This is on the FRONT-PAGE of the business section:
"Consumers let cash flow, just a bit; Election sways plans for holiday spending" by Jenn Abelson and Erich Schwartzel, Globe Correspondent | November 6, 2008
CAMBRIDGE - Belo Makhene got up this morning feeling "awesome" following the election of Barack Obama as president and decided to celebrate - at the mall.
So, the 23-year-old Medford resident headed to Best Buy at CambridgeSide Galleria, where he bought a $13.99 CD by rap star Young Jeezy titled "The Recession." The CD, which makes a reference to Obama in "My President," is inspirational, he said. And it was the first discretionary purchase Makhene had made in months. --more--"
Yup, Obama's election fixed the economy!! I guess that's why stocks dropped 1,000 points the last two days.
And what do I find upon the page flip?
"First Marblehead cuts 24% of workforce to pare costs
First Marblehead Corp. said it reduced its employee headcount 24 percent in an effort to reduce costs. A company spokesman wouldn't say exactly how many jobs it has eliminated or how many remain at the troubled Boston education finance firm, which had 368 full-time employees at the end of June. That was less than half its employment in May, before it slashed 500 jobs. The company has become a casualty of the credit crunch that began last year, which made investors reluctant to buy packages of securities including the student loans that First Marblehead bundled and arranged for sale."
Baystate Health to cut jobs due to budget shortfall
The Western Massachusetts healthcare network that runs Baystate Medical Center in Springfield says a $37 million budget gap is forcing it to cut 55 jobs and eliminate 120 vacant positions. Baystate Health said it will also enact a hiring freeze for nonclinical positions and wait until the economy improves before moving ahead with financing for a major expansion. Baystate says it's been hit hard by the economic downturn, reductions in Medicaid reimbursements, and falling numbers of patients. The projected shortfall represents about 2.3 percent of its budget for the current fiscal year. The company, which employs about 10,000, also operates hospitals in Ware and Greenfield and runs several regional health centers."
Well, THAT SURE CUTS CLOSE to HOME!! And the care already sucks.
Toss these jobs into the mix, too:
WASHINGTON - Service industries in the United States contracted the most on record in October as credit dried up and consumers reined in spending. --more--"
Yeah, about that credit crunch:
U.S. Banks Driving Credit Crunch ON PURPOSE!!
"The administration had been pressuring the banks to restrict lending over the past few weeks, and that reduced credit is what they ultimately used as justification to press for this “fix”
"Banks may continue to hoard their dollars regardless of a rescue package from Washington.... reflecting the unwillingness of financial institutions to part with their dollars as the reckoning from an age of speculative excess goes on.... analysts said the jitters would probably remain, with banks continuing to hang on to their dollars and more jobs evaporating from American life."
Yup, TRILLIONS for WARS and BANKS and BILLIONS for ISRAEL, yet NUTHIN' for the American people -- and I am tired of typing it AmeriKa! Go wallow in shit, you damn bastards!
