Losses and layoffs for some:
"Citigroup Records a Loss and Plans 9,000 Layoffs"
".... The results — which included a $5.1 billion loss, another multibillion-dollar write-down and a pledge to eliminate 9,000 more jobs — were not as bad as many people feared....
Unless you are the one getting the pink slip, no?
As part of the layoffs announced on Friday, Citigroup will cut 7,000 jobs in its consumer banking operations and 1,700 jobs in its investment bank. Those reductions come on top of more than 4,200 layoffs announced in January...."
"Managers Among 4,650 Losing AT&T Jobs"
"AT&T said Friday that it would eliminate the jobs of about 4,650 workers, trimming the managerial ranks in its fading home phone business after more than $100 billion in acquisitions..... The cuts will occur in all parts of the United States..."
"Rots of Root" for others:
"Caterpillar’s Profit Climbs on Strength of Foreign Sales"
"The heavy equipment maker Caterpillar parlayed an increased reliance on international markets to surprisingly strong sales and a 13 percent jump in first-quarter profits, impressing investors who had expected the company to be slowed more by the weak American economy and dollar....
Revenue rose 18 percent, to $11.8 billion.... A sales breakdown showed 58 percent came from outside North America, up from 53 percent a year earlier. The company lowered its expectations for the United States economy..."
Well, with all those job cuts, who wouldn't?
That flush sound you just heard is the U.S. economy going down the toilet, readers -- unless you are a richer, that is!!!!
