"Dow below 10,000 for first time since Nov.
The Dow closed below 10,000 for the first time since November amid concern that deteriorating government finances in Europe, especially in Greece, Portugal, and Spain, will derail the economic recovery. US stocks have fallen for four straight weeks, the longest losing streak since July. Bank of America and American Express had the biggest declines in the Dow.
See: Breaking News: Goldman Sachs Screwed Greece
It's over, readers, even if the market recovers.
The market means nothing now; it is a house afire and nothing can extinguish it -- least of all, the same globalists prescriptions that caused the mess.
Related: Monitoring the Market
How others are doing:
"OneUnited posts profit, to offer loans" by Beth Healy | February 10, 2010
OneUnited Bank said it is returning to the mortgage lending business, after a year of turmoil in which the bank received $12 million in federal bailout funds, with the help of US representatives Barney Frank and Maxine Waters.
Related: MSM Xmas Gifts: To OneUnited Bank
Chief executive Kevin Cohee said the Boston bank turned around its performance in 2009, posting a profit of $3.2 million, and plans to make $100 million to $150 million in loans for single-family and multifamily homes this year. It has not yet repaid its bailout funds to the government....
Pfft.
--more--"The only winner?
"Cost-cutting boosts profit at Viacom" by Associated Press | February 12, 2010
LOS ANGELES - Cost-cutting at Paramount Pictures boosted profit at media giant Viacom Inc., but advertisers remained cautious about spending money during the holiday quarter. Ad revenue fell 3 percent overall on Viacom cable channels such as Nickelodeon, BET, and Comedy Central....
I don't watch any of that s*** -- except for Jon Stewart if my mind wanders and lags.
Otherwise it is click.
"TechTarget profit revised, CFO resigns
TechTarget Inc. has finished an internal audit and reduced its third-quarter income by $967,000 to adjust for improper accounting....
In the quarter ended Sept. 30, TechTarget lost $1.4 million....
That's not a profit. That's a loss.
--more--"
More losses:
Elan posts loss, forecasts strong 2010
Related: Biogen Benefits From Brain Disease
Also see: Welcome to the Wonderful World of Biologics
"Sovereign has loss for year" by Beth Healy, Globe Staff | February 9, 2010
Sovereign Bank “has the most room for improvement’’ among its bank units as far as cutting costs, even after a restructuring that eliminated 950 jobs, or 9 percent of its work force. Of those, 265 jobs were in Massachusetts....
What, they didn't get any bailout loot?
--more--"Speaking of lost jobs:
"UPS may lay off at least 300 pilots" by Bloomberg News | February 9, 2010
DALLAS - United Parcel Service Inc., the world’s largest package delivery company, plans to furlough as least 300 pilots unless it can find more savings in a joint effort with the employees’ union.
If they are cutting we are all in trouble.
Holiday, online sales boost UPS profit
One day we are told the holiday was s***ty (sales were down 25% from two years ago), the next great. Take your pick of MSM turds as UPS tries to bend over the unions again.
The layoffs would involve about 11 percent of its 2,800 pilots, starting in May, the Atlanta-based company said yesterday. UPS already is cutting 1,800 small-package jobs.
While they are MAKING PROFIT and BUSINESS is UP?
UPS is preparing to trim the pilot ranks after the company and the Independent Pilots Association in June avoided layoffs with an agreement for $131 million in labor concessions over three years.
And NOW they are BACK FOR MORE! When will labor ever learn!
GROUND 'EM and see what happens!!!
Make them BEG for MERCY and expose the "terror" frauds, too!!!
Efforts to find more ways to reduce expenses have failed, UPS said yesterday in a statement. Talks with the union are continuing, the company said.
“Even though the economy has begun to turn around, UPS anticipates a very gradual recovery and a continued need for belt-tightening,’’ Bob Lekites, the president of UPS Airlines, said in the statement. “This is a painful decision for our people, but one that is right for the ongoing health of our business.’
UPS in January said it would cut 1,800 jobs as it shrinks US operating districts in its small-package unit, its largest division.
The company last week reported fourth-quarter net income of $757 million on sales of $12.4 billion.And they are CRYING POVERTY, huh?
--more--"
Yeah, what can BROWN do for you?
SHIT ALL OVER YOU, that's what they do!!!
Same as what government does:
"Jobless report brightens, for now" by Associated Press | February 12, 2010
WASHINGTON - The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month, a sign the job market may be improving....
Pfft! Yeah, they dropped off the rolls so now the numbers look good.
And the jobs outlook is about to get muddy again.
That's not mud; it's MSM and government s***.
The unemployment claims numbers for this week, which will be reported next week, will probably be affected by the closing of businesses and government offices due to snowstorms in the Mid-Atlantic.
This week is also the period when the government gathers information for the February report on the unemployment rate and employer payrolls. The severe weather may distort those figures, too, economists said.
When are they NOT distorted, America?
That could make it hard to get an accurate picture of the job market for several weeks.
Pfft!
The snowstorms could cost the economy more than 100,000 jobs in February, said Carl Riccadonna, senior US economist at Deutsche Bank. Construction companies and retailers may hire fewer people. And hiring for the 2010 Census could be delayed.
--more--"
