Timesizing® Associates

dooms du jour, September/2001
[Commentary] ©2001 Phil Hyde, The Timesizing Wire, Box 117, Harvard Sq, Cambridge MA 02238 USA (617) 623-8080


9/30-10/01/2001
- in true contrarian fashion, now that even economists
have declared 'RECESSION,' we front the good news
-
weekend roundup per the NY Times & Boston Globe:
< YTD: 236 timsiz+103 upsz(84255+=6%)+45 untk($103B+) vs 1012 dnsz(1428669 jbcts)+1143 takv($693B)+163 bkrp >
8 TIMEsizing stories + 7 UPsizings (2300+ new jobs) + 1 UNtakeover ($??)

vs.   • 5 bankruptcies    • 33 downsizings, netting 57,204+ lost jobs (61,704 gross)
• 15 takeovers reported this week, worth over $7.84B

weekend glimmers of hope:
• 1 weekend UPsizing - ?? new German jobs at zeppelin co.
• insight - working overtime to escape tragedy can backfire 
• 1 timesizing item: metalworkers union in Brazil will strike unless Embraer does 17%
workweek cut (from 43½ hrs to 36) instead of 14% workforce cut (1800 lost jobs)

vs. doom du jour:
7 weekend downsizing reports, totaling 825 +?? jobcuts:
• 525 US ad-agency jobcuts spread across Campbell Mithun,
• Goodby, Silverstein & Partners, • iXL, • Media Passage, and • Modem Media
• 3% of workforce cut (300 lost London jobs) as Cordiant ad agency fuels its own drop in profitability,
instead of just trimming its workweek by 3% (less than 15 mins/day for whole firm including its top
executives) & keeping everyone together, employed, earning & shopping 97% their usual amount
• ?? cuts as falling insurance repay & rising red tape closes Greenery Rehab Ctr in Brighton, Ma.
+ 1 work-related suicide story: • chief of struggling Tokai Construction hara-kiri's in Tokyo
+ symptoms: • foreclosures to soar by year's end

9/29/2001 sat (re fri biz)
today's timesizing news:
• Northwest and Continental Airlines cut 4500 off their 22000 planned layoffs by introduc-
ing kludgy timesizing = 5-12 mo. furloughs with unemployment & key company benefits
• French joblessness creeps back up from 8.9% to 9% in August as rigid workweek
reduction for large private companies reaches its limits in job creation
• Fiat practices week by week timesizing to avoid layoffs
+ several glimmers of hope:
• 2 UPsizings: - new Axis-Specialty insurance firm
- new T. J. Maxx clothing store in downtown Boston
• 1 UNtakeover: EU blocks Schneider Electric's grab of Legrand
• from NATO to United Nations, all members must act vs. terrorists
• Northwest and American Airlines relinquish tough no-severance stance
• Mesa Air does 10% pay cut cushioned with 150 stock options and bonus
• now top execs at United, US Air, American, Delta & Continental forgo pay
vs. doom du jour:
2 takeovers, totaling $??, cited in NYT & Boston Globe (BG)
+ 4 downsizings, net 900 jobcuts, of gross 5400 cuts +??, reported in NY Times & BG:
• 15% workforce cut (4300 Nev. jobs lost) as Mandalay Resort casinos gambles
on clobbering morale, instead of just trimming its workweek 15% (to five 7¾-hour
days for whole company including top executives), re-investing overtime savings in overtime-
targeted training, & keeping everyone united, working, earning and gambling 85% as much as usual
• 900 US & Brazil jobcuts at Praxair  • 200 US cuts at Weyerhaeuser  • unspecified US cuts at Cendant
hotels   • negative-4500 cuts as Northwest and Continental Airlines timesize instead of downsize
+ 1 bankruptcy reported: • At Home Corp. dba Excite@Home files for Chapter 11 protection
+ symptoms: • Japan bank loans  • Hawaii tourism  • airport shops' rent  • our "leaders'" estate taxes
Features: • new page about the 40/40/40 Plan  • time off for steam trains
makework pages • lost key to small government • website reactions
• embryonic legislation page  • 30-hour bill page  • opus errata

9/28/2001 fri
today's timesizing stories:
• France demonstrates another degree of flexibility
in moving into the future of workweek reduction
+ several glimmers of hope:
• 2 UPsizings: - 2000 new Tenn. jobs at Nissan
- unspecified new jobs as JC Penney opens 14 stores
• retired airforce colonel believes war on terrorism is war of ideas
vs. doom du˙jour:
2 takeovers, totaling $??, cited in NYT & Boston Globe (BG)
+ 6 downsizings, totaling 7887 jobcuts, reported in NY Times & BG:
• 18% workforce cut (4000 Euro jobs lost) as Agfa-Gevaert film self-
mutiliates instead of just trimming its workweek 18% (to four 8hr12min days
for whole firm including top execs), re-investing overtime savings in overtime-targeted
training, & keeping everyone together working, earning & buying 82% as much film as usual
• 2000 Japan jobcuts as Nissan moves unit to US  • 750 US-Canada-Euro jobcuts at Milacron  • 460 US
cuts at LowestFare.com  • 450 US cuts at Exelon power  • 227 US cuts at New World Pasta
+ symptoms: • millionaires beg people to take time they don't have to spend money they
don't have = Great Depression deja-vu     • jobless claims mount to 9-year high
Features: • new page about the 40/40/40 Plan  • time off for steam trains
makework pages • lost key to small government • website reactions
• embryonic legislation page  • 30-hour bill page  • opus errata

9/27/2001 thu
no timesizing stories today
but several glimmers of hope:
• 3 UPsizings: - at least 300 new jobs at Applied Materials in Mass.
- unspecified new jobs at Norsk Hydro in Texas and - at Cargill in China
• Ellen Goodman nails Hollywood's narrowing focus on propaganda˙for violence
vs. doom du˙jour:
3 takeovers, totaling $3.61B + $??, cited in NYT & Boston Globe (BG)
+ 8 downsizings, totaling 30,411 jobcuts, reported in NY Times & BG:
• 16% workforce cut (13000 jobs lost) as Delta joins the self-accelerating death
spiral, instead of just trimming its workweek 16% (to five 6¾-hr days for whole firm
including top execs), re-investing overtime savings in overtime-targeted training,
& keeping everyone united, working, earning & flying 84% as much as usual
• 5000 jobcuts at Air Canada  • 4800 cuts at LSG Sky Chefs  • 3800 Canada,
US & UK cuts at Bombardier  • 2500 cuts at Textron  • 900 cuts at Lucent 
• 360 Korean cuts at Asiana Air  • 51 at Chicago Board of Trade
+ 1 bankruptcy reported: • Exodus Communications
Features: • new page about the 40/40/40 Plan  • time off for steam trains
makework pages • lost key to small government • website reactions
• embryonic legislation page  • 30-hour bill page  • opus errata

9/26/2001 wed
today's timesizing stories:
• Maui's Kapalua golf resort tries hours & pay cuts before resorting to jobcuts
• Canadian union is looking at a 36-hour workweek to save jobs at Air Canada
+ general glimmers of hope:
• American Airlines' CEO volunteers to take no pay for the rest of the year
vs. doom du˙jour:
1 takeover, worth $undisclosed, cited in NYT & Boston Globe (BG)
+ 12 downsizings, totaling 11,045 jobcuts +??, reported in NY Times & BG:
• 11% workforce cut (2500 mostly Italian jobs lost) as Alitalia self-amputates, instead of just trimming its
workweek 11% (to five 7hr7min days for whole firm including top execs), re-investing overtime savings
in overtime-targeted training, & keeping everyone together, earning & flying 89% as much as usual
• 2300 global jobcuts at Advanced Micro  • 1800 NYC cuts from among Local 6 of Hotel & Restaurant
Workers  • 1050 cuts at Rockwell Automation  • 1000 at American Standard  • 1000 at Coles Myer in
Australia  • 825 at Exodus Communications  • 500 at Excite@Home,  • 25 at City Hall Restaurant in
NY  • 25 at XYZ 2-Way Radio Service in NY  • 15 +unspecified at Newport Creamery  • last 5
survivors of Cantor Fitzgerald's bond dept. as firm tells them it's moving dept. to London 
+ symptoms: • unions criticize top executives for passing all the pain along to employees 
• Congress breaks promise, dismisses helping employees, lets executives keep fattening
• so naturally, consumer confidence and spending weaken and recession deepens
Features: • new page about the 40/40/40 Plan  • time off for steam trains
makework pages • lost key to small government • website reactions
• embryonic legislation page  • 30-hour bill page  • opus errata

9/25/2001 tue
- fronting the good news, now the R-word 'recession' is being used -
today's timesizing stories:
• Waterford Crystal cuts glass & hours, not jobs
• phased retirement involves shorter hours for seniors
+ several general glimmers of hope:
• Brits tread where US officials chicken - vs. Microsoft
• Americans finally realize stocks don't automatically rise
• people taking trains (but now Amtrak wants taxpayer $$)
• people taking trains (but airline executives not dropping fares)
• employee-friendliest airline, Southwest, is hurtin' least, valued most
• now US suddenly thinks for the moment it 'needs' the world, it pays UN dues
vs. doom du jour:
6 takeovers, totaling $1.73B + $??, cited in NYT & Boston Globe (BG)
+ 3 downsizings, totaling 6960 mostly US jobcuts, reported in NY Times & BG:
• 3½% workforce cut (3,800 more jobs lost) as Honeywell deepens its self-punishment, instead of just
trimming its workweek 3½% (17 mins. a day for whole firm including top execs), re-investing overtime
savings in overtime-targeted training, & keeping everyone earning & purchasing 96½% usual amounts
• 3000 US & Canada jobcuts as Swissair chops its food service  • 160 cuts at Excelon
+ 3 bankruptcies reported: • Dairy Mart files Chapter 11, with $30m debt
• Phar-Mor drugstore chain  • E-M Solutions electronics
+ symptoms: • Taiwan in the toilet
• the world "as Americans knew it" has changed?
• other tokens of breath-taking American parochialism
Features: • new 40/40/40 page  • time off for steam trains
makework pages • lost key to small government • website reactions
• embryonic legislation page  • 30-hour bill page  • opus errata

9/23-24/2001
- in true contrarian fashion, now that even economists
have declared 'RECESSION,' we front the good news
-
weekend roundup per the NY Times & Boston Globe:
5 TIMEsizing stories + 1 UPsizing (35,000 new jobs) + 0 UNtakeovers ($0)

vs. • 9 takeovers reported this week, worth over $4.38B
• 39 downsizings, netting 113,704+ lost jobs (133,704 gross)
• 3 bankruptcies   • 1 homelessness item, &...   • 1 prison story  

< YTD: 228 timsiz +96 upsz(81955+=6%) +44 untk($103B+) vs 979 dnsz (1371466 jbcts)+1128 takv($685B)+158 bkrp >
weekend glimmers of hope:
• at last we venture to use the R word, recession
• casts & crews keep Broadway going via paycut
• chances good for sobering up immigration policy
• an American Jew distinguishes Judaism from Israel's policies
• VP wants unsavory characters back in CIA, but haven't we been there?
• Kuttner explodes worship of private sector - WTC heroes were public servants
• Bush's Agriculture Sec'y actually protests corporate welfare & neglect of environment

vs. doom du jour:
1 weekend takeover report, worth $2.5B
+ omens: • credit card defaults up in 2nd quarter

9/22/2001 sat (re fri biz)
- the cluelessness continues - our captains of industry consolidate & cut jobs,
then marvel that their markets are smaller -

symptoms: • Dow's % plunge for the week beats 1929
• Congress votes $15 bailout for airlines if cap exec pay (but...)
+ 1 bankruptcy reported: • Komag storage disks files Chapter 11 plan
+ 9 downsizings, totaling 22,297 mostly US jobcuts, reported in NY Times & BG:
• 19% workforce cut (10,000 lost jobs) as Northwest Airlines chews off its leg, instead
of just trimming its workweek 19% (to just over five 7-hr days for whole firm in-
cluding top execs), re-investing overtime savings in overtime-targeted training, &
keeping everyone united working, earning & shopping 81% as much as usual
• 6307 Japan jobcuts as Asahi, Daiwa, Kinki Osaka & Nara Banks merge
• 1500 cuts at American Trans Air  • 1200 at Navigant air travel bookings
• 900 more cuts to count at Midway Airlines  • 800 jobcuts at Spirit Air
• 700 at Mesa Air  • 450 at Midwest Express  • 440 at Frontier Airlines
+ 2 takeovers, totaling $643m + $??, cited in NYT & Boston Globe (BG)
vs. glimmers of hope?
• $200m in charity pours in for terrorists' victims (but you can't run a modern economy on charity)
• Massachusetts Acting Gov. Jane Swift (Republican) says spending is key to economic recovery
• Sept. 11 vaporizes Star Wars missile 'defense' (but spineless Democrats kowtow regardless)

9/21/2001 fri
- to war or to share - CEOs slant deck toward war -
but is terrorism big enough foe to centrifuge wealth & spark recovery? -

2 takeovers, totaling $3.5B + $??, reported in NY Times & Boston Globe (BG)
+ 11 downsizings, totaling 13,197 jobcuts + unspecified, reported in NYT & BG:
• 13% workforce cut (5200 lost UK jobs) as British Airways reacts self-damagingly to air
travel slump, instead of just trimming its workweek 13% (to just under five 7-hr days for
whole firm including top execs), re-investing overtime savings in overtime-targeted
training, & keeping everyone together earning & shopping 87% as much as usual
• 2400 jobcuts at EMC data storage  • 2000 cuts at Applied Materials  • 1700 at Aer
Lingus  • 1200 at Virgin Atlantic  • 400 Boston cuts at Beth Israel Deaconess  • est. 150
cuts at Steelcase  • at least 100 as 6 Broadway shows close early  • 45 Ma. cuts at
Robotic Vision  • 2 at Royal White Laundry  • unspecified cuts (1/6) at Alitalia
vs. glimmers of TIMEsizing:
• NY hotel unions press members to cut hrs
• Boston hotels are reducing hours to limit layoffs
• Somerville MA cleaners cuts hrs 20% to hold layoffs at 20%
• Nucor at work - reducing workweeks & completely avoiding jobcuts

9/20/2001 thu
2 takeovers, totaling $11m + $??, reported in NY Times (NYT) & Boston Globe (BG)
+ 2 downsizings, totaling 20,000 jobcuts + unspecified, reported in NYT & BG:
• 20,000 US jobcuts as AMR, owner of American Airlines and TWA,
joins the paroxysms of short-sighted self-amputation, instead of
trimming workweek for all & keeping everyone together
• unspecified jobcuts at Eastman Kodak 
+ 1 bankruptcy reported: • Pasminco
vs. glimmers of hope:
• 1 UPsizing: 35,000 reservists are activated, whom businesses must replace
• NY Times reader says, layoffs at time of national stress are national disgrace
• US trade deficit falls (but because of shrinking US demand, not increased "buying American")

9/19/2001 wed
3 takeovers, totaling $221m, reported in NY Times & Boston Globe
+ 11 downsizings, net 35,030 jobcuts of total 65,030 reported in NYT & BG:
• 30,000 US jobcuts as Boeing reacts self-destructively to drop in aircraft orders
• 20% workforce cut (20,000 lost US jobs) as United Airlines panics over air-travel's
terror-tinged tanking, instead of just trimming its workweek like AirTran Airways (see
'glimmers of TIMEsizing' below), re-investing overtime savings in overtime-targeted
training, & keeping everyone together, working, earning, & flying 80% as much as usual
• 5,500 cuts at Honeywell (minus 30,000 prematurely counted)  • 4,200 German cuts at
Dresdner Bank  • 4,000 German cuts at Commerzbank  • 1,000 US cuts at Midway
Airlines  • 160 more Ca. cuts at AltaVista  • 70 NH cuts at Bowstreet  • 61 Ma. cuts
at International Data  • 30 Ma. cuts at Peoplestreet  • 9 Ma? cuts at Virtual Inc.
+ 1 bankruptcy reported: • electronics maker MCMS of Calif., with $170.1 debt
+ 1 homelessness item: • homeless kids starting to get tailored schools in
USA, but not without squawks from well-meaning saboteurs
vs. glimmers of TIMEsizing:
• Teamsters union gets shorter workweek for AirTran mechanics in Atlanta, instead of layoffs

9/18/2001 tue
no takeovers reported in NY Times (NYT) & BG
but 4 downsizings, totaling 11,030 jobcuts +?? reported in NYT & Boston Globe (BG):
• 25% workforce cut (11,000 lost US jobs) as US Air freaks over terrorist-fueled air-travel
slump, instead of just trimming 25% of its workweek (to five 6-hour days for whole firm
including top execs), re-investing overtime savings in overtime-targeted training, &
keeping everyone together, earning, & traveling 75% usual amount
• 30 Ma. jobs in smoke as fire hits Universal Metals in Worcester
• unspecified Ill. cuts by Manufacturers' Services
• unspecified Mich. cuts by FiberMark
+ omens: • DOW plummets 685 points, record day-point loss
• more misdirected efforts to salvage insane highrise concept
• allies caution Bush against military tarpit that is Afghanistan
vs. glimmers of insight: • the phrase "new world disorder" grows legs
• Fed tries to buoy stocks (but not its job)  • efforts begin to make jet fuel less explosive
• New Yorkers find solace in Mozart - New York City Opera's production of Magic Flute

9/16-17/2001
- isn't it too bad that even during a disaster, America's CEOs can't grope their way
to a less traumatic response to downturn (
timesizing for everyone)
than mass layoffs (
downsizing for 10-20%, repeatedly) -
weekend roundup per the NY Times & Boston Globe:
• 15 takeovers reported this week, worth over $13.48B
• 13 downsizings reported, costing over 112,816 lost jobs
• 3 bankruptcies   • 1 prison story   • 1 work-related suicide

vs. 0 TIMEsizing stories + 0 UPsizings (0 new jobs) + 0 UNtakeovers ($0)
< YTD: 940 dnsz (1257762 jbcts) +1119 takv($681B) +155 bkrp vs 223 timsiz +95 upsz(46955+=4%) +44 untk($103B+)>
2 weekend downsizing reports, totaling 12,150 jobcuts:
• 21% of workforce cut (12,000 lost US jobs) as Continental Airlines reacts the
wrenching way to airtravel drop, instead of trimming its workweek by 21% (to four 7.9-hr
days for whole firm including its own top execs) & keeping everyone together,
employed, earning & proceeding with 79% of their usual air travel
• 150 skycap jobs tossed in Boston as FAA checks curbside check-in
+ 1 weekend prison story: • plans for federal lockup in Berlin NH
+ weekend omens: • drop in air travel strains trains & buses
• Boston's tourism flattened during leaf-peeping peak
• salary hikes hit by slump (but short-sighted employers rejoice)
• credit card firms intensify their suicidal warfare on their customers
vs. weekend glimmers of insight
:
• why do they hate us? - 'impartial' peace process includes giving nearly ½ our foreign aid to Israel &
• calling Palestinian violence "terrorist acts" but Israeli violence "targeted killings"
• last 6 US presidents have winked at big Israeli land heist
• NYC seen as more civil (but across the country...)
• big neighbor to the north shares US grief

9/15/2001 sat (re fri biz)
1 takeover, value $133m, reported in NY Times (NYT) & BG
but 2 downsizings, totaling 2566 jobcuts reported in NYT & Boston Globe (BG):
• 6% workforce cut (1,000 lost Swiss & Canada jobs) as STMicroelectronics overreacts to
semiconductor downturn, instead of just trimming 6% of its workweek (29 mins/day for
whole firm including top execs), re-investing overtime savings in overtime-targeted
training, & keeping everyone together, earning, and buying 94% of usual computer stuff
• 66 Canada cuts as weakening markets stampede Wi-LAN wireless in Calgary
+ 1 bankruptcy reported: • Japan's 4th-largest supermkt chain, Mycal, with $12.6B debt
+ omens: • NORAD fighter jets based 70 miles too far away to help • industrial output
down even before attacks • Ariel Sharon fails to love his enemy, or his friend (US) • US
airlines teetering on bankruptcy • draft cards of US college freshmen grow ominous
vs. glimmers of hope:
• deal with danger separate from anger • SEC eases buybacks • Canada welcomes diverted flights
• Castro offers medical help • Boston Airport opened this a.m. • new armorplated arrival in America

9/14/2001 fri
1 takeover, value $undisclosed, reported in NY Times (NYT) & BG
but 2 downsizings, totaling 1,000 jobcuts +?? reported in NYT & Boston Globe (BG):
• 11% workforce cut (1,000 lost US jobs) as Teradyne hyper-reacts to semiconductor
downturn, instead of just trimming 11% of its workweek (to five 7hr-7min days for whole
firm including top execs), re-investing overtime savings in overtime-targeted training, &
keeping everyone together, earning, and buying 89% as much computerphernalia as usual
• unspecified Aussie cuts as Ansett Air freezes flights
+ omens: • some succumb to recession outlook after terrorists tumble Towers • depression
earmark - global deflation • econofears flare - central banks strengthen financial dikes
• $100m in gold somewhere in the rubble • early bond trading sends rates plummeting
• FCC moves to consolidate media further
vs. glimmers of hope:
• Asia & Europe stocks rebound • firms giving up on Wall St. & moving out
• airlines seek to douse firestorm of lawsuits • passengers give up on airlines, take road or track
• Bush to snuff terrorist networks & harboring states

9/13/2001 thu
no takeovers reported in NY Times (NYT) & BG
but 1 downsizing, totaling 100,000 jobcuts reported in NYT & Boston Globe (BG):
• 22% workforce cut (100,000 lost German jobs) as German army 'reforms' for lack of
enemies, instead of just trimming 22% of its workweek (to five 6hr-14min days for whole
army including top brass), re-investing overtime savings in overtime-targeted training, &
keeping everyone together, earning, and shopping 78% as much as usual
+ 1 bankruptcy reported: • Ansett Airways, Aussie's #2 airline
+ omens: • Wall Street faces fact that money isn't everything • real NYC events followed
Hollywood scripts, but H'llwd declares intermission • America goes paranoid, gun sales up • airlines are toast • businesses face loss of records • record insurance claims awaited
vs. glimmers of intelligence: • attacks were predictable result of US 'policy'
• let's heed wake-up call & quit letting US drift into role of biggest rogue state
• execs realize they're vulnerable  • central banks pump in $$ transfusion
• bond trading reopens, but only because wealthy seek safe haven

9/12/2001 wed
4 takeovers totaling $11.09B + $undisclosed, reported in NY Times (NYT) & BG
+ 3 downsizings, totaling 1340 jobcuts +?? reported in NYT & Boston Globe (BG)
• 14% workforce cut (840 lost US jobs) as Anixter wire & cable spooks over lower
forecasts, instead of just trimming 14% of its workweek (to 6hr,53mins/day for whole
firm including top executives), re-investing overtime pay in overtime-targeted training,
& keeping everyone together, earning, and spending 86% as much as usual
• 500 more Finnish cuts at Nokia  • unspecified US cuts as Key3Media chops 10%
+ 1 prison story: • inmate increase & parole violations boost NH prison costs
+ omens: • US attacked - if "US" = Wall Street & the Pentagon
• fear biggest threat to economy - consumer fear...
• Wall Street won't open till Friday, & oh nooo,
• commerce disrupted across nation
vs. glimmers of hope:
• Fa. Helmick of BC recommends we understand the anger at˙America
that bred the terrorism, and return to our role as champion˙of justice

9/11/2001 tue
- no scuds, no bioweapons, just planes & fuel & America in shambles -
how can you possibly defend against unpredictable violence - except...
by humility & non-violence that doesn't reflect back arrogance & violence -

9 takeovers totaling $2.26B + $undisclosed, reported in NY Times (NYT) & BG
+ 5 downsizings, totaling 7910 jobcuts +?? reported in NYT & Boston Globe (BG)
• 6% workforce cut (6900 lost US jobs) as Qwest fiber optic & phone networks abreacts
to slow growth by worsening it, instead of just trimming 6% of its workweek (29 mins/day
for whole firm including top executives), re-investing overtime pay in overtime-targeted
training, & keeping everyone together, earning, and shopping 94% as much as usual
• 2000 US & Canada cuts by Michelin  • 1050 Eire & UK cuts by Gateway  • 860 N.H.
cuts by Pulp & Paper of America  • unspecified cuts at PRI Automation
+ 1 bankruptcy reported: • American Tissue Inc.
+ 1 work-related suicide: • disgruntled security guard comes ba-a-ack
+ omens: • US forecasts down • Japan wholesale prices down • Nikkei down
• US enters 3d world with child sex trade
vs. glimmers of hope:
• political satirist Jimmy Tingle shouts "Enough˙already!"
to Massachusetts Legislature's holdup of funding for Clean˙Elections

9/09-10/2001
weekend roundup per the NY Times and˙the Boston Globe:
• 28 takeovers reported this week, worth over $51.45 billion
• 18 downsizings reported this week, costing over 36,446 lost jobs
• 3 bankruptcies  

vs. 7 TIMEsizing stories + 2 UPsizing (180 new jobs) + 2 UNtakeover ($??)
< YTD: 927 dnsz (1144990 jbcts) +1104 takv($668B) +152 bkrp vs 223 timsiz +95 upsz(46955+=4%) +44 untk($103B+)>
+ weekend omens: • Warsh - govt's cave-in to Microsoft corrupts our political life
vs. weekend glimmers of hope
:
• good times for security firms, but that ain't sayin' much

9/08/2001 sat (re fri biz)
2 takeovers totaling $132m + $undisclosed, reported in NY Times (NYT) & BG
+ 3 downsizings, totaling 11,944 jobcuts +?? reported in NYT & Boston Globe (BG)
• 29% workforce cut (6900 lost French jobs) as Moulinex food processors slices & dices
more of its own flesh, instead of just trimming 29% off its workweek (down
to four 7hr,6min-days for whole firm including top executives), re-investing
overtime pay in overtime-targeted training, & keeping everyone together,
employed, earning, and buying 71% as many kitchen gadgets as usual
• 5000 cut from Chilean Army  • 44 cuts at Genomic Solutions
+ 1 bankruptcy: • Moulinex in France can't get majority holder to fund reorg
+ omens: • unemployment up to 4.9%, stocks tumble on realization no qik fix
vs. glimmers of hope:
• 'good but' - Bush focuses momentarily on joblessness (but˙most of his 'solutions' will worsen it)

9/07/2001 fri
3 takeovers totaling $264m reported in NY Times (NYT) & BG
+ 6 downsizings, totaling 3277 jobcuts +?? reported in NYT & Boston Globe (BG)
• 1.7% workforce cut (2000 lost jobs) at Motorola cuts ever deeper, instead of
just trimming 1.7% off its workweek (8 mins/day for whole firm including top
executives), re-investing overtime pay in overtime-targeted training, & keeping
everyone together, employed, earning & shopping 1.7% as much as usual
• 800 cuts at Kmart  • 430 at Westvaco  • 47 at Finwick & West 
• unspecified cuts at Rawlings Sporting Goods & at • Netfolio
+ 1 bankruptcy mentioned: • Warnaco, maker of Calvin Klein
& Speedo, thanks to one of highest-paid CEOs in US
+ 1 omen & n symptoms: • milquetoast Bush chickens on splitting Microsoft
(how much did Bill pay him?)  • next target, nursing homes  • 'results' already
showing in state college tuition, • small town employment, • retail, and
• all-time high consumer debt
vs. glimmers of hope:
• 1 UPsizing: Benchmarketing Analytics opens in Conn.
glimmers of TIMEsizing: - British article faults 35-hr week, but
blame rolls off onto deep sickness in French (& global) healthcare professions
- American consulting firm tells project managers, 'putting in longer hours isn't the answer'

9/06/2001 thu
7 takeovers totaling $23.4B reported in NY Times (NYT) & BG
+ 4 downsizings, totaling 2210 jobcuts reported in NYT & Boston Globe (BG)
• 2% workforce cut (1500 lost jobs) at American International insurance as it engulfs
American General, instead of just trimming 2% off its workweek (10 mins/day for whole
firm including top executives), re-investing overtime pay in overtime-targeted training, &
keeping everyone together, employed, earning & buying 98% as much insurance as usual
• 300 cuts at Hercules  • 300 at Zefer  • 110 at Cheap Tickets
vs. glimmers of˙hope:
• 1 UPsizing, 180 new jobs: Cheap Tickets opens new call center in Tampa
glimmers of TIMEsizing: so many firms cut hrs, not jobs, that Labor Dept.'s Q2 hrs fgr down 2.6%

9/05/2001 wed
12 takeovers totaling $21.14B reported in NY Times (NYT) & BG
+ 4 downsizings, totaling 19,015 jobcuts reported in NYT & Boston Globe (BG)
• 10% workforce cut (15,000 lost jobs) at Hewlett-Packard after it engulfs Compaq,
instead of just trimming 10% off its workweek (48 mins/day for whole firm including
top executives), re-investing overtime pay in overtime-targeted training, & keeping
everyone together, employed, earning & buying 90% as many PCs as usual
• 2000 cuts at Marconi  • 1800 at British Airways  • 215 at Mead
vs. glimmers of hope: • 2 UNtakeovers: - Goodrich spins off its asbestos liability
- UK's snobby Asprey & Garrard splits into Asprey (general) & Garrard (jewelry)
glimmers of TIMEsizing: reader slams America's ever-expanding working hours

9/04/2001 tue
- slow news day in insular U.S. media after U.S. holiday -
no downsizings reported in NYT & Boston Globe (BG)
but 3 downsizing-inducing takeovers totaling $6.51B reported in NY Times (NYT) & BG
+ symptoms: • Tokyo stocks close at 17-year low  • slump hits NYC eateries & • hotels
• US taxcut no help  • coup de grâce?- US germ warfare research pushes treaty limits
vs. glimmers of TIMEsizing:
• Brockton nurses end strike - receive concessions on mandatory overtime (but...)
• 3rd & best reverie on US overwork - burn 'em out, then toss 'em out with the trash
• 4th reverie - Guardian, British newspaper, 'US should learn from Irish' (& French!)

9/02-03/2001
weekend roundup per the NY Times and the Boston Globe:
• 25 takeovers reported this week, worth over $21.51 billion
• 31 downsizings reported this week, costing over 63,540 lost jobs
• 2 bankruptcies   • 2 homelessness items, &...   • 2 prison stories

vs. 8 TIMEsizing stories + 1 UPsizing (10 new jobs) + 1 UNtakeover ($??)
< YTD: 909 dnsz (1108544 jbcts) +1076 takv($617B) +149 bkrp vs.216 timsiz +93 upsz(46775+=4%) +42 untk($103B+)>
1 weekend takeover report, worth 64.5m
+ 1 weekend downsizing report, with unspecified jobcuts
• Cal.'s NetObjects software ends downward spiral in shutdown
+ 1 weekend bankruptcy report: • Flooz.com, with $13.6m debt
vs. weekend glimmers of timesizing
:
• Va. columnist reminds us that more time off & higher pay won't come by themselves

9/01/2001 sat (re fri biz)
5 takeovers reported in NY Times (NYT) & BG, totaling $6.86B + $??
+ 6 downsizings, totaling 15,696 jobcuts reported in NYT & Boston Globe (BG):
• 4% workforce cut (14,700 lost jobs) at Hitachi, Japan's largest private employer,
instead of just trimming 4% off its workweek (19 mins/day for whole firm including top
executives), re-investing overtime pay in overtime-targeted training, & keeping everyone
together, employed, earning & making 96% as many purchases as usual
• 550 NH cuts at Prime Tanning  • 265 Pa. cuts at Westvaco  • 80 cuts at PSC scanners 
• 77 at PolyOne in Chicago, Tenn., & Ont.  • 24 at Stamps.com
vs. glimmers of hope?:
• Greenspan at least starts exploring the effect of wealth on spending - but misses marginal efficiency
glimmers of TIMEsizing : - while ordinary Americans work harder & harder for less & less,
the economy with the shortest workweek has the highest productivity - la belle France
- France on 35 hrs/wk still outperforms most of Europe tho' joblessness back up to 8.9%
- Sabena Belgian airline pilots strike to trim hours for all rather than cut 1600 jobs
- Finland had some interesting 30-hour workweek experiments 1996-98


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before Apr.30/99.


For more details, see our laypersons' guide Timesizing, Not Downsizing, which is available online from *Amazon.com and at bookstores in Harvard and Porter Squares, Cambridge, Mass.

Questions, comments, feedback? Phone 617-623-8080 (Boston) or email us.


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