"Wells Fargo profit is a record-setter
Wells Fargo profit is a record-setter....
Related: The Miraculous Turnaround of AmeriKa's Banks
Update: California sues Wells Fargo over auction-rate debt
Frikkin' crooks!
AT&T rings up unexpected results....
And our kids are fatter and unhealthier, but who cares? McDonald's did good!
VMware income increases by 62%"
Yeah, that's great.
Related: EMC to Expand Government Data-Mining
Update:
More lies for you.
"EMC looking to cut most employees' pay by 5%; Data storage firm's plan comes amid 9% slump in sales" by Hiawatha Bray, Globe Staff | April 24, 2009
EMC Corp., stung by lower-than-expected sales of its data storage hardware and software, is calling for a 5 percent pay cut for most of its 41,000 workers worldwide, including 23,000 in the United States and 8,800 in Massachusetts.
Yesterday, the company said first-quarter sales declined 9 percent from the previous year, missing industry analyst expectations and indicating how demand for heavy-duty storage gear has fallen off amidst the global recession. Quarterly net income declined by 23 percent, to $205 million, or 10 cents a share....
EMC also delivered bad news about VMware Inc., the virtualization software company in which EMC holds a majority stake. Once among the fastest-growing software companies in the world, VMware on Tuesday disclosed revenue growth that was slightly below expectations, and warned that its revenues might decline during the second quarter....
But IT INCREASED 62%!!!!!! WTF is with the DAMNABLE LYING, 'eh, LOOTERS?
In January, EMC said it would lay off 2,400 workers as part of a bid to cut expenses by $350 million during 2009. Goulden said yesterday about half of the layoffs have been carried out. EMC is moving to shed an additional $100 million in costs, this time through pay cuts rather than further layoffs.
Tucci sent a letter to every EMC salaried employee, asking them to agree to the plan. EMC spokesman Patrick Cooley said the company has operations in some countries where labor laws forbid management from imposing pay cuts without the consent of workers, but Cooley said the company can impose the cuts on its US workforce. Workers paid by the hour are not subject to the cuts, but they make up a small percentage of EMC employees.
EMC has already cut the salary of Tucci and other top executives by 10 percent. For EMC chief executive Joe Tucci, that's a reduction from $1 million last year to $900,000 this year. Tucci's bonus has been also cut by 30 percent, from $1.44 million last year to just over $1 million this year, while four other executives have take 10 percent bonus cuts.
Oh, what a hit to the wallet!!
Related: EMC Executive Bites the Bullet
Meanwhile:
GM reportedly planning to idle 15 plants
Related: GM Gives America the Tail Pipe
GM's Taxpayer Taxi
Before the carbon monoxide kills you, taxpayer, just know the auto companies looted you as well.
