Mass Layoffs by Profitable Firms a ‘Horrible Act,’ Diller Says
Posted Dec 10, 2008 11:17am
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"When the Fed is the bartender everybody drinks until they fall down." —Paul McCulley
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
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December 11th, 2008 at 9:30 am
I just had an idea. Profitable companies should maintain boom time staffing levels until they are unprofitable, then hesitantly begin layoffs (after all they could return to profitability any quarter now), then enter a death spiral culminating in Chapter 7 liquidation.
December 11th, 2008 at 4:51 pm
Seriously. The firms that saw this coming and trimmed their payrolls (and debt levels) a bit even before the crisis began are going to be the survivors.
December 11th, 2008 at 9:21 pm
..prompts a rethink of capitalism by whom?