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04 Mar 2011 20:26

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Biz: More on the unemployment figures: Who wants a job, anyway?

  • 6.4 million people not counted in the “labor force” want jobs now
  • 8.9% the percentage of people the U.S. government says are unemployed, according to traditional figures which have been caressed with great care to look as good as possible
  • 12.6% the percentage of people who the government says want a job, but are unable to get one – a number that includes, but extends BEYOND the unemployed source
Posted by Ernie Smith • 0 Comments • Permalink

04 Mar 2011 12:26

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Biz: “The Other White Meat” no more: Pork wants you to “Be Inspired”

  • In terms of slogans we can get behind, we probably shouldn’t list slogans that make us think of Chicago songs, and the National Pork Board’s new slogan does. It’s as needed. Peter Cetera didn’t die for sins quite that egregious (in fact he’s still alive). As for the reasoning – the pork folks are done with pretending people will go with pork over chicken. So they’re trying to reach the 82 million Americans who already eat pork rinds. Yum. source
Posted by Ernie Smith • 0 Comments • Permalink

04 Mar 2011 10:46

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Biz: Job numbers: Why Feburary’s numbers are particularly promising

  • 8.9% the unemployment rate in February, the lowest it’s been in over two years
  • 192k the increase in nonfarm payrolls – the biggest monthly leap since May
  • 58k the jump in January’s payroll numbers in revised estimates source
  • » Why this jump is a pretty big deal: Simply put, this is all private-sector growth, meaning that business are hiring again. It’s not nearly as quick as economists want it, but the growth is promising, so they’ll take it. Also worth noting – the jump in jobs last May was due to the Census, which means that those were here-today-gone-tomorrow-type jobs. This is actual, real growth. Hopefully it keeps up.
Posted by Ernie Smith • 0 Comments • Permalink

03 Mar 2011 11:25

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Biz: Workplace productivity goes up. We suggest it goes back down.

  • 2.6% jump in productivity levels in the recent quarter source
  • » Suggestion for the workforce at large: Be less productive. It will encourage employers to hire more people if they can’t get done what they need to get done with the people they have. And as a result, the unemployment rate will go down because these greedy bastards won’t be able to use their profit picture to screw over millions of unemployed people who can’t find work. You bastards need to stop working so hard. Clock out half an hour early one day for no reason. Sit at your desk and reload Tumblr repeatedly. Blow a deadline. Make yourself not so much replaceable, but appendable. You need an assistant, right? Right? (Note, since people are taking this post seriously: This is “A Modest Proposal,” a Swiftian joke.)
Posted by Ernie Smith • 0 Comments • Permalink

03 Mar 2011 10:19

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Biz: Unemployment: Jobless claims numbers hit three-year low

  • 362,000 the number of new jobless claims – down 20,000 from the week before and overall fairly low
  • May ’08 the last time the numbers were lower than this – with suggests a positive downward trend source
Posted by Ernie Smith • 0 Comments • Permalink

28 Feb 2011 10:11

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Biz, U.S.: Bailouts: Remember TARP? It’s almost entirely recouped, kids.

  • $700B the amount the U.S. spent on the Troubled Asset Relief Program back in 2008
  • $341B the amount it looked like taxpayers were going to lose on the bailout deal back in mid-2009
  • $25B the amount it looks like we’ll lose on TARP; this is because we gave the money to banks source
  • » Not all is rosy in Bailoutville: One of the biggest issues we still face are the dual sinkholes of Fannie Mae and Freddie Mac, which have reportedly cost taxpayers $150 billion and we like to think of as dual sinkholes. And some legislators feel that the effect has set us up for having to bail out unsuccessful companies in the future.
Posted by Ernie Smith • 0 Comments • Permalink

27 Feb 2011 23:01

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Biz: GaoPeng’s Deal of the day: Groupon has a Chinese site now

 

Posted by Ernie Smith • 0 Comments • Permalink
 

25 Feb 2011 23:26

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Biz: Bank Of America, Citigroup, Wells Fargo feel heat over mortgages

  • The current environment of heightened regulatory scrutiny has the potential to subject the corporation to inquiries or investigations that could significantly adversely affect its reputation.
  • A statement from Bank of America • Noting in a filing with the Securities and Exchange Commission that the company could be subject to huge penalties over their abusive mortgage practices. They’re not alone; Wells Fargo and Citigroup ware in the same boat, and it’s all thanks to the shady way that the trio dealt with their foreclosures. The reports from the companies suggest that all three will take a financial hit for said shadiness. Bank of America says that the state and federal inquiries “could result in material fines, penalties, equitable remedies (including requiring default servicing or other process changes), or other enforcement actions, and result in significant legal costs.” In other words, they’re screwed for screwing over homeowners. Oops. source
Posted by Ernie Smith • 0 Comments • Permalink

24 Feb 2011 21:34

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Biz: General Motors’ good year: Their first full-year profit since ’04

  • $100 billion the amount GM lost between 2005 and 2009, when they had to be bailed out by the feds
  • $4.7 billion the amount they earned in 2010 – they’re doing the Dougie in the boardroom today source
  • » It’s not all up-and-up, though: At $510 million, the company’s fourth-quarter numbers, while still profitable, paled in comparison to the rest of the year. Still though, the fact that it’s a profit is definitely Dougie-worthy, no matter how you look at it.
Posted by Ernie Smith • 0 Comments • Permalink

23 Feb 2011 16:51

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Biz: She’s dead, Jim: Local news site TBD.com lays off most of its staff

  • before While Allbritton announced that they would be de-emphasizing the TBD brand, which was considered a future journalism model, they made it seem like there wouldn’t be any layoffs – just refocusing.
  • now TBD, a DC-based local news site, will now lose its sports and news coverage and become an entertainment site. Oh yeah, 12 people are getting laid off. So, yes, the TV guys did win. source
  • » A message to TBD’s staff: We hear you’ll be able to work on your publication for the next few weeks as its model changes – a temporary respite from unemployment. As someone who’s been in that position before, I can tell you it’s a bit of a dead-man-walking situation. Sigh. These things are never fun. Make the best of them.
Posted by Ernie Smith • 0 Comments • Permalink
 
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