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alstry (35.47)

DUCK!!!!!!!!!

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January 15, 2009 – Comments (2)

MeadWestvaco to cut 10% of its global workforce (2000 workers)

Ecolab.....1000

Delta.....2000

Autodesk Inc. to cut 750 jobs, miss earnings target (10% workforce)

Chemical, Technology, Publishing, Airline, Autos, Manufacturing, Healthcare, Construction.....no industry is immune anymore.....company after company is shedding 10% of its workforces or more....

That pretty much locks in a 17% unemployment rate in the not too distant future....how many more foreclosures do you think that will bring??????  What about financial pressure on government.

We are rapidly spiraling downward right now.....hang on and keep your spirits up!!!!!

And for those of you that think that this is posting the same thing over and over, it is not, these are new companies not mentioned yesterday or the day before,.....it just shows you how drunk you are with the news......you are seeing double!!!!!

May I suggest a Manhatten.....and heck it ain't even 9:00AM here yet.

 

2 Comments – Post Your Own

#1) On January 15, 2009 at 10:46 AM, amassafortune (29.46) wrote:

I believe there will be a double-digit unemployment rate, but 17% nationwide is too high. It may already be at that level in Detroit, but some areas of the country have not experienced many job losses. New 52-week lows in the major indexes will happen within a week. I added hedge positions to avoid taking the hit. 

For oil to drop today with extreme cold in many parts of the U.S. this morning, expected demand must be extremely weak.  

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