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The New York Times reports on the latest layoffs to hit the global marketplace, courtesy of Nissan: Nissan Motor on Monday joined Toyota, Mazda and Mitsubishi in forecasting a loss for the current financial year, and announced it was cutting 20,000 workers in one of the most aggressive cutbacks so far by a Japanese company […]
Do you ever kind of miss the high life? You know, the days of derivatives, reliable 401Ks, and fine wine? The folks at Bailout Wine have figured out a way to combine pining for days of yore with today’s bailout realities. From the bailout wine website: Just like you, we here at Crushpad have been […]
It’s interesting that moral quibbles take a backseat to perceived leadership efficacy when economic times get hard. Remember the Clinton years, which happened to be boom years, and the womanizing controversy? Running an impeachment trial on purely moral grounds seems like distant history in light of today’s economic crisis. Now, Iceland, one of the worst-hit […]
The UK Guardian reports on the recently released Madoff client list, which includes quite a few rich and famous people: A list of the many thousands of people who invested with Bernard Madoff has been released, including several prominent British society figures and a number of well-known Americans from the world of politics, sport and […]
Google’s new mobile maps upgrade includes a cell phone tracker that lets you follow your friends’ or families’ locations in real-time. The cell phone tracker is called “Latitude.” It plots a user’s location using cell phone towers, GPS or Wi-Fi connections. Users’ pictures show up on the corresponding location on a Google map. Google is […]
Macy’s consolidation is also a sizable elimination–of employees. The company is restructuring and, as a result, heads are rolling. From the Macy’s press release: A net companywide total of approximately 7,000 positions are being eliminated from the company’s workforce in offices, stores and other facilities. This total includes approximately 1,200 positions being added to new […]
Or was that 6 more weeks of winter? We can’t tell them apart anymore. Punxsutawney Phil, the famous groundhog who uses his shadow to forecast more winter, made the fated move this morning on Groundhog Day in Punxsutawney, PA. From the New York Daily News: ‘‘After casting a joyful eye towards thousands of his faithful […]
The New York Times has reported that President Obama stocks his fridge with Honest Tea, an organic, Fair Trade, and unconventional beverage symbolic of the many cultural changes he is making within the White House. The article–read it here–went into detail about Obama’s management style, which is remarkably similar to what .coms exhibited earlier this […]
Bankers’ girlfriends have it hard these days. In mourning the loss of their formerly mindless affluence, the afflicted have set up Dating a Banker Anonymous, a support group that meets for lunch and cocktails to share, pine, and vent. They’ve also set up a blog. The UK’s Mail Online reports: The blog invites women to […]
Via David Zetland’s Aguanomics blog:
Drug money has been floating banks through the crisis in some countries. Reuters, via Credit Writedowns, reports: Vienna – The United Nations’ crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday. […]
