February 16 – Ford Credit begins laying off 1200 – Delphi cuts 775 – Congress folds to the Banking Giants – 1000 jobs gone at BMW Mini – Brambles axes 750 worldwide

Mike: Greetings to the daily readers of this blog and to the many new readers that have found this blog through  http://alphainventions.com/ .  Pay a visit to http://alphainventions.com/  to see a wide variety of blogs that you can visit and support their efforts if you can. 

Mike: Here are the larger layoff notices this day:

US/Canada:

International:

Mike: Good day to all and welcome to a new week of layoff announcements and economic reports. Since this is President’s Day in the US, it’s likely to  be a rather quiet day for layoff announcements. The US stock market is closed, so no major economic reports will be released. The most important news will come on Wednesday with Housing Starts , and Thursday with Jobless Claims.   There isother news this day and it’s discussed and listed below:

Mike: Today’s outrage concerns a positing from a wonderful site, Jesse’s Café Américain.  The people behind this informative location seem to be free market enthusiasts that make their fortunes from market gyrations. They don’t appear to be crazed lefties trying to subvert democracy, instead they seem to be demanding that democracy be enforced and not at the people’s expense. I urge you to read the full post, which shows how we the people are being controlled by the powers that be, which includes both the financial kingpins and their government lackeys:

Jesse’s Café Américain Bill Moyers has an interview with former IMF Chief Economist and MIT professor Simon Johnson that is excerpted and linked below.

Simon Johnson’s premise is that the big Wall Street banks represent an oligarchy that is exerting undue influence and control on our government and the economy. They are turning this crisis to their advantage, and circumventing the democratic process.

What we are seeing looks to Simon Johnson like a financial coup d’etat.

Now is the time to break up the big money center banks. Now is the time to reinstate Glass-Steagall. We must demand the reforms for which we elected the Obama Administration.

Watch this interview. Think about it. Let other people know. Write your congressmen.

And be prepared to act on a larger scale in a peaceful way to get the point across that we value our liberty and we will stand for justice. We are not optimistic that the government will do the right thing without more prodding and significant support from the public.

via Jesse’s Café Américain: America vs. the Oligarchs.

 

Mike: As i mentioned in my post last week

Mike: Between spineless Democrats and thug, obstructionist Republicans we as a country are represented very poorly. The thieves keep their outrageous bonuses and their jobs. I’m sure the behind closed doors meeting had something to do with campaign contributions being held back if Congress demanded the Wall Street crooks repay some of the millions in bonus cash:

Congress Removes Provisions to Limit Wall Street Bonuses “Behind Closed Doors” Without Explanation *

The Democrats talk a good game, but their record of reform and renewal after winning the Congressional elections and then the Presidency is pathetic.

Nancy Pelosi is useless as House Speaker. Barney Frank is all talk and little action. The Democratic leadership should be replaced along with about half the remaining Republican congressmen.

Ok, Obama how about some transparency on this one. And better yet, can we see a single reform that improves the system, other than firedrills to shore up the status quo?

via Jesse’s Café Américain: Congress Removes Provisions to Limit Wall Street Bonuses “Behind Closed Doors” Without Explanation.

 

Mike: Now why would Congress become fawning jesters before the banking elites that they supposedly control through legislative control? As this story unwinds, it appears that the banking powers have told their congressional lackeys that if they are forced to change their ways that they will make the entire house of cards, that they created, fall and take down the system as we know it. Congress is no longer able to demand transparency or accountability, since they are the puppets controlled by the financial puppeteers

 

I urge you to contact your congressional representative and demand that they hold accountable those who are responsible for the corruption, fraud, mismanagement and outright criminal conduct, which created this financial Armageddon. Without you putting pressure on your feckless, fawning, congressional fools, the powers that be will continue to destroy you financially while walking away with billions in bonuses. A number of years ago, I told a friend that the money men get the bonuses, whlie the people get the bone us. It’s time to make a stand against the money men or we wil become slaves to their taxpayer theft tactics. Contact your congress critter at:   and let them know you are tired of being used for the benefit of the money men: http://www.congress.org/congressorg/directory/congdir.tt.

 

 

Mike Keefe - Feb 13

Mike Keefe - Feb 13


 

Onto the news of the day:

             

 

Microsoft/Google/IBM and other Rumors & News

 

msft1* Microsoft plans to follow Apple’s lead and open its own chain of retail stores. But judging from the initial press release announcing the stores, there may be some very big problems ahead. I’ve got details in my blog.

Microsoft announced that it will be rolling out a chain of retail stores, and hired David Porter to be Corporate Vice President of Retail Stores. In the press release, here’s what Microsoft said its goal is in launching the stores:

via New Microsoft stores: Cursed from birth? – Computerworld Blogs.

 

General Economic News

 

* TOKYO (AP) — Strangled by the collapse in global export demand, Japan’s economy shrank at its fastest rate in 35 years in the fourth quarter and shows no signs of reversing course anytime soon.

Japan’s gross domestic product contracted 3.3 percent from the previous quarter, or an annual pace of 12.7 percent, in the October-December period, the government said Monday.

That was worse than expected and the steepest slide for Japan since the oil shock in 1974. It is more than triple the 3.8 percent annualized contraction in the U.S. in the same quarter.

via Japan economy shrinks at fastest rate in 35 years – Yahoo! Finance.

 

* Congressional members from Massachusetts and New Hampshire are again lobbying the Internal Revenue Service to delay a planned closing of a tax-processing facility in Andover, saying it would be “inappropriate” to lay off the estimated 1,400 employees there while the US government is trying to preserve jobs with a multibillion dollar economic stimulus package.

via IRS urged not to close Andover center – The Boston Globe.

 

* Former President Bill Clinton: I think that the only thing that our administration did or didn’t do that we should have done is to try to set in motion some more formal regulation of the derivatives market. They’re wrong in saying that the elimination of the Glass-Steagall division between banks and investment banks contributed to this. Investment banks were already…banks were already doing investment business and investment companies were already in the banking business. The bill I signed actually at least puts some standards there. And if you look at the evidence of the banks that have gotten in trouble, the ones that were most directly involved in there … in a diversified portfolio tended to do better.

 

 

Tom Toles - Feb 15

Tom Toles - Feb 15

 

 

Municipal News

 

* Manteca’s 385 municipal workers are agreeable to taking a 3.8 percent pay cut starting in July to help the city weather its approaching budget crisis.

The city – which has been running against the tide of dropping property and sales tax on borrowed time thanks to a $6.2 million infusion this year of bonus bucks paid by developers for residential sewer allocation certainty – has a projected $11.3 million budget deficit brewing in the fiscal year starting July 1.

via City workers agree to 3.8% pay cut.

 

* School District 9 is planning to cut up to 12 school days between now and the end of school, due to a lack of funds.

“All district employees will be impacted by these cuts,” said Superintendent Cynda Rickert.

via Upper Rogue Independent – District 9 will cut 12 days by June; 36 staff in 2009-10.

 

US and some Canada News

 

delphi2Delphi Steering will lay off 775 employees, about 21 percent of the Buena Vista Township complex’s work force.

Management and union leaders this morning told workers that 425 hourly and 350 salaried employees will lose their jobs in the coming weeks.

“We’ve anticipated this for some time,” said Mike Hanley, president of United Auto Workers Local 699, which represents about 2,400 hourly workers at the facility.

via Delphi Steering in Buena Vista Township cuts 1 in 5 workers – Mid-Michigan Business News – Flint, Saginaw, Bay City Business – MLive.com.

 

delphi1* BUENA VISTA TOWNSHIP, Mich. — Nearly 800 jobs are being eliminated at the steering division of Delphi Corp. near Saginaw.

The cuts announced Monday are hitting 425 hourly workers and 350 employees who are on salary at the Delphi complex in Buena Vista Township. They will kick in March 1.

via Nearly 800 jobs axed at Delphi’s steering division | detnews.com | The Detroit News.

 

ford1* Layoffs begin this week at Ford Motor Credit, the lending arm of Ford Motor Co.

The Detroit News has learned that layoffs, which first were announced last month, will come this week.

The Dearborn automaker plans to eliminate some 1,200 jobs, or 20 percent of the total work force, at Ford Credit to reduce costs as it struggles to return to profitability in 2011.

via Ford Motor Credit will cut 1,200 jobs | detnews.com | The Detroit News.

 

* SPRINGFIELD — There will be more layoffs at a stainless steel fabricating company. Paul Mueller will cut 44 jobs from its plant.

The business let 46 other employees go within the past two weeks. Company officials cite poor economic conditions, including the decline in milk prices, for the cutbacks.

via Paul Mueller will cut 44 jobs | KY3 | Local .

 

* CLINTON, Iowa – A Camanche company has announced it will lay off 75 people from its plant, less than a year after it was actively hiring.

TMK IPSCO vice president Ray Rarey says the tubular facility fell victim to the same market forces forcing layoffs nationwide, as well as a downturn in demand.

via Camanche plant to lay off 75 — chicagotribune.com.

 

* Challenger Financial Group might cut more jobs as it looks for further cost savings and efficiencies.

“Headcount continues to be our focus,” Challenger chief financial officer Brian Benari said at the group’s half-year results presentation yesterday. “We will continue to drive synergies.”

In the 2008 calendar year Challenger cut 174 positions or 18 per cent of its workforce.

via Challenger flags more job cuts.

 

* Watry Industries Inc. has warned state officials that layoffs are possible at the company’s Sheboygan plant in the coming weeks.

Cindy Detiege, the company’s human resources manager, said it’s too early to say just how many could be laid off. Watry has cut 24 workers since late last year because of the recession.

via Watry Industries files layoff notice | sheboyganpress.com | Sheboygan Press.

 

* Wyoming Seminary is eliminating 10 to 11 employee positions for the 2009-2010 school year, according to President Kip Nygren, in an effort to trim staffing about 5 percent to 6 percent.

via Wyoming Seminary announces staff cuts | News | citizensvoice.com | The Citizens’ Voice .

 

* A mining town in western Labrador will be hit hard when anticipated layoffs take effect Monday, a union leader says.

About 125 workers with Wabush Mines will be laid off Monday, as the company follows through with job cuts announced in December, amid a steep slump in demand for steel. Wabush Mines will continue production with about 240 workers.

via Scheduled layoffs take effect at Labrador iron ore mine .

 

* MOLINE, Ill. — Deere & Company announced an adjustment to the number of employees who will go on indefinite layoff later this month at the John Deere Davenport Works.

Deere said it was adjusting the total employees impacted by this layoff to 200. Last month, Deere said 190 employees would be affected.

via Deere adjusts Davenport layoff total | Farm and Dairy – The Auction Guide and Rural Marketplace.

 

International News

 

motorola* Telecom equipment manufacturer, Motorola has reportedly laid off about 1000 professionals from its R&D unit in Wangjing, China. While the company says the exact count is not available for the Chinese unit and the lay-offs are part of the originally announced 4,000 job cuts across the globe, reports from the region put the figures at 1,000.

via Motorola lays off 1,000 employees from its Chinese R&D facility .

 

mini3* BMW is to cut 850 jobs at the Mini factory in Cowley, near Oxford. The plant will now work a five-day week rather than all week round, with a two-shift pattern rather than three shifts for its remaining workers.

A further 150 jobs are to go at the Cowley plant’s supplier facility in Swindon. 

via 1000 jobs to go at Mini – Latest Car News from 4Car.

 

 

mini4Update: THE car industry has been dealt another hammer blow after when Mini announced 850 job losses in the face of plunging sales, prompting anger from workers and fresh calls for Government action.

The BMW-owned firm said all the losses will affect agency workers at its giant factory in Cowley, near Oxford, where the current weekend shift is to be axed.

via WalesOnline – Business – Business News – Mini cuts 850 from its workforce.

 

 

* Brambles Ltd (BXB.AX), the world’s top pallet supplier, missed forecasts with a 28 percent drop in first-half profit after taking a big charge due to a sharp deterioration economic conditions and flagged 750 job cuts over the next year.

 

* NEW DELHI: The global layoffs by tech MNCs have started spilling to their Indian operations. IT giant Sun Microsystems reportedly laid off over 150 employees in India around late in January.

via Sun Micro lays off 150 in India – Hardware-News-Indiatimes – Infotech.

 

Boom Logistics Ltd will lay off 31 staff from its mobile crane unit in Melbourne, as part of restructure to return the business to profit.

via Business Spectator – Boom Logistics lays off 31 staff in Melb.

 

* Photographic retailer Jessops has confirmed that it is to close 17 stores – 12 of them in Scotland.

via BBC NEWS | UK | Scotland | Glasgow, Lanarkshire and West | Jessops to cut 12 Scottish stores.

 

suncorpSuncorp has cut 20 staff from its super and investments division within the company’s wealth management business unit, a Suncorp spokesperson has told InvestorDaily.

via Suncorp cuts 20 staff.

 

* Dunnes Stores is seeking 60 voluntary redundancies among its store managers as it attempts to drive down costs in the face of continuing competitive pressure.

via Dunnes to axe 60 managers in bid to cut costs – National News, Frontpage – Independent.ie.

 

About 400 people have been stood down after Drivetrain Systems International in Albury, Victoria went into administration yesterday.

 

Hiring News

 

* Dallas, Texas February 14, 2009 — Despite the recession, Limestone Networks, Inc., a technology company based in downtown Dallas, TX, expects to grow significantly in 2009. To meet the growth, the company is making plans to add more staff .

“While many companies are scaling back and laying people off, our company is experiencing phenomenal growth,” says CEO Gary Kendall. “In fact, we have seen a sales and revenue increase that is more than 300% above last year’s numbers month over month.”

via HostReview : Web Hosting News : Limestone Networks eyes expansion, new hiring in 2009.

 

Mike: This has been the quieties layoff day in the short history of The Layoof List. Let’shope that the remainder of the week is as quiet as today…………

 

 

Dilbert - Feb 15

Dilbert - Feb 15

 

 

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