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alstry (36.32)

1.01.10 The Depression Has Arrived

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December 05, 2009 – Comments (8)

For Kathy Lougheed, there's no mistaking the thrill of getting a new job at a brand new hospital in Maple Grove.

"Not everyone gets an opportunity to be at the start of something from Ground Zero," Lougheed said.

But just as quickly as Kathy was hired this fall, she started her first official duty. As the Manager of the Birth Center at the new Maple Grove Hospital, Kathy needs to hire dozens of Registered Nurses to staff her department.

"We've had people from Texas. I've had people drive for an interview with me from Iowa. I have someone flying in next week from Arizona," she said.

The numbers at the Maple Grove Hospital -- which officially opens Dec. 30th -- are startling: for just 200 open positions, the hospital has received 8,500 applications.

Maple Grove Hospital CEO Andy Cochrane says the hospital benefits from the larger pool, as they're able to pick the cream of the crop. Still -- he realizes the strong response is also a reflection of the industry's tough times.

"A lot of the health care companies and partners in this region have experienced lay-offs in the past year, so we know that there are more people unemployed in healthcare," Cochrane said.

The Minnesota Hospital Association estimates the state of Minnesota lost three thousand healthcare jobs in the last year, from November 2008 to June 2009. MHA Spokeswoman Jan Hennings says the association attributes the loss to both the financial crunch and the decision of a lot of people to not do elective surgeries.

The jobs at Maple Grove Hospital included a wide variety of positions, including: RNs; pharmacists; housekeepers; and lab technicians.

http://www.kare11.com/news/news_article.aspx?storyid=829852&catid=391

8500 applicants for 200 positions.....in Health Care....in Minnesota.....where the Mayo Clinic is located.  That is over 40 applicant's per position......and the government tells us the ratio of unemployed to job openings is 6 to one and yesterday we were told Health Care added tens of thousands of jobs in November alone.

Something is fishy......and it is not walleye.

1.01.10.....millions of businesses are drawing down inventory as the year closes.....many will be unable to obtain the necessary credit to restock and forced to shut down.  The liquidation phase kicks in full force after 1.01.10....when the implosion begins.

link from dailyjobcuts.com

And if you think it is just health care.....municipalities are facing even bigger hurdles......just take a look at Chicago at this link from Mish's blog:

"You can’t even sell a public asset today. You can’t sell anything today.”
http://globaleconomicanalysis.blogspot.com/2009/12/chicago-cannibalization-mayor-daleys.html

Whether you like it or not.....Zombulation sweeps across the Nation as we head to 1.01.10.

8 Comments – Post Your Own

#1) On December 05, 2009 at 5:30 PM, alstry (36.32) wrote:

ATLANTA — More layoffs, furlough days and bigger class sizes could be looming for Georgia schools.

Funding for public schools could be slashed another $39 million says state superintendent. (photo by Karen Apricot via Flickr) Superintendent Kathy Cox says she expects to have to cut another $39 million from school funding before the fiscal year ends June 30.

$39 Million.....probably the salary of around 1000 teachers.....or the bonus of one GS taxpayer funded bonus.

THERE WILL BE MASSIVE CUTS STARTING 1.01.10.......

Rainwater’s, one of downtown San Diego’s long-standing iconic restaurants, will close at the end of the year, yet another casualty of a battered economy that has hit fine dining establishments especially hard.

One of the finest steakhouses in the nation.......if it is raining at Rainwaters.....the rest of the nation is facing a tsunami.

The world as you knew it begins to end starting 1.01.10......but it is not the end of the world......simply the start of the biggest change in American History..........

 

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#2) On December 05, 2009 at 5:43 PM, OneLegged (< 20) wrote:

+1  Keep 'em comin'.

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#3) On December 05, 2009 at 6:04 PM, Teacherman1 (28.02) wrote:

Foolanthropy On.

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#4) On December 05, 2009 at 6:34 PM, alstry (36.32) wrote:

Teacher,

If you are not inclined to actually review the holdings of the pensions you expect are coming your way........

prayer and meditation might be a good alternative.

It is amazing how indifferent people can be to their surroundings when the perceive their own conditions as satisfactory.....

where the convulsions kick in is when people realize their perceptions have been wrong.

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#5) On December 05, 2009 at 8:15 PM, SolarisKing (< 20) wrote:

Teacherman1; i love your work here on CAPS.

Alstry; When you find the one sure thing outperform, AllStarPortfolio still has room (actually you are allowed up to 2 picks).
   No rush, wait till the right moment.

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#6) On December 05, 2009 at 10:08 PM, Rebkong1 (< 20) wrote:

where is the bullishness on amerca?? 

where is the massive debt reductions?? strong dollar?? and endless opportunities for the savvy investor??

 

where did that alstry go???

 

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#7) On December 06, 2009 at 12:15 AM, alstry (36.32) wrote:

Re:

I am still bullish America...and still bullish the dollar....and still believe we have already just started The Greatest Depression man has ever seen....worldwide.

Few are prepared for a change many will feel.

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#8) On December 06, 2009 at 5:57 AM, ElevatorDown (< 20) wrote:

i have a 1st hand view at construction layoffs in nyc, i don't know how they had the nuts to pull out those employment #'s

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