Free Republic 3rd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $26,735
31%  
Woo hoo!! And the first 31% is in!! Thank you all very much!!

Keyword: bhoeconomy

Brevity: Headers | « Text »
  • Study: More than 35 percent of Americans are facing debt collectors

    07/29/2014 9:25:40 AM PDT · by SeekAndFind · 24 replies
    The Week ^ | 07/29/2014 | Meghan DeMaria
    A study released by the Urban Institute on Tuesday found that more than 35 percent of Americans have unpaid bills and debt that has been reported to collection agencies.The debts surveyed include everything from gym memberships to auto loans. The study, which looked at records from September 2013, found that 35.1 percent of people with credit records had been reported to collection agencies. The average debt was $5,178.The Associated Press notes that while America has decreased its credit card debt, the percentage of Americans in collections has remained roughly the same. In 2004, a Federal Reserve study found that 36.5...
  • Merck Announces Another Round Of Layoffs [Another 600 positions in Montgomery County, PA]

    07/29/2014 10:25:00 AM PDT · by SeekAndFind · 15 replies
    CBS Local ^ | 07/29/2014 | Brad Segall
    NORRISTOWN, Pa. (CBS) — A major pharmaceutical company is planning another round of layoffs that again will hit Montgomery County hard. On the heels of more than 650 job cuts at its West Point manufacturing and research plant in late 2013 and earlier this year, Merck plans to let go another 600 employees by the end of August. The company has already filed notices with the Pennsylvania Department of Labor which says the jobs are being cut in North Wales and Lansdale. County Commissioner Josh Shapiro is disappointed with the news, but says they’re working to help those affected.
  • US new-home sales plummet in June

    07/24/2014 8:09:04 AM PDT · by wbill · 29 replies
    Yahoo Finanace ^ | 7/24/2014 | AP
    WASHINGTON (AP) — Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday. The report also revised down the May sales rate to 442,000 from 504,000. (snip)
  • More Than 1,400 Workers In Pike County, Ohio, To Receive Possible Layoff Notices (Fluor B&W)

    07/18/2014 7:25:16 PM PDT · by 2ndDivisionVet · 4 replies
    WCHS-TV ^ | July 18, 2014 | Sean Delancey and Jeff Morris
    Piketon , Ohio - Roughly 1400 people woke up to bad news Thursday morning. It's called a warn notice, and it means their livelihood is on the line. "These are the higher paying jobs in the area," Herman Potter said. But those jobs are now in jeopardy. Herman Potter is president of the Steel Workers Union in Piketon, Ohio. His employer, Fluor B&W issued a warn notice, stating layoffs are possible. Fluor B&W was hired by the Department of Energy to clean the former Portsmouth gaseous diffusion plant and re-industrialize the property three years ago. The way things stand now,...
  • We’re in the third biggest stock bubble in U.S. history

    07/17/2014 8:19:18 PM PDT · by RC one · 21 replies
    Market Watch ^ | July 17, 2014, 7:27 a.m. | Brett Arends's ROI
    1853, 1906, 1929, 1969, 1999 Pass the question around your office. Call your money manager and ask him or her, too. Post it on your office notice board. Give up? Those were the peaks of the five massive, generational stock-market bubbles in U.S. history. Investors who bought into stocks around those peaks ended up earning terrible returns over the subsequent 30 years. Forget “stocks for the long run.” They ended up with “stocks for a long face.” The bigger the bubble, the worse returns. And, according to a new research report, we are back there again. U.S. stocks are now...
  • Will Obama finally get some credit for the improving economy?

    07/03/2014 1:44:38 PM PDT · by Oldeconomybuyer · 36 replies
    Washington Post ^ | July 3, 2014 | BY PAUL WALDMAN
    Today’s jobs report was a very good one: 288,000 new jobs were created in June, and the unemployment rate fell to 6.1 percent. So will Barack Obama get the credit? Probably not. First of all, we shouldn’t get too excited; there are still a lot of people looking for work, there are a lot who have gotten discouraged and dropped out of the labor force, and there are a lot working part time when they’d rather have full-time jobs.
  • Gas Prices Extend Painful Record: July 4 Marks 1,290 Days above $3-a-Gallon

    07/02/2014 11:04:20 AM PDT · by Cheerio · 17 replies
    CNSNews ^ | July 2, 2014 | Julia Seymour
    This Independence Day weekend, drivers won't see any relief from high gas prices. Although prices retreated by a fraction of a cent at the beginning of the week, AAA predicts holiday travelers will pay the most at the pump since 2008. In its monthly gas price report released June 30, AAA said, "With Independence Day only a few days away, today's national average price of gas is $3.68 per gallon. This average is considerably more expensive than recent years for the holiday. The national average on July 4 in previous years was: $3.48 (2013); $3.34 (2012); $3.57 (2011); $2.74 (2010);...
  • Billionaire Tells Americans to Prepare For 'Financial Ruin' (Trump)

    07/01/2014 7:05:33 PM PDT · by driftdiver · 97 replies
    Moneynews ^ | June 30, 2014 | Newsmax Wires
    The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin. That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.” According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.” He goes on to point out that the downgrade...
  • Guess Who Is Propping Up The US Housing Market

    06/23/2014 8:14:51 AM PDT · by PoloSec · 13 replies
    Zero Hedge ^ | June 23 2014 | Tyler Durden
    A month ago we showed a chart that, in our humble opinion, summarized all that is wrong with the US housing market. The chart in question showed the April breakdown of existing home sales on a Y/Y basis by pricing bucket.   Needless to say, what the chart showed was the symptomatic, and schizophrenic, breakdown of US housing into two camps: the housing market for the 1%, those costing $750K and above, where the bulk of transactions are mostly between non-first time buyers, and typically take place as all cash transactions, and the market for "everyone else" which continues to...
  • Joe Biden: U.S. needs ‘constant, unrelenting stream’ of immigrants (Happy Bastille Day!)

    06/11/2014 5:50:44 PM PDT · by equalator · 36 replies
    Washington Times ^ | 6-11-2014 | Cheryl K. Chumley
    Vice President Joseph R. Biden told a National Association of Manufacturers’ crowd this week that what the United States needed was more, not fewer, immigrants. Specifically, he called for a “constant, unrelenting stream” of new immigrants — “not dribbling [but] significant flows,” to bolster the national economy, The Hill reported.
  • U.S. Gasoline Consumption Plummets By Nearly 75%

    05/31/2014 11:02:00 AM PDT · by blam · 55 replies
    Zero hedge - BullionBullsCanada ^ | 5-31-2014 | Jeff Nielsen
    Tyler Durden 05/30/2014Submitted by Jeff Nielsen via BullionBullsCanada blog, Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral. However, even that previously published data, and the grim analyses which accompanied it could not prepare me...
  • U.S. Retail Economic Death Rattle Grows Louder

    05/26/2014 10:54:28 AM PDT · by blam · 42 replies
    The Market Oracle ^ | 5-26-2014 | James Quinn
    May 26, 2014 - 06:47 AMBy: James Quinn The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches. Death rattle It was exactly four months ago when I wrote THE RETAIL...
  • Struggling malls suffer when Sears, Penney leave

    05/13/2014 3:28:27 AM PDT · by John W · 127 replies
    Wall Street Journal via Yahoo News ^ | May 12, 2014 | Suzanne Kapner and Robbie Whelan
    NORFOLK, Va.—With J.C. Penney Co. and Sears Holdings Corp. racing to close stores, America's weakest malls are being pushed to the brink. Nearly half of the 1,050 indoor and open air malls in the U.S. have both of those struggling chains as anchor tenants, according to real-estate research firm Green Street Advisors. Of those malls, nearly a quarter are struggling with sales below $300 per square foot and vacancy rates above 20%, meaning they will have a hard time finding new tenants if old ones leave. For an already-weakened mall industry, the negative turn for two once-reliable anchors is promising...
  • Rising U.S. economy could help Democrats stave off election loss

    05/12/2014 3:31:38 AM PDT · by Oldeconomybuyer · 105 replies
    Reuters ^ | May 12, 2014 | BY RICHARD COWAN
    Here's a riddle: Many Republicans deny it's happening. Some Democrats don't want to talk about it. What is it? The answer is the growing U.S. economy, on pace to expand as much as 3.5 percent this year, about the best performance in the industrialized world. Unemployment has fallen from 10 percent to about 6.3 percent and consumer confidence is at a six-year high. Better economic data could help persuade voters in November to look past President Barack Obama's weak approval ratings and his unpopular healthcare law and give Democrats enough lift to hold onto the Senate and limit their losses...
  • Fewer college grads will have jobs lined up this year: Still a bleak job market

    05/12/2014 6:32:20 AM PDT · by SeekAndFind · 74 replies
    New York Post ^ | 05/12/2014 | By Jonathon Trugman
    It’s “Pomp and Circumstance” time for 1.6 million US college graduates. While members of the class of 2014 have some cause to celebrate, they also know they are a few short months away from starting to pay down their share of the $1 trillion-plus student-loan debt. The most shocking number of all is that only 17 percent of these soon-to-be grads have a job lined up, according to AfterCollege Inc., which crunches these numbers and also tries to help match employers with recent graduates. Despite our being a year further along on the road to economic recovery, this year’s 17...
  • Desperate for work, college grads become nannies

    05/04/2014 4:16:13 AM PDT · by george76 · 32 replies
    The Philadelphia Inquirer ^ | May 3, 2014 | Samantha Melamed
    Parents have more options as overeducated young people turn to baby-sitting. Ashley Newhall of Philadelphia has a law degree and a master's in agricultural law, and she passed the bar in Pennsylvania and New Jersey. These days, she's working with some extremely demanding and exacting clients. Most of them are less than 3 years old. Newhall's primary income source for the past few years has been baby-sitting. Parents, said Newhall, are "blown away. They're like, 'Oh my gosh! You're the most overeducated nanny I've ever had.' " But jobs are scarce, and all that education came with six-figure debt for...
  • Gas Prices Hit 13-Month Highs, Prompt Macro Concerns

    04/20/2014 3:42:10 PM PDT · by Nachum · 73 replies
    zero hedge ^ | 4/20/14 | tyler durden
    At $3.67, US Regular gasoline prices are their highest since March 2013 having risen over 12% (40c) in the last 2 months. This must be great news, right? It must mean world demand is picking up and driving up prices of crude oil as global trade soars (amid a collapsing Baltic Dry and decelerating Chinese growth). This can't be related to "war premia" right? - as we noted here - because stocks (which always know best) have discounted all this tomfoolery. However, as the following chart shows, each time gas prices have surged up toards the Maginot Line of $3.80,...
  • Nearly Half Of Us Couldn't Live A Month On Our Savings

    04/01/2014 9:01:03 PM PDT · by blam · 46 replies
    BI ^ | 4-1-2014 | Trae Bodge
    Nearly Half Of Us Couldn't Live A Month On Our Savings Trae Bodge , RetailMeNot's The Real Deal Apr. 1, 2014, 5:56 PM April is Financial Literacy Month (and dreaded tax time), so let’s talk about your financial know-how. Are you financially prepared if you need to stop working for a few months due to a layoff or illness? Do you know how much money you have lying around? What about your kids? Are you setting them on a path to financial health? RetailMeNot recently polled more than 1,000 Americans and found that overall consumers are doing pretty well on...
  • Hundreds of Jobs Lost as Store Chain Closes Due to ObamaCare and Minimum Wage Hike

    03/30/2014 12:13:09 PM PDT · by SeekAndFind · 23 replies
    Frontpage Mag ^ | 03/30/2014 | Daniel Greenfield
    By the time ObamaCare and the minimum wage get done wiping out jobs, everyone will need that basic guaranteed income that libs love talking about. Citing Obamacare and an increase in the stateÂ’s minimum wage, the owner of Waterford-based Yankee One Dollar is closing down shop on all 23 remaining locations.Its owner Keith Flike blamed the Affordable Care Act and the increase in the stateÂ’s minimum wage for the decision to shut down. Each store has six to 10 employees, he told the Post Star. Those are just more employees who have been liberated from job lock to explore their...
  • Yankee One Dollar Closing Remaining Stores Due to Obamacare

    03/30/2014 9:16:20 AM PDT · by lowbridge · 36 replies
    http://legalinsurrection.com ^ | march 28, 2014 | rusty weiss
    Citing Obamacare and an increase in the state’s minimum wage, the owner of Waterford-based Yankee One Dollar is closing down shop on all 23 remaining locations. Via the Times Union: Waterford-based Yankee One Dollar stores will be gone within the next five months, its owner told the Post Star of Glens Falls. Keith Flike blamed the Affordable Care Act and the increase in the state’s minimum wage for the decision to shut down. Each store has six to 10 employees, he told the Post Star. Yankee One Dollar has 23 stores, down from a peak of 39. The Daily Gazette reported...
  • Harrah's Casino in Tunica closing costs 1,300 jobs (Mississippi)

    03/28/2014 5:41:22 PM PDT · by 2ndDivisionVet · 57 replies
    The Sun-Herald ^ | March 26, 2014 | Mary Perez
    Caesars Entertainment announced in a press release Wednesday that it will close Harrah's Tunica on June 2. This is one of three casinos Harrah's operates in Tunica in northern Mississippi. The 1,300 jobs that will be lost makes this one of the biggest layoffs ever in Mississippi, said Richard Bennett, chairman of the House Gaming Committee. The layoffs come at a time when Tunica County had the highest unemployment in state in February at 17.3 percent. Bennett said 75 percent of the jobs are held by Mississippi residents, with the remaining 25 percent of the employees from Tennessee and Arkansas....
  • Walgreen To Close 76 Unprofitable Stores

    03/25/2014 4:56:04 PM PDT · by John W · 40 replies
    ctnow.com ^ | March 25, 2014 | Peter Frost
    Walgreen Co. on Tuesday said it plans to shutter 76 unprofitable drugstores by August as part of a plan to save $40 million to $50 million per year beginning in fiscal 2015. The drugstore chain, the nation's largest, declined to specify the locations of the stores slated to close aside from saying they're "spread across the country." Walgreen, based in Deerfield, IL, said it will confirm the closures in the coming months after it notifies employees. Most stores that will close either have had other Walgreen locations open in the same area or have seen real estate values decline since...
  • Quiznos files for bankruptcy (tough week for fast food chains)

    03/15/2014 12:02:39 PM PDT · by SeekAndFind · 33 replies
    CNN Money ^ | 03/15/2014 | By Katie Lobosco
    Quiznos has filed for bankruptcy protection, five days after the Sbarro pizza chain did the same. Executives at the restaurant chain, known for its toasted sandwiches, agreed to a restructuring plan that will reduce its debt by more than $400 million, the company said in a statement Friday. All but seven of Quizno's 2,100 restaurants in the United States and 30 other countries are independently owned franchises, and will remain open and operating as usual. Quiznos once had more than 5,000 stores and could have threatened rival Subway's hold on the sub market. But now, Subway has nearly 20 times...
  • Toasty Or Toasted? Quiznos Follows Sbarro Into Bankruptcy [Obamanomics Fail]

    03/15/2014 3:53:14 AM PDT · by SoFloFreeper · 71 replies
    Forbes ^ | 3/16/14 | Brian Solomon
    Restaurant chains are dropping like flies this week. On Monday pizza franchise Sbarro dipped into Chapter 11 bankruptcy. Following in its footsteps on Friday, sub shop Quiznos announced that it too would sink into bankruptcy as part of a “pre-packaged” deal to cut its debt by more than $400 million, or two-thirds.
  • Illinois layoffs: Employers warn of 1,000 layoffs in coming weeks

    03/09/2014 12:38:55 PM PDT · by FreeAtlanta · 26 replies
    CHICAGOTRIBUNE.COM ^ | 7:52 a.m. CST, March 7, 2014 | Alejandra Cancino
    <p>Illinois employers warned they would lay off more than 1,000 workers in the coming months, according to notices filed with Illinois regulators in February.</p> <p>Accretive Health warned it would lay off 148 workers. The company said in January the layoffs are part of a broader restructuring in which positions will be moved from Chicago to other cities to be closer to clients. Accretive said then the layoffs could affect as many as 170 workers. The company employs about 600 people in the region.</p>
  • Staples to shut 225 stores in North America as sales fall

    03/06/2014 4:24:24 AM PST · by Red in Blue PA · 119 replies
    (Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015. Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates. The company operates 1,515 stores in the United States and 331 stores in Canada.
  • RadioShack Closing 1,100 Stores as Troubles Grow

    03/04/2014 5:08:26 PM PST · by kingattax · 73 replies
    ABC News/AP ^ | March 4, 2014 | CANDICE CHOI and MICHELLE CHAPMAN
    There will soon be about 1,100 fewer places to buy batteries. RadioShack said Tuesday that it plans to close up to 1,100 stores, or about a fifth of its U.S. locations. The news came as the retailer reported a wider quarterly loss after a disappointing holiday season. Its stock tumbled 16 percent in afternoon trading. CEO Joseph Magnacca said the closings would leave the company with more than 4,000 U.S. stores. That's still far more than Best Buy, which has roughly 1,400 U.S. locations, and makes RadioShack stores nearly as common as Wal-Mart. RadioShack didn't immediately identify which stores will...
  • Chevrolet Sells 1,210 Volts In February, Off 26% From 2013

    03/04/2014 12:31:32 PM PST · by lacrew · 17 replies
    InsideEVs ^ | 3-3-14 | Jay Cole
    After posting a fairly disappointing 918 Volt sales in January – the first time sales were under 4 digits in 2 years (603 - Jan 2012), the extended range Chevy bounced back a little in February notching 1,210 deliveries. Year-over-year, this February’s result was up against some fairly stiff competition as 1,626 were sold this month a year ago, meaning sales were off 25.6%. For the year to date, 2,128 Volts have been sold as compared to 2,766 – off 23.1% There just isn’t enough casr to even get the Volt a fighting chance as the General opted to produce...
  • Automakers slide on ice in February

    03/04/2014 10:39:59 AM PST · by John W · 37 replies
    AP via Fort Wayne Journal Gazette ^ | March 4, 2014 | TOM KRISHER and DEE-ANN DURBIN
    DETROIT – March will be one of the most crucial months for the U.S. auto industry in years. Sales were slower than expected in January and February, and the number of unsold cars on dealer lots grew. Some automakers had to resort to juicy discounts to lure reluctant buyers. Most industry executives, dealers and analysts blame the historic cold temperatures and snowfall, and expect warmer weather to restore consumers’ enthusiasm for car buying. Most still expect annual sales to exceed 16.1 million, which would be the highest level since 2006. But a continuation of the trends could signal more fundamental...
  • RadioShack To Close Up To 1,100 Stores; Same-Sales Drop 19 Pct

    03/04/2014 6:06:03 AM PST · by mykroar · 32 replies
    FoxBusiness.com ^ | 3/4/2014 | Reuters
    Struggling retailer RadioShack Corp reported a wider quarterly loss on Tuesday and said it will close up to 1,100 U.S. stores after a huge drop in sales over the holidays, sending the stock down more than 15 percent. Sales at the Fort Worth, Texas-based chain have been in free fall amid executive departures, tough competition and an image problem. Despite its ubiquitous presence in the United States, analysts say it has not done enough to transform itself into a destination for mobile phone shoppers or become hip enough to woo younger shoppers. Its net loss widened to $191.4 million, or...
  • Radio Shack sales tumble 20 pct; to close up to 1,100 stores

    03/04/2014 6:37:03 AM PST · by John W · 57 replies
    Reuters ^ | March 4, 2014 | Dhanya Skariachan
    (Reuters) - Retailer RadioShack Corp reported a wider quarterly loss on Tuesday and said it will close up to 1,100 U.S. stores after a huge drop in sales over the holidays, sending its stock down nearly 24 percent. The planned closures would leave the Fort Worth, Texas-based chain with over 4,000 stores, including over 900 dealer franchise locations, its chief executive officer said. Sales totaled $935.4 million in the quarter covering the all-important holiday season, down 20.1 percent from $1.17 billion in the year-ago period. Analysts, on average, looked for sales of $1.12 billion, according to Thomson Reuters I/B/E/S. Sales...
  • Quiznos Preparing to File for Bankruptcy Protection

    02/27/2014 3:08:54 PM PST · by Perdogg · 67 replies
    Sandwich chain Quiznos is preparing to file for bankruptcy protection within weeks as it contends with declining sales and a lofty debt load, people familiar with the matter said. The company, which has about $570 million in debt, has been negotiating with creditors for weeks on a restructuring plan that would streamline its trip through bankruptcy court, these people said. A final deal on a so-called prepackaged restructuring plan hasn't yet been reached, they said.
  • NY Times: The Stimulus worked! (Almost verbatim White House talking points)

    02/23/2014 11:37:10 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    Here's an editorial in the New York Times about the beneficial effects of the $832 billion stimulus bill passed in 2009 that could have been written in the White House: Of all the myths and falsehoods that Republicans have spread about President Obama, the most pernicious and long-lasting is that the $832 billion stimulus package did not work. Since 2009, Republican lawmakers have inextricably linked the words "failed" and "stimulus," and last week, five years after passage of the Recovery Act, they dusted off their old playbook again."The 'stimulus' has turned out to be a classic case of big promises...
  • Sbarro says it will close 155 locations

    02/20/2014 9:16:19 AM PST · by Phillyred · 59 replies
    PHILLY.COM ^ | Wednesday, February 19, 2014, 6:22 | The Associated Press
    <p>Sbarro Inc. says it's closing 155 of its U.S. locations, mostly in mall food courts where traffic has declined. The Melville, N.Y.-based pizza chain said Wednesday the closures affect 1,400 workers. The move comes as the company is trying to improve its financial performance and update its image under yet another CEO who took over just last year. Jonathan Dedmon, a representative for Sbarro, says the targeted locations will close Thursday. "The last day of business is today," he wrote in an email. Sbarro filed for bankruptcy protection in April 2012 when it was no longer able to contend with declining sales and rising costs. It emerged from Chapter 11 protection in November 2012, saying that it had significantly cut its debt and received a new $35 million capital infusion. Shortly after, it named James Greco, a former head of bagel chain Bruegger's Enterprises, as its CEO. Greco led a push to revitalize the chain's image by touting new recipes and ovens. But the efforts apparently didn't take hold; Sbarro named David Karam its CEO last year. Dedmon did not respond when asked why Greco was replaced. Sbarro owns 400 locations in North America. The closures do not affect the additional 175 Sbarro locations in the region that are owned by franchisees. After the closures, Sbarro said it will operate 800 stores worldwide, including 81 that were opened last year.</p>
  • More Men in Prime Working Ages Don't Have Jobs

    02/06/2014 10:47:06 AM PST · by reaganaut1 · 66 replies
    Wall Street Journal ^ | February 5, 2014 | MARK PETERS and DAVID WESSEL
    ... More than one in six men ages 25 to 54, prime working years, don't have jobs—a total of 10.4 million. Some are looking for jobs; many aren't. Some had jobs that went overseas or were lost to technology. Some refuse to uproot for work because they are tied down by family needs or tethered to homes worth less than the mortgage. Some rely on government benefits. Others depend on working spouses. Having so many men out of work is partly a symptom of a U.S. economy slow to recover from the worst recession in 75 years. It is also...
  • Radioshack Celebrates One Year Anniversary Of Closing 500 Stores By Closing 500 More

    02/04/2014 2:41:04 PM PST · by SeekAndFind · 58 replies
    Zero Hedge ^ | 02/04/2014 | Tyler Durden
    If it seems like it was exactly a year ago that turmoiling retailer Radioshack shut down 500 stores due to lack of consumer interest in its wares (and or consumer disposable cash), it is because it was. So how does Radioshack demonstrate its morbid sense of humor on the one year anniversary of said announcement? Well, by closing another 500, or about 12% of the retailer's total 4500 outlets currently in existence. The WSJ reports that the company which once was the butt of all LBO-rumor jokes (and still is, only this time in the context of an M&A-rumor...
  • Dude, "It's Going To Be A Bloodbath": Newly Private Dell Computers To Fire 15,000

    02/03/2014 1:22:11 PM PST · by SeekAndFind · 76 replies
    Zero Hedge ^ | 02/03/2014 | Tyler Durden
    Curious why Michael Dell was so eager to take the company he founded private? So he could do stuff like this without attracting too much attention. According to the Channel Register, the recently LBOed company is "starting the expected huge layoff program this week, claiming numbers will be north of 15,000." Of course, with a private sponsor in charge of the recently public company, the only thing that matters now is maximizing cash flows in an environment of falling PC sales, a commoditisation of the server market and a perceived need to better serve enterprises with their ever-increasing mobile...
  • Obama to visit West Mifflin steel plant on Wednesday

    01/27/2014 7:15:40 AM PST · by rightwingintelligentsia · 35 replies
    WPXI ^ | January 27, 2014
    Officials said President Barack Obama will visit a western Pennsylvania steel plant after delivering this week's State of the Union address. A White House spokesman said Sunday that the president will travel to U.S. Steel's Irvin plant in West Mifflin on Wednesday to deliver remarks on the economy. The company said the Irvin plant produces sheet metal products from the steel slabs produced at the Edgar Thomson plant in Braddock. Obama will also be visiting the Washington suburbs of Prince George's County, Md. on Wednesday and will go to Milwaukee and Nashville on Thursday.
  • McDonald's sees fewer customers, sales disappoint

    01/23/2014 6:59:04 AM PST · by Red in Blue PA · 173 replies
    NEW YORK (AP) -- McDonald's reported disappointing sales for its fourth quarter Thursday, as the world's largest hamburger chain saw fewer customers visit its restaurants. The Oak Brook, Ill.-based company says global sales slipped 0.1 percent at established locations. In the U.S., where it recently revamped its Dollar Menu to include items that cost a little more, the figure fell 1.4 percent.
  • A 'tsunami' of store closings expected to hit retail

    01/22/2014 1:59:17 PM PST · by EBH · 99 replies
    CNBC ^ | 1/22/2014 | Krystina Gustafson
    Get ready for the next era in retail—one that will be characterized by far fewer shops and smaller stores. On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It's the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy's. Further signs of cuts in the industry came Wednesday, when Target said that it will eliminate 475 jobs worldwide, including some at its Minnesota headquarters, and not fill 700...
  • President Pinocchio

    01/22/2014 11:05:38 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 22, 2014 | Donald Lambro
    WASHINGTON - President Obama's bogus promises, predictions and claims are legendary, but perhaps you've forgotten his "sky is falling" forecast about the $85 billion budget sequester. Last February, as Congress's automatic budget cuts began chipping away at the government's out-of-control spending levels, Obama went hyperbolic. The spending cuts would deal a "huge blow... to our economy as a whole" and "all our economic progress could be at risk." In a string of speeches, the president played his fear card again. Air traffic control operations were being put at risk. Cancer research projects would be halted. Your food safety was in...
  • Record 20% of Households on Food Stamps in 2013

    01/21/2014 2:47:51 PM PST · by Nachum · 28 replies
    cns news ^ | 1/21/14 | Ali Meyer
    (CNSNews.com) -- A record 20% of American households, one in five, were on food stamps in 2013, according to data from the U.S. Department of Agriculture (USDA). The numbers also show that there were a record number of individuals on food stamps in 2013 and that the cost of the program, the Supplemental Nutrition Assistance Program (SNAP), was at an all-time high.
  • Wall Street advisor: Actual unemployment is 37.2%, 'misery index' worst in 40 years

    01/21/2014 11:46:47 AM PST · by F15Eagle · 249 replies
    http://washingtonexaminer.com via Drudge ^ | JANUARY 21, 2014 AT 1:08 PM | By PAUL BEDARD
    Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud. In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government. Marotta, who recently advised those worried about an imploding economy to...
  • Number of Able-Bodied Adults Without Dependents on Food Stamps Doubles

    01/17/2014 11:38:30 PM PST · by Innovative · 62 replies
    Breitbart ^ | Jan 17, 2014 | William Bigelow
    The number of Able-Bodied Adults Without Dependents (ABAWDs) receiving food stamps zoomed from 1.7 million to 3.9 million between Fiscal Year 2007 and Fiscal Year 2010. In that same period, food stamp recipients in total grew from 26 million to nearly 40 million. Spending on food stamps now totals somewhere around $80 billion, twice what the number was in Fiscal Year 2008. Presently, the work waivers foisted on the states by Obama allow ABAWDs to receive food stamps indefinitely--without working or preparing for work.
  • What is Going On With Jobs? We are not just talking about a bad month.

    01/14/2014 6:57:12 AM PST · by SeekAndFind · 27 replies
    American Thinker ^ | 01/14/2014 | Christopher Chantrill
    Everyone agrees that the employment report last Friday was very bad. Unemployment went down to 6.7 percent, but that was because the Household Survey showed that 347,000 people left the labor force in December while only 144,000 found jobs. In a healthy growing economy you are supposed to get the work force increasing faster than the actual employment, as people join the labor force confidently looking for work.If you look at the data for the five years since President Obama was inaugurated, you can see that we are not just talking about a bad month. It's all bad, from...
  • New report says millions of women at risk of falling into poverty, economic ruin

    01/12/2014 7:22:33 AM PST · by Libloather · 39 replies
    NBC News ^ | 1/12/14 | Daniel Arkin
    Although in recent decades women have made historic advances in nearly all areas of American public life, a staggering number of women across the country are still teetering on the verge of poverty and economic disaster, a new report released Sunday shows. The report, co-authored by NBC News special anchor Maria Shriver and the Center for American Progress, takes a wide-angle snapshot of a national economic crisis — seen through the eyes of women. The key findings paint a portrait of an estimated 42 million women — and 28 million dependent children — saddled with financial hardship. "These are not...
  • President Obama's Legacy Of Economic Failure

    01/10/2014 10:59:32 PM PST · by Innovative · 18 replies
    Real Clear Markets ^ | Jan 10, 2014 | Wayne Brough
    Since taking office in 2009, it has been tough sledding for the economy. Congress and the administration have increased the federal debt held by the public from $7.5 trillion to $11.2 trillion in 2012. To clarify, in terms of percent of gross domestic product-a measure of the nation's total output-the federal debt has grown from 54 percent of GDP in 2009 to 72 percent of GDP in 2012, according to the Congressional Budget Office. But sector by sector, the administration appears bent on imposing the regulations that thwart entrepreneurial activity and economic growth. ObamaCare, the jewel of Obama presidency, is...
  • US LOST 2 MILLION WORKERS IN 2013

    01/10/2014 12:54:38 PM PST · by Jim Robinson · 132 replies
    Breitbart ^ | Jan 10, 2014 | By Mike Flynn
    Friday's December jobs report was a major disappointment, showing the economy gained just 74k jobs last month. Economists had expected the economy to gain around 200k jobs. The unemployment rate, however, dropped to 6.7% as 347k frustrated job-seekers gave up and left the labor force. We are in an upside-down world where a drop in the unemployment rate is a bad sign for the economy. The overall labor force shrunk dramatically last year. In December 2012, 155.4 million workers had a job or were actively looking for one. Last month, though, 154.9 million were in the labor force, a drop...
  • 18 Depressing Photos That Show Why Sales Are Crumbling At Sears

    01/09/2014 2:09:59 PM PST · by Hojczyk · 242 replies
    Yahoo Finance ^ | January 9, 2014 | Ashely Lutz
    Sears, once America's golden retailer, is a company in crisis. The company has shuttered hundreds of stores in recent years. The embattled company has been selling some its most profitable stores to raise money. And now, shares are tumbling after Sears lowered guidance for the quarter and announced that comparable sales in the fourth quarter have slid more than 7%. Brian Sozzi, chief equities strategist at Belus Capital Advisors, took poignant photos inside of New Jersey and New York Sears locations in October. "To understand why Sears is in a 'sell stores mode' one must look no further than the...
  • Macy's laying off 2,500

    01/09/2014 3:02:17 AM PST · by SoFloFreeper · 82 replies
    CNN ^ | 1/9/14
    The axe is falling at Macy's. The department store operator said Wednesday that it was laying off 2,500 workers and closing five stores. The company is also consolidating its regional management and restructuring its retail and merchandise planning staff. "[W]e have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," Macy's CEO Terry Lundgren said in a statement.