DuPont to cut 1,500 jobs after 3Q profit slide

AP via Yahoo News ^ | 10/23/12 | Randell Chase

[Kartographer]

Chemical maker DuPont is cutting 1,500 jobs and says it will take other steps to increase competitiveness after a third quarter in which earnings fell sharply. The Wilmington company reported net income of $10 million Tuesday, or a penny per share, compared with $452 million, or 48 cents per share, for the same period last year.

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin’ msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Feeling my blood—
It’s beginnin’ to boil.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it’s Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven’t a clue.

Wasted away again in Obamaville,
Searchin’ for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,— hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin’ for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it’s my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it’s my own damn fault damn fault.

[John W]

Someone not following Obama’s directions as to announcement timing.

[rovenstinez]

Accurate statement. And if Mr. Obama is re elected, then there will be a lot of people getting their pink slips, and then he’ll have the crisis he always wanted to carry out what he planned. He’ll be able to give Putin what he promised on the 2nd term, the emphasis NOW is just to get re elected.

[rovenstinez]

Accurate statement. And if Mr. Obama is re elected, then there will be a lot of people getting their pink slips, and then he’ll have the crisis he always wanted to carry out what he planned. He’ll be able to give Putin what he promised on the 2nd term, the emphasis NOW is just to get re elected.

[LibsRJerks]

Right now it’s just a cut. Later, if O is relected, it will be a hemmorhage. Our establshed and reputable industry giants — they’ll all be going down the drain.

[762X51]

WOW! Reading the article you wonder if DuPont can even remain in existence. I may not understand this correctly but my take on this is that they made only 1/45th of what they made same quarter last year??? Those numbers seem unsustainable. A drop of 5% would cause concern, a drop in business of 25% would cause panic but a drop of 99.02% would seem like it’s time to close the doors.

[Sir Napsalot]

Sympathies to the workers, I was laid off by the same company first of this January.

Not the management and executives. DuPont exemplified the worst Crony Capitalism.

If you want more confirmation, search Obama’s laughing ‘shovel ready jobs not as shovel ready’ photo, DuPont CEO at his righthand side, Imelt at his left. All three thought the JOKE hilarious.

[Hillarys Gate Cult]

Dupont? Delaware? Wasn't a semi famous Senator and VP from there and a was a big supporter of that company.

[Vaquero]

In the words of slick Willie

IT’S THE ECONOMY STUPID!!!

[KC_Conspirator]

How is that Hopey Changey working out for ya?

[cherokee1]

Easy, easy it’s not quite as bad as that. The drop was in NET INCOME, not total or gross income. Obviously gross income dropped some but it’s unsaid whether the drop in net income came from reduced business or lower margins. To keep the machines running I expect Dupont cut their prices first, before they let their volume slide. It’s not like the bottom fell out of the polyester underpants market. Not sayin’things are great but it’s necessary to read carefully what they are actually saying.