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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (264126)	7/26/2010 6:53:58 PM
From: Smiling Bob	Read Replies (2) \| Respond to of 306849

As far as economies go, China always has a potential to go Venezuela on us. I don't trust them and would be leery of having physical assets subject to the whims of current leadership. Meanwhile, our bubble has drifted to China. Our bubble was our economy. Whatever happens in China's new, bubbling economy, OUR economy and OUR standard of living will be reduced to a shell of its former self. It's not coming back. We kind of swapped places with China. China's growth is at America's expense. OUR markets are rising on prospects for multinationals. They are not rising to reflect growth in OUR economy, as MSM would like everyone to believe. WS is pushing American's quality of life to lower and lower standards. This should not be applauded. What's good for Wall Street is BAD for Main Street, Main Streets party is over. Jobs are leaving and NEVER coming back. As long as WS rules economic policy and rewards companies like UT with higher stock prices, they have every incentive to continue offshoring. *Bousbib also called United Technologies' efforts to lower overhead costs at Otis, the elevator division, a "way of life."* ----- United Technologies to cut another 1,500 job cuts United Technologies plans to cut another 1,500 jobs after eliminating 900 jobs in first half ap Stephen Singer, AP Business Writer, On Monday July 26, 2010, 3:18 pm EDT HARTFORD, Conn. (AP) -- United Technologies will cut another 1,500 this year and next on top of the 900 positions it has already eliminated in 2010, the company said Monday. The industrial conglomerate last week posted almost a 14 percent increase in second-quarter net income, citing a "relentless focus on cost." It cut deeply into its payroll during the worst of the recession, cutting 11,600 jobs last year. These most recent job cuts come, however, with the company posting its first increase in revenue in about two years as aerospace and refrigerated transportation orders rebound. The company also raised its profit expectations. The parent company of jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses said in a regulatory filing it will take restructuring and other costs of $121 million this year. The Hartford, Conn., company didn't specify where the job cuts would take place. It is a giant company that employed 206,700 workers as of the end of 2009. It said it had cut about 900 jobs as of June 30. Ari Bousbib, president of commercial companies at United Technologies, told investor analysts last month that the company has cut costs at its Fire and Security segment by moving manufacturing to low-cost sites. At Carrier heating, ventilating and air conditioning, United Technologies cut overhead and general and administrative costs and took other cost-saving actions, he said. The business also shed 11,000 employees, about a quarter of the work force, Bousbib said. Bousbib also called United Technologies' efforts to lower overhead costs at Otis, the elevator division, a "way of life." United Technologies Corp. said Monday no plans for "significant other actions have been finalized." Shares rose 49 cents, to $71.38 in afternoon trading.