Miscellaneous
20,000 California State Jobs At Risk
February 16, 2009
Tweet Twenty-thousand layoff notices will go out on Tuesday morning Such was the word from the Governor’s spokesperson as the California state legislature and governor try to close a massive budget deficit in the state. In addition to these potential cuts, the state has halted public works projects and has began furloughing state employees. Kansas [...]
Read More >>Frontline Special To Air Tomorrow: Inside The Meltdown
February 16, 2009
Tweet A PBS Frontline special called “Inside the Meltdown” is set to air on February 17th. According to PBS description, The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry Paulson and Federal [...]
Read More >>JP Morgan and Citibank to Halt New Foreclosures
February 13, 2009
Tweet JP Morgan (JPM: 53.63 +1.15%) and Citibank (C: 51.00 -1.28%) both announced that they will halt new foreclosures for owner-occupied homes until around the first week of March as the government works on a bailout plan to help homeowners. Unfortunately, Countrywide already tried this back in mid-2008. What happened was that there was a [...]
Read More >>Network Appliance Cutting 500 Jobs
February 12, 2009
Tweet Sunnyvale-based Network Appliance (NTAP: 37.28 +1.77%) announced that it will be cutting 500 jobs globally. The cuts represent 6% of its workforce. The company is still profitable, and has a significant presence in Sunnyvale, where it controls some 740,000 square feet. In addition, the company controls other properties in the vicinity, in which it [...]
Read More >>4 More Bay Area Dealerships Close
February 12, 2009
Tweet Four more dealerships have abruptly closed amidst the current economic downturn. The mercury news is reporting that Pontiac Buick GMC dealerships in San Jose, Dublin, Newark, and Colma have closed their doors. The four dealerships were owned by the dealership group led by Ken Okenquist.
Read More >>Commercial Real Estate REO Broker’s Association Scam
February 12, 2009
Tweet Chris at retailchatr has a post on an individual named Ray McLaine running around hitting up brokers and other industry professionals for inclusion into a commercial real estate REO association. Sounds like an interesting theory at first, but the way this guy is going about it and the dubious impression he’s left on other [...]
Read More >>Dr. Doom on CNBC
February 9, 2009
Tweet Nouriel Roubini, aka as Dr. Doom on CNBC discussing the economy. Nouriel was laughed at in the past for predicting much of what is happening now. He’s on with Nassim Taleb, author of the The Black Swan.
Read More >>Mortgage Modification Talk Swirling
February 6, 2009
Tweet The new Treasury Secretary Tim Geithner is set to hold a press conference on Monday to discuss his new plan for helping the economy get back on its feet. It’s not clear exactly what will be proposed, but one of the latest efforts which is being talked about is the government using some $100-150B, [...]
Read More >>Cisco Systems “Realigns” 2000-3000 Employees
February 5, 2009
Tweet Cisco Systems (CSCO: 23.34 -2.79%) announced that it is eliminating 1500-2000 jobs on its earnings call, but they weren’t referred to as being “layoffs”, but instead a realignment. Call it what you will, but those are jobs which will be eliminated in the coming months. These are in addition to 1,000 positions already eliminated. [...]
Read More >>Growth of Target, Visualized
February 2, 2009
Tweet We previously wrote a post on a map showing the growth of Walmart. The same developer of that map has now put one together showing Target’s growth. You can check it out on the developer’s website. Spotted at the TrafficCourt blog
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