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alstry (35.61)

PREPARE!!!!! Millions of NEW Job Cuts on the Way!!!!!!!!!!!!!!!!!!!!!!!!!!

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May 14, 2009 – Comments (9)

May 14 (Bloomberg) -- California Governor Arnold Schwarzenegger proposed the state seek a $6 billion loan from Wall Street and called for deep cuts in education and welfare program to help erase a resurgent $15 billion deficit.

Schwarzenegger’s proposal includes plans to fire 5,000 state employees, mostly prison workers and from health and human services agencies. The state employs about 200,000 people.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aacpvG_NN6vE&refer=home

CA's Deficit is growing EVERY month....

Today, the Mayor of LA warned of Thousands of Job cuts!!!!!!!!!!!!!!!!!

With Los Angeles facing a $529-million budget deficit, Mayor Antonio Villaraigosa on Tuesday urged the City Council to declare a fiscal emergency that would grant him the authority to lay off and furlough thousands of city workers.

http://www.latimes.com/news/local/la-me-villaraigosa13-2009may13,0,5928252.story

Valejo is bankrupt....thousands of other cities in CA alone are in a fiscal crisis.  And it is not just CA or cities in CA.....the FU virus is spreading across the nation and now infecting government and health care....including hospitals!!!!!!

The bleeding continues at Twin Cities hospitals.

Hennepin County Medical Center said Wednesday it will eliminate 75 to 100 jobs by the end of June to save money, its second round of layoffs since January.

The Minneapolis hospital will also delay buying a piece of property in downtown for a new outpatient care building.

http://www.startribune.com/local/44907977.html?elr=KArksUUUU


NOT JUST HOSPITALS...

Minnesota's hospitals, nursing homes and community clinics -- already reeling from the worst recession in nearly three decades -- are bracing for a new round of cuts from the state's biggest single purchaser of health care: state government.

As legislators and Gov. Tim Pawlenty struggle to close a $4.6 billion deficit in the state budget, they are looking to trim between $400 million and $1.8 billion from projected state payments to hospitals, health plans, nursing homes and other providers.

With just a week left in the legislative session, the size of the cut was still in play as budget deliberations continued over the weekend. But with health and human services accounting for about 27 percent of the state budget -- second only to K-12 education -- no one doubts that excruciating cuts are in store.

http://www.startribune.com/politics/state/44646512.html?elr=KArksUUUU

Imagine the above playing out in practically every city, county and state in America affecting Health Care, Education, Police, Fire and countless other areas.......

We likely looking at millions and millions of job cuts in the upcoming months.......and this is only from the government sector......

We have seen a number of NEW private companies announcing layoffs in the past few days.

Prepare.....as the above article states.....

NO ONE DOUBTS THAT EXCRUCIATING CUTS ARE IN STORE.....and let Alstry add........ALL ACROSS AMERICA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Remember....if nothing else.....Alstry provides you a heads up with what few are willing to discuss.

 

9 Comments – Post Your Own

#1) On May 14, 2009 at 7:19 PM, alstry (35.61) wrote:

MILLIONS OF HOMES TO FLOOD MARKET?????

The initiatives announced Thursday are aimed at ineligible homeowners: borrowers who are unemployed or owe significantly more than their homes are worth.

Generally, there are two options for them to avoid foreclosure. The homeowner can sign the property title over to the lender in what is known as a deed in lieu of foreclosure. Or, with the lender's permission, the homeowner can sell the property for less than the value of the loan a so-called "short sale."

http://finance.yahoo.com/news/Govt-expands-housing-plan-off-apf-15249843.html?sec=topStories&pos=1&asset=&ccode=

Think about it....you owe more than your house is worth or you are unemployed and can't make payments.  All you have to do is give the keys back to the bank, leave the house.....and all is fine.

Between unemployed homeowners and underwater mortgages.....we could potentially be looking at over 20 million homes.....20% of the housing stock being handed back t banks.

Imagine what that is going to do to home values????

Let's see how many CAPs players have a pulse???

 

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#2) On May 14, 2009 at 7:19 PM, awallejr (83.78) wrote:

I just helped a client create a dozen jobs today (local medical center).  I am trying to do my part at least.

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#3) On May 14, 2009 at 7:24 PM, alstry (35.61) wrote:

FREE BONERS FOR THE JOBLESS!!!!!!!

Pfizer Inc. said Thursday it will give away more than 70 of its most widely prescribed drugs, including Lipitor and Viagra, for up to a year to people who have lost jobs since Jan. 1 and have been taking the drug for three months or more. The announcement comes as the unemployment rate topped 8.9 percent in April.

I guess it is true...the best things in life are FREE.

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#4) On May 14, 2009 at 7:31 PM, rags2riches247 (78.46) wrote:

Free boners for the apocalypse doomsday girth megablast boomstick extravagant transpermial spermatazoadon!

http://www.youtube.com/watch?v=X1TBCGkDbNk

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#5) On May 14, 2009 at 7:45 PM, theMovement (86.09) wrote:

Job loss is a lagging indicator.  Just because people are getting laid off right now does not mean that we are on the way out of the recession.  In the long run the layoffs at many companies are good because they can turn companies into lean mean profit making machines.  Companies can execute these layoffs and just say it's because the economy sucks and noone gets upset with them as opposed to when times are good and a company wants to get lean and lays people off, then people think they are cruel and heartless.  This is a great opportunity for businesses to get rid of excess and streamline things to prepare the company to maximize its profits when things are better. 

Now California....... that state is a whole other story, they are a financial mess and not a reflection of most of the rest of the country.  

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#6) On May 14, 2009 at 8:04 PM, alstry (35.61) wrote:

If one company lays of few off....it drives efficiency.

If every company lays a bunch off.....it drives a DEPRESSION.

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#7) On May 14, 2009 at 8:16 PM, starbucks4ever (98.32) wrote:

The governator has given away the state revenue to the richest homeowners with Prop. 13, and now he wonders why the treasury is empty. I can give you a hint: if I donate half of my salary to Donald Trump, I will also quite likely find myself in a financial embarassment. A second hint: arithmetics is a universal science, meaning that its rules, for instance, the rule of subtraction, works everywhere in the world, even in California :)

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#8) On May 14, 2009 at 8:43 PM, MarketBottom (29.21) wrote:

Here is a link to the current state budget deficit information

http://www.cbpp.org/cms/?fa=view&id=711

3 out 50 don't have a problem YET

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#9) On May 14, 2009 at 9:25 PM, imobillc (< 20) wrote:

I have a pulse.... I like you Alstry.... 

You pretty straight forward.

Mars 

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