Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Posted: Wed Feb 20, 2008 10:38 am Post subject: Re: Let the layoffs begin
Sounds like the remake of a movie from the 1970s or 80s when the first waves of layoffs and changes swept the nation on the back of Japan Inc. and the first oil supply shocks from OPEC. _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
Posted: Wed Feb 20, 2008 10:50 am Post subject: Re: Let the layoffs begin
seahorse2 wrote:
Mr. Bill,
I thought the same about buying property in New Orleans, one of the most important ports in the US. It has and always be a strategic location.
Prince Rupert, BC. A direct rail line from Edmonton, AB to Prince Rupert's deepwater port, and then from there direct to Asia. Only problem is 10-months of rain! ; - ) _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
Joined: Jan 30, 2008 Posts: 55 Location: St. Louis
Posted: Fri Feb 22, 2008 1:04 am Post subject: Re: Let the layoffs begin
Continuing the layoffs...
New Jersey's state government
Substantial layoffs expected as part of cuts in spending
Thursday, February 21, 2008
BY JOE DONOHUE
Star-Ledger Staff
Lawmakers said they are bracing for massive state worker job cuts and even the elimination of state departments as Gov. Jon Corzine prepares a proposed budget that will recommend slicing spending by more than $2 billion.
Lawmakers who have spoken with Corzine or his aides about the budget said they believe he wants to reduce the payroll by 3,000 to 4,000 positions, though the exact mix of layoffs and other job cuts remained unclear. Other options include reductions through attrition or early retirement
Joined: Jan 30, 2008 Posts: 55 Location: St. Louis
Posted: Fri Feb 22, 2008 1:10 am Post subject: Re: Let the layoffs begin
Starbucks will be eliminating jobs, too.
Cuts at Starbucks
By REUTERS
Published: February 22, 2008
Starbucks eliminated 600 jobs Thursday in an effort to refocus its coffee-selling business to reignite growth.
The cuts included 220 layoffs of employees in Seattle who performed a variety of duties from finance to design and marketing, a company spokeswoman, Valerie O’Neil, said. She said the company had also eliminated 380 open positions.
Starbucks is my favorite company that I like to site on this forum. It's the one that anti-globalization activists love to hate most. If you're looking for a "canary in the mineshaft" example then Starbucks does a good job of fitting the bill. Contrary to popular belief on this forum I do NOT think airlines and trucking are good examples of a "canary in the mineshaft". When things go bad it is the unnecessary things in life that we let go first. Transportation is a necessity, boutique coffee is not. Of course our transportation will have to be changed to adapt to a post PO world but that won't happen till at least a decade later.
Posted: Fri Feb 22, 2008 7:27 am Post subject: Re: Let the layoffs begin
I love the Simpson's episode where Bart and his family are walking through the shopping mall and every 'other' store is a Starbucks with some saying, 'coming soon a new Starbucks'. Great stuff!
Did they really think they had a business model that nobody else could copy and continue to grow and grow? Even Limassol has three Starbucks, two Costa Coffees and two Coffee Beaneries, plus numerous no name knock-offs that serve the same clientele!
I wish I was a stock shorter. I think I could enjoy shorting companies like Starbucks or Crocs. Unfortunately, I am usually out of step with fads, so maybe my timing would be far too early! ; - ) _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
Posted: Fri Feb 22, 2008 10:56 am Post subject: Re: Let the layoffs begin
MrBill,
RE: Japan Inc., OPEC
Yeah, It sure feels like "1974, 2.0" around here. The stats don't give the degree of desperation in the auto corps, though. The layoffs that I know about personally are not seniority based, instead, they target the oldest, highest paid workers in an obvious effort to cut costs, fast and furiously. With the excuse of "realigning our workforce", they issue permanent layoffs to those nearest retirement, but not yet eligible for pensions. This cuts off the companies' contributions to those pensions, and according to the terms of most plans, significantly reduces the ultimate payout.
I saw this in 1974, when a lot of older people were left high and dry after 25 to 30 years of service, too young to draw pension or SS, and too old to easily get another job. One man I've known for half his life, was foreman in the toolroom/machine shop of the local high-tech auto partsmaker for 25 years. He was laid off last year, and now runs a grinder in a small shop. His old job is now filled by a CLERK! Predictably, they are having a lot of tool-related quality problems, due to ignorance of the short-timer workforce that's left. The CEO is new, an MBA/Accounting major, who, like most of the sort, has a stockholder mandate to make money THIS QUARTER, and to hell with the future. They have shot themselves in the foot, or worse.
I saw that train wreck coming and went from Engineering to machine shop work several years ago, then started my own shop, making 1/3 or less of my old pay rate. Thankfully, I can stand that, but most cannot.
Posted: Fri Feb 22, 2008 12:37 pm Post subject: Re: Let the layoffs begin
mgibbons19 wrote:
Evansville Indiana got their 3rd Starbucks two years ago. Surely a sign the market is saturated.
There's an office/shopping building in downtown Seattle, WA called "City Centre" on Pike St and 5th Ave that has no joke:
3 Starbucks
Seattle is this strange place where people have benefited disproportionately from cheap energy but oddly enough like to demonize it. In Seattle it's fashionable to call yourself an environmentalist and wish for a world that runs on renewable energy.
quote: "be careful what you ask for -- you might get it"
--------------------------------------------------------
add on:
However it's actually a pretty nice place to live. There's no state income taxes. but to get back on topic here's a layoff tracker for Seattle:
http://seattlepi.nwsource.com/venture/layoff.asp
Posted: Fri Feb 22, 2008 12:57 pm Post subject: Re: Let the layoffs begin
Homer has a handgun today. Sorry, I can only concentrate on one cultural penomenalalal at one time, time, time at a time. If the series ever comes back to today's economy I will be happy to comment. Or maybe Dilbert will give me another insight? Hmm? _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
This division is in Germany and seems to be related to a scandal.
"The communication unit was at the center of the corruption and bribery scandal that has rocked Siemens since 2006, amid allegations that employees used slush funds to bribe clients for orders. Siemens has found ``questionable'' payments of 1.3 billion euros between 2000 and 2006. "
Posted: Wed Feb 27, 2008 10:54 am Post subject: Re: Let the layoffs begin
the DOW continues it's relentless rise as more and more people lose their jobs...
"Feb. 27 (Bloomberg) -- Nortel Networks Corp., North America's largest telephone-equipment maker, announced plans to cut 2,100 jobs after posting a fifth loss in six quarters amid declining sales. The shares fell the most in almost four years."
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