Even newer sceenshots leaked. This are winrar!!!!!!!!!
Monday, September 6, 2010
Thursday, August 19, 2010
Clownsumers at it again. Nokia N9 Leaked AND Meego Leaked ?
For those clownsumers who can't even wait for product to release and somehow mis-obtained a Nokia N9 prototype or a Meego prototype. Engadget broke this news and put some additional images in their story.
I copied one here with some edits to show some cutting edge concepts, in my interpretation, of thoughts and technologies by our industrial giants.
Related:
3,000 dropped calls
Saturday, November 29, 2008
Wretched Clownsumers
Just catching up with the virtual world and reading some news about the black friday and aftermath. I came across this disgusting piece about a Walmart employee who died on the job due to the American clownsumer's last hurrah.
This is horrific, ridiculous, and most of all it is downright scary. Imagine a further devolving of the fake standard of life the American clownsumer has been feeling they're entitled to having. To save a couple hundred bucks on items that are not necessary which results in manslaughter can make one think further down the line and into the face of an economy where people's needs are no longer met than their simple superficial idiotic wants. This is something that keeps me up at night and scares the heck out of me in a non-tinfoil type of manner.
This is horrific, ridiculous, and most of all it is downright scary. Imagine a further devolving of the fake standard of life the American clownsumer has been feeling they're entitled to having. To save a couple hundred bucks on items that are not necessary which results in manslaughter can make one think further down the line and into the face of an economy where people's needs are no longer met than their simple superficial idiotic wants. This is something that keeps me up at night and scares the heck out of me in a non-tinfoil type of manner.
Friday, November 21, 2008
Retail Implosion: Steve & Barry's Bankruptcy
Steve and Barry's just can't find its way out of bankruptcy and has declared for bankruptcy again and announced liquidation of all its stores.
Around the pike are 5,000 layoffs, which is its employment count, and some woes for commercial real estate owners of properties they will vacate. Its been a while since we wrote about store closings and the impact on the commercial properties owners, but I expect to accelerate stories like that into the new year after the clownsumer holiday period.
Steve and Barry's is based in Port Washington, New York.
Related:
Rumor: Circuit City to close 150 stores within 60 days
Retail Closure and Unemployment
Kumar Would Be Upset: Harold's Files Bankruptcy
Consumer Spending Drops Most In 28 Years
Around the pike are 5,000 layoffs, which is its employment count, and some woes for commercial real estate owners of properties they will vacate. Its been a while since we wrote about store closings and the impact on the commercial properties owners, but I expect to accelerate stories like that into the new year after the clownsumer holiday period.
Steve and Barry's is based in Port Washington, New York.
Related:
Rumor: Circuit City to close 150 stores within 60 days
Retail Closure and Unemployment
Kumar Would Be Upset: Harold's Files Bankruptcy
Consumer Spending Drops Most In 28 Years
Falling Oak, Up a Creek Without Paddle: Viasystems Closing Oak Creek and Layoffs
Viasystems Milwaukee Group Inc., a maker of PCB and a surprise that it isn't all already shipped out to Taiwan and China, has declared the closure of their Oak Creek facility in Wisconsin, the cheese state, causing 238 layoffs.
It came as a surprise to me that this type of business is still ongoing in America. Even more surprising is that it will still be ongoing even with the recent dollar strength and shipping price reductions. Serving domestic demand with employees in middle America with lowered wages seemed to have had potential with weak dollar, high gas prices, high Baltic Dry Index freight shipping prices, and relatively low wages. Alas, most of those elements turned around.
Viasystems Milwaukee is surprisingly based in St. Louis, Missouri.
Related:
Dynamic Shared Pain: Thilmany to Reduce Work
Cut the Staff: Miller Electric Saws Off 6% in Layoff
No Walk in the Park: Park Electrochemical Lays Off
It came as a surprise to me that this type of business is still ongoing in America. Even more surprising is that it will still be ongoing even with the recent dollar strength and shipping price reductions. Serving domestic demand with employees in middle America with lowered wages seemed to have had potential with weak dollar, high gas prices, high Baltic Dry Index freight shipping prices, and relatively low wages. Alas, most of those elements turned around.
Viasystems Milwaukee is surprisingly based in St. Louis, Missouri.
Related:
Dynamic Shared Pain: Thilmany to Reduce Work
Cut the Staff: Miller Electric Saws Off 6% in Layoff
No Walk in the Park: Park Electrochemical Lays Off
Planes, Trains, and Automobiles: Rolls-Royce on Global Purge, Layoff of 5%
Rolls-Royce, who is involved in two of the three businesses listed in the title of this post with the trains excepted, has decided to globally cut 2,000 employees off their books in their announced layoff program.
Automobiles and Planes, wow, what a bad combination of businesses to be involved in at this stage of the economic cycle. Although their autos are for a different class of people, I am sure there's plenty of the fabulously wealthy blowing themselves up in hedge funds and their own malinvestments like Yahoo, their own company's stock, and oil prices. These people might think twice before purchasing a new automobile.
Additionally, the planes area is hit hard by the commoners. With reduced credit lines and no cash, many people will have no means to use the airplanes. In fact, the airliners have much less use for their existing airplanes let alone new product.
Related:
Where's Atlantis?? Oh Yeah That's Right, Underwater!
Cessna Comes Crashing Down
Down the Slope and Off a Cliff: Yellowstone Mountain Club LLC Files Bankruptcy
Thriftyness in High End
Automobiles and Planes, wow, what a bad combination of businesses to be involved in at this stage of the economic cycle. Although their autos are for a different class of people, I am sure there's plenty of the fabulously wealthy blowing themselves up in hedge funds and their own malinvestments like Yahoo, their own company's stock, and oil prices. These people might think twice before purchasing a new automobile.
Additionally, the planes area is hit hard by the commoners. With reduced credit lines and no cash, many people will have no means to use the airplanes. In fact, the airliners have much less use for their existing airplanes let alone new product.
Related:
Where's Atlantis?? Oh Yeah That's Right, Underwater!
Cessna Comes Crashing Down
Down the Slope and Off a Cliff: Yellowstone Mountain Club LLC Files Bankruptcy
Thriftyness in High End
If the Key Don't Fit: KeyCorp Further Reduced Dividend
KeyCorp, a bank, has slashed its dividend a second time after declaring comfort with the dividend level a month ago. It is now down to 6.25 cents a share from the prior cut at 18.75 and even more massive of a mark down from the 37.5 earlier in the year.
Some fixed income folks and mutual funds are going to be distributing less because of actions like this across the market. Banks, Shipping, and Real Estate have been some notable sectors doing heavy dividend cuts in this climate.
Related:
Dividend Cuts
Out of the Sky and Into the Ash: Ashland Trashes Dividend Almost 75%
Property, not the Place to Be: AMB Property Hit
The Rock is Chipped: Prudential Dividend Cut Nearly in Half
Some fixed income folks and mutual funds are going to be distributing less because of actions like this across the market. Banks, Shipping, and Real Estate have been some notable sectors doing heavy dividend cuts in this climate.
Related:
Dividend Cuts
Out of the Sky and Into the Ash: Ashland Trashes Dividend Almost 75%
Property, not the Place to Be: AMB Property Hit
The Rock is Chipped: Prudential Dividend Cut Nearly in Half
Malinvestment Staff Not Needed: JPMorgan to Layoff 10% of Perpetrators
JPMorgan is due to layoff about 3,000 folks from the investment banking business. Will they take a page from Citi and layoff more than expected when the announcement comes surfaces?
Reportedly this company will also freeze salaries for people who Obama considers rich, in the 60k range and higher. Loss of a high paying job or a frozen salary will both put a damper on the consumption scene of New York. The city will also be impacted in reduced tax collection, so expect to begin to see expanded cost cutting measures by the city.
Investment banking was the place to be for a short time. Where else could a person go to their desk and underperform their job meanwhile collect on high 6 and into 7 figures for salary plus bonus? These jobs are now gone and there's going to be no need for them to come back in the next economical upswing. Wonder what field many of those who came under the gun will move into?
In short, their job skill consisted of following a formula set forwards by the creative Ranieri which involved packaging up trash with several neighbors trash and marketing it as a bond. Meanwhile convincing some governments and financial institutes to invest in the bond and selling insurance against defaults on the bond that they could not cover and finding another insurer without enough money to cover the bond and dumb enough to underestimate risk on the bond and making an arbitrage spread.
Related:
Rainy Days: Ranieri Co-founded Bank Franklin Bank Saves No More Pennies
Lost Golden Boys: Goldman Sachs to cut 10%
Finance sector layoffs? Predictable as the sun rise.
Reportedly this company will also freeze salaries for people who Obama considers rich, in the 60k range and higher. Loss of a high paying job or a frozen salary will both put a damper on the consumption scene of New York. The city will also be impacted in reduced tax collection, so expect to begin to see expanded cost cutting measures by the city.
Investment banking was the place to be for a short time. Where else could a person go to their desk and underperform their job meanwhile collect on high 6 and into 7 figures for salary plus bonus? These jobs are now gone and there's going to be no need for them to come back in the next economical upswing. Wonder what field many of those who came under the gun will move into?
In short, their job skill consisted of following a formula set forwards by the creative Ranieri which involved packaging up trash with several neighbors trash and marketing it as a bond. Meanwhile convincing some governments and financial institutes to invest in the bond and selling insurance against defaults on the bond that they could not cover and finding another insurer without enough money to cover the bond and dumb enough to underestimate risk on the bond and making an arbitrage spread.
Related:
Rainy Days: Ranieri Co-founded Bank Franklin Bank Saves No More Pennies
Lost Golden Boys: Goldman Sachs to cut 10%
Finance sector layoffs? Predictable as the sun rise.
Massacre in City That Never Sleeps: Bank of New York Mellon Layoffs
Bank of New York Mellon has introduced a fairly massive layoff by announcing a reduction in force of almost 5% of their staff eliminating 1,800 employees jobs.
The bank acquired a financial company, which quite possibly was a smoking gun for why they're having underperformance and resorting to layoffs like all their sector buddies. New York high-end excesses is going to be a ghost town over the next couple of years.
Related:
Citi Under Siege: Citigroup Announced Layoffs Larger Than Expected
Lost Golden Boys: Goldman Sachs to cut 10%
Finance sector layoffs? Predictable as the sun rise.
The bank acquired a financial company, which quite possibly was a smoking gun for why they're having underperformance and resorting to layoffs like all their sector buddies. New York high-end excesses is going to be a ghost town over the next couple of years.
Related:
Citi Under Siege: Citigroup Announced Layoffs Larger Than Expected
Lost Golden Boys: Goldman Sachs to cut 10%
Finance sector layoffs? Predictable as the sun rise.
Last Hurrah: Harrah's Closes Office Layoffs
Harrah's Entertainment Inc is scaling itself back as the American clownsumer scales itself back and has announced closure of a Tennessee office, which results in the layoff of 250 employees. Fifty adventurous ones will be moving to Las Vegas.
Obviously they did not blame the economy and just cited consolidation of corporate functions. However, if that were the only case, then management has got to be more effective. If maintain separate offices was eating up costs, why not provide a better return for the owners by making this move earlier? It certainly seems economic related especially with the other businesses in their sector outlined on this blog already being in pain.
Related:
Crippled Industry: Imperial Casino Hotel Filed Bankruptcy
You've Got to Know When to Fold Them: Ameristar Layoffs
Holes in the Vice Index = Strife?
Obviously they did not blame the economy and just cited consolidation of corporate functions. However, if that were the only case, then management has got to be more effective. If maintain separate offices was eating up costs, why not provide a better return for the owners by making this move earlier? It certainly seems economic related especially with the other businesses in their sector outlined on this blog already being in pain.
Related:
Crippled Industry: Imperial Casino Hotel Filed Bankruptcy
You've Got to Know When to Fold Them: Ameristar Layoffs
Holes in the Vice Index = Strife?
Out of the Sky and Into the Ash: Ashland Trashes Dividend Almost 75%
Ashland has reduced its dividend by almost 75% in a trend we are seeing more and more these days.
Being in chemicals, oils, and plastics just ain't what it was cracked up to be in this downturn compared to the boomtimes of the American clownsumer. It is always difficult to define a decade era that begins with the 00s. I am hereby declaring this the millenial decade of the idiot clownsumer.
Ashland is based in Covington, Kentucky.
Related:
Dividend Cuts
Terminal Solution: Solutia Closes Some Shop and Lays Off Elsewhere
Bad News In A Small Town
Cut the Staff: Miller Electric Saws Off 6% in Layoff
Being in chemicals, oils, and plastics just ain't what it was cracked up to be in this downturn compared to the boomtimes of the American clownsumer. It is always difficult to define a decade era that begins with the 00s. I am hereby declaring this the millenial decade of the idiot clownsumer.
Ashland is based in Covington, Kentucky.
Related:
Dividend Cuts
Terminal Solution: Solutia Closes Some Shop and Lays Off Elsewhere
Bad News In A Small Town
Cut the Staff: Miller Electric Saws Off 6% in Layoff
Front Page News: New York Times Slashes Dividend
New York Times Company has majorly reduced its dividend, almost 75%. The newspaper business just isn't what it used to be. This is probably an economic sector that should have gone through its pains in the last downturn as the Internet media was waking from its bubble deflation. However, there were an endless supply of real estate professionals and banks eager to buy ads to target the less than intelligent members of our society, otherwise known as clownsumers.
Related:
Dividend Cuts
Newspapers!
Disassociated Press: AP to Cut 10% of Staff in 2009
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail
Related:
Dividend Cuts
Newspapers!
Disassociated Press: AP to Cut 10% of Staff in 2009
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail
Thursday, November 20, 2008
Disassociated Press: AP to Cut 10% of Staff in 2009
Preliminary reports suggest that Associated Press' Chief Executive Tom Curley has broken the bad news at a meeting to the 162 year old media company's employees that there are plans to cut around 400 workers, or 10% of their employees in 2009.
Reductions in advertising revenue no doubt contribute to AP's problems in a major way. They recently restructured their rates to make it cheaper for member publishers to contribute because so many are struggling due to a weak advertising market.
Associated Press is headquarterd in New York, NY.
Related:
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail, Newspapers!, Difficult Times: North County Times (San Diego) Writes Off 10% of Staff, Dunder Mifflin Supplier in Pain: Boise lays off a lot
Reductions in advertising revenue no doubt contribute to AP's problems in a major way. They recently restructured their rates to make it cheaper for member publishers to contribute because so many are struggling due to a weak advertising market.
Associated Press is headquarterd in New York, NY.
Related:
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail, Newspapers!, Difficult Times: North County Times (San Diego) Writes Off 10% of Staff, Dunder Mifflin Supplier in Pain: Boise lays off a lot
Mayer Brown: Case Closed
Mayer Brown, a 127 year old law firm that advises 89 of the Fortune 100 companies and has 1,400 lawyers worldwide and around 1,000 in North America has announced the forced resignation of 33 people from offices in the US. The jobs to be cut include lawyers and support personnel.
No indication was given as to which location the jobs would be pruned from, but according to their website, they have a presence in the following US cities: Charlotte, Chicago, Houston, Los Angeles, New York and Washington D.C. You take your pick.
Citing "slowdown in economic activity," Mayer Brown becomes another tally mark on the increasingly lengthy list of companies downsizing in an attempt to better suit the post-debt bubble economy.
It is unclear where Mayer Brown is headquartered, but their original and largest office is in Chicago, Illinois.
No indication was given as to which location the jobs would be pruned from, but according to their website, they have a presence in the following US cities: Charlotte, Chicago, Houston, Los Angeles, New York and Washington D.C. You take your pick.
Citing "slowdown in economic activity," Mayer Brown becomes another tally mark on the increasingly lengthy list of companies downsizing in an attempt to better suit the post-debt bubble economy.
It is unclear where Mayer Brown is headquartered, but their original and largest office is in Chicago, Illinois.
Holy Toledo: Toledo's Govt. shuts down for 3 days
A poster boy move for the New Economy, the Mayor of Toledo, Ohio has announced that the city's government there will completely shut down all nonessential operations for three days, with the intent of saving about $1 million.
Running a deficit of approximately $10m for 2008, this is a plan to help shore up the balance sheet.
The government will shut down on the following days: November 26th, December 26th and December 31st.
Related:
Yonkers Goes Bonkers, Governments can lay off too
Running a deficit of approximately $10m for 2008, this is a plan to help shore up the balance sheet.
The government will shut down on the following days: November 26th, December 26th and December 31st.
Related:
Yonkers Goes Bonkers, Governments can lay off too
General Discontent: GM in trouble
Back in the Golden Days where everyone had 4 credit cards and a HELOC on their rapidly-appreciating home, General Motors had it good. People were lining up at the door to have the opportunity to purchase a vehicle they could not afford - on someone else's dime, at interest.
However, as you are well aware as a crafty USA Consumer Tracking reader, the Golden Days of limitless easy credit and living beyond your means are over, certainly for the foreseeable future ... and it's certainly debatable if they'll ever return.
As proof, I submit to you, the current symptoms GM is exhibiting that reveal the dire straits it is in.
Two days before Christmas this year, GM's Moraine truck assembly plant near Dayton Ohio will close its doors permanently. When things were good, nearly 5,000 people derived their bread and butter from the plant. That number has dwindled down to 1,400 at the time this was written, and all 1,400 of those people will be shown the door on December 23rd. Originally, the plan was for a temporary shutdown in December, but obviously, things have gotten so bad that they've decided the plant doesn't serve a purpose anymore.
This plant manufactured, you guessed it, SUVs that nobody is buying. The specific models include Chevy Trailblazer, GMC Envoy and some Saab SUVs. Sales on these units in September 2008 were down 40% YoY.
In addition to the GM plant closure, there is also a considerable amount of collateral damage. Take for example the Jamestown Industries Moraine plant #2. These guys used to prepare and deliver auto parts to the GM plant, and like many other small businesses in and around Dayton, the GM plant was their only customer. Formerly employing 200 people, they're now down to 64, and those people will lose their jobs the day the GM plant closes. Many other businesses in the area are going to have to think real quick about how to salvage their business model now that their customer has evaporated. This does not bode well for Dayton.
GM has cut around 34,000 hourly jobs since 2006. 1,900 other GM layoffs were announced November 10th at stamping and powertrain plants in Michigan.
Although it does not directly apply to the American consumer, it is notable that across the globe in Thailand, GM is also laying of 250 people from and temporarily closing a plant there for two months in December and January. 2,000 people will remain employed at the factory and will receive 75% of their normal pay during the temporary closure.
They're also closing a light truck assembly line in Canada where 10,000 people are employed.
Now that GM has come out in the open about their financial conundrum and asked the US Government to bail them out, their very survival is in question. Clowngress (even the most liberal of them) are asking GM to come up with a better plan than "please give us money, we're important." They want to know how GM plans to use the loan to restructure, regroup and return to viability. I personally do not think that the management at GM knows what they are doing with the company or where to go from here.
Their dividend is being suspended on common stock as well as raises for salaried workers and bonuses for executives. I will not be surprised one bit if GM files for bankruptcy in the next few months.
General Motors is headquartered in Detroit, Michigan.
Related:
General Reduction in Force, Mother Trucker! Paccar Layoffs, Bad News In A Small Town, Toilet Odor? Toyota Joins the Fray
However, as you are well aware as a crafty USA Consumer Tracking reader, the Golden Days of limitless easy credit and living beyond your means are over, certainly for the foreseeable future ... and it's certainly debatable if they'll ever return.
As proof, I submit to you, the current symptoms GM is exhibiting that reveal the dire straits it is in.
Two days before Christmas this year, GM's Moraine truck assembly plant near Dayton Ohio will close its doors permanently. When things were good, nearly 5,000 people derived their bread and butter from the plant. That number has dwindled down to 1,400 at the time this was written, and all 1,400 of those people will be shown the door on December 23rd. Originally, the plan was for a temporary shutdown in December, but obviously, things have gotten so bad that they've decided the plant doesn't serve a purpose anymore.
This plant manufactured, you guessed it, SUVs that nobody is buying. The specific models include Chevy Trailblazer, GMC Envoy and some Saab SUVs. Sales on these units in September 2008 were down 40% YoY.
In addition to the GM plant closure, there is also a considerable amount of collateral damage. Take for example the Jamestown Industries Moraine plant #2. These guys used to prepare and deliver auto parts to the GM plant, and like many other small businesses in and around Dayton, the GM plant was their only customer. Formerly employing 200 people, they're now down to 64, and those people will lose their jobs the day the GM plant closes. Many other businesses in the area are going to have to think real quick about how to salvage their business model now that their customer has evaporated. This does not bode well for Dayton.
GM has cut around 34,000 hourly jobs since 2006. 1,900 other GM layoffs were announced November 10th at stamping and powertrain plants in Michigan.
Although it does not directly apply to the American consumer, it is notable that across the globe in Thailand, GM is also laying of 250 people from and temporarily closing a plant there for two months in December and January. 2,000 people will remain employed at the factory and will receive 75% of their normal pay during the temporary closure.
They're also closing a light truck assembly line in Canada where 10,000 people are employed.
Now that GM has come out in the open about their financial conundrum and asked the US Government to bail them out, their very survival is in question. Clowngress (even the most liberal of them) are asking GM to come up with a better plan than "please give us money, we're important." They want to know how GM plans to use the loan to restructure, regroup and return to viability. I personally do not think that the management at GM knows what they are doing with the company or where to go from here.
Their dividend is being suspended on common stock as well as raises for salaried workers and bonuses for executives. I will not be surprised one bit if GM files for bankruptcy in the next few months.
General Motors is headquartered in Detroit, Michigan.
Related:
General Reduction in Force, Mother Trucker! Paccar Layoffs, Bad News In A Small Town, Toilet Odor? Toyota Joins the Fray
Sicko: HealthMarkets Lays Off
HealthMarkets, an insurer, has done a layoff of 220 employees out of the 1,700 that they had. This company has a laundry list of problems recently that one might venture to be of the opinion that they are terminal.
Health sector has seen some recent news in medical school and hospital layoffs. Insurers are in a money game in addition to the healthcare environment. Financials are more problematic, so expect to see insurers continued to be bailed out or cease existence.
HealthMarkets is based in North Richland Hills, Texas.
Related:
Beaumont is Sick: Beaumont Hospitals Lays off 500
Mediiiiic! UTMB Bleeds Out
Erosion at BlackRock: Jobs to be Lost
Health sector has seen some recent news in medical school and hospital layoffs. Insurers are in a money game in addition to the healthcare environment. Financials are more problematic, so expect to see insurers continued to be bailed out or cease existence.
HealthMarkets is based in North Richland Hills, Texas.
Related:
Beaumont is Sick: Beaumont Hospitals Lays off 500
Mediiiiic! UTMB Bleeds Out
Erosion at BlackRock: Jobs to be Lost
Difficult Times: North County Times (San Diego) Writes Off 10% of Staff
North County Times, a Northern San Diego newspaper, has printed pink slips for 34 employees in their announced layoff. 25 of these will come from their newsroom. This comes after 10 employees were delivered their walking papers in September.
We have pontificated on newspapers and advertisements before, so allow us to bring up a different point again. Notice that this was round 2 of layoffs. Many companies learn that when doing a layoff they should do it deeply, so they only have to do it once. However, these days many companies are trying to reduce as little as possible in order to minimize the pains on their employees and wind up having to cut again as things worsen. This can hurt morale and productivity more than the single deep cut purge will do.
Related:
Newspapers!
Dunder Mifflin Supplier in Pain: Boise lays off a lot
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail
We have pontificated on newspapers and advertisements before, so allow us to bring up a different point again. Notice that this was round 2 of layoffs. Many companies learn that when doing a layoff they should do it deeply, so they only have to do it once. However, these days many companies are trying to reduce as little as possible in order to minimize the pains on their employees and wind up having to cut again as things worsen. This can hurt morale and productivity more than the single deep cut purge will do.
Related:
Newspapers!
Dunder Mifflin Supplier in Pain: Boise lays off a lot
A Googol Reasons why the Great Ad Fallback Biz Model is Full of Fail
Terminal Solution: Solutia Closes Some Shop and Lays Off Elsewhere
Solutia, a plastics related business, has closed a factory in Greenwood, South Carolina and made layoffs across other sites to bring the layoff count to 500.
Continued lessened demand for all products across all categories from clownsumers of all kinds are feeding back into the cycle of depressed earnin gs or making losses and causing job cuts at producers, distributors, or retailers of said products.
Solutia is headquartered in St. Louis, Missouri.
Related:
Bad Form: Insituform Technologies Drops 35 Down a Sewer
Bad News In A Small Town
Rust Belt, a Little Rustier: Eastman Chemical Co. Cuts Jobs
Continued lessened demand for all products across all categories from clownsumers of all kinds are feeding back into the cycle of depressed earnin gs or making losses and causing job cuts at producers, distributors, or retailers of said products.
Solutia is headquartered in St. Louis, Missouri.
Related:
Bad Form: Insituform Technologies Drops 35 Down a Sewer
Bad News In A Small Town
Rust Belt, a Little Rustier: Eastman Chemical Co. Cuts Jobs
Jobless Claims: Still on their Upward March
If you've been reading along to this blog, you will note that many of the layoff notices were not for immediate effect. As you can expect many of the prior layoffs are showing up in the numbers finally and will continue doing so for some time. This week's figures push the envelope to a high water mark from 16 years ago. The initial claims figures are at 542,000 this week which hasn't been seen since 1992.
Remember, for every one of those 542,000, a lot more spending will be impacted. Firstly, their family will be consuming less. Secondly, their coworkers who may also be nervous about their jobs will cut back. Finally, many have announced layoffs, but yet to take action. Individuals in that situation will likely scale back consumption.
Related:
Government Bloat Under Scrutiny
Retail Closure and Unemployment
Retail consolidation and more consumers in trouble
Remember, for every one of those 542,000, a lot more spending will be impacted. Firstly, their family will be consuming less. Secondly, their coworkers who may also be nervous about their jobs will cut back. Finally, many have announced layoffs, but yet to take action. Individuals in that situation will likely scale back consumption.
Related:
Government Bloat Under Scrutiny
Retail Closure and Unemployment
Retail consolidation and more consumers in trouble
Subscribe to:
Posts (Atom)