"Economy sheds 80,000 jobs in March"
"Employers cut payrolls in March for a third straight month and the jobless rate jumped to a 2-1/2-year high, further evidence that a housing downturn and credit crisis may have pushed the economy into recession.
The Labor Department on Friday said nonfarm employment fell by 80,000 jobs in March, more than expected and the biggest drop in five years. Financial markets saw this as reinforcing the need for further Federal Reserve interest rate cuts.
It was the first time the U.S. economy had shed jobs for three consecutive months since a five-month string in 2003, when the economy was mired in a recovery from the 2001 recession which created few jobs...."
"Bush appears out of touch on U.S. economic woes"You don't say?
"The first hint that President George W. Bush might be detached from the country's economic woes was in February, when he conceded that he had not heard about predictions that gasoline could soon cost $4 a gallon.
Then Bush went to Wall Street to warn against "massive government intervention in the housing markets," two days before his administration helped broker the takeover of the investment bank Bear Stearns.
Employers cut payrolls in March for a third straight month and the jobless rate jumped to a 2-1/2-year high, further evidence that a housing downturn and credit crisis may have pushed the economy into recession.The Labor Department on Friday said nonfarm employment fell by 80,000 jobs in March, more than expected and the biggest drop in five years. Financial markets saw this as reinforcing the need for further Federal Reserve interest rate cuts.
It was the first time the U.S. economy had shed jobs for three consecutive months since a five-month string in 2003, when the economy was mired in a recovery from the 2001 recession which created few jobs....
Still, because the public has little faith in Bush, it may be tough for him to be the point man on the economy, even with a Harvard business degree. Just 25 percent of the public approves of the way Bush is handling the economy, a figure even lower than his overall job approval rating, according to a CBS News poll in mid-March...."Translation: WE ALL HATE HIS lying, law-breaking, mass-murdering, war-criminal ass!
"La-Z-Boy, Whirlpool Moving Hundreds Of Jobs To Mexico"
"La-Z-Boy and Whirlpool are moving jobs to new plants in Mexico, bringing job losses to hundreds of workers in Dayton and Cleveland.
La-Z-Boy employees in Dayton were told today that the cutting and sewing operation is being moved to Mexico....
Kurt L. Darrow, La-Z-Boy’s president and chief executive officer, said, “Speed to market for custom orders is a tenet of our brand promise to the consumer and the strength of our U.S. facilities enables us to deliver on that promise. With its proximity to the U.S. and the lower cost structure inherent in a Mexican-based operation, we made the decision to transition our domestic cutting and sewing operations while streamlining the assembly aspect of production in the United States.
"Our new Mexican facility will be able to rapidly supply our domestic plants with cut-and-sewn fabrics and leather for custom orders and will complement the existing cut-and sew program from China, which supplies our U.S. manufacturing operations with kits for our high-volume SKUs.
“Once we made the decision to transition the domestic cut-and-sew operations to Mexico, we analyzed our remaining total capacity. With the floor space created by consolidating six cut-and-sew operations into one in Mexico, and with our manufacturing facilities dedicated solely to production, we determined we could service our existing and future demand with one less facility. Importantly, our remaining facilities will be able to increase their capacity utilization as a result of this change. Therefore, we made the difficult decision to close our Tremonton, Utah, facility.
"We are confident this reallocation of resources, combined with the many changes we have made to our production processes, will continue to strengthen our operations. We regret the impact these moves will have on the families and lives of those employees affected and greatly appreciate the contribution of each employee and thank them for their years of dedicated service.”
Mr. Darrow added, “With the normal attrition rate at our production facilities and the time with which we plan to transition our cutting and sewing operations, employees working in that capacity will have the opportunity to learn new skills and be considered for other positions within their facilities as they become available, particularly as we shift production from Utah.”
.... Mr. Darrow said, “With the breadth and size of our operation, we will
ensure that our dealers and their customers will continue to receive excellent service with ontime deliveries as we transition production between facilities. Additionally, our manufacturing footprint will allow us to flex our capacity as we execute on our strategic growth plan.”
.... Once these moves are completed, the company expects to realize in excess of $25 million in annual cost savings, with the full benefit beginning in fiscal 2011."
Where do you think you will be in 2011, laid-off American worker?
Gonna be buying a washing machine from Whirlpool or a recliner from Laz-Z-Boy?
