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Post by bubblyandblue on Aug 5, 2011 16:44:45 GMT -5
Below is part of an artical found on Naked Capitalism web sight but, talks directly to the mess. banks could have told to refrain from gambling on derivatives, from lending for currency and commodity speculation, and from making takeover loans and other predatory financial practices. Public ownership would have run the banks like savings banks or post office banks rather than gambling schemes fueling the international carry trade (computer-driven interest rate and currency arbitrage) that has no linkage to the production-and-consumption economy. The government could have used its equity ownership and control of the banks to provide credit and credit card services as the “public option.” Credit is a form of infrastructure, and such public investment is what enabled the United States to undersell foreign economies in the 19th and 20th centuries despite its high wage levels and social spending programs. As Simon Patten, the first economics professor at the nation’s first business school (the Wharton School) explained, public infrastructure investment is a “fourth factor of production.” It takes its return not in the form of profits, but in the degree to which it lowers the economy’s cost of doing business and living. Public investment does not need to generate profits or pay high salaries, bonuses and stock options, or operate via offshore banking centers. Credit is seen as necessary; but what of credit derivatives, the financial sector’s arcane “small print”? How intrinsic are financial gambles on collateralized debt obligations (CDOs, “weapons of mass financial destruction” in Warren Buffett’s terminology) – not retail banking or even business banking and insurance, but financial bets on the economy’s zigzagging measures. Without casino capitalism, could industrial capitalism survive? Or had the superstructure become rotten and best left to “free markets” to wipe out in mutually offsetting bankruptcy claims? On another note, found interesting but long artical from a little while ago: sturdyblog.wordpress.com/2011/06/18/democracy-vs-mythology-the-battle-in-syntagma-square/
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deziloooooo
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Post by deziloooooo on Aug 5, 2011 16:51:34 GMT -5
We cannot hire due to ObamaCare. In fact, we're going to fire if it stands. It's just that simple. We're not going to put up with it. We already have established an off-shore company and we'll have only arms-length dealing in the US before too long. So long, it's been good to know ya..been good to know ya.. been ..
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shelby
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Post by shelby on Aug 5, 2011 16:52:52 GMT -5
We cannot hire due to ObamaCare. In fact, we're going to fire if it stands. It's just that simple. We're not going to put up with it. We already have established an off-shore company and we'll have only arms-length dealing in the US before too long. see ya
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shelby
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Post by shelby on Aug 5, 2011 16:53:53 GMT -5
beat me to is dez
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Phoenix84
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Post by Phoenix84 on Aug 5, 2011 16:54:30 GMT -5
I think it's uncertanty and lack of demand.
First, lack of demand. Just because a business is making money doesn't mean they need more people. A business doesn't add jobs with a social mission in mind, there has to be a market for them to make money, and I think many are worried about the state of the economy.
Which brings us to uncertainty. I think many business leaders are concerned about the economy and government policy like obamacare. Since no one knows what's going to happen (with either the economy, government regulations, or obamacare) most businesses are circling the wagons and hoarding cash.
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bimetalaupt
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Post by bimetalaupt on Aug 5, 2011 16:55:12 GMT -5
Laborers knowing that science and invention have increased enormously the power of labor, cannot understand why they do not receive more of the increased product, and accuse capital of withholding it. The employer, finding it increasingly difficult to make both ends meet, accuses labor of shirking. Thus suspicion is aroused, distrust follows, and soon both are angry and struggling for mastery. It is not the man who gives employment to labor that does harm. The mischief comes from the man who does not give employment. Every factory, every store, every building, every bit of wealth in any shape requires labor in its creation. The more wealth created the more labor employed, the higher wages and lower prices. But while some men employ labor and produce wealth, others speculate in lands and resources required for production, and without employing labor or producing wealth they secure a large part of the wealth others produce. What they get without producing, labor and capital produce without getting. That is why labor and capital quarrel. But the quarrel should not be between labor and capital, but between the non-producing speculator on the one hand and labor and capital on the other. Co-operation between employer and employee will lead to more friendly relations and a better understanding, and will hasten the day when they will see that their interests are mutual. As long as they stand apart and permit the non-producing, non-employing exploiter to make each think the other is his enemy, the speculator will prey upon both. Co-operating friends, when they fully realize the source of their troubles will find at hand a simple and effective cure: The removal of taxes from industry, and the taxing of privilege and monopoly. Remove the heavy burdens of government from those who employ labor and produce wealth, and lay them upon those who enrich themselves without employing labor or producing wealth. B&B, What I keep hearing from firms are they can not find the skill set or education level they need. My Friend at the ALSC is going to take time himself to teach the Bio-Techs class to qualify student to work at his lab. I plan to joint with him in this. We need better educated workers. Just a thought, Bi Metal Au Pt
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deziloooooo
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Post by deziloooooo on Aug 5, 2011 17:07:39 GMT -5
beat me to is dez ;D
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Post by bubblyandblue on Aug 5, 2011 17:14:20 GMT -5
I wil agree we need better educated workers _ most notables have said this in the past - "If a nation expects to be ignorant and free, it expects what never was and never will be ... The People cannot be safe without information. When the press is free, and every man is able to read, all is safe." - Thomas Jefferson Yet we have a sector of the populace that wishes government to get out of education and have brought forward ideas (on the petext of making it better) that only serve to privatize education and defund the Dept of Education. It really seams obsurd. Further, America does have the real talent inboard but, this economy and the structural components in our country have now seamed to conspire in preventing mobility - where job talent and location can get together (many times technology can't overcome the face to face).
The cynic in me believes that most of the retoric (regarding businesses not being able to find proper skill sets among Americans ) is an incompetemt uper management using the excuse to leverage and justify outsourcing for the easy buck and political cover. I do believe, from experience and practice that some bloke off the street, given the proper environment, will excel at just about anything - Ive seen it more times than not. Your friend from the ALA will reap huge rewards and benefits from his actions and from his students/new employees - particularly if its cutting edge stuff married to real world applications. When someone is curious and has the chance to - hands-on - marry cutting edge to real world applications - there is no limit of human capacity to learn.
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EVT1
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Post by EVT1 on Aug 5, 2011 17:16:02 GMT -5
We cannot hire due to ObamaCare. In fact, we're going to fire if it stands. It's just that simple. We're not going to put up with it. We already have established an off-shore company and we'll have only arms-length dealing in the US before too long. Quick- call a whambulance. Seriously- can't hire due to the ACA? Going to fire because of it? I don't buy that crap for a minute-but oh well- don't let the door hit ya on the way out. Funny- we are still hiring and expanding, my department has tripled in size and scary 'obamacare' is right around the corner- evidently you don't know how to run a business if you can't deal with the new regulations without firing people- but I don't believe you anyway- key words being 'we're not going to put up with it'. Go ahead and take your ball and go home, or overseas if you want.
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mmhmm
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Post by mmhmm on Aug 5, 2011 17:20:14 GMT -5
Laborers knowing that science and invention have increased enormously the power of labor, cannot understand why they do not receive more of the increased product, and accuse capital of withholding it. The employer, finding it increasingly difficult to make both ends meet, accuses labor of shirking. Thus suspicion is aroused, distrust follows, and soon both are angry and struggling for mastery. It is not the man who gives employment to labor that does harm. The mischief comes from the man who does not give employment. Every factory, every store, every building, every bit of wealth in any shape requires labor in its creation. The more wealth created the more labor employed, the higher wages and lower prices. But while some men employ labor and produce wealth, others speculate in lands and resources required for production, and without employing labor or producing wealth they secure a large part of the wealth others produce. What they get without producing, labor and capital produce without getting. That is why labor and capital quarrel. But the quarrel should not be between labor and capital, but between the non-producing speculator on the one hand and labor and capital on the other. Co-operation between employer and employee will lead to more friendly relations and a better understanding, and will hasten the day when they will see that their interests are mutual. As long as they stand apart and permit the non-producing, non-employing exploiter to make each think the other is his enemy, the speculator will prey upon both. Co-operating friends, when they fully realize the source of their troubles will find at hand a simple and effective cure: The removal of taxes from industry, and the taxing of privilege and monopoly. Remove the heavy burdens of government from those who employ labor and produce wealth, and lay them upon those who enrich themselves without employing labor or producing wealth. B&B, What I keep hearing from firms are they can not find the skill set or education level they need. My Friend at the ALSC is going to take time himself to teach the Bio-Techs class to qualify student to work at his lab. I plan to joint with him in this. We need better educated workers. Just a thought, Bi Metal Au Pt As I see it, BiMetal, your friend's approach is the right approach to solve the problem. If you can't find the talent you need, raise your own. Create it by teaching and guiding those who are willing to learn.
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mmhmm
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Post by mmhmm on Aug 5, 2011 17:20:14 GMT -5
This message has been deleted. Double post.
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mwcpa
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Post by mwcpa on Aug 5, 2011 17:37:50 GMT -5
"The ones that created this mess - what we call the To Big To Fail TBTF institutions are the omes who have done the least"
except for themselves..... they needed the taxpayers help to survive the mess they got themselves into with the repeal of Glass-Steagall at the end of the Clinton era and the deregulation and lack of enforcement of the rules during the Bush years.... but now that the taxpayers want help they are told you are too small to succeed.
"We need better educated workers"
Yet, we have "no child left behind" or better yet, no child allowed to excel... or teach to the test.... we beat up our teachers who should be paid a living wage, yet we allow excessive salaries to CEOs who fail....
"I almost wonder if, now this is just a hair brained idea..and yes there is a risk..but if banks are not lending..honestly could you say you were not a risk when you went for your loan, possible if they honestly showed you why, but possible offered a loan but a bit more interest, you might have considered it, or do you feel they were busting your chops..just because of..they are earning plenty with no risks just by moving their $ around..so no real incentive tom loan today"
they actually could not supply a reason.... they just said to risky...and it was a too big to fail bank.... and, due to my position, they have the nerve to call me and ask for me to refer them business...
To those who have reaped the rewards of what this country has to offer who will fire and leave over a law that is not even in effect yet and probably needs tweaking, do not let the door hit you in the a-- on the way out... we all know the grass is greener in other places....
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skweet
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Post by skweet on Aug 5, 2011 18:42:45 GMT -5
as of July 31 Obama Administration proposes229 new rules and finalizes 379 rules ~EPA, healthcare reform, and financial regulatory reform rules ~$9.5 billion in new regulatory costs to businesses, paid for by reduced overhead or higher prices. Call it socialism, consumerism, protectionism or just plain, never held an actual executive or management positionism, but whatever you call it Obama does not want jobs. Blame the bank? or Realize that Dodd Franks ( game of CYA) changed the bank's ability to loan you money. I can still get a loan, but I am probably marginally safer credit than you. You were pushed out by higher capital requirements and new credit requirements, thank your senators (that's right, the same two that advised Fannie May and Freddie Mac, the guarantors of the mortgage meltdown). Wikipedia "In 2003, while the ranking Democrat on the Financial Services Committee, Frank opposed a Bush administration proposal, in response to accounting scandals, for transferring oversight of Fannie Mae and Freddie Mac from Congress and the Department of Housing and Urban Development to a new agency that would be created within the Treasury Department. The proposal, supported by the head of Fannie Mae, reflected the administration's belief that Congress "neither has the tools, nor the stature" for adequate oversight. Frank stated, "These two entities ...are not facing any kind of financial crisis ... The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."[62] In 2003, Frank also stated what has been called his "famous dice roll":[63] "I do not want the same kind of focus on safety and soundness [in the regulation of Fannie Mae and Freddie Mac] that we have in the Office of the Comptroller of the Currency and the Office of Thrift Supervision. I want to roll the dice a little bit more in this situation towards subsidised housing."[64]"
Obamacare, I am not laying off over that, but my employees' HC benefits are definitely on the chopping block.
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handyman2
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Post by handyman2 on Aug 5, 2011 19:27:40 GMT -5
One point I would like to make. Why is it so difficult to get manufacturing etc off the dime and start hiring and increase production. But let me back up and review a bit of history. We went into a depression that lasted until the second world war. Then everybody either went to war or had a job in the industrial military complex. Then the war ended. What happened next was as solders came home many went to college on the GI bill. People who had maybe never owened a car or a home wanted one. So the automobile and construction industry became a goodsend in employement as the military complex wound down. FHA and the VA provided financing for homes and banks loaned money for cars and furniture. Times became good. People were buying things they never dreamed of owning before the war. The airline industry took off. Now we cannot repeat that situation. So we must think forward.
But todays picture is quite different. We as a country are over stocked in everything. Ware houses are full to the roof of unsold products. We still have cars made in 2009 that have not been sold. Thousands of homes on the market that cannot be moved because of unemployement and glut. The reason many companies are not hiring is because we are already overburdened with stuff that we cannot sell. it does not matter who gets elected in 2012 the picture will not change for as long there is over supply and little demand. Two things we need to do is develop new demands by creating products that people want and made in this country by Americans. It is nice to be a world trader but if we want out of this mess we must start thinking America first. Other wise this current situation is here to stay for a long time. It can be done but we need creative minds to get busy.
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luckyme
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Post by luckyme on Aug 5, 2011 19:31:20 GMT -5
Interesting topic, and a question that's been asked a few times on some of the cable channels. I think it was the Kudlow Report where even the CEO's have stated they are NOT interested in the USA. They are only interested in the overseas markets.
That means the small businesses are going to have to drive the economy. But if they are having the problems like mwcpa, it is going to be a very long period of low employment.
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deziloooooo
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Post by deziloooooo on Aug 5, 2011 19:51:38 GMT -5
I am wondering if we shouldn't, the electorate, take a different outlook at how we elect a POTUS..forget political partys but put into office those who are really good at big time businesses decisions...who have no compultion for not making heavy decisions..no problem in over looking the pain their decisions will cause..able to look at a mess and order those cuts that bring businesses back to profitablility..expert at down sizing and if it costs many jobs, so be it, at the end of the day..waste is gone..profitability is back...and as far as those let go..so be it, the price of success. Just think of the over staffed federal burocracy, duplicate and triplicate departments..endless regulations of..naturally one would have to away with Congress itself..the powers anyway..oh say keep it as a advisory body, but advisory only and laws and bills, final decision in this one person. Have to do that because all those laws and regulations have been put into affect by them so you have to do away with that part of the probblem , right ..? Just think of the bloted federal system alone..even the military..all those superflouse Generals, Admirals, Naval captains cluttering up those bases, the pentagon, doing this and that.. and full Colonials too, don't foerget the Colonials....just to many.. Need a successful business man, wealthy as sin..who can come in as the new eighty year manager of the Marlins was able to do, able to look his team, in this case the country , in the eye and just say.."Hey I really don't need this F job you know..I am not going to coddle you, worry about your ego and mind set..I am here to win and will do what ever I can to do that..you play hard from the get go, you have fun..you do it my way...or you sit or worse..and I get some one else to do your job, end of story.. Just to revamp and close the looppholes..the special interest legislation, get rid of the fat, stream line the burocracy..even for just one term..then he goes home..remember , he wouldn't need this job..and just when we couldn't take it any longer, being told this , that , what ever..ordered to do this, that , no questions asked..ok asked but final decision...he would be gone, but I bet he or she would leave us in a better place then we are now, will be after the next term no matter who is in the office from what ever party.. Something to consider...whats that you say..Constitution? Whats that..SCOTUS...those old people in those dreary robes? Hey , it's only for one term, suck it up... ;D Bit extreme but still..who has a better solution..anyone.
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Post by privateinvestor on Aug 5, 2011 20:40:37 GMT -5
Interesting topic, and a question that's been asked a few times on some of the cable channels. I think it was the Kudlow Report where even the CEO's have stated they are NOT interested in the USA. They are only interested in the overseas markets. That means the small businesses are going to have to drive the economy. But if they are having the problems like mwcpa, it is going to be a very long period of low employment. Actually instead of hiring you could see the 500 largest companies in the United States continue to lay off workers and move operations overseas as part of thier cost cutting since the government is now going to also cut spending.
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handyman2
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Post by handyman2 on Aug 5, 2011 20:55:50 GMT -5
Well Dezi that would help little. It is a matter of supply and demand that we need to create jobs and get employment moving. The problem is every thing in demand is made somewhere else. To get things moving we pretty much need to go into a somewhat isolationist mentality on imports of goods elsewhere and a higher tax on those that are imported to fund research on new products in this country. We can no longer afford the favored nation and free world trade agreements. Just look at new automobiles and see how many parts on supposed cars made in America are actually made here. It might surprise you. Until this issue is resolved there will be no recovery. We buy a new car and a portion goes out of the country. It is not that manufacturing is down it is that it is manufactured in a foreign country. We are drowning in goods made elsewhere. Our biggest political mistake over the years is not protecting our own manufacturing base. By the way economists warned us about this outcome as far back as the Eisenhower administration and now the chickens have come home to roost.
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Post by privateinvestor on Aug 5, 2011 21:09:09 GMT -5
Well Dezi that would help little. It is a matter of supply and demand that we need to create jobs and get employment moving. The problem is every thing in demand is made somewhere else. To get things moving we pretty much need to go into a somewhat isolationist mentality on imports of goods elsewhere and a higher tax on those that are imported to fund research on new products in this country. We can no longer afford the favored nation and free world trade agreements. Just look at new automobiles and see how many parts on supposed cars made in America are actually made here. It might surprise you. Until this issue is resolved there will be no recovery. We buy a new car and a portion goes out of the country. It is not that manufacturing is down it is that it is manufactured in a foreign country. We are drowning in goods made elsewhere. Our biggest political mistake over the years is not protecting our own manufacturing base. By the way economists warned us about this outcome as far back as the Eisenhower administration and now the chickens have come home to roost. Also the rating agencies Moody, Fitch and S&P have been warning the Obama Administration to get a new debt reduction plan since the beginning of this year or else they would downgrade the debt..But all Obama did was blame the republicans who didn't want to increase taxes again during this economy.
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djAdvocate
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Post by djAdvocate on Aug 5, 2011 22:08:08 GMT -5
Well Dezi that would help little. It is a matter of supply and demand that we need to create jobs and get employment moving. The problem is every thing in demand is made somewhere else. To get things moving we pretty much need to go into a somewhat isolationist mentality on imports of goods elsewhere and a higher tax on those that are imported to fund research on new products in this country. We can no longer afford the favored nation and free world trade agreements. Just look at new automobiles and see how many parts on supposed cars made in America are actually made here. It might surprise you. Until this issue is resolved there will be no recovery. We buy a new car and a portion goes out of the country. It is not that manufacturing is down it is that it is manufactured in a foreign country. We are drowning in goods made elsewhere. Our biggest political mistake over the years is not protecting our own manufacturing base. By the way economists warned us about this outcome as far back as the Eisenhower administration and now the chickens have come home to roost. Also the rating agencies Moody, Fitch and S&P have been warning the Obama Administration to get a new debt reduction plan since the beginning of this year or else they would downgrade the debt..But all Obama did was blame the republicans who didn't want to increase taxes again during this economy. Obama is not alone. S&P agrees with him. here is their opinion they gave with the downgrade: Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.
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Post by privateinvestor on Aug 7, 2011 14:37:49 GMT -5
Why Are Companies NOT Hiring
Now companies have to factor in the recent downgrade by S&P into the equation whether to hire or not....
A AA rating for our nations debt with a negative outlook for lack of confidence in the ability of the governement to stablize the debt crisis in our country has to have company execs very concerned about the business outlook in 2011 and 2012.. IMHO so we shall see tomorrow what Wall St also thinks about this important fiscal issue for our government to deal with along with all the others
Uncertainitly in the fiscal policy of the USA and the so called Agreement by the congress and the administration to deal with the rising debt criisis has to have companies probably holding onto their cash and NOT hiring in the future along with ths slow growth economic projections.....
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mmhmm
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Post by mmhmm on Aug 7, 2011 14:47:54 GMT -5
I do not understand why people refuse to see that to overcome the problems with which we're faced, we're going to have to raise revenues AND cut spending. It's utterly stupid to dig in one's heels and refuse to capitulate at all. You can't have your cake AND eat it no matter what stupid party you're backing!
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Post by privateinvestor on Aug 7, 2011 15:03:03 GMT -5
As a small business owner and an adviser to many of the same... Over-regulation is not the issue, during the Bush years it became the wild west with all of the de-regulations and dismantling and mismanagement that was going on (not saying that today their is no mis-management or issues in government, there is a ton in my opinion).... the rules are set up to favor the big guy..... and they always have been.... Congress knows who will butter their bread when they leave office (or when a child needs a job) Small firms have always been the backbone of the country.... and they are the ones struggling since banks, no matter what rhetoric they provide, are still not lending.... big corporate profits are increasing, cash is stockpiled, yet jobs are going to China, India and other places... I actually know someone who works for a big company and her latest job is to come up with justification to ship 1000+ jobs to India (and these are "service" jobs that the last administration noted in a state of the union that we were becoming, a service based economy), the decision has already been made, they just need to dot i's and cross t's to "justify" it... she is sick over it.... Six months ago I had to make a large equipment purchase to upgrade computers, software and the like... the cost was about 25-30K.... I went to the bank to finance about 1/2 of it.... bank said I was a credit risk and turned me down, instead I had to pay cash, leaving me with less resources to hire staff that I could have used during my busy season, instead I had to work more hours for the same net... I have heard the same from others... heck I have a client that was going to buy his first home, he was putting down over 50% (actually closer to 60%) and the bank kept breaking his chops asking for another document, and then another, and another.... until he just fired them.... now he has to start the process all over again... and hopefully he does not lose the home he wants to buy.... We all have been asked to sacrifice at various points of our lives and many are at this time, but Congress and Big corporate America have not had to do that in a long time...sacrifice to Congress is having to come to work over the July 4th week....and with all of the issues we face, where are they all... vacation.... I too am a small business owner but not an adviser and my concern is the stock and bond markets now that we have a S&P downgrade. So I will be watching the Asian markets tonight...the Israeli markets took a nose dive and were halted. Tomorrow will be one of the days that may just give investors another headache or stomach trouble again.
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TD2K
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Post by TD2K on Aug 7, 2011 21:52:01 GMT -5
I don't have my own company but to me, hiring with more people would be viewed like any other investment. How is this going to increasing earnings and does it make sense? Uncertainity sure doesn't help companies decide to take on additional staff.
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djAdvocate
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Post by djAdvocate on Aug 7, 2011 21:54:37 GMT -5
I don't have my own company but to me, hiring with more people would be viewed like any other investment. How is this going to increasing earnings and does it make sense? Uncertainity sure doesn't help companies decide to take on additional staff. 'course not. it only makes sense to hire or expand if you have more demand than productive capacity.
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