Posted by 101livescan on 9/7/09 4:04pm
Msg #303088

More Bank Failures (including Platinum Bank)

Four in the midwest and one in Arizona, taken over by the FDIC on Friday, September 4.

http://www.foxbusiness.com/story/markets/industries/finance/missouri-bank-th-failure/

Reply by jba/fl on 9/7/09 11:45pm
Msg #303107

What really caught my eye was another article shown

under "PEOPLE WHO READ THIS ALSO READ": Shell Cutting More Jobs
Clicking on that link led to article about Royal Dutch Shell reducing costs, "which is likely to mean more job cuts..." It continutes: "The company has already cut its high-level managers ranks from 750 to 600, the paper reported.
Now the company is planning to extend the cuts to mid-level managers, in an effort to cut costs further.
Shares of Royal Dutch Shell closed at $55.68 on the New York Stock Exchange, a gain of 43 cents, or 0.8%."

Now, I'm wondering, why didn't they just throw more money (stimulus) at the company instead? And I'm thinking that cutting the upper echelon jobs makes more sense, ie, trim the fat. Why doesn't our govt. think along those lines? Then maybe we could have less problems with our banking, mortgages, etc., or so my possibly flawed reasoning goes.

Reply by 101livescan on 9/8/09 11:10am
Msg #303136

Re: What really caught my eye was another article shown

All the better. That's where the meat is. Every organization I've ever worked for cut at the bottom, double the work of the survivor employee. Makes more sense to target the larger pieces than try to make a 10% cut at the bottom. The worker bees suffer as the last man at the bottom of the totem pole.