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alstry (34.92)

Concentric Contraction.....Here Comes The Action

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January 14, 2010 – Comments (10)

When Benny The B and Timmy The G only bail out the banks, cut off credit to the private economy, raise interest rates for borrowers and lower interest rates for savers, and permit the outstanding debt to suffocate the nations cashflow.....eventually practically everything shuts down.....PRACTICALLY EVERYTHING.....this is not a guess, simply the mathematical consequences of Zombulation.

NEW YORK (Reuters) - New York's Metropolitan Transportation Authority carried 75 million fewer riders in the first 10 months of 2009 as employers cut jobs, costing the agency over $100 million of revenue, a report said Thursday.

"People don't commute when they're unemployed," said state Comptroller Thomas DiNapoli in his report.

People can't do much when they are unemployed......LAST YEAR, COUNTING INDEPENDENT CONTRACTORS, OVER 25,000,000 AMERICANS LOST THEIR JOBS....millions more suffered material income declines.......

THIS YEAR IS LIKELY TO BE A LOT WORSE........COMPOUNDING A TERRIBLE LAST YEAR.

If you continue to think it can't happen to you......you ain't thinkin.......the money is running out, faster than you think.

Vision Care Holdings - Chapter 11

Bernie's Electronic/Appliance Chain - Chapter 11

Price Busters - Chapter 11

Protective Products of America - Chapter 11 

The Las Vegas Monorail - Chapter 11 Bankruptcy

Morris Publishing to File Bankruptcy

 

10 Comments – Post Your Own

#1) On January 14, 2010 at 5:59 PM, alstry (34.92) wrote:

THINGS HAVE GOTTEN SO BAD, NOTHING WILL STOP THE ZOMBULATOR UNLESS WE RESTRUCTURE........

Bernie's, the 15-store electronics and appliance chain based in Enfield founded in 1947, filed Chapter 11 bankruptcy today.

Bernie's has nine stores in Connecticut, five in
Massachusetts and one in Rhode Island.

A person familiar with the situation said the company had been negotiating with its lender, Citizens Bank, for about the past month over about $2 million in unsecured loans. The source said the Bernie's financial woes became critical as a result of being "crushed" on both the expense and credit ends of its business.

MANY FINANCIAL WOES ARE NOW CRITICAL AFTER 1.01.10.....IT IS NOT THE END OF THE WORLD, JUST THE WAY IT IS

 

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#2) On January 14, 2010 at 6:14 PM, alstry (34.92) wrote:

The bankruptcies keep pouring in as the recovery continues......

The parent company of Price Busters, one of the most successful Hawaii retail startups of the past decade, has filed for bankruptcy.

Pearl City-based ERT Sales of Hawaii Inc., which does business as Price Busters, The Seasonal Stores and Let’s Party Hawaii, filed for Chapter 11 bankruptcy Tuesday in U.S. Bankruptcy Court in Honolulu.

The company, which has about 300 employees, estimated its assets at between $1 million and $10 million and estimated the same amount for its debts.

AND THEY KEEP ON COMING AS THE RECESSION IS OVER!!!!!!!

Vision Care Holdings, operator of 60 vision care outlets and Lasik surgery clinics, filed for Chapter 11 bankruptcy protection Thursday.

The Lake Worth-based company said it has between $50 million and $100 million in debt, and less than $10 million in assets.

The company’s Web site says it owns, operates and is affiliated with more than 90 optical service stores in 30 states, including Vision Care, Eyeglass World and Lasik Institute locations.

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#3) On January 14, 2010 at 6:16 PM, alstry (34.92) wrote:

OBAMA BETTER HURRY.........

Obama tells lawmakers US economy is on the mend
 

President Barack Obama says the U.S. economy is on the mend and that his administration's focus over the coming months will be on creating more jobs. Obama says that as a result, America is moving forward again, there is economic growth, and job losses have slowed. The president says too many people remain unemployed and that some are angry and anxious. To address that, he says there will be a "sustained and relentless focus" in the coming months on creating jobs....

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#4) On January 14, 2010 at 6:28 PM, alstry (34.92) wrote:

If we have any more growth.....soon no one will be working....

More layoffs in the news, but this time they're not megamerger-related. The company: Hospira. The number: 1,400 to 1,500 workers, or 10 percent of its workforce. That's the bad news. The good news: The company will save $110 million to $140 million a year by 2011, and two-thirds of the laid-off employees have already been notified.

Dallas-based Affiliated Computer Services Inc. will terminate 220 jobs in Minnesota at the end of January.

The company informed the city of Eden Prairie in early December through a Worker Adjustment & Retraining Notification (WARN) Act letter that, due to a lack of workload

 

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