Mike: Good Tuesday to all.

Mike: The day ended with a bang as Yahoo announced poor earnings and layoffs of up to 700. GM plans to drop 1600 this week and SUN may also purge the system. On a positive note, stimulus funds seem to be getting to the states and that should alleviate some job loss.

 Let’s start the post with a laugh and end it that way too. Till Wednesday…………

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Mike: Below is one of those stories that show the breath of greed that inhabits the executive suites of many corporations. These guys would surely layoff thousands, halt production and file bankruptcy before they would take a cut in pay or reduced bonuses. They truely want their cake and to eat it, too. How else would you explain their demand for taxpayer bialout billions, but only under the condidtion that they be allowed to suck outrageous salaries and bonus millions from those taxpayer goodies! The feds demand and get reduced salaries from the factory workers, but they can’t budge the corproate swine at the money trough to take anything less then they are now making.

What’s likely to happan, you ask? The feds will crumble before the mighty corportate gods and allow the executives to name thier salary, but only on the condition that they layoff thousands more and then move the jobs to Chine, as GM is proposing to do. After all, the campaign coffers need to be filled and those executives know how to fill them. I hope it doesn’t come down to that, but if the banking execs and their continued outsized salaries are any indication, then the Chryler execs will be quite wealthy thanks to the taxpayer’s largess:


chryslerWASHINGTON – Chrysler LLC’s financial arm turned down additional government aid after some top executives refused to accept new limits on executive pay, according to a government official with knowledge of the negotiations.

The official said Monday that the Treasury Department denied Chrysler Financial’s request for more aid because some of its top 25 executives would not waive their rights to legal claims against the government and Chrysler Financial regarding new caps on executive compensation. The official did not want to be identified because the decision has not been made public.

via AP source: Chrysler Financial refuses exec pay cap.


Mike: As I expected, the government will GIVE Chrysler more bailout money without any mention of executive pay limits. Nice gig if you can get it; run your company into the ground and make millions doing so:


– WASHINGTON (Reuters) – The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy, an independent oversight report on the Treasury Department’s corporate rescue fund said on Tuesday.

via U.S. to give Chrysler, GM new aid.

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Dick Locher - Apr 21

Dick Locher - Apr 21



* Larger layoff announcements and important economic reports:


Microsoft/Google/IBM and other Rumors & News


yahoo– SUNNYVALE, California (AP) — Yahoo says its slump worsened in the first quarter as the recession made it more difficult to sell the ads that generate most of its profits.

In releasing results Tuesday, the Sunnyvale-based Internet company says it will cut 600 to 700 jobs, or about 5 percent of its work force, to shore up profits.

via Yahoo to cut 600 to 700 jobs after 1Q results fall – Yahoo! Finance.


sun1– April 20, 2009 (IDG News Service) More layoffs are expected at Sun Microsystems Inc. as a result of Oracle Corp.’s planned $7.4 billion acquisition, with one Wall Street analyst predicting today that as many as 10,000 people could lose their jobs at the Silicon Valley icon.

General Economic News


Mike: I wonder the cost of this common sense survey? You think that cost may be a reason that people postpone health care? Wow, what a revelation!  smileys-3691

– WASHINGTON (Reuters) – Twenty percent of Americans say they have delayed or postponed medical care, mostly doctor visits, and many said cost was the main reason, according to a survey released on Monday.

The Thomson Reuters survey found 21 percent of U.S. adults expected to have difficulty paying for health insurance or healthcare services in the next three months.

via Stressed Americans postpone healthcare.


– US chain store sales fall 0.4 pct last week-ICSC



Marshall Ramsey - Apr 21

Marshall Ramsey - Apr 21


Mike: Maybe these companies realize that the more you spend to lobby our elected representatives, the more money they will give you for bailouts; of course without asking for any executive compensation limits………

– WASHINGTON – The top 10 recipients of the government’s $700 billion financial bailout spent about $9.5 million on federal lobbying during the first three months of the year.

The biggest spender was bailed-out automaker General Motors Corp., which devoted $2.8 million to lobbying in the first quarter of 2009. It has received $13.4 billion in government loans and could get $5 billion more, according to a government report released Tuesday.

via Top bailed-out firms continue lobbying.


Government Layoff News


– EL PASO – Commissioners Court on Monday issued a freeze on hiring for most county jobs for the rest of the 2009 fiscal year.

via El Paso County issues hiring freeze for most jobs – El Paso Times.


– The mayor said city residents should expect cuts in jobs and services but no tax hike.

via www.WHEC.com – Mayor Duffy says expect cuts in jobs, services but no tax hike .


– New London – The Board of Education Finance Committee Monday eliminated six full-time teachers as part of a $980,372 cut to the 2009-10 school budget.

via TheDay.com – NL School Panel Cuts 6 Full-Time Teaching Jobs .


– The job cuts are expected to continue in the next couple of months in other areas of district staff such as paraeducators, tutors, other classified staff and possibly administrators, Koester noted.

via School district to cut 4.5 teacher jobs – TimesRepublican.com | News, Sports, Jobs, Community info – Times Republican.


– The King City Union School District Board of Trustees unanimously voted to lay off three office clerks and reduce the hours of eight food service employees earlier tonight.

via King City Union schools cut clerks, staff hours | thecalifornian.com | The Salinas Californian.


– An estimated 5,500 employees at 120 school districts in the state were recently handed pink slips warning them they may not have jobs next school year, an Arizona Republic survey has found.

About 4,000 of those employees are teachers.

via School districts hand out 5,500 layoff notices.


US and some Canada Layoff News


lexmark– Lexmark International Inc., which provides printing services to businesses, said Tuesday it will cut 360 jobs and close one factory, as first-quarter income fell 42 percent on weak demand.


newspaper1– CHICAGO – A published report says Sun-Times Media Group Inc. trimmed about 140 jobs last week to reduce costs during its bankruptcy reorganization.

via Sun-Times cuts 140 jobs –– chicagotribune.com.


– Mauldin-based Mt. Vernon Mills said Monday it is closing its Williamston plant in 60 days, affecting 140 employees.

“There’s a lot of people being affected by this,” said Gary Williams, the company’s vice president of human resources.

via Mt. Vernon Mills plant closure to cost 140 jobs | GreenvilleOnline.com | The Greenville News.


delta– Northwest Airlines will begin fading from view early next month at Mobile Regional Airport, as Pinnacle Airlines Corp. stops providing ground services for its three daily Northwest Airlink round trips to Memphis.


– A-Boy Supply Co. Inc., a chain of Portland hardware stores for nearly 50 years, will close four of its six remaining locations on June 25.

via News highlights – OregonLive.com.


nordstrom– CEDAR RAPIDS — Nordstrom Direct told employees Monday that it will lay off 62 employees at its Cedar Rapids fulfillment center and 10 at its Seattle contact center.

via Downturn claims 62 jobs at Nordstrom Direct | GazetteOnline.com – Cedar Rapids, Iowa City.


– The Division of Campus Services eliminated 47 positions as a part of its response to the $2.5 million decrease in the University’s facilities and campus services budgets, effective last Friday.

via Campus Services Eliminates 47 Jobs | The Emory Wheel.


georgia-pacific– Plattsburgh Mill General Manager Kirk Stallsmith said Monday that the layoffs will happen as older, narrow-sheet bath-tissue manufacturing lines are shut down.

via The Press Republican – Article: Georgia-Pacific to lay off 39 hourly workers.


– Early Monday morning, ERMCO announced an upcoming reduction in its workforce affecting approximately 90 people.

via Dyersburg State Gazette: Story: ERMCO announces lay off of nearly 90.


– LANCASTER – Diamond Power plans to lay off 20 people, the company announced Monday. The layoffs take effect immediately.

via Diamond Power lays off 20 people | lancastereaglegazette.com | Lancaster Eagle Gazette.


– SPRINGFIELD – MassMutual Financial Group laid off 53 sales people Monday from its retirement income business, one week after laying off 65 workers.

via MassMutual layoff affects 53 in sales – MassLive.com.


– Spokesperson Kathy Budinick said on Monday that they eliminated 39 positions last week in both the Columbia Falls and Evergreen plants. A variety of different positions were cut, including 24 salaried and 15 hourly employees.


– Faced with lower enrollment projections and decreased donations, Lincoln Christian School administrators have laid off the equivalent of six teachers plus other staff members.

via JournalStar.com – Lincoln, Nebraska – News – Local.


– CARLINVILLE — The Curry Companies, a cement and trucking firm in Carlinville, has cut its work force as a result of the construction slowdown, but company owner Jim Curry said Monday he hopes to recall some employees once the economy picks up.

via Curry Companies lays off workers – Springfield, IL – The State Journal-Register.


– It’s cutting four full-time and three part-time workers and delaying part of a renovation project.

via Indiana Historical Society cuts staff – WTHR | Indianapolis.


– The Victoria A Channel has cut 18 jobs and cancelled its morning show as part of a restructuring by parent company CTV as it faces anticipated losses of $100 million this year.

via A-Channel cuts staff, cancels show .


american-greetings– The Brooklyn-based company also cut 40-some jobs from its Carlton Cards division at company headquarters.

via American Greetings cuts 40 workers from Carlton Cards division in Brooklyn – .


– HOUSTON: Facing declines in income and revenue, oilfield services company BJ Services had reduced its global work force by around 11 percent.

via Offshore Oil & Gas News: BJ Services cuts jobs, costs as income drops.


– UMBC’s Erickson School of Aging Studies laid off nine of its eleven staff members and two out of six full-time faculty members on Monday, April 13, due to a lack of program funding.

via The Retriever Weekly.


– The Marshall University Foundation has laid off four employees and kept a fifth position vacant as it struggles with declining investment returns brought on by the recession.

via The Charleston Gazette – West Virginia News and Sports – AP Featured News – Marshall foundation lays off 4 as income drops .


port-of-tacoma– The Port of Tacoma plans layoffs as the organization attempts to recalibrate its staff to match its shrinking business.

Port Executive Director Tim Farrell said Monday he didn’t have a timeline for the staff cuts or a number of positions the port would eliminate. He did say that the cuts would be done in the second quarter.

via With profits down, Port of Tacoma plans layoffs | The News Tribune – Local | Seattle-Tacoma News, Weather, Sports, Jobs, Homes and Cars | South Puget Sound’s Destination.


– BOSTON — MBTA General Manager Daniel Grabauskas is ordering a cap on salaries, instituting mandatory furloughs and laying off 75 employees as the transit agency labors under mounting debt.

via MBTA chief announces layoffs, furloughs, no raises – BostonHerald.com.


– University of Central Florida President John Hitt warns that hundreds of faculty and staff jobs could be lost and academic programs could be closed if state budget cuts are anywhere near the $57 million called for in the House version of the state budget.

via University of Central Florida president says jobs may be lost — OrlandoSentinel.com.


– Mystic Seaport announced this afternoon that it has laid off 18 full-time employees or 11 percent of its workforce.

via TheDay.com – Seaport lays off 18 full-time employees .


oshkosh-bgosh– Oshkosh B’gosh’s parent company confirms about 100 jobs at the Otter Street headquarters will be relocated or eliminated by the end of this year.

via Oshkosh B’Gosh Removing 100 Jobs from Oshkosh – WBAY-TV Green Bay-Fox Cities-Northeast Wisconsin News: .


– These cost-cutting measures include 85 employee and contractor jobs cut, reductions in some executive salaries, cancellation of most current open positions, mandatory shut-down days, reduction in company contributions to employee 401(k) plans, cuts in discretionary spending and reduction in leased office space.

via Cognex cuts 85 jobs, lowers salaries, shutters job openings – Mass High Tech Business News.


– FITCHBURG —  Munksjo Decor is ceasing its manufacturing operations at 642 River St. in June, eliminating about 120 jobs, the company president and chief executive officer said today.

via telegram.com News.


invista– MAITLAND — Two hundred and forty people at Invista’s local plant will lose their jobs by the end of the year, shrinking the facility’s workforce by nearly two thirds, as the company sheds its nylon intermediates production amid the global recession.



International Layoff News



– Vauxhall’s 5,000 UK employees are waiting to learn if they will keep their jobs as it emerged last night that General Motors (GM), the American parent company, was prepared to sell the business at a knockdown price.

via Vauxhall’s 5,000 UK jobs at risk in GM sale deal – Times Online .


Mike: While detaining corporate heads that inflict pain on their workers seems a little extreme to some, I admire how the French take to the streets to protest job losses at the hands of these corporate kings. As with the Chrysler article at the top of this post, the corporate executives chop the workforce to the bone, but they won’t sacrifice pay, bonuses or golden parachutes to see workers or their companies survive

– TOULOUSE, France, April 21 (Reuters) – Factory staff in southwestern France detained two managers on Tuesday to protest against their site’s closure in the latest incident of workers locking up their bosses.


– Seventy jobs cuts and a possible move to a nine-day fortnight are being proposed by Fairfax Media as it continues to slim down its New Zealand operations.

via Fairfax Media to slash 70 jobs – Employment – NZ Herald News.


– Financial services giant AXA Asia Pacific detailed plans to cut as many as 120 staff as part of efforts to rein in costs as the meltdown in global markets continue to hammer the wealth management industry.

via AXA Australia to slash 120 jobs.


– ONE of Scotland’s leading architectural practices is set to shed dozens of jobs at its offices in Edinburgh and Glasgow.

RMJM, the firm which helped design the Scottish Parliament building at Holyrood, has also asked its 1,000-strong workforce around the world to take a 10 per cent pay cut

via Jobs axed and pay cut 10% at Holyrood architect firm – Scotsman.com News .


pacific-brands– Seven Pacific Brands staff in Palmerston North have lost their jobs as the company prepares for a possible sale.

via Pacific Brands cuts 7 jobs | Stuff.co.nz.


– One of Dublin’s top hotels is seeking to cut 32 jobs as part of a voluntary redundancy programme.

via Dublin’s Conrad Hotel to lay off 32 staff – Business, Ireland – Belfasttelegraph.co.uk.


hsbc-HONG KONG: Global banking giant HSBC said on Tuesday it had laid off 100 private bankers in Hong Kong as demand for their services has shrunk amid the economic downturn.


Hiring News and News You Can Use



Mike: If every state followed this move by Wisconsin, those looking for stimulus related work would have one-stop shopping. It’s also a great way to keep track of which companies are getting what money:

– All job postings tied to Wisconsin projects paid for with federal stimulus money will be posted on the same state Web site.

Gov. Jim Doyle announced Monday he has signed an executive order requiring all contractors and subcontractors involved with those projects to post job openings on http://www.jobcenterofwisconsin.com.

via Web site to list all stimulus-related job postings – BusinessWeek.


– TAMPA – A Tampa manufacturing facility expects to create about 200 jobs, starting later this year, as part of a planned $16.5 million expansion.

via Casting facility to add 200 jobs.


– Boral Bricks Inc. is rehiring 33 employees at its manufacturing plant at 1630 Arthern Road.

via Boral Bricks to reopen; 33 get jobs back 042109 – The Augusta Chronicle.


– Using Facebook, Twitter and other social-networking sites to tell your family and friends you’ve been laid off is healthy, useful and a good idea, according to corporate psychologist Michael Mantell and etiquette expert Peter Post. But choose your words carefully. If you see an update from one of your friends that he or she has been laid off, be sure to respond in a way that is helpful. Here are some tips.

via Laid off? Watch your words online — OrlandoSentinel.com.


– The South Carolina State Ports Authority (SCSPA) Board of Directors today advanced the development of a 280-acre container terminal at the former Navy Base by awarding a $55-million construction project to a local firm. The project is estimated to support almost 720 local jobs and provide a $78.4-million impact to the Charleston metro region.

via Charleston Port Project to create 720 jobs, bring $78 million to lowcountry | WCBD.


strip– Dallas strip clubs said their clubs are filled with customers and job seekers. Craft said his clubs have been inundated with laid-off workers who never dreamed they’d work in the adult entertainment industry.

“In the past year, we’ve seen our applicant pool probably double,” said Steve Craft, vice-president of Burch Management which owns at least five strip clubs in Dallas.

Because of the influx of applicants, Cabaret Royale will host a job fair on Wednesday.

via Strip Club Holds Job Fair | NBC Dallas-Fort Worth .


– Construction of Whitfield County’s newest high school is expected to create 400 to 500 new jobs — more than half of them local — over two years, officials said.


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Mike: The day ended with a bang as Yahoo announced poor earnings and layoffs of up to 700. GM plans to drop 1600 this week and SUN may also purge the system. On a positive note, stimulus funds seem to be getting to the states and that should alleviate some job loss. Till Wednesday.………..


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Ted Rall - Apr 21

Ted Rall - Apr 21



One Comment to “April 21 – Chrysler refuses additonal baillout billions if executive pay limits are attached – Oracle to axe 10,000? – Lexmark to cut 360 – Yahoo to cut 600 – 700 jobs”

  1. Your blog is very interresting for me, i will come back here..

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