"Toyota scales back production further" by Associated Press | December 11, 2008
TOKYO - Toyota Motor Corp. said yesterday it would further reduce production at several factories in North America, as the global slowdown continues to cut into the automaker's sales abroad.
Japan's largest carmaker will temporarily suspend output in December and January, according to Toyota spokesman Paul Nolasco. Production will be stopped in Indiana for six days, in Kentucky for nine days, and in Canada for 10 days. In addition, production of the Corolla and Tacoma at a plant in California jointly run with General Motors will be suspended for 10 days.
Merry Xmas, workers!! That's WITH PAY, right?
The latest reductions follow those in the United States and Canada announced last month, including cutting several hundred contract workers. Toyota has also suspended production at factories in Japan, and slashed its profit and overall production targets. Bonuses for midlevel managers will be cut by 10 percent.
But they still get 'em, huh? Well, don't look to the Japanese executive as a model, Amurkn looter, er, I mean, executives!
The company is feeling the effect of the economic slowdown in the United States, where its sales tumbled 34 percent in November. But it is not in the dire straits of its US rivals, which are waiting for Congress to approve $15 billion in emergency loans from Washington.
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Oh.
"Talbots to open 12 outlet stores in '09" by Jenn Abelson, Globe Staff | December 11, 2008
Talbots Inc. chief executive Trudy Sullivan said yesterday the Hingham clothier has signed leases to open 12 outlet stores next year, including one at the Wrentham Village Premium Outlets. The shops will debut in late spring and feature merchandise priced about 40 percent lower than at its other stores. Talbots, which already has some liquidation stores, plans to open about 30 upscale outlet shops over the next three years.
So the RICH are doing JUST FINE? EXPANDING even?
Oooooooooh, I think my morning cup of Joooooo........ (Blog author headed for bathroom)
"We have only just begun on our journey that will clearly take us several years as we reinvent this brand," Sullivan said yesterday at the Greater Boston Chamber of Commerce's Women's Network Breakfast in Boston. Sullivan is trying to turn around the retailer, which has seen its stock plunge and sales drop over the past year.
Since coming on board in the summer of 2007, Sullivan has closed the men's and kid's divisions and the business in the United Kingdom, along with cutting at least 10 percent of the staff at the headquarters. Talbots is also trying to sell off its J. Jill division.
You know, I'm not an economy expert (history my field); however, I was a;ways perplexed when companies talk about EXPANDING on the one hand while CONTRACTING on the other.
WTF?
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