A Girl into Purls

Who’s next for job cuts?

Filed under: Uncategorized — agirlintopurls October 30, 2008 @ 9:26 pm

NEW YORK (CNNMoney.com) — As the impact of the economic crisis takes hold, employees from Wall Street to Main Street are feeling nervous about their jobs, and with good reason.

As of September, 760,000 jobs have already been lost this year, according to data from the Bureau of Labor Statistics.

And a quarter of U.S. employers expect to make layoffs in the next 12 months, according to a recent report by consulting firm Watson Wyatt.

But which industries will suffer the most? Experts say certain sectors are more vulnerable to layoffs than others.

Housing: Jobs in the housing sector were the first to go when the mortgage meltdown took hold. But with the industry outlook at an all-time low, even more layoffs could follow.Beyond mortgage lenders and homebuilders, jobs in commercial real-estate and at real-estate agencies will be the next to go, according to Dean Baker, director of the Center for Economic and Policy Research in Washington, D.C.

With the worst September for new home sales since 1981, "some of the big [real-estate] chains will do some consolidation," Baker said, "clearly you need fewer offices," Baker said.

Finance: Few in the financial sector are feeling secure about their positions. The latest employment figures from the Department of Labor show financial firms have eliminated an estimated 110,000 jobs over the past year through September, and experts say there will be even more losses in the months ahead.

As financial firms reorganize and consolidate, there are going to be a lot more layoffs, Baker said.

"Financial services firms have cut tremendously and I don’t think that’s over," echoed Lee Pinkowitz, associate professor at Georgetown University McDonough School of Business.

Retail: Before the credit crunch, retailers were already struggling with soft sales as high gas prices and falling home equity forced consumers to curtail non-essential purchases. Now retail sales are dismal heading into the holiday season. "This could be the weakest holiday hiring season since 2001," said John Challenger, chief executive of global outplacement firm Challenger, Gray & Christmas, and that’s not good for those employed in the retail industry.

"I doubt we’ll see the pick up in seasonal hiring that we’d normally see," Pinkowitz said.

But while department stores and high-end boutiques may be particularly hard hit, discount retailers, like Wal-Mart (WMT, Fortune 500) could fare well in the current climate, Challenger said. Wal-Mart is also the nation’s largest private-sector employer, and could be a safe haven for those who work there.

Publishing: As consumers cut back, advertisers follow, and that means tough times for print publications, including newspapers and magazines, experts say. According to Bureau of Labor Statistics data, employment in the publishing industry has been contracting since the beginning of last year.

But the "grand decline" of jobs in the media industry, which also includes broadcast and digital media, began with the dot-com bust in 2001, noted Heidi Shierholz an economist at the Economic Policy Institute, a research group based in Washington. Now a loss of jobs in traditional publishing is being exacerbated, in part, by the move away from print toward digital media.

"Every time you have a recession it pushes companies that have been holding on by their fingernails out of business," Challenger said. "It clears away an old generation of companies and I think we’ll see that with print."

Autos: While sales at the Big Three automakers have fallen 20% this year and are likely to tumble further, trouble in the auto sector is not confined to manufacturing. All told, about 2 million Americans work in the industry.

While declining sales will likely lead to more job losses, those in "the tentacles of the auto industry" could be particularly hard hit in the coming months, Pinkowitz said, which includes those jobs at dealerships and suppliers.

Travel: Airlines have already announced layoffs across the board, but as consumers and businesses continue to scale back discretionary spending on travel, the implications go far beyond flying.

"All the industries under the umbrella of travel are going to be at risk" Challenger said, including rental cars, hotels and even restaurants.

If people are cutting back, travel and leisure activities are the easiest things to do without, explained Baker. Big restaurant chains will close locations, he said, which means eliminating many wait staff and service jobs, while some smaller restaurants will be forced out of business entirely.

But despite the mostly doom-and-gloom predictions, some say there are some bright spots ahead for American workers.

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Filed under: Uncategorized — agirlintopurls @ 11:12 am

Climate Change v Global Financial Crisis

Today, Treasury will release its modeling on climate change. It is believed the modelling will support the Rudd Government’s call to introduce an emissions trading scheme in 2010.

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Industry and the Opposition aren’t quite so sure and call for the Government to put the emissions trading scheme on the back burner at least while the nation wades through the mire of global recession.

Are these two major defining issues of the times mutually incompatible?

Will the emissions trading scheme cause further pain to resource companies and ultimately put the Australian economy into recession?

Join me at midday today to discuss the battle between the global financial crisis and the emissions trading scheme.

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Filed under: Uncategorized — agirlintopurls October 28, 2008 @ 4:26 am

Before They Were Stars: Halloween Edition

i can’t believe it ordain already be halloween on friday! and in the resolution of halloween i thinking we would play before they were stars: halloween printing. who is in this halloween witch costume? she better not show this impression on her fact bestow make an exhibit! bring to light inoperative who it is… it’s lauren conrad! “i as a matter of fact liked the …

‘High School Musical 3′ rules

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crazed killer jigsaw has been done in by a bunch of singing and dancing teens. disney’s high school musical 3: older year hoofed its something like a collapse to the refresh of the weekend box office class with $42 million, while lionsgate’s antipathy sequel platitude v had to settle for second place with $30.5 million, according to estimates sunday.
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Filed under: Uncategorized — agirlintopurls October 26, 2008 @ 8:28 am

TV Recap: Life - Did You Feel That?

holy earthquakes on this week’s survival, shaking up everything and then some. arthur tims, the first guy reese and crews arrested together, escaped from jail. all the police computers are down. ted got a pencil stuck in his close. and there was an awkward yet not unwelcome kiss.

NBC picks up 9 more Knight Rider TV episodes

it’s nearly unwatchable, it’s corny, it doesn’t do justice to the age-old show (with the hoff) and it objective won’t go away. the newly reborn version of the knight rider tv divulge has gotten the green light proper for 9 more episodes….

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Filed under: Uncategorized — agirlintopurls October 22, 2008 @ 10:41 pm

MILEY CYRUS, SHIA LaBEOUF, MEGAN FOX and ZAC EFRON have viagra online been named among the hottest actors under 25

miley cyrus, shia labeouf, megan fox and zac efron have been named middle the hottest actors under 25.the annual hottest 25 under 25 receive by moviefone chooses the young hollywood stars most likely to be massive in 10 years time.others to feature in the list list juno actor ellen point, scarlett johansson, keira knightley and megan fox.also hotly tipped are mamma mia!’s amanda seyfried, harry potter stars emma watson and daniel radcliffe, and hold together bit of skirt gemma arterton.
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Historian: 1929 all over again?

Filed under: Uncategorized — agirlintopurls October 21, 2008 @ 9:41 pm

(CNN) — Friday marks the 79th anniversary of the day that launched the stock market crash of 1929.

As an unprecedented wave of selling threw the floor of the New York Stock Exchange into pandemonium on a day that became known as Black Thursday, a show of organized support by a coterie of leading bankers halted the panic. But on the following Monday, the market collapsed in a tsunami of selling.

Every intense convulsion of the stock market raises primal fears spawned by the Great Crash of 1929 and the ensuing Great Depression, which dragged on for a full decade and has haunted Americans ever since.

The Panic of 2008 is no exception.

In the past year, the market’s fall has at times rivaled that of 1929. Are there connections or similarities between those earlier national traumas and our current crisis?

First some facts about that earlier experience. The Great Crash and the Great Depression were two separate events. The Crash was a financial panic, the Depression an economic downturn. The one does not necessarily lead to the other; the market has collapsed several times in American history without bringing on a depression. Great Depression holds lessons for surviving a tough economy

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The Crash began in October 1929, and the worst of it was over in three weeks; the Depression did not fasten itself on the nation for another year. To this day, the connection between them remains unclear, which makes it difficult to draw lessons or analogies from them.

The Dow plunged 39 percent between October 23 and November 13, 1929, but it regained 74 percent of that loss by March 1930. Only when the economy failed to gain momentum in the spring did the market slip back.

By fall the country had slipped into a depression, and the market resumed a downward course that did not touch bottom until July 1932. It did not again return to the levels of 1929 until 1954.

The Depression did not end until increased viagra kaufen ohne rezept military spending revived the economy in the spring of 1940.

The bull market of the 1920s was unique in that it marked the first time large numbers of ordinary people participated. The market moved from Wall Street to Main Street and aroused intense interest even among people who were not active in it. The new investors, or "fish" as the pros called them, were prone to panic when the market fell sharply.

Could it happen again? History never repeats itself, but historical patterns do — though always in a new context. Here are just a few of the similarities and differences between the earlier crisis and its modern version.

During the 1920s, the financial industry underwent a great expansion, bringing into the business many inexperienced people and new investment vehicles — most notably the investment trust, the forerunner of the modern mutual fund. Nobody knew what impact they would have on the market with their buying and selling on a large scale.

The business world hailed the 1920s as the "New Era," one with new rules in which the old pattern of cyclical depressions would no longer occur and prosperity would be continuous. Compare this delusion with the "New Economy" of the 1990s.

The 1920s marked the beginning of the consumer economy, and with it a broad expansion of credit. Installment buying made its debut on a large scale. Credit also was used to buy stocks on margin, greatly increasing the market’s volume and volatility.

The banking system was shaky throughout the 1920s, and failures escalated steadily after 1929. The Crash exposed many cases of fraud that led to investigations and passage of the most significant banking reform in American history.

The Glass-Steagall Act of 1933 created the Federal Deposit Insurance Corp., or FDIC, gave rise to the Securities and Exchange Commission, or SEC, and separated investment banks from commercial banks. The latter reform was repealed in 1999, giving banks free rein to perform both activities once again.

Some differences between the eras are worth noting. Prior to 1933, the federal government played virtually no active role in relieving the banking crisis of the 1920s. The stock market did not have giant institutional buye

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Filed under: Uncategorized — agirlintopurls October 15, 2008 @ 11:38 am

Jessica Simpson wants to turn her vagina into a clown car

worried apropos the country’s imminent fiscal collapse? here’s something to take your mind supplied of it?and move at you much more fearful about the time to come. ok! journal reports: tony romo better rest up, because jessica simpson doesn’t just neediness a child ? she wants six of them! “i’d love six kids running around, but i think i’ll have to start incredibly soon,” the “do you know” artist told australia’s daily telegraph. it’s a tough invitation on how to feel with reference to this. on one hand, jessica simpson’s breast genes would dynamic on in unborn generations. on the other hand, so would the rest of her genes. and any child of jessica simpson’s probably wouldn’t be able to find the birth canal and would be doomed to an existence of wandering around her womb, bumping its head against her uterus, which probably wouldn’t be healthy for either of them. before she makes any rash decisions, dialect mayhap she should consult one of the sundry parenting books within reach, such as the highly regarded ideal, dr. spock’s guide to why he will come back from the weighty and personally sterilize jessica simpson if she ever decides to reproduce. photos: wenn

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