The economy is currently in the middle of a recession and layoffs across the country are still on the rise.
“Home Depot, Caterpillar, Sprint Nextel and at least eight other companies announced on Monday they would cut more than 75,000 jobs in the United States and around the world,” said reporter Catherine Rampell.
Job layoffs started off in home building, mortgage operations and large banking corporations. Now it is affecting technological corporations that thrive on employing well qualified engineers and technicians such as Microsoft that highly invest in their employees.
The lack of sales and needed products is the cause for the lack of work that is needed to be done by paid employees.
The Bureau of Labor Statistics says that, “The United States economy has shed 2.55 million jobs since the recession began, pushing the unemployment rate up to 7.2 percent last month.”
Due to the large number of layoffs, more money is being given to the unemployed and for longer lengths of time through their unemployment checks.
And although stimulus checks are set to be distributed soon, they still may not help employees keep their jobs and get through this recession that is currently upon us.
While these billion dollar corporations are trying to stay in business, the thousands of laid off employees are on the verge of loosing their homes and their stable lives.
Tuesday, January 27, 2009
Tuesday, January 20, 2009
The Media is in love with the Inauguration
The media as of right now is in full effect in order cover the inauguration that is to take place today at approximately 11:30am.
Media coverage will show every aspect and angle of this historical event through the radio, the television, and newspapers.
The Hollywood Reporter says that," this could be the most widely viewed inauguration in U.S. history, surpassing the 42 million who watched Ronald Reagan’s first swearing in." The event can be seen on BET, MTV, TV One and several other major channels on TV.
"This is a critical period in our country’s history," says CBS Evening News executive producer Rick Kaplan, "you want to have your A game on this story.”
This is the day, January 20, 2009, where history is in the making and Americans will finally be able to witness the first black President to be sworn in.
So no matter what TV channel you are on, what radio station you are tuned in to or what newspaper you pick up, today’s inauguration will be covered at best.
Media coverage will show every aspect and angle of this historical event through the radio, the television, and newspapers.
The Hollywood Reporter says that," this could be the most widely viewed inauguration in U.S. history, surpassing the 42 million who watched Ronald Reagan’s first swearing in." The event can be seen on BET, MTV, TV One and several other major channels on TV.
"This is a critical period in our country’s history," says CBS Evening News executive producer Rick Kaplan, "you want to have your A game on this story.”
This is the day, January 20, 2009, where history is in the making and Americans will finally be able to witness the first black President to be sworn in.
So no matter what TV channel you are on, what radio station you are tuned in to or what newspaper you pick up, today’s inauguration will be covered at best.
Monday, January 12, 2009
The CitiBank Crisis
There have been many companies that have been on the verge of bankruptcy or just simply selling the business to the highest bidder. The one company that has taken a hard hit is the company well known for the slogan, "The Citi that never Sleeps". Yet as of right now it looks as though they are sleeping on having a prosperous future.
According to the CNN News, CitiGroup overall has endured about 3.8 billion dollars in lose revenue within their fourth quater. Not to mentin the stock market for the company has also plunged by 17% within the last week.
The Ceo has said that their are plans to make a lot of major changes for the company overall in order to help keep this "OneCiti" to stay afloat. The biggesst impact that this will fall on is the employees of the company, over 50,000 jobs are estimated to be cut over a period of time in order to keep the company from selling any of its' major assetts.
I understand that everyone may look out for themselves in the end but what about the loyal employees who work to help keep these billion dollar operations running yet only get paid pennies on the dollar?
It has become more popular for major corporations to have several job offerings for the people out of the country only because they do not have to pay them as much to work just as hard. And we all sit back and wonder why our economy is falling deeper and deeper in a hole.
NO DISRESPECT TO ANYONE but CitiGroup clients do not like to call the company and have to speak with a representative who can barely speak english. This bizzare transition is not only hurting the employees but the business overall.
Truth be told, the only real success can be found through trial and error. Hopefully this trial dos not last long.
According to the CNN News, CitiGroup overall has endured about 3.8 billion dollars in lose revenue within their fourth quater. Not to mentin the stock market for the company has also plunged by 17% within the last week.
The Ceo has said that their are plans to make a lot of major changes for the company overall in order to help keep this "OneCiti" to stay afloat. The biggesst impact that this will fall on is the employees of the company, over 50,000 jobs are estimated to be cut over a period of time in order to keep the company from selling any of its' major assetts.
I understand that everyone may look out for themselves in the end but what about the loyal employees who work to help keep these billion dollar operations running yet only get paid pennies on the dollar?
It has become more popular for major corporations to have several job offerings for the people out of the country only because they do not have to pay them as much to work just as hard. And we all sit back and wonder why our economy is falling deeper and deeper in a hole.
NO DISRESPECT TO ANYONE but CitiGroup clients do not like to call the company and have to speak with a representative who can barely speak english. This bizzare transition is not only hurting the employees but the business overall.
Truth be told, the only real success can be found through trial and error. Hopefully this trial dos not last long.
Thursday, January 8, 2009
Subscribe to:
Posts (Atom)