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Posts Tagged ‘Recession’

Starbucks announced today that starting tomorrow they will be cutting 6,700 jobs and closing 300 stores.  You know the economy is horrendous when Americans are no longer willing to pay $5 for cup of coffee.  Overpriced

Copyright 2005 Bernie Hou

Copyright 2005 Bernie Hou

caffeinated drinks is an American way!  Kidding.  

 

Revenue fell to $2.62 billion from $2.77 billion, while analysts had predicted revenue of $2.70 billion.

 

Starbucks also said its Chief Executive Howard Schultz will be paid just $10,000 in base salary for fiscal 2009, including health insurance and other benefits. His salary was $1.2 million in 2008.

Schultz still could take home more compensation in the form of stock options. In the last fiscal year, he received stock options worth $7.8 million when granted, which helped boost his total compensation near $10 million.

The company said it plans to open only 140 new stores in the U.S. in fiscal 2009, down from its previous target of 200. Overseas, it will open 170, down from the 270 it had planned to open.

 

Earlier, the company told employees that it will not guarantee matching contributions to their 401(k) retirement plans this year.

Read the article in it’s entirety here.

-Koop

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CNN just posted this article on the jobs which have been cut already this week and it’s Monday.  As a person who’s about to be unemployed this scared the living crap out of me.  Keep reading…..

Bloody Monday: More than 50,000 jobs lost

Six companies announce massive job cuts in a scary start to the week.


By Julianne Pepitone, CNNMoney.com contributing writer

NEW YORK (CNNMoney.com) — The final week of January began with a bloodbath for the job market, as more than 50,000 more cuts were announced on Monday alone.

At least six companies from manufacturing and service industries announced cost-cutting initiatives that included slashing thousands of jobs.

About 185,000 job cuts have been announced so far this year, according to company reports. Nearly 2.6 million jobs were lost over 2008, the highest yearly job-loss total since 1945.

“It’s all about the consumer, and the consumer’s been hit hard,” said Robert Brusca, chief economist at Fact and Opinion Economics. “It’s a vicious circle as weakness begets layoffs, which beget more spending weakness.”

Construction machinery manufacturer Caterpillar (CAT,Fortune 500said Monday it will cut 20,000 jobs amid a “very challenging global business environment.” The company had already planned to cut 15,000 workers since the fourth quarter of 2008, but added another 5,000, bringing the total to 20,000.

Sprint Nextel Corp. (SFortune 500) will cut a total of about8,000 jobs by March 31, the company said in a release. The telecommunications company’s plan is to reduce internal and external labor costs by about $1.2 billion on an annual basis.

Home Depot (HDFortune 500), the world’s largest home improvement retailer, announced Monday it will eliminate its EXPO design center business and cut 7,000 associates, or approximately 2% of the company’s total workforce. The company blamed a lack of demand for big ticket design and decor projects.

Dutch financial group ING said Monday it will take a 2008 loss of $1.3 billion and cut 7,000 jobs. The company could not comment on where the cuts would take place. ING employs around 130,000 people across 50 countries.

Pfizer (PFEFortune 500) said in an earnings report it would cut 10% of its staff of 81,900 and close five of its manufacturing plants. The drugmaker recently announced that it was cutting up to 8% of its research staff, or up to 800 jobs. The company already cut 4,700 jobs in 2008.

Deere& Co. (DEFortune 500) , the world’s top farm-equipment maker, said it would cut nearly 700 jobs between factories in Brazil and Iowa.

The job cuts across sectors didn’t surprise Brusca, as nearly all are weak, he said.

“The services sector is shedding jobs at a horrific pace, because that’s where most of the jobs are,” Brusca said. “When the consumer is in tough shape it’s hard for business to do well, because it all depends on consumption or investments.”

Continuing the scary trend

The cuts mark a horrific start to the week, and a brutal start to 2009. In the previous week, around 40,000 cuts were announced across multiple industries.

Wednesday, in particular, was littered with a slew of job cuts: BHP Billiton, Clear Channel Communications, Intel, Rohm and Haas Co., UAL Corp. and Williams-Sonoma all announced job cuts totaling over 27,000 positions.

Schlumberger said Friday that it will cut 5,000 jobs worldwide, with 1,000 of the cuts taking place in North America.

Also last week, Time Warner Inc.’s Warner Bros. Entertainment said it would cut about 800 jobs, or 10% of its worldwide staff in the upcoming weeks, while Microsoft unveiled its plan to cut up to 5,000 jobs – 5.5% of its global workforce.

Article continues here.

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Baltimore Sun

Baltimore Sun

During the week, for some reason, I decided to keep a list of business’ who are laying employees off or are filing for bankruptcy.  The following are this week’s Recession Victims.  My sympathies to those who are now having to find the unemployment.

 

Hertz – Laid off 4,000 employees

Motorola – 4,000 employees

Circuit City – may now have to do a full-on liquidation. 

Sakes Fifth Avenue – 1,100 employees

Virgin closed it’s Time Square Mega Store

Neiman Marcus – approx. 400 employees

Boeing – 4,500

Macy’s will be closing 10 locations

Walgreens – 1,000 Corporate Employees

Les Folies – The topless show at the Tropicana In Las Vegas is closing.

AND….

In 2008, 26 million jobs disappeared in the United States.  Let’s all hope and pray President Obama can help turn our economy around.  Times are becoming tough and we all need some assistance.  Good luck to everyone! I think we all need it.

-Koop

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It’s a funny thing, being a “tree hugger”, but nowadays that term isn’t such a stigma. We live in a world where the consequences for the way we’ve been treating it, is not a far and distant future. If you read the news, watch TV or heaven forbid know someone who has directly been affected by the past two years of weather related catastrophes, you are all too aware of just how badly mother nature can treat us. Some people (really smart people) are attributing these crazy storms, in and outside of the United States, to the way we’ve been slapping HER (mother nature) in the face.

It’s a known fact that global warming increases the intensity of storms that would’ve hit anyway. Now, it’s not our fault that hot and cold winds hit each other to form a tornado, and it’s not our fault that under sea earthquakes erupt causing a tsunami, but experts say that because we don’t recycle and because we don’t watch how many carbon emissions we release when we drive our Hummers we DO cause these perfectly natural occurrences to be more severe and harmful to ourselves. Which begs the question, “ When will we change?”


Homo Sapien: “Modern Human” (Latin) “Knowing Human” or “Wise Human”. We are, by nature, Thinkers, Creators, Philosophers, Teachers, Learners. So why have we become so stagnant? Since the beginning of time the Homo Sapien has evolved (no matter what anybody else says) to be able to sustainably live in his/her environment. In the past 100 years due to war, the changing economy and the simple act of just being lazy we’ve found ways to live in our environment sustainably for only about a century. The problem is, that we’re coming up on the end of that 100 years and we have no idea how to live any other way. We are a malleable people, we can change our ways, even if it’s just slightly. There are so many consuming Homo Sapiens in this world that if we all changed our ways just a little, it will make a huge change.
That’s what I’m aiming to do.


I want to help educate people on ways that you can change, without changing who you are. In each column I will highlight different parts of being eco friendly, help you become more acquainted with terms like “sustainable” and give you tips on how to implement becoming a “Greenie”.

Sus-stain-able [suh-steyn]
1. To support, hold, or bear up from below; bear the weight of, as a structure.
2. To supply with food, drink, and other necessities of life.
3. To provide for (an institution or the like) by furnishing means or funds.

Environmental sustainability:
Environmental sustainability is the process of making sure current processes of interaction with the environment are pursued with the idea of keeping the environment as pristine as naturally possible.

TIP TIME

When you leave for vacation, unplug all of your outlets.

Phantom energy is when electronic devices that are even turned “off” pull energy from the socket and those devices are called “vampire” devices because they suck the juice out of the wall at night when you aren’t even using them! This can waste energy and money. (You save enough money that it’s like getting a free mani/pedi each month!)

A simple way to remedy this is to put items in your house on power strips, that way you can just unplug the one (or one per corner of the house) before you leave for that fabulous vacation.

I KNOW, but what about your Tivo and clocks? Those can be left plugged in. My boyfriend has his Tivo plugged into the wall, but the rest of them to the power strip, so that all of his favorite shows will still be recorded.

Here’s a list of household electronics that will make that difference in the environment and your energy bill if you unplug them.

Television
Radio
Microwave
Ipod charger
Phone charger
Any and all lamps
Computer
Printer

I hope I left you with some insight and helpful tips. Go Green and Prosper!

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“If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.”
— New York Post

Gerald Celente is a genius who cannot be brushed off as a hack. He is the CEO of Trends Research Institute, a company that prides itself on being watchful and thoughtful about how what we’re doing today will effect our tomorrow. If you look at their website, it looks like a college kids did it, but there is no denying how on target the Trend Research Institute has been.

First let’s talk about his past predictions so you can see for yourself his track record.

Real Estate Fizz …………………………………………………………………….01/05
Alternative Energy Biz to Boom ……………………………………………..2005
Recession 2007 …………………………………………………………………….2004
US to Lose Iraq War (one month before war began) ……………….2003

October 1997 Pacific Rim currency crisis……………………………….1995
August 1998 Russian economic collapse……………………………….1996
On-line shopping revolution…………………………………………………….1995
October 1987 world stock market crash………………………………….1986

Increased international and domestic terrorism.Oklahoma City Bombing -1995, Atlanta Olympic bombing-1996…1993
Home-office trends……………………………………………………………1986

Downsizing, outsourcing and temporary work force…………………1990
Gourmet coffees and micro-brews.Starbucks!. they became well known in the mid 90’s…1988
Clean water market opportunities……………………..1988

Casual dress trends………………I don’t wear a suit to work, do you?…1986
Voluntary Simplicity………………………………………………………….1990

Green marketing…………………………………………………………………….1988
Increase in Halloween retailing………………………………………………..1989
Baby boomers to buy second homes……….Florida vacations homes….1992
Big move to small towns…………Suburbs………….1992

_______________________________________________________________________

Let’s talk about his current predictions- most of them are pretty scary.

  1. Conservation Engineers– More powerful than high tech and paying much better than the booming health care sector, we forecast that “Conservation Engineers” and “Conservation Specialists” that are skilled in providing enviro-smart solutions will be among the most handsomely rewarded and sought after professions for the next several decades…..
  2. Tax RevoltsTax Revolts It was a reason given for starting the first American Revolution and as the trends add up, it will also be a reason for starting the second. Fed up, and not willing – or able – to take it anymore, overtaxed Americans will begin the battle against politicians and bureaucrats in the fight to lower and/or repeal taxes… while demanding higher tax rates for those seen as paying too little….
  3. Bye Bye Bucks-America’s going broke and the whole world knows it. Betting that its economy will spiral down and that the dollar will fall with it, foreign creditors are dumping dollars on the market … and even Third World street vendors don’t want to take greenbacks any longer. The further it falls, the less it’s worth. The less it’s worth, the less it buys. In the real world they call it “inflation.” In America they call it “good for business.” ……
  4. Small is Big-Unlike the years of personal prosperity and business growth long perceived a birthright … today, as America’s fortunes dwindle, its people will be forced to adjust attitudes and alter practices to compensate for the losses. Although the oncoming national downsizing trend may be a blow to egos and painful to pocketbooks, if intelligently deployed and spiritually practiced, the “Small is Big” trend can lead to more progressive advancement and greater rewards than the supersizing trend that has been consuming much of the nation…..
  5. Heal yourself Health careJust as it took mountains of facts and bottom line realities to finally convince a consumption prone public that energy saving tools and environmentally sound practices bring bigger rewards and higher quality, the oncoming “Heal Yourself Health Care” trend will be as widely embraced and will prove equally rewarding.

    Evolving over the past two decades, along with growing acceptance of seeking alternative medical options, the “Heal Yourself Health Care” trend is being driven by both the lack of money and the power of the mind…..

  6. Technoslaves.comIt’s a quickly spreading worldwide epidemic that will get much worse. All colors, classes, creeds and races are addicted and they can’t break the habit. Before 2008 ends, the TechnoSlave trend will be so pervasive and so deeply embedded into the fabric of society that Old World communication styles will be seen as quaint and ridiculed as stupidly boring by the high-tech “hip.” Across borders and around the world, blinking lights of blue and red flash from human ears … electro-plastic appendages affixed to the body and controlling the mind. So self-important have society’s members become that they must be connected at all times … to be in touch and instant messaged … for work, play and to fill the voids of idle time…..

**All of these predictions came from http://www.trendsresearch.com/journal08.html

It’s great that we the people saw that the jig was up and elected a non-corrupt man into the office, but it saddens me to think that no matter what he does in office, our lives will be forever changed because of one man’s infinite power for 8 years and there’s nothing Obama can do about it. I, for one, do not doubt these predictions. I do not doubt that this new generation of kids will grow up understanding that food is more important that a toy truck. I do not doubt that we will go broke. We will soon understand the plight of Argentinians and Mexicans after the Tequila Crisis of ’94 and even our grandparents who lived during the great depression.

Here is a video on FOX Business- now if they have Gerald Celente on the show, they must think their whole demo is going bankrupt very very soon.

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I know, I know it’s wrong to laud the recession but today I seriously benefited from poor store sales. Every year around this time, i.e. my birthday, I go on a small shopping spree.  This stems completely from several stores sending me “Birthday” coupons.  Plus, I was bored.  Every store I went to had some sort of sale. Either it was buy one get one 50% off or just everything was 50% off.  This included Macy’s who had designer jeans 40% – 65% off.  Spending only $200 I bought the following:

Pair of Black Dress Pants, 1 black sweater, 3 shirts, underwear, and 2 pairs of jeans.  Personally I thought I had hit the jackpot.  Now I am not saying to go spend all your money because let’s face it we all need to be saving right now, but if there’s something you’ve been wanting to buy now might be the time to look into purchasing that item.   Stores: Old Navy, AEO, Express, and Victoria’s Secret.  

 

The Weepies

The Weepies

In other news, this Thursday on Dirty Sexy Money, Jeremy Darling surprised his gf played by Lucy Liu with a private, in apartment concert from The Weepies.  I’ve loved this group for awhile now and am extremely happy they are getting some national attention.  Right now on abc.com you can download the song they played on the show for free.  Also, check out their music video for Hideaway which is a favorite of mine.  

 

http://abc.go.com/primetime/dirtysexymoney/index?pn=music

http://www.veoh.com/videos/v16348149ba3h754q

One more tidbit of greatness….yes, I promised to lay off the Tegan and Sara posts but I couldn’t help myself.  The Quins are participating in a unique blog series for Spinner.com.  Each week one or the other will post an essay on one of the following topics;  Laugh, Rage, or Cry.  Teagn’s first post tells a story about her experience with crying and her well written, relatable, honest story made me want to cry.   Is there anything these women do not excel in?

http://www.spinner.com/2008/10/22/laugh-rage-cry-with-tegan-quin/

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