Current Financial News

Companies need to stop with the layoffs

 I have to rant here. Why does it seem like laying off thousands of employees is the new fad for CEO’s?

It’s become a daily topic in the news. What company laid off employees today? Earlier this week, Microsoft announced they are laying off 5,000 employees. This is after reporting $4 Billion in earnings.

How is that supposed to help the economy Microsoft? When you lay off 5,000 employees, you’re just adding to the problem.  If the average MSFT employee earns 80k a year, that’s $400 Million dollars that’s not going to be spent in the economy. These 5,000 employees are going to stop eating out, buying clothes, and consuming in general. Maybe in the short run it will help profits, but you’re damaging the economy and your own company in the long run.

Mcdonald's (MCD) Two for Three is paying off

McDonald's quest for world domination gets closer and closer every day.

McDonald's Corp.'s (MCD) Q4 earnings topped Wall Street estimates as the fast-food giant's global sales were driven by customers who find the food chain's offerings a cheaper alternative in troubled economic times.

Cheap US takes a moment to look at 13 Companies that once commanded massive market caps with promising futures, but since the downfall in 2008 and into 2009, these stocks find themselves trading under $1.

More Job Cuts at Starbucks (SBUX)?

Starbucks - Buddy JesusPoor Starbucks Corp. (NASDAQ:SBUX) its bad enough shares are now $9, now everyone is saying they are going to cut 1,100 more jobs. Starbucks laid off more than 1,000 workers last year. In November, it decided to eliminate 135 more jobs, including 85 in Kent and Seattle.  Thumbs up Jesus!

Liquidation Nation provoking article on Slate this week, enjoy

Circuit City, Linens 'n Things, and Sharper Image are gone. What company is next to go under? 

Earlier this month, Circuit City, the 567-store electronics retailing giant that filed for bankruptcy protection in November, announced it was going to liquidate. It's closing all its stores and laying off its 34,000 workers.

General Electric (GE): Dividend or Bust

General Electric Garbage Can TrashGeneral Electric (NYSE:GE) is down to $12.53, that makes for a 6 month decline of 57%Nice.  Profit fell 44%, 2009 will be "extremely difficult", and the stock now has a 9% Dividend yield.  So is it a bargain, or is it junk?

Zale Corp (ZLC) loses the family jewels

Zale Corporation (Public, NYSE:ZLC), retailer of overpriced fine jewely, has hit an all time low on Wednesday, dropping to just $1.42 a share.

Talk about a stock you don’t want to have in your portfolio during struggling economic times.

Jeff SpicoliWhat do they have in common? 
The last time jobless claims were higher was in 1982 and that takes us right back to Mr. Hand's Class when Jeff Spicoli said:
This is U.S. History, I see the globe right there.

Times are bad, but they are Fast at Ridgemont.


Bill Gates Early DaysBill Gates is not big pimping today like he did in the past, lying around counting his money.  Microsoft (NASDAQ:MSFT) shares are beyond their 10 Year Low today, trading now in the $17 range.  The company is letting 5,000 workers go and CEO Steve Balmer may be the next to go.

Apple Inc. Back to $89 a Share

iPod KamodeApple Inc. (NASDAQ:AAPL) beat Profit expectations and after-hours AAPL shares are up 8.5% to $89.  The iPod is still King and sold 22.7 million media players, up 3% and far exceeding Wall Street's expectations.