Is this a precursor to what will happen at other companies in the financial sector? The economy is showing no immediate signs of improving. Citigroup has posted four straight quarterly losses. Not only are they cutting jobs, they stated that expenses will be lowered by 20 percent and assets will be reduced by more than 20 percent.
What advice would you give to the thousands of employees who will loose their job?
www.TheMichaelDBrown.com
Categories: Business · News
Tagged: economy, employees, bailout, Citigroup, 53, 000, job loses, executive pay
billion bailout. In exchange for the loan, we the taxpayers would get an ownership stake in the automakers. Sounds simple, and it’s almost a no-brainer considering the havoc that will be wreaked on the economy if the big three went under.
As each day passes, the lame-duck congress is becoming more sharply divided on whether to give or not to give a $25 billion loan.
With thousands of people losing their jobs every week and retail sales hitting an all time decline, this could be the nail in the coffin if these three automakers have to shut their doors and lay people off.
This will not only affect the people who work at the big three, but the companies that depend on the spending that is derived from these employees.
Do you think the government should bailout the three automakers?
www.TheMichaelDBrown.com
Categories: Business · News
Tagged: $700 billion bailout, bailout, cars, Chrysler, economy, Ford, General Motors, Recession, retail sales, stock market
Michael is also the author of Fresh Customer Service: Treat the Employee as #1 and the Customer as #2 and You Will Get Customers for Life.
