Tough Week For US Worker-Verizon Strike & American Apparel Layoffs

The global economy is a reality that is finally coming home to roost on American employees...
 
Those are companies that made huge investments within the past 5 years expecting to increase sales, and sales went down. Sales are down across the board in the US.
 
Wrigley's said:
Those are companies that made huge investments within the past 5 years expecting to increase sales, and sales went down. Sales are down across the board in the US.
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Sales apparently weren't down in 2015.

According to Market Watch,
In all, Verizon reported a profit of $5.39 billion, or $1.32 a share, compared with a loss of $2.23 billion, or 54 cents a share, a year earlier.
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Of course, they are now saying they expect growth to be "stagnant." Sounds like a typical corporate line when you don't want to increase wages as previously promised.
 
Not to mention that Nabisco is shutting down its OREO plant in Chicago and will be making them in Mexico.
 
jnos said:
Sales apparently weren't down in 2015.

According to Market Watch, Of course, they are now saying they expect growth to be "stagnant." Sounds like a typical corporate line when you don't want to increase wages as previously promised.
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On Wall Street promised results matter for like a couple of days because those who buy stock based on good news will wind up selling with a continuous flow of "good" new hence all those press releases. Promised results simply wind up being a pump before people dump. Also many utility stocks wind up about being about the dividends as much as stock price.

I've heard the old phone companies are complaining about the old copper AND fiber optic infrastructure/services sales because wireless is taking a lot of customers out of anykind of landline. For Verizon to complain to be making a profit with one of the largest and highest paid unions in the US today is contradictory.

American Apparel just avoided a bankruptcy. And is being sued by an ex executive/founder for the way they handle business. American Apparel is basically a penny stock at this point under a dollar share. Sounds like a mismanaged company.
 
sabotage of Verizon phone lines

Verizon Strike-24 incidents of sabotage over the last week including the cutting of fiber optic cables which handle thousands of calls and internet.

http://finance.yahoo.com/news/criminals-put-thousands-verizon-customers-210100040.html

At least of few of these acts probably involve disgruntled union members. It might not be endorsed or condoned by the unions but 2 dozen incidents in one week against the same company shows mentality if nothing else. I'm all for unions and a right to strike, protest etc but the ends do not justify the means.
 
Butterfly said:
Intel has said it plans to cut 12,000 + jobs in the US. We have an Intel plant here that is one of our biggest employers and people working there are very nervous over their jobs right now.
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They're blaming it on the PC being dead. I think there is just too much competition including outsourced manufacturing in the pc market now. If there is a change next year in trade policy maybe they save a large chunk of that 12,000 number. I will say I've had better luck with Intel chips compared to AMD. But a lot computer manufacturers are putting in AMD probably to save money.
 
Butterfly said:
I didn't know the PC was dead -- there are an awful lot of live ones in offices around here! I doubt the PC is really dead.
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Of course it's not dead. Not only are they still is use and being sold the fact theat they had to put detachable keyboards with I-pads tells you the public still wants a computer. But Intel and a lot of other companies were slow to adapt to a new market which includes chips for smart phones. Apparently Intel blew off a possible Apple I phone deal seeing a poor future in that market. Now their future is poor. They got so used to being one of the few chip makers around when competition and new markets came they were ill prepared.

http://time.com/4304632/intel-layoffs-pc-microsoft/
 
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