Wednesday, November 12, 2008

Amateur Hour: Prologis Runs Up a Score of Their Own

Prologis has come to bat and knocked a the ball into their own triple-play, they have effectively had their CEO resign in the wake of a slashed dividend of more than half, stop new development plans (finally!), and undefined quantity of job cuts.

This company was in the business of creating warehouses. These serve to hold the junk that people buy before they get to the stores where the clownsumer dutifully spent borrowed money to obtain these items. With this obviously not occurring and not to occur, these guy's game is over. To lift your spirits, the intelligent George Carlin had some words on this type of activity. May he rest in peace, for he was able to see the beginnings of the behavior and the start of the repurcussions of said behavior. I leave you with this (link: http://www.youtube.com/watch?v=MvgN5gCuLac).

Related:
Property, not the Place to Be: AMB Property Hit
Rumor: Circuit City to close 150 stores within 60 days
Consumer Spending Drops Most In 28 Years
Crisis of Consumer Confidence
Retail Closure and Unemployment

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