Interest rate cuts, economic stimulus, tax relief, etc.
Yeah, these are all key factors that will positively impact the market going forward,
but I currently remain a dark-side player due to two key negative factors: debt and employment.
As for employment, the magnitude of recent layoff announcements is truly alarming IMO:
Date | Company | No. Of Layoffs | % Of Workforce
Oct. 26 | Level 3 Commmunications | 750 | 17%
Oct. 25 | BF Goodrich | 2,400 | 8%
Oct. 24 | General Mills | 459 | about 4%
Oct. 24 | Hershey Foods | 400 | about 8%
Oct. 24 | Sears | 4,900 | 3%
Oct. 24 | Eastman Kodak | 3,500 to 4,000 | up to 5%
Oct. 24 | Phelps Dodge | 1,4400| 9%
Oct. 24 | Cendant | 26 | less than 1%
Oct. 23 | Electronic Arts | 200 | about 5%
Oct. 23 | AT&T | 2,400 | 2%
Oct. 23 | Electronic Data Systems | Undisclosed
Oct. 22 | SBC Communications | 6,500 | 3%
Oct. 22 | Emerson | 4,000 | 3%
Oct. 22 | Omnicom Group | 20 | Less than 1%
Oct. 22 | Lexmark International | 1,320 | 12%
Oct. 19 | Sycamore Networks | 240 | 24%
Oct. 18 | Merrill Lynch | 4,500 | 6%
Oct. 18 | BellSouth | 3,000 | 3%
Oct. 18 | Alcan | 2,600 to 3,600 | Up to 7%
Oct. 18 | Coca-Cola Enterprises | 2,000 | 3%
Oct. 18 | Bear Stearns | 830 | 7.5%
Oct. 18 | McDonald's | 500 to 700 | Less than 1%
Oct. 18 | Sara Lee | 230 | Less than 1%
Oct. 18 | Verizon Communications | 170 | Less than 1%
Oct. 17 | Dana | 11,250 | 15%
Oct. 17 | Sprint | 6,000 | 7%
Oct. 17 | TRW | 2,400 | 2%
Oct. 17 | EMC | 1,600 | 15%
Oct. 17 | i2 Technologies | 1,000 | 25%
Oct. 17 | ONI Systems | 125 | 16%
Oct. 16 | United Technologies | 5,000 | 3%
Oct. 16 | Unisys | 3,000 | 8%
Oct. 16 | American Standard | 1,000 | 2%
Oct. 16 | Reuters Group | 500 | 3%
Oct. 15 | Siemens | 7,000 | 2%
Oct. 15 | Cap Gemini Ernst & Young | 600 | 1%
Oct. 12 | Computer Associates | 900 | 5%
Oct. 10 | International Paper | 142 | Less than 1%
Oct. 10 | Goodyear | 1,400 | 1%
Oct. 10 | Goldman Sachs | 300 to 400 | about 1.5%
Oct. 9 | Motorola | 7,000 | 5%
Oct. 9 | Credit Suisse Group | 2,000 | 7%
Oct. 8 | Swissair Group | 9,000 | 13%
Oct. 5 | Sun Microsystems | 3,900 | 9%
Oct. 5 | TMP Worldwide | 1,250 | 16%
Oct. 5 | TDK | 8,800 | 24%
Oct. 5 | Cable & Wireless | 400 | 1%
Oct. 4 | Corning | 4,000 | 13%
Oct. 4 | Interpublic | 15 | Less than 1%
Oct. 4 | Alcatel | 3,038 | 2%
Oct. 3 | Nortel Networks | 20,000 | 21%
Oct. 3 | General Electric | 4,000 | 1%
Oct. 3 | McLeodUSA | 1,600 | 15%
Oct. 3 | Nordstrom | 1,600 | 3.6%
Oct. 2 | XO Communications | 600 | 8%
Oct. 2 | Weyerhaeuser | 110 | less than 1%
Sep. 28 | Atmel | 2,500 | 26%
Sep. 27 | Exelon | 450 | about 3%
Sep. 27 | Air Canada | 9,000 | 39%
Sep. 26 | Delta Air Lines | 13,000 | 16%
Sep. 26 | Textron | 2,500 | 3%
Sep. 25 | Starwood Hotels and Resorts | 10,000 | 8%
Sep. 25 | AMD | 2,300 | 15%
Sep. 25 | Rockwell Automation | 750 | 2%
Sep. 24 | MGM Mirage | Undisclosed
Sep. 24 | Park Place Entertainment | Undisclosed
Sep. 21 | Northwest Airlines | 10,000 | 19%
Sep. 21 | Applied Materials | 2,000 | 11%
Sep. 20 | American Airlines | 20,000 | 14%
Sep. 20 | United Airlines | 20,000 | 20%
Sep. 20 | Honeywell | 3,200 | 3%
Sep. 20 | LSI Logic | 600 | 8%
Sep. 19 | Boeing | 20,000 | 10%
Sep. 17 | US Airways | 11,000 | 23%
Sep. 15 | Continental Airlines | 12,000 | 21%
Sep. 10 | Qwest Communications | 4,000 | 6%
Sep. 10 | Michelin Group | 2,000 | 3%
Sep. 7 | Sanmina | 265 | 1%
Sep. 6 | Motorola | 2,000 | 1%
Sep. 6 | American International Group | 1,500 | 3%
Sep. 6 | Westvaco | 430 | 3%
Sep. 5 | Hercules | 300 | 3%
Sep. 4 | Hewlett-Packard | 15,000 | 10%
This info was taken from Forbes.com
forbes.com
Not including the September/October period,
the numbers looked like this:
Month # Of Jobs Lost* % Of Annual Total
August 2001 85,538 13.14%
July 2001 97,333 14.96%
June 2001 65,433 10.05%
May 2001 37,237 5.72%
April 2001 87,319 13.42%
March 2001 105,491 16.21%
February 2001 56,927 8.75%
January 2001 115,484 17.75%
Total through Oct. 26 = 907,847
(figures represent only the job cuts by companies on The Forbes 500s and the Forbes International 500)
AdvocateDevil |
