A View of the C

Funny – Inappropriate – Edumacational

Unemployment Rates Continue To Rise

The U.S. unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs. The labor market is expected to remain weak as mass layoffs continue.

The Labor Department’s report, released Friday, underscored the terrible toll the deepening recession is having on workers and companies, and highlights the hard task President-elect Barack Obama faces in resuscitating the flat-lined economy.

For all of 2008, the economy lost a net total of 2.6 million jobs. That was the most since 1945, when nearly 2.8 million jobs were lost. Although the number of jobs in the U.S. has more than tripled since then, losses of this magnitude are still being painfully felt.

Check out the interactive map below that shows the unemployment percentage by state, and by month. I know for Washington, there are major layoffs about to be finalized (Washington Mutual) in the month of January and with some rumored impending Microsoft layoffs, Seattle in particular could continue to be hit hard. Vodpod videos no longer available.
If the image above is acting shady, click here to see the full version. 

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January 9, 2009 Posted by | Did you know?, Economy | , , , , , , | Leave a comment

Buy A Toaster, Get A Free Bank

November 30, 2008 Posted by | Economy, Funny | , , , , , , , , , | Leave a comment

Bye Bye Jerry Yang, Yahoo Next?

Yahoo, under fierce financial pressure, has begun a search to replace company co-founder Jerry Yang as chief executive, the company said Monday. 

“Jerry and the board have had an ongoing dialogue about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level,” Chairman Roy Bostock said in a statement. “We are deeply grateful to Jerry for his many contributions as CEO over the past 18 months, and we are pleased that he plans to stay actively involved at Yahoo as a key executive and member of the Board.”

Read more here

jerry-yang

As with many CEOs that maybe should have sold, is it greed or sincere attempts at preservation of the company that’s at play here? I’m talking to you Jerry Yang, I’m talking to you Kerry Killinger!

November 17, 2008 Posted by | Did you know? | , , , , , , | Leave a comment

Investors see new villains in WaMu drama

http://seattlepi.nwsource.com/virgin/381074_virgin30.html

September 30, 2008 Posted by | Uncategorized | , , | Leave a comment

WAMU FILES FOR BANKRUPTCY PROTECTION

According to Bloomberg: Washington Mutual Inc., a holding company for the savings and loan that became the biggest U.S. bank to fail, filed for bankruptcy protection along with its unit WMI Investment Corp.

WaMu, the 119-year-old Seattle-based thrift, filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Delaware, according to a release from Business Wire. The Delaware bankruptcy Web site was closed for site maintenance. Ian Campbell, a spokesman for the bankrupt holding company with Abernathy MacGregor Group, said he couldn’t provide further details.

September 27, 2008 Posted by | Did you know?, Economy | , , , , , , , , | Leave a comment

SIGH OF RELIEF…

Sept. 25 (Bloomberg) — JPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire the deposits of Washington Mutual Inc. as the thrift was seized by regulators in the biggest bank failure in U.S. history.

JPMorgan will pay $1.9 billion, the Federal Deposit Insurance Corp. said in a statement today. It won’t acquire liabilities including claims by equity, subordinated and senior debt holders, the FDIC said.

WaMu, based in Seattle, collapsed after its credit rating was slashed to junk and potential suitors passed on making a bid. Facing $19 billion of losses on soured mortgage loans, the lender put itself up for sale last week. WaMu in March rebuffed a takeover offer from JPMorgan that WaMu valued at $4 a share.

“JPMorgan is getting a steal compared with what they were going to pay,” said Scott Adams, a pension and investment analyst at the American Federation of State, County and Municipal Employees in Oakland, California, which owns WaMu shares. “It’s very tragic.”

The lender is the latest victim of a credit crunch that forced Lehman Brothers Holdings Inc. into bankruptcy, drove Merrill Lynch & Co. to sell itself to Bank of America Corp. and brought about the Federal Reserve-financed purchase of Bear Stearns Cos. by JPMorgan. Treasury Secretary Henry Paulson’s $700 billion plan to prop up the U.S. banking industry by buying distressed mortgages wasn’t enough to save the company.

WaMu had about 2,300 branches and $182 billion of customer deposits at the end of June. Its $310 billion of assets dwarf those of Continental Illinois Corp., previously the largest failed bank, which had $40 billion ($83 billion in 2008 dollars) when it was taken over in 1984.

September 26, 2008 Posted by | Did you know? | , , , , , , , , , , | Leave a comment

B of A buys Merrill Lynch; Who’s next to be bailed out?

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2WYugU7rheY&refer=home

September 15, 2008 Posted by | Uncategorized | , , , , , , , , , , | Leave a comment