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Good news though my garden is doing wonderful!
Boise State University -800
Corning Inc. Closing Plant -200
Sutter Medical Center -53
Hallmark Cards Looks At Layoffs
TOUSA Stops Building Homes -200
Victoria and Co. -70
King's Daughters Hospital -20
Mass Layoffs Fall In KS, MO
Missouri reported 3,538 initial claims for unemployment insurance in February, down from 5,239 in January and up from 1,127 in February 2008.
**Oh goody only 3,538
Mass Layoffs Decline In Colorado
There were 1,237 initial claims for unemployment insurance in Colorado as a result of mass layoffs in February, down from 1,814 in January and 2,023 in December, BLS said.
Boston Teachers -212
ABP Induction -31
Ann Arbor News Will Close
Alatech Loses Fed Contract May Cut -300
Mzinga Inc. -40
SABIC Innovative Plastics -48
Charlotte Observer -82
Advertising Age -5
Lexington Paper -49
Another Round At Schlumberger
The world’s largest oil field services company, which in January announced plans to cut 6 percent of its work force, now expects “a further reduction of a similar amount” in coming months, Chief Executive Andrew Gould said at the 2009 Howard Weil Energy Conference in New Orleans. While the first round of cuts — eliminating about 5,000 of the firm’s 84,000 global employees — should be largely completed by the end of March, Gould gave no specific timetable for the next phase of layoffs. A company spokesman did not yet know how the company’s Houston operations would be affected.
Layoffs Hit Canadian Oilsands
Lexington Herald-Leader -53
Nike Could Start Layoffs -1,400
Carmel Clay Schools -19
Recession Stress Causing Illnesses
Trane Plant Layoffs Start Today -30
Caterpillar Decatur Plant Furlough
Foot-Joy Factory Closes -103
Dell Cutting Jobs
University of Maine
Air Labrador -100
Washington State Up To -8,000
BP Amoco In Illinois -52
Tech Jobs Disapear At AIG (only 6)
Troutman Sanders Law Firm
SDS Lumber Co. -150
Silver Lake School District -15
Trane In Ft. Smith AR -30
Carlise Industrial Brake -30
Lake Compounce Theme Park +1,200
So...how many suit/counter suits does that make now between the Gov/Banks/Pension funds/share holders...I've lost track...
UPDATE 1-Top pension funds aim to lead Bank of America suit
LOS ANGELES/SAN FRANCISCO, March 23 (Reuters) - The first and third largest U.S. pension funds plan want to lead a class-action suit against Bank of America (BAC.N), accusing the lender of mis-stating or omitting crucial information about the financial health of acquired investment bank Merrill Lynch.
The California Public Employees' Retirement System (CalPERS) and California State Teachers Retirement System (CalSTRS) said on Monday they were trying to protect the retirement security of their over 2 million members.
On Monday, they filed a joint motion to the District Court of the Southern District of New York to be designated lead plaintiff in class actions against Bank of America stemming from its merger with Merrill Lynch.
Plaintiffs lawyer Coughlin Stoia filed the suit in mid-February.
"Despite these challenging economic times, we can't give corporations a pass on their obligations to shareholders," said Jack Ehnes, CalSTRS chief executive officer.
"By moving to be appointed lead plaintiffs, we're acting to supplement government enforcement of securities laws at a critical time for our nation's economy. We've taken this step to hold the board and its management responsible to their owners."
In a joint statement, CalPERS and CalSTRS said shareholders lacked complete information about the merger before they approved the tie-up.
Anger has mounted against Bank of America, which agreed last September to buy struggling Merrill at a 60 percent premium after fewer than 48 hours of discussions. Investors have accused the lender of overpaying, and failing to timely disclose the extent of the target bank's losses once they had become known.
Originally posted by Hx3_1963
Actually...I'm surprised asia isn't up more after the move we had today...
Think they're reading that chinas people bank story?
[edit on 3/23/2009 by Hx3_1963]
Beware the so-called "improving" existing home sales numbers:
March 23 (Bloomberg) -- U.S. Sales of previously owned homes unexpectedly climbed in February as record foreclosures brought bargain hunters into the market to take advantage of lower prices.
Supply hasn't changed, however, at 9.7 months, and more troubling is this:
The median listing price rose in California last month for the first time in three years, said Lawrence Yun, the real- estate agents group’s chief economist.
Mr. Mortgage has been all over this (Mark); his web site is down at the moment, however, I as understand he is moving. (You can google him and get on his email list, which I am.) The short form of the explanation for the rising prices in California in terms of "average resale" is extremely bad; foreclosures are now moving "up-market" - that is, having cleaned out all the "Starter Homes" we're now seeing the middle-market and higher homes go into foreclosure and as a consequence this "improvement" is actually a marker for severe distress in the broader economy in California.
Contrary to initial appearance this isn't "good" for the housing market, its bad! When the $200,000 houses are getting foreclosed it's "more or less ordinary Americans" getting nailed - when its the $1 million houses that's the executives and other "nouveau riche" types, and along with the house will go to the BMWs and Hummers.
This data produced a really nice pop in the markets when it was released; I don't expect the media to "get it", but there are some of us out here in the Blogosphere, including Mr. Mortgage and myself, who will read beyond the headlines and actually put forward something passing as "analysis"!
I'm so sick AND tired of hearing the word credit!!!
Obama urges G20 leaders to act fast to boost growth
BERLIN (Reuters) - U.S. President Barack Obama urged fellow G20 leaders on Tuesday to agree immediate action to boost the global economy at a London summit next month.
In an article for German newspaper Die Welt, Obama called for a deal on quick fiscal stimulus measures at the April 2 meeting which he said could open the way to a global recovery.
The comments highlight the differences between the United States and Europe on the need for further stimulus measures on top of packages that governments already have adopted.
"First we must take quick measures to stimulate growth," Obama wrote in the article, according to the German translation of his comments.
Obama said the United States and other G20 members had taken fiscal steps to boost growth but added:
"These efforts should be robust and sustained until demand has been restored."
He said the United States was ready to lead the way to revive the world economy and bolster renewed confidence.
"If the London summit contributes toward immediately initiating joint measures, we can smooth the path for a secure recovery and prevent future crises," he said.
European leaders have so far resisted U.S. calls for further stimulus measures and instead want tighter financial market regulation and supervision to be the main focus of the summit.
Obama said better supervision, as well as restoring the credit flow to companies, was essential for recovery.
"I am determined to take this opportunity to make progress on far-reaching reforms of our regulatory and supervisory framework," he wrote.
Obama said G20 nations had a duty to help countries facing serious financial risks.
"The G20 should quickly make money available to stabilize emerging countries, to substantially raise the emergency capacity of the International Monetary Fund and regional development banks which accelerate credit," he wrote.
Obama said his country bore some responsibility for the crisis but added that the G20 summit offered an opportunity for nations to work together to fight the downturn.
"I know that America has played its part in the chaos that confronts us ... Now it is time to work together to get back to sustainable growth, which can only come from open and stable markets," he wrote.
Seems we have 6 of one and half a dozen of the other, concerning what kind of fiat crap to start pushin' next...
IMF poised to print billions of dollars in 'global quantitative easing'
The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis
Alistair Darling and senior figures in the US Treasury have been encouraging the Fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.
Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England's plan to pump extra cash into the UK economy.
However, economists warned that the scheme could cause a major swell of inflation around the world as the newly-created money filters through the system. The idea has been suggested by a number of key figures, including billionaire investor George Soros and US Treasury adviser Ted Truman.
Simon Johnson, former chief economist at the IMF, said: "The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.
"The objective is to create a windfall of cash. However if everybody goes out and spends the money it could be very inflationary."