One of the most dreaded words or terms heard in the corporate world is downsizing. Simply put, it usually means several people are about to lose their jobs, at the very least. It can throw entire areas into turmoil, if enough people are put out of work. If it is dreaded in the corporate...
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I doubt there is anyone who may read this article who has not heard about the attempted terrorist attack on Northwest Airlines Flight 253 on Christmas Day. By now, we all know that the system that is supposed to prevent our country from suffering another attack on an airplane completely failed. President Obama himself...
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Heretofore, I have been unable to write about the near disaster that was seen on Northwest Airlines Flight 253 as it circled to land in Detroit, Michigan on Christmas Day. Without trying to rehash all of the details, suffice it to say that Umar Farouk Abdulmutallab tried to ignite an explosive device that was strapped...
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The news from the weekend and then on Monday has been dominated by the announcement by the Obama administration that there would be no more chances for General Motors and Chrysler. I have already raised the question and asked why the Detroit automakers didn’t deserve the same bailouts that have been extended to companies...
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In a move blamed on the failure of General Motors and Chrysler to come up with plans that are acceptable to the Obama administration, the President will announce today that there will be no more money to bailout the two American automakers. This is on top of the news that President Obama has asked...
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Will the bailouts never cease? It seems there is no end in sight for the federal government to stop handing out taxpayer dollars to companies who are in danger of going bankrupt. In plans file with the federal government on Tuesday, General Motors and Chrysler have said they need at least $39 billion to...
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I received word of this yesterday from a FedEx employee, but did not report on it because it had not been released to the general public. The package delivery company, FedEx, has announced it is cutting wages for all salaried employees by 5% and freezing it’s matching contributions to employee 401k plans, beginning February...
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The Bush administration, including Treasury Secretary Henry Paulson, is still in talks with the three automakers from Detroit and the United Auto Workers (UAW), trying to decide just how the Big Three will receive federal help to stay alive. President Bush seems to be convinced the economy can not withstand the effect of the...
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The Associated Press has just announced that the $14 billion bailout plan for Detroit has failed in the Senate. It appears the main culprit of the failure is the United Auto Workers (UAW) and their refusal to allow wage cuts to go into effect until 2011. A $14 billion emergency bailout for U.S. automakers...
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FOX News is reporting that the House of Representatives has just passed a $14 billion bailout plan to help the Big Three automakers stay alive, despite objections from Congressional Republicans, especially those in the Senate. The vote was 237 to 170 but it may be a moot point because the Senate Republicans may resort...
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