Blood Everywhere After The September Slasher
September 25, 2009
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OVERLAND PARK, Kan., Sept 25 (Reuters) - Troubled trucking concern YRC Worldwide Inc was slashing more jobs this week, just before the end of the its third quarter, as it continues to work with lenders and labor to stave off collapse.
Sources inside the No. 1 U.S. less-than-truckload (LTL) company said the cuts were substantial and layoffs were being made across many departments.
Company officials would not disclose how many jobs were being eliminated but said "workforce adjustments" were underway.
"YRC Worldwide is making workforce adjustments across the company in response to economic conditions affecting business volumes and to advance the company's movement to a functional organizational structure.
"The company is not providing updated employment numbers at this time, since workforce actions are still in process," YRC officials said in a statement.
#1 LTL CARRIER SEES THE ECONOMY A LOT SCARIER.......IT EMPLOYS OVER 50,000
As we move to a savings economy....we won't consume as much......since most of us work for the consumption economy......at least 50% really won't have much to do in a savings economy....with such excess unemployment....expect wages to crash as more and more chase fewer and fewer jobs.
SEATTLE - Outgoing Mayor Greg Nickels is seeking to cut 310 jobs as a way to help fill a $72 million budget deficit in 2010. The mayor released his final city budget proposal Friday.
The cuts are in addition to 10 day unpaid furloughs by city workers.
As more and more are unemployed, expect Adults to compete for jobs traditionally held by teens.
The Obama administration's economic stimulus program to find jobs for thousands of teenagers this summer couldn't overcome one of the bleakest job markets in more than 60 years that had desperate adults competing for the same kind of work.
What do you think government is going to do now that we have millions of millions of teens and adults unemployed and restless??????????????????????????????????
AS FEWER AND FEWER CAN PAY TAXES....EXPECT GOVERNMENT TO TAKE MORE AND MORE FROM THOSE THAT CAN PAY
State and municipal governments, struggling with sinking revenue, are raising money by levying fees on consumers, slapping local businesses with back taxes and tweaking tax laws in ways that force many businesses to pay more.
That is leading to accusations -- and, in some cases, lawsuits -- that governments are trying to rake in more money without officially raising taxes, sometimes illegally.
http://online.wsj.com/article/SB125392874638642923.html?mod=WSJ_hpp_MIDDLTopStories
When money runs low....stress and anger rises.....stay cool Fools because you never know how low asset values can go!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DETROIT -- On a grassy lot on a quiet block on a graceful boulevard stands the answer to a perplexing question: Why does the typical house in Detroit sell for $7,100?
The brick-and-stucco home at 1626 W. Boston Blvd. has watched almost a century of Detroit's ups and downs, through industrial brilliance and racial discord, economic decline and financial collapse. Its owners have played a part in it all.
If consumers are not consuming, many will be unemployed when the entire economy is dependent on massive numbers of consumers consuming massively.......as the banks cut off credit, incomes will evaporate as sales decline and businesses shut down.....don't you think it about time to restructure as fewer and fewer are able to meet their minimum monthly obligations and defaults and bankruptcies are skyrocketing?
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