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alstry (35.88)

LESS SPENDING....MORE CONTRACTION!!!!

Recs

13

October 22, 2009 – Comments (2)

From Am Ex's release today:

Total revenue fell 16% to $6.0 billion, but consolidated expenses declined 17% to $3.9 billion as the company trimmed jobs, marketing, and rewards costs.

Total card spending fell 11% in the United States from the third quarter of 2008.

Americans continuing to spend less....that means it is impossible that the recession is over since consumers represent the majority of spending in the economy.  Further, we have a massive contraction in spending despite America's thirst to be a welfare society and government's multi trillion dollar and growing deficit.....all disguised under the tranparent vail of stimulous programs.

Pretty soon we will be cut off from unlimited borrowing.....you can only borrow when those lending to you think you can pay back......and when that happens, things will get very interesting....especially for welfare dependent banana eating primates.

Until we restructure...stay tuned for more reports like the following...I am sure all of these people will be lining up to buy new houses next week:

Standard Chartered Bank - 72

DHL Express ( International ) - Expected 400 Layoffs

Delta Airlines - More Job Cuts Coming

City of Fresno - Layoffs Coming?

Conde Nast - Total 180 Layoffs?

Bombardier ( International ) - Possible Job Cuts Next Year

City of Oceanside - 40

Workforce Solutions East Texas  - 50

NCR Corporation - 2,200

City of Kalamazoo - 17

International Paper - 1,600

Orland Park - Layoffs Coming

The Land Registry ( International ) - 1,100 Possible

Robert Wood Johnson Hospital - 19

Valley Oaks Child Services - 7

Idol Minds Game Company - 1/2 Its Staff or About 25+

Forum Health Inc - 52

Update: Iowa Department of Correction - 515?

Satyam ( International ) - 5,000

Veteran LA School Teachers Losing Work

Modline Manufacturing Closing Harrodsburg Kentucky Plant

Betty's Ann Clothing Store 

The Evansville Fire Department Closes 2 Stations

Diageo Closing Dorval Quebec Bottling Plant 

Fuccillo Car Dealership Closing 2 Stores in Latham

The Blue Ribbon Downs Closing at End of Racing Season 

The Nautilus Plant in Grayson County - Possibly Closing?

Ann Horwitz Jewelers 

XLR8 and Hypnoses Boutique (Florida Mall) Closing

International Paper Closing 3 Plants

Expedia Inc to Close Tacoma Call Center

BASF closing Beligium Maleic Anhydride Plant

Suzuki of Plymouth Meeting Dealership

MT. Lebannon's Washington Road Post Office - Possible Closure

Dragon's Horde Bookstore in Danville

NewPage Plans to Idle Whiting Plant #63 Paper Machine- 75 to 100  Layoffs 

Alligator Alley Music Venue 

Jail House Restaurant in Oswego 

2 Comments – Post Your Own

#1) On October 23, 2009 at 1:43 PM, Lord25 (< 20) wrote:

Great list, I can't believe you spend all this time finding theses links. A+++

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#2) On October 23, 2009 at 2:13 PM, jddubya (< 20) wrote:

Lord25 -

He doesn't spend time finding these links, he goes here:

http://www.dailyjobcuts.com/

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