.
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niyad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:47 PM
Response to Original message
5. bristol-meyers squib as well (and cadbury's, in england, not that it is part of our
economy, but still. . .)
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Warren Stupidity Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:51 PM
Response to Original message
7. End of year bookkeeping disasters.
It is a rather clear sign that the economy is more than a bit on the sucking side. However Wall Street, as usual, will be just thrilled. They love them a big layoff, a shuttering, a GOB.
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spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:52 PM
Response to Original message
8. merry christmas and a Katrina economy to one and all !!!!!
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Peregrine Took Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:53 PM
Response to Original message
9. I've heard this often happens in December - some accounting BS for "end of
the year" numbers juggling to paint a rosy picture for Wall Street and the investors.
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Mabus Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 02:54 PM
Response to Original message
10. Bush is doing for our economy the same thing he did at Arbusto
Now all that's left to do is to sell America to one of his daddy's friends and make a hefty profit. Then he'll kick back and watch baseball.

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bananas Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:16 PM
Response to Original message
12. Citigroup planning major job cuts: report (between 17,000 and 45,000)
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niyad Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:17 PM
Response to Original message
13. levitz furniture is closing. nobody knows how many workers that is.
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Breeze54 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:17 PM
Response to Original message
14. When they lie and say more jobs were added...they mean 'service' jobs
and that happens every Nov. for the Xmas shopping but those jobs will soon disappear.

They still are not counting people who are unemployed and not collecting unemployment anymore.



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datadiva Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:20 PM
Response to Original message
15. Our wonderful economy in action
Try finding a job in this atmosphere. I have a family member who has been trying for months to find a job. Its very depressing. And we are not in a recession?
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Wcross Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:21 PM
Response to Original message
16. We are heading into a recession.
Oh, Bush is also lying about the real inflation rate which is estimated to be around 11-12%. Oh, the WMD's in Iraq. "Mission accomplished" ect....... Pathological liars lie.
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:23 PM
Response to Original message
17. Funny how Cheney/Bush have the BEST job security, isn't it?
:grr:

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Breeze54 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:27 PM
Response to Reply #17
19. Thanks to... "It's OFF the table!"
:grr:

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brazos121200 Donating Member (626 posts) Send PM | Profile | Ignore Sat Dec-08-07 03:26 PM
Response to Original message
18. Not to worry, I hear McDonald's is doing a lot
of hiring right now.
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 05:49 PM
Response to Reply #18
23. Chic-Fil-A is humming everyday but Sunday here....Booming Business
The "Take Out" lines go 'round the block here in the South...while those car motors spew out fumes.

Life is good when you can get your FAST FOOD CHEAP.. And what about those Florida Tomato Pickers who got cheated out of wages because Taco Bell & Burger King want to keep inflation under control for their customers so CNBC and Larry Kudlow can say "This is the GREAT AMERICAN ECONOMY....only 4.7 unemployment and NOW INFLATION." Ain't LIFE GRAND ...in BUSHCO FAKE DISNEY WORLD ECONOMY!
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formercia Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 07:51 PM
Response to Reply #18
29. They were lined up today
people buying $1 double cheeseburgers.


Mad Cow special.
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coco77 Donating Member (966 posts) Send PM | Profile | Ignore Sat Dec-08-07 03:31 PM
Response to Original message
20. Its been going on for years...
some just don't want to admit it. I guess it has finally hit some neocons and repugs.
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catmandu57 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:31 PM
Response to Original message
21. HR Block
is cutting jobs in KC I don't remember the exact number but it is substantial. They got in trouble trying to do other financial things and it's costing them, also last week the biggest home builder in Kansas City announced that they are quitting there, they can't sell the homes they've built many will sit uncompleted.
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formercia Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 03:35 PM
Response to Original message
22. Christmas Bonus time
The more people they can lay off helps the bottom line and their end of year bonus. The boys want to collect that one last windfall before they let everything go to Hell.
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 05:52 PM
Response to Reply #22
24. Ah...but watch DOW 14,000 or More by Year END! Wall Streeters gotta get their Bonus so
bring in some Saudi's and UAI's folks to buy 10% of the NASDAQ and have Bernanke Goose the Fed and LIFE IS GOOD...on Wall St.....even when the Hedge Funds and Mortage/Bank Collateralized Loans are going Haywire and heads are rolling at the top. Those heads will roll from Company to Company...just like Ken Lay isn't Dead but living in Florida in that "Secret Neighborhood" where the GATE keeps folks out.
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HCE SuiGeneris Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 05:53 PM
Response to Original message
25. NBC expected to make major job cuts in news division: New York Post
Edited on Sat Dec-08-07 05:55 PM by BushDespiser12
http://www.marketwatch.com/news/story/nbc-expected-make-major-job/story.aspx?guid=%7BA014CA0B-CCAD-4B8C-8B7C-69568301C33B%7D

snip> NBC division head Jeff Zucker is expected to make big cuts on the newsgathering and operational side of the company's news division, including eliminating an entire level of MSNBC's management team, in a bid to save between $20 million and $40 million, The New York Post reported in its Thursday editions.
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Breeze54 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 06:26 PM
Response to Reply #25
27. But will I really notice?
:P

Cn't say i'm very surprised about MSNBC. They've been dying a slow death for awhile.

They're (major US Co's) all firing people and laying them off...permanently!! :grr:
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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 07:33 PM
Response to Reply #25
28. Olbermann, Tweety, Abrams....on borrowed Time...and Brian Williams
because GE will cut off the News. With CNN funded by the RW Think Tanks...what will be left to watch? The rest of their affiliates will get even less "feeds" to local broadcasts. So...I guess Disney/ABC..funded by Saudi's and CBS (VIACOM WHORES who fired Dan Rather) will be left to pick up the slack. But neither have an all day "Newsfeed" (pitiful as it is) as both MSNBC and CNN have.

Americans left out in the COLD because "bidness" isn't good for Whore GE...and AOL/TIME WARNER...so we can watch "Brittany and Murder and Mayhem in the MAlls, White Women and Children Gone Missing, Celebrity Stars abusing children, themselves and pets"...and "COP/Crime Shows" until we just give up.

I don't understand the very weird strategy of firing people so that those who want to see news are forced to get fluff and terror 24/7.

Doesn't that seem odd?
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roody Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-08-07 08:48 PM
Response to Reply #28
31. There already is nothing left to watch.
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live love laugh Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 12:53 PM
Response to Reply #25
38. They should be able to make cuts easily in the news division since they don't investigate news. nt
Edited on Sun Dec-09-07 12:53 PM by live love laugh
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MiniMe Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 12:44 AM
Response to Original message
33. Merry F*cking Christmas
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madmom Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 10:00 AM
Response to Original message
35. American Standard makers of toilet bowls just announced they are closing
their doors (in north west Ohio)because of the housing slump (they say)

Bush looking out to the crowd and he says what a great looking crowd of "haves and have mores. some call you the elite, I call you my base ". "nuff said!


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Blue Diadem Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 10:21 AM
Response to Reply #35
36. They've been slated for closing for a while now.
They may be saying it's the housing slump, but I've also heard before that it was due to all the imported cheaper toilets.

I found out from a neighbor's tree cutter a couple years ago. He had worked there and lost his job. At one time they employed 700 or more. I think they are down to 200 or so now and will close their doors soon.
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lovuian Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-09-07 12:55 PM
Response to Original message
39. Recession heading for Depression
Economics 101 when the rich hold 90% of a nations assets then a Depression happens


its inevitable
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