Stocks cuts gains as Chrysler bankruptcy looms | Reuters

Thu Apr 30, 2009 12:16pm EDT
NEW YORK (Reuters) - Stocks pared gains on Thursday after an Obama
administration official said beleaguered U.S. automaker Chrysler LLC
will file for bankruptcy protection in New York "almost immediately."
http://www.reuters.com/article/businessNews/idUSTRE53J1T120090430

Textron to reduce global work force by 20 pct - Yahoo! Finance

Textron to reduce global work force by 20 pct

Donna Borak, AP Business Writer
On Wednesday April 29, 2009, 10:43 am EDT

WASHINGTON (AP) -- A day after Textron Inc. reported a 63-percent drop in earnings, the company says it will expand job cuts, eliminating 8,300 jobs, or 20 percent, of its global work force as the recession continues to weaken demand for corporate planes.
http://finance.yahoo.com/news/Textron-to-reduce-global-work-apf-15069083.html

Four banks shuttered as credit crunch shakes out - MarketWatch

Four banks closed by regulators as credit crunch shakes out

By John Letzing, MarketWatch

Last update: 8:56 p.m. EDT April 24, 2009

SAN FRANCISCO (MarketWatch) -- Four banks in Georgia, Michigan, California and Idaho were closed by regulators Friday, costing the Federal Deposit Insurance Corp.'s deposit insurance fund nearly $700 million as the effects of the credit crisis continued rippling throughout the U.S. economy.

http://www.marketwatch.com/news/story/story.aspx?guid=%7B982438DE%2D54E6%2D4F2E%2D84FF%2DFA3F1556A589%7D&siteid=YAHOOB

GM to cut 21,000 US factory jobs, shed Pontiac

Tom Krisher and Kimberly S. Johnson, AP Auto Writers
On Monday April 27, 2009, 11:11 am EDT
DETROIT (AP) -- General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take more than half its stock in exchange for half of GM's government debt as part of a major restructuring that would leave current shareholders holding just 1 percent of the company.

TIME TO BUY STOCKS?

High chattering level of the following in the news during the past couple of weeks....

1. Huge employment LAYOFFS,

2. Increased in number of BANKRUPTCIES and now followed by

3. High profile and increased in SUICIDES.

This happen all the times during the past major 'bust' or 'down' cycles. And it will repeat again and again every 12 to 14 years cycle... just human psychology.

It's about time to GET INTO THE MARKET NOW if your investment horizon is for the next 3 to 5 years and if you are prepared to take some short term high volatility. It may or may not be the lowest point right now, but it is GOOD ENOUGH. OK to pour in 50% or more of your cash holding into some beaten down Blue Chip shares. They will be the very first few counters to recover once the dust settle down in the next few months.

Good luck. Fasten the seat belt. And enjoy the volatile ride over the next few months. You will be rewarded handsomely (in the next 3 to 5 years or sooner).

Freddie Mac acting CFO found dead in apparent suicide - Reuters

WASHINGTON (Reuters) – David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home, a Fairfax County police spokeswoman said.

http://news.yahoo.com/s/nm/20090422/bs_nm/us_freddiemac_kellermann

Yahoo to cut nearly 700 jobs after 1Q results fall

Michael Liedtke, AP Technology Writer
Tuesday April 21, 2009, 9:58 pm EDT

SAN FRANCISCO (AP) -- Yahoo Inc. will lay off nearly 700 workers after getting off to a bumpy start under a tough-talking new boss who has promised to engineer a long-awaited turnaround at one of the Internet's best-known franchises.

Yahoo dumped about 1,000 jobs in February 2008 and another 1,500 or so late last year while co-founder Jerry Yang was still running the company. Yang stepped down, largely because he wasn't able to snap the company out of its financial funk during his 18-month tenure as CEO.

HSBC layoffs increase job-loss fears in Hong Kong - MarketWatch

By V. Phani Kumar, MarketWatch

Last update: 10:56 p.m. EDT April 21, 2009

HONG KONG (MarketWatch) -- HSBC Holdings has laid off about 100 employees from its private-banking division in Hong Kong, sparking fears of a new wave of job cuts in the city's financial sector, according to local media reports Wednesday.

The job cuts by HSBC (HBC 34.26, +0.81, +2.4%) constitute about 8% of its 1,200 staff at the unit, according to the reports.

http://www.marketwatch.com/news/story/story.aspx?guid=%7B8F1B6340%2DF45B%2D42E5%2D9CEB%2D823C09A58A07%7D&siteid=YAHOOB

GM cutting 1,600 U.S. salaried positions

Mon Apr 20, 2:57 pm ET

DETROIT (Reuters) – General Motors Corp said on Monday it is telling about 1,600 salaried U.S. employees this week to leave by May 1 as it scrambles to reduce costs under a restructuring mandated by the U.S. government.

The reductions are part of GM's plan to slash its global salaried work force this year by about 10,000, or 14 percent. GM also aims to cut 37,000 hourly jobs worldwide by the end of the year.

http://news.yahoo.com/s/nm/20090420/bs_nm/us_gm_cuts

breaking news | Human Resources Online

20-Apr-09

China - In order to improve its efficiency, Wal-Mart China has announced that it will remove one layer of management, affecting 1,400 staff in the process.

http://www.humanresourcesonline.net/news/12250

Sony Ericsson to cut 2,000 jobs after first-quarter loss - MarketWatch

By Steve Goldstein, MarketWatch

Last update: 2:58 a.m. EDT April 17, 2009

LONDON (MarketWatch) -- Sony Ericsson Mobile Communications on Friday said it's going to cut 2,000 jobs following a first quarter in which the maker of mobile phones lost 293 million euros ($386 million).

http://www.marketwatch.com/news/story/story.aspx?guid=%7BFD4E1EB2%2D588A%2D458A%2D9436%2D9CCC7A440066%7D&siteid=YAHOOB

General Growth files for bankruptcy protection

By Ilaina Jonas and Emily Chasan Ilaina Jonas And Emily Chasan – 1 hr 13 mins ago

NEW YORK (Reuters) – General Growth Properties Inc, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S. history.

http://news.yahoo.com/s/nm/20090416/bs_nm/us_generalgrowth_bankrupcty

AMR results beat Street view, rallies the sector - MarketWatch

Overseas, Europe's largest transatlantic airline, Air France-KLM (FR:AF: news , chart , profile ) , reportedly plans to cut 2,500 to 3,000 jobs by 2011, albeit without any involuntary redundancies, French newspaper La Tribune reported on Wednesday, without citing sources.

http://www.marketwatch.com/news/story/AMR-results-beat-Street-view/story.aspx?guid=%7B42BE529B%2D5202%2D4516%2D963C%2D4043EF08F94E%7D

UBS faces $1.8 billion loss, will cut almost 9,000 more jobs - MarketWatch

By Simon Kennedy, MarketWatch

Last update: 10:25 a.m. EDT April 15, 2009

LONDON (MarketWatch) -- UBS shares fell as much as 9% Wednesday after the struggling Swiss bank said it expects to post a loss of nearly 2 billion Swiss francs ($1.8 billion) for the first three months of 2009 and added that nearly 9,000 more staff will lose their jobs.

http://www.marketwatch.com/news/story/UBS-faces-18-billion-loss/story.aspx?guid=%7B8B7933AE%2D20F2%2D4C5F%2D8834%2DA67C9DBF56C5%7D

Michelin to shut US factory, cutting 1,000 jobs - Yahoo! Singapore News

AFP - Tuesday, April 14

NEW YORK (AFP) - - The US subsidiary of French tire maker Michelin said it will shut a US plant in Alabama, where it employs 1,000 people, due to an "unprecedented" slump in demand.

http://sg.news.yahoo.com/afp/20090414/tts-finance-economy-us-auto-company-cuts-972e412.html

Bankruptcies surge despite law meant to curb them - Yahoo! Finance

AP Enterprise: Bankruptcies are surging despite law that made them tougher and more expensive

Mike Baker, Associated Press Writer
Monday April 13, 2009, 6:40 pm EDT

RALEIGH, N.C. (AP) -- The number of U.S. businesses and individuals declaring bankruptcy is rising with a vengeance amid the recession, despite a three-year-old federal law that made it much tougher for Americans to escape their debts, an Associated Press analysis found.

"There's no end in sight," said bankruptcy lawyer Bryan Elliott of Hickory, N.C., who is working seven days a week and scheduling prospective clients a month in advance. "To be doing this well and having this much business, it is depressing. It's not a laugh-a-minute job."

Nearly 1.2 million debtors filed for bankruptcy in the past 12 months, according to federal court records collected and analyzed by the AP. Last month, 130,831 sought bankruptcy protection -- an increase of 46 percent over March 2008 and 81 percent over the same month in 2007.

http://finance.yahoo.com/news/Bankruptcies-surge-despite-apf-14914978.html

Recession outlasts even extended jobless benefits - Yahoo! Finance

For many unemployed, the recession will outlast even extended jobless benefits

Christopher S. Rugaber, AP Economics Writer
Sunday April 5, 2009, 4:57 am EDT

WASHINGTON (AP) -- In the coming weeks and months, hundreds of thousands of jobless Americans will exhaust their unemployment benefits, just when it's never been harder to find a job.

Congress extended unemployment aid twice last year, allowing people to draw a total of up to 59 weeks of benefits. Now, as the recession drags on, a rolling wave of people who were laid off early last year will lose them.

Precise figures are hard to determine, but Wayne Vroman, an economist at the Urban Institute, estimates that up to 700,000 people could exhaust their extended benefits by the second half of this year.

http://finance.yahoo.com/news/Recession-outlasts-even-apf-14852191.html

Qantas slashes profit estimate, plans mass job cuts - 1,750 jobs

TOKYO (MarketWatch) -- Qantas Airways said Tuesday it is cutting its fiscal 2009 earnings expectation by as much as 80% and plans to lower its flying capacity, reduce spending and eliminate up to 1,750 jobs in response to a major slump across the air travel industry.

http://www.marketwatch.com/news/story/story.aspx?guid=%7B3861959E%2D1A24%2D4369%2DB7A0%2D5A6FD11400E4%7D&siteid=YAHOOB

Sallie Mae to add 2,000 jobs

Monday April 6, 2009, 9:25 am EDT

RESTON, Va. (AP) -- Sallie Mae said Monday that it will bring 2,000 jobs to the U.S. within the next 18 months as it shifts call center and other operations from overseas.

 

http://finance.yahoo.com/news/Sallie-Mae-to-add-2000-jobs-apf-14857212.html

U.S. private sector axes 742,000 jobs in March - Yahoo! News

1-Apr-09
NEW YORK (Reuters) – Job losses in the U.S. private sector accelerated
in March, more than economists' expectations, according to a report by
ADP Employer Services on Wednesday.

Private employers cut jobs by a record 742,000 in March versus a 706,000
revised cut in February that was originally reported at 697,000 jobs,
said ADP.

http://news.yahoo.com/s/nm/20090401/bs_nm/us_usa_economy_employment