When is it too many jobs????
(MarketWatch) -- General Motors Corp., the Detroit auto maker, is preparing to cut thousands of additional white-collar jobs and is mulling whether to sell or close more brands, people familiar with the matter told The Wall Street Journal. GM's stock price is at a half-century low.....
From the WSJ-...open-air retail venues such as big-box centers and grocery-anchored strip centers. Vacancy in those formats climbed from 7.7% to 8.2% in the second quarter, the highest tally since 1995.
As many of you know, I have been documenting job loss announcements for the past four or five months. It appears GM is contracting again, after contracting again and again. So are retailers and a variety of other industries.
If this trend keeps up, at some point we are going to shut down enough business and lay off so many workers there will not be many left to make purchases and pay taxes. For those that are capable of paying, the burden will be enormous.