Monday, January 26, 2009

Pfizer, Caterpillar and Home Depot Layoff 40,000 Today

More at Huff Post: “WASHINGTON — The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business _ Pfizer, Caterpillar and Home Depot.

More pink slips, pay freezes and other hits are expected to slam workers in the months ahead as companies desperately look for ways to survive.

"We're just seeing the tip of the iceberg _ the big firms," said Rebecca Braeu, economist at John Hancock Financial Services. "There's certainly other firms beneath them that will lay off workers as quickly or even quicker."

Looking ahead, economists predicted a net loss of at least 2 million jobs _ possibly more _ this year even if President Barack Obama's $825 billion package of increased government spending and tax cuts is enacted. Last year, the economy lost a net 2.6 million jobs, the most since 1945, though the labor force has grown significantly since then.

The unemployment rate, now at a 16-year high of 7.2 percent, could hit 10 percent or higher later this year or early next year, under some analysts' projections.”

-- And how many people do we need to have jobless before we call this a Depression?

"Crude" Movie Lies - The Movie "Crude" Forgets About Ecuador

There's a new movie out called "Crude" which is a kind of documentary about the Ecuadorian oil spill problem. The trouble is, it forgets about how Petroecuador shirked its responsibility in maintaining the oil production facilities left behind after the transfer from Chevron / Texaco in 1998. I explained that in this video:

And now, there's a new website outlining the lies of "Crude" and called "Crude Movie Lies".

Raw Video: Blagojevich Prepares for PR Blitz - Associated Press

AssociatedPress - Illinois Governor Rod Blagojevich is in New York City this morning for a public relations blitz. He will appear on several morning talk shows. His impeachment trial also starts today in the Illinois capital. (Jan. 26)

The Underground Chinese Hip-hop Movement

TheNewYorkTimes - Underground Chinese Hip-hop, which is growing in popularity amongst students and working class Chinese, is a profitless, and often subversive, activity for its practitioners.