Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (48382)	10/24/2003 1:01:05 PM
From: Alan Smithee	Respond to of 57110

Merck to cut 4,400 jobs Drugmaker misses profit estimates due in part to slowing arthritis drug sales; stock sinks. October 22, 2003: 11:11 AM EDT NEW YORK (Reuters) - Drugmaker Merck & Co. Inc. posted Wednesday a flat third-quarter profit, falling short of expectations, and set a restructuring that will cut about 4,400 jobs. 4,000 jobs here, 5,000 jobs there. Pretty soon it begins to add up.

To: MulhollandDrive who wrote (48382)	10/24/2003 1:18:09 PM
From: Oral Roberts	Read Replies (1) \| Respond to of 57110

I agree. And at some point all of these unemployed consumers have to have an impact on every company that makes anything that you don't absolutely have to have to survive. Pretty much all of them except HMO's and drug makers perhaps. You don't buy 8 mpg SUV's for 50K when you don't have a job I'm thinking. I see today that GM is offering I thought I saw a 4K rebate on the Grand Am. When I was in the car biz that car had about 1300 profit for the dealer not counting holdback when sold at full sticker. Have to believe that GM's bottom line isn't going to look very spiffy as long as they have to pay people to buy their cars and pay 0 interest.