Use access key #2 to skip to page content.

alstry (36.32)

MILLIONS OF JOBS IN 60 DAYS.....

Recs

13

November 11, 2009 – Comments (4)

As we approach the end of the year.....thousands and thousands of small businesses are realizing they simply can't make it financially anymore.  In addition, thousands more are making massive cuts to labor forces.  10-15% of total workforce cuts will be routine.....20-25% will not be uncommon.

We will see these HUGE cuts despite the fact we already have a 20% pre Clinton unemployment rate.  The burden and tax loss to government will be significant.....the financial stress will be very evident(such as massive tax increases and agressive tax collection policies) as previous cuts will need to be supplemented with more cuts as we enter the GOVERNMENT CRASH.....

TEMECULA, Calif. — Outdoor Channel Holdings Inc. said Wednesday that it's laying off a quarter of employees at recently acquired Winnercomm Inc. because the economic downturn has hurt business.

Many businesses will get rid of ALL the employees.

JANESVILLE — Sanford Business-to-Business has notified the state it will start closing its Janesville operations in January in a move that will ultimately put 140 people out of work.

A bankruptcy filing by Dawson Marine should be finalized by this afternoon and all stores will close permanently, according to employees at both the Jasper and Beaumont stores.

CLEVELAND, Ohio -- Ink and toner retailer InkStop Inc. has filed for Chapter 7 bankruptcy, saying the cash-strapped company owes too much money to reopen and will instead liquidate its assets and close for good.   InkStop laid off 456 employees on Oct. 1, telling them it hadn't paid their health care premiums for the past month and didn't have the money to issue their final paychecks.

When all the customers that required borrowing to spend are no longer allowed to borrow....pretty soon many will realize that they are not many customers left....and without customers, we don't have much of a consumer economy left.

4 Comments – Post Your Own

#1) On November 11, 2009 at 11:49 PM, alstry (36.32) wrote:

NO CREDIT.....FEW CUSTOMERS.....NO TAXES...GOVERNMENT CRASHES....ECONOMY ASHES 

Hansel RV in Petaluma is closing after 35 years in business, the latest victim of an economic slump that has consumers shunning big-ticket toys.

The dealership, which employs 18 people, hopes to liquidate inventory by the end of the month, said Henry Hansel, owner of the Hansel Auto Group, the county’s largest car dealer.

“It’s just been very, very challenging and we just sort of came to the conclusion that it’s going to be quite some time before the market returns to a level where it can be profitable,” Hansel said Wednesday.

During the boom times of the late 1990s through mid-2000s when home values surged and credit flowed freely, the dealership was selling 60 to 70 RVs a month, Hansel said.

But as the housing market tanked and gas prices rose, consumers dramatically pulled back on their spending and RV sales tumbled.

“The high-dollar discretionary items such as RVs really took a big hit,” Hansel said.

The liquidation sale is the latest in a string of RV dealership closures in Sonoma County. Dan Gamel RV Center shuttered in February 2008 and Santa Rosa RV Center follow suit over the summer.

Hansel is the last of the large RV dealers in the county to pull the plug.

“My hope was kind of that being the last guys standing, so to speak, maybe that would propel us through this,” Hansel said.

But that hasn’t happened. Even though economists believe the recession has ended nationwide, there are few signs that consumers’ appetites for $200,000 motorhomes are going to return anytime soon.

“It could be a very long time,” Hansel said.

Report this comment
#2) On November 12, 2009 at 8:28 AM, OneLegged (< 20) wrote:

Check the unemployment numbers that may be involved here.  It is is even half of this it's not good.

 

http://finance.yahoo.com/news/Ten-most-troubled-states-in-cnnm-2889165804.html?x=0&.v=7 

Report this comment
#3) On November 12, 2009 at 9:42 AM, alstry (36.32) wrote:

It is amazing...we are losing over 500,000 jobs per week and few are hiring.

What is even more disturbing is many of the job losses are higher paying jobs vs. lower paying hires.

Starting now we are really going to see the impact to city, county and states.

 

Report this comment
#4) On November 12, 2009 at 10:02 AM, alasker (< 20) wrote:

I was just re-reading some of the thinkings of a former president Jefferson. I am gaining greated appreciation for Washington, Jefferson & Truman all of whom had to make a lot of really hard choices. Jefferson had a lot of flaws- especially with his treatment of native peoples and women. But he had some good points about the nature of government, our courts, liberty, fighting the first barbary war, banks & bankers, not having debts that last longer than 19 years to burden the next generation and the USA being a nation of small farming families. I guess the equivelant today would be small businesses compared to the hamiltonian view of centralized banking and urbanization.

i only say the above because we have become a society where we now instinctively expect our government to use money generated by our labor to solve our problems through increased beauracracy or outright theft.

Report this comment

Featured Broker Partners


Advertisement