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Tilted Cat Head
Administrator
Location: Manhattan, NY
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I know that there are a number of companies that laid off just before Christmas. I know that there are a few companies that are laying off after the New Year. The figures that I've seen are the soft figures the ones that are not reported to the government. So there's still lots of shenanigans going on.
There's still lots of people who 2 years ago got laid off and went back to school to retrain and retool. They took out student loans and federal aid, and aren't getting jobs. Their loans are now due. How will they pay them? Deferment?
The CEO summit that Obama had recently:
Quote:
Will Obama's CEO Summit Produce Jobs? | The Atlantic Wire
While there are signs that the relationship between the White House and the business community is on the mend, a number of pundits are skeptical about the summit's chances of success:
* Obama's Comments Will Fall on Deaf Ears, predicts Douglas McIntyre at 24/7 Wall St. "The president will not get large companies to do what shareholders and critics of cash-heavy corporate balance sheets have not been able to do," McIntyre says. Some large companies are using their cash to make acquisitions, increase dividends, or repurchase stock, but these activities are not benefiting the larger economy. The companies attending the CEO summit have already decided that the investments the administration is advocating "will do them no good, even if they might help the solve the president’s problem."
* Unless the President Grasps How Job Creation Works, contends Jim Cramer at MSN. "I just don't know, ideologically, whether Obama can accept the idea that hiring is a byproduct of CEOs trying to make a lot of money for themselves and for their shareholders," Cramer says, adding that Obama "seems to think that the process of making a profit may actually be wrong because it doesn't necessarily help labor."
* The Summit Won't Result In Job Creation, claims AMERICAblog's Chris in Paris: "When you look at the outrageously high annual income of these business leaders, does anyone honestly believe they have any idea what their workers are facing in this environment? These are the people who often profit from firing thousands of workers, so what's in their best (financial) interest is hardly in line with what's good for the US or employees."
* The Summit Itself Is Pathetic, argues masaccio at Firedoglake: "The most powerful country on the planet cannot do anything itself. It outsources everything, including job creation."
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