2010....MASSIVE LAYOFFS ACELLERATE
Late Thursday night, as most prepared to ring in the new year, Renewable Biofuels was joylessly preparing to halt production at its giant biodiesel fuel plant in Port Neches, just a year after it opened.
The Houston-based firm said the decision became unavoidable after Congress failed to renew a tax credit of $1 per gallon for the alternative fuel on Dec. 31.
“As a result of the tax credit lapse, we expect that industry-wide pay will be cut, jobs will be lost and infrastructure and plant investments will waste away,” said Daniel J. Oh, president of Ames, Iowa-based Renewable Energy Group, one of the nation's largest biodiesel producers.
All of the company's nine plants — including one in Seabrook on Galveston Bay — “are expected to be negatively affected” by the loss of the credit, he said in an e-mailed statement without elaborating.
With the incentive suspended, the biodiesel industry could lose another 23,000 jobs after shedding 29,000 jobs in 2009, estimates the National Biodiesel Board.
“I know of a number of companies that haven't made announcements yet, but they are planning for layoffs,” said Michael C. Frohlich, spokesman for the Jefferson City, Mo.-based industry group said.
THE JOBS KEEP GETTING SLASHED WITH LITTLE PROSPECT OF NEW EMPLOYMENT. IBM ANNOUNCED ANOTHER 9,000 AFTER CUTTING AN EQUAL AMOUNT LAST YEAR.
SOON ALL WILL BE ASKING WHY DO GOVERNMENT AND BANKERS GET UNLIMITED FREE CREDIT BUT THE REST OF THE NATION IS BEING CUT OFF????????
The nation's banks will be bombarding customers with new fees and products in 2010 as they try to replace more than $50 billion in revenue wiped out by new rules that clamp down on certain business practices.
So far, the changes are mostly concentrated in checking accounts and credit cards. In addition to attaching new fees to old products, banks are introducing new types of accounts that they hope will reel in new customers and reduce their funding costs.
2010.....IT HAPPENS WHEN BENNY THE B ZOMBULATION POLICIES DIVIDES AMERICA BETWEEN THOSE WITH ACCESS TO FREE CREDIT AND THOSE THAT DON'T.