Timesizing® Associates - Homepage

hopes/dooms du jour,
Feb-Jan 2009

[Commentary] ©2004-09 Phil Hyde, The Timesizing Wire, Box 117, Harvard Sq, Cambridge MA 02238 USA (617) 623-8080 - HOMEPAGE

1/27/2009 tuesday

DOWNTURN-HERALDING/ACCELERATING MERGERS in the news (archives) - mgmt's suicidal merger skill will eventually have to be replaced by shorter-shift coordination -
  • Pfizer to pay $68B for Wyeth,
    by Matthew Karnitschnig, 1/26 Wall St Journal, page B1.

    ECONOMY-DESTROYING DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -
  • Recession batters law firms, triggering layoffs, closings,
    by Nathan Koppel, 1/26 Wall St Journal, page A1.
    ...This month, Clifford Chance laid off more than 70 lawyers in London; Cooley Godward Kronish LLP fired 50 lawyers and 60 other staffers; and Akin Gump Strauss Hauer & Feld LLP let go of 65 staff members across the US..\.. US law firms...have long seen themselves as partially insulated from economic downturns..\..
    [Closings -] Heller Ehrman LLP, San Francisco, late Sept... Thelen LLP, San Francisco, Dec... Thacher Proffitt & Wood LLP, New York, Dec... Dreier LLP, New York...

    ERODING RETIREMENT (archives) in the news - no problem with full-time shorter-hours employment via timesizing -
  • From here to retirement, editorial, 1/26 NYT, A20.
    If you have a 401(k) retirement plan at work, you don't need us to tell you that you've taken a hit in the past year. The really bad news is that the damage to your retirement security is likely worse than what the numbers say on your statement....
    [The institution of retirement wastes the most experienced among us and poses a blank check on society. Nature has no blank checks, and disemployed retirement contradicts the deepest longing of humanity for longer and longer lives. The institution will gradually be phased out by better medicine and spare-parts technology, and by guaranteed full employment (at lower workweek levels) regardless of population growth thanks to robotization and timesizing.]

    MORE MAKEWORK in the news (archives) - too little too late, & unnecessary with full employment via timesizing -
  • The moment for national service, editorial, 1/26 NYT, A20.
    [Learning nothing from the Great Depression, we now go thru another orgy of "good ideas" for makework projects, the kind of artificial job creation that FDR despaired of after two years of tryouts 1933-35, concluding, "I should have got behind the Thirty Hour Work Week Bill and pushed it through Congress when I had the chance" - it had passed the US Senate by 53 to 30 on April 6, 1933. Sharework is better than makework. Natural private-sector employment sharing and spreading works. Artificial public-sector job creation is always too little too late except if a world war comes along to create a perceived labor shortage and centrifuge the national income and wealth with rising wages - getting the money out to the many ordinary people who actually want and need to spend it instead of to the proportionately few wealthy people who are just looking to store it in investments. But world wars today are too dangerous, and nation-level wars just don't kill enough Americans to create the prosperity-spurring labor shortage.]
  • Technology gets a piece of stimulus, by Steve Lohr, 1/26 NYT, B1.
    The time-tested [but lame without war] way for governments to create jobs in a hurry [nope, always too little too late apart from war] is to pour money into old-fashioned public works projects like roads and bridges. [But] the $825 billion stimulus plan presented this month by House Democrats called for...$20B to computerize medical records, $11B to create smarter electrical grids and $6B to expand high-speed internet access in rural and underserved communities.... Could produce more than 900,000 jobs [peanuts!] in the first year....
    [Thus learning nothing from the German hyper-inflation of the early 1920s.]

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • Lending drops at big US banks - Top beneficiaries of federal cash saw outstanding loans decline 1.4% last quarter, by David Enrich, 1/26 WSJ, A1.
    [That transfer of $350B from ordinary taxpayers to wealthy bankers was therefore the most expensive, most self-destructive failure in history.]
  • US Bank & Trust? - Debate on how far to go in takeovers, by David Sanger, NYT, A1.
    [What's to debate? Taxpayers paid for the banks, taxpayers OWN them and can sell them back to the wealthy few in the private sector as Paul Krugman (1/19) recommends, or are we here too to donate money to bank shareholders and thus be robbed again to pay the rich and further weaken the consumer base?!?]
  • Bankruptcy fears grip auto-parts suppliers, by Stoll & McCracken, 1/26 WSJ, A1.
  • At Davos, economic crisis culls the guest list, by Nelson Schwartz, 1/26 NYT, B1.
    ...This year, politicians, not corporate titans, are poised to be the big draw [at Davos], echoing the broader power shift away from the free market as one government after another tries to prop up its sinking economy....
    [With corporate titans shaking down taxpayers for billions, it's not at all clear there's been a power shift. And is "propping" supposed to give us confidence?]

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times a day in every downturn despite *dismissal by the 'experts' -
  • Maine lawmakers consider shorter school week, NECN - Newton,MA,USA
    ...The bill, if passed, would allow Maine schools to adjust the number of school days and hours of instruction from the mandatory 175 days students are are required to put in now...

    OTHER GOOD STUFF in the news (archives) -
  • Obama's order likely to tighten auto standards - Signaling policy shift - Calif. leads effort to cut emissions and raise efficiency, by Broder & Baker, 1/26 NYT, A1.
    [About time!]
  • Brothels ask to be taxed...- An effort to pay a fair share, or to extend the reach of legal prostitution?, by Steve Friess, 1/26 NYT, A11.
    [It will take several generations for us to learn from Prohibition not to criminalize drugs, or biodrugs (sex). In the age of global overpopulation, we do not have to subsidize or protect human reproduction, so sex follows religion into the category of personal and private hobby, period.]

    1/26/2009 monday

    ECONOMY-DESTROYING DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • Cities, towns across Massachusetts expect to fire thousands - Basic services in jeopardy,
    by Eric Moskowitz, 1/25 Boston Globe, page A1.

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • The ailing economy is making people sicker - Doctors see rise in stress, drop in healthy habits,
    by Stephen Smith, 1/25 Boston Globe, page A1.
  • The other global warming - Even if we contain the greenhouse effect, says a Tufts U. astrophysicist, we'll have another heat problem on our hands (wasted heat energy),
    by Bina Venkataraman, 1/25 Boston Globe, C1.

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times a day in every downturn despite *dismissal by the 'experts' -
  • Hospital doctors coping with 48-hour week,
    by Cherry Thomas, The Bolton News - Bolton,Greater Manchester,UK
    ...The European Working Time Directive, which becomes law in August, will set a maximum working hours week of 48 hours, reduced from 58...
    [If Obama really wants a quick fix for our economic crisis, he should just copy the European Working Time Directive which is gradually getting everybody down to the standard 40-hour workweek, still widely unenforced.]

    1/25/2009 sunday

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -

  • Dow's fall: 3 weeks running, by Peter McKay, 1/24 Wall St Journal, page B1.
  • Costs and tighter rules thwart refinancings, by Tara Bernard, 1/24 NY Times, p. B1.
    [Thus many quick fixes make things worse.]
  • G.E. says profit fell 43% and warns of tough year ahead, pointer header, 1/24 NYT, B1>B3.
  • Doing the right thing by paying the nanny tax, 1/24 NYT, B1.
    ...Various estimates put the tax cheat rate at 80 to 95% of people who employ babysitters, housekeepers & home health aides...
    [If you can afford a nanny, you can afford her social security tax.]
  • Bear market for charities, by Mike Spector, 1/24 WSJ, B1.
    [or maybe this is good news, cuz any system that relies on capricious charity for vital functions (like centrifuging the national income & wealth to those who actually spend it) is lethally flawed.]
  • [And speaking of charity...]
    Firms that got bailout money keep lobbying, by Kirkpatrick & Savage, 1/24 NYT, A1.
    The financial giant Bank of America says...after receiving $45 billion in bailout money, lobbying [for more] was just too unseemly. [But] Citigroup, recipient of another $45 billion, made the opposite call....
    [So American taxpayers are at the mercy of CEOs' decisions about "seemliness"? Truly the USA has become a "house built on sand" - quicksand that's getting quicker & quicker, more & more quickly. And as Someone said 2000 years ago, "A house built on sand cannot stand."]
  • Euro, once a boon, becomes a burden to poorer countries, by Landon Thomas Jr, 1/24 NYT A1.
    [Premature currency unification, like premature tariff dismantling (aka globalization/'free trade') requires giving up vital control and fine tuning. Without control, we're all in an uncontrolled race to the bottom, just what we used to criticize Communism for in terms of "getting reduced to the lowest common denominator."]
  • How Israel helped to spawn Hamas - Israel's decades-long dealings with Palestinian Islamists reveal a catalog of unintended and often perilous consequences, by Andrew Higgins, 1/24 WSJ, W1.
    ...Retired Israeli official Avner Cohen...the former religious affairs official in Gaza...recalls a 1970s meeting with a traditional Islamic cleric who wanted Israel to stop cooperating with the Muslim Brotherhood followers of Sheikh Yassin [so they'd pose an alternative to the PLO]: "He told me: 'You are going to have big regrets in 20 or 30 years.' He was right."

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times a day in every downturn despite the "experts"' self-damaging *smear campaign -
  • Obama pressing for a quick jolt to the economy, by Calmes & Herszenhorn, 1/24 N.Y.Times, page A1.
    [The quickest sustainable jolt would be to enforce the existing 40-hour workweek on everyone, waged OR SALARIED, by transforming overtime into jobs (and training if there are too few qualified candidates) with a 100% tax on corporate overtime profits with a 100% exemption for reinvestment in (training&)hiring.]
  • Another labor dispute erupts in Cebu over shorter workweek, 1/24 GMA news.tv - Quezon City,Metro Manila,Philippines
    ...Workers can accept the cut in working days if there is no cut in wages. "Such a scheme simply means that management shares with its workers the increased profit resulting from the increased productivity of labor due to use of improved machines"...
    [That's the way it was promised at the beginning of the Industrial Revolution, and that's the way it was delivered, until management, despite their lip service to growth, started bashing growth by downsizing their best customers, their own employees - instead of merely downsizing the workweek and giving their employees more time to rest up for the job and more time to go shopping with their earnings.]

    1/24/2009 saturday

    ECONOMY-DESTROYING DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • Microsoft slashes jobs as sales fall, by Ashlee Vance, 1/23 NY Times, page B1.
    ...up to 5,000 employees, or about 5% of its workforce - the first significant cuts in the company's 34-year history....
  • Sony plans deeper cutbacks... - First annual loss in 14 years, 1/23 Wall St Journal, B1.
  • New York State's jobless rate soars - 7% last month, rising at fastest pace on record, pointer header, 1/23 NYT, A1>A20
  • Bay State's unemployment rate continues climb, at 6.9% (Massachusetts), 1/23-25 Boston Metro, 04.

    MORE MAKEWORK in the news (archives) - too little too late, & unnecessary with full employment via timesizing -
  • Computers face new plague, Dunadup or Conficker, pointer header, 1/23 NYT, A1>A12.
    [The job desperation and inadequate common interest rolls on right in the midst of the inner sanctum of high tech: virus writers and checkers, worm writers and checkers, spam writers and blockers, adware writers and blockers, spyware writers and extractors....]

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • Banks die too fast for regulators, by Damian Paletta, 1/23 WSJ, C1.
    [God, there's something so refreshing now that the wealthy cheerleaders have lost the ability to continue the relentless happytalk of the last disastrous 8 years (and the darkening 30 years before that!)]
  • Capitol One posts loss as bad loans augur gloom, 1/23 WSJ, C1.
  • Smaller banks' losses expected to bring mergers, by Eric Dash, 1/23 NYTimes, page B1.
    [which in turn will bring more downsizing which in turn will bring weaker markets which in turn will bring more losses which in turn will bring more mergers....]
  • Recessions in the US and Europe aggravate the slowdown in Asia, pointer header, 1/23 NYT, B1>B4.
    [Well of course, we're their market - they've been parasitizing our workforce-consumerbase for so many years - now they're surprised that we're not infinite?]

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times a day in every downturn despite the "experts"' self-damaging *smear campaign -
  • Germany's ThyssenKrupp to scale back production, 1/23 euronews24.org
    Schulz said Bochum-based ThyssenKrupp was considering overtime cutbacks and shorter working hours among other measures to help it adjust production to flagging demand...
  • Visteon goes back to full work week, caps salaries at $75K, 1/23 DetNews.com - Detroit,MI,USA
    [Timesizing can also mean workweek increases if the problem goes away or, as here, the solution is moved elsewhere (here, to paycuts for the highest paid).]

    OTHER GOOD STUFF in the news (archives) -
  • Wall Street paychecks may wither, by Floyd Norris, 1/23 NYT, B1.
    [We would hope so! They're the ones who caused this crisis.]
  • Sweden's fix for banks: nationalize, by Carter Dougherty, 1/23 NYT, B1.
  • Obama realigns US terror stance, 1/23-25 Boston Metro, 01.
    "I can say without exception or equivocation that the United States will not torture." Pres. Obama.
    [Phew! - At last, we can begin to lose the shame, disgrace, embarrassment, guilt and hypocrisy of the last 8 years with the despicable Bush regime.]
  • What Pres. Obama's orders will do: 1/23-25 Boston Metro, 05.
    Shut down...Guantanamo...within one year.
    Prohibit CIA from using coercive interrogation...already banned by Pentagon.
    Shutter secret CIA 'black site' prisons abroad....
    End..."extraordinary renditions"....
    Scrap every legal opinion or memo issued during [Bush regime] that justify [eg] waterboarding...black sites...extraordinary renditions.

    1/23/2009 friday
    ECONOMY-DESTROYING DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • The ripple effect of layoffs - Company layoffs keep piling up. With so many people out of work, it can have a huge ripple effect. Sadie Babits has the story of one man who is dealing with the effects of unemployment in Portland, Ore.
    by Sadie Babits, 1/22 American Public Media [Radio] via marketplace.publicradio.org.
    - see whole segment under today's date.

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • Jobs vanish as exports fall in Asia, by Keith Bradsher, 1/22 NY Times, page B1.

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times a day in every downturn despite the "experts"' self-damaging *smear campaign -
  • Get 'family-friendly,' or recession will last longer - Employers, government must repair work-life balance, major study concludes, by Kathryn May, 1/22 Ottawa Citizen, A5.
  • Governors seek concessions from public workers, 1/22 AP via Forbes.com
    Ted Strickland has asked unionized state employees to consider shortening their work week to 35 hours, taking a 5% pay cut...
    [Hmm, a 12.5% hourscut and only a 5% paycut - wouldn't that be a 7.5% wage raise - not bad!]

    OTHER GOOD STUFF in the news (archives) -
  • Obama freezes top salaries, 1/22 WSJ, A1.

    1/22/2009 thursday

    ECONOMY-DESTROYING DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • Soaring lay-offs push jobless near to 2m, 1/21 ThisisMoney.com.
    [UK -] A record number of people are being made redundant and job vacancies are falling as unemployment hurtles towards two million, official figures showed today. The jobless total increased by 131,000 in the three months to November to 1.92m, the highest figure for over a decade.
    The UK now has an unemployment rate of 6.1% and the two million barrier is sure to be breached next month following a spate of job cuts since the start of the year. The rate, which was one of the lowest in Europe in recent years, is now higher than that of Slovenia, Romania, Malta, Holland, the Czech Republic, Bulgaria, Austria or Cyprus.
    Employment minister Tony McNulty insisted there was still work to be found and that thousands of people were also coming off the dole. 'The Government is doing all it can to ensure economic stability for businesses, homeowners and jobseekers. Our message to job seekers is clear - we won't give up on you but you mustn't give up on looking for work,' he said.
    But the Tories blamed the figures on the Prime Minister and once again accused ministers of being removed from reality. Shadow work [huh??] and pensions secretary Theresa May said: 'Gordon Brown's complete failure to prepare Britain for recession means that the UK now faces the highest rise in unemployment in any G7 country. Labour's astonishing claim this morning that there is light at the end of the tunnel shows how out of touch they are.'
    The number of people claiming jobseeker's allowance [great name!] increased last month by 77,900 to 1.16m, the worst figure since 2000. The monthly benefit claimant increase was the second highest since 1991, and the claimant count has now increased for 11 months in a row, according to the Office for National Statistics.
    Today's data also showed that 225,000 people became redundant in the quarter to November, up by 78,000 on the previous three months and the highest figure since comparable records began in 1995.
    Yesterday Burberry, the upmarket clothing company, joined the army of firms making cuts. Up to 290 jobs will go with the closure of its sewing factory in Rotherham. A further 250 redundancies will be made in Spain. The company, best known for its trenchcoats, hopes the two moves will help it save up to £35m.
    A food firm, the Dutch-owned Vion, is also planning to cut around 820 jobs which will hit its sites at Haverhill in Suffolk, Malton in North Yorkshire and Cambuslang near Glasgow.
    Go Outdoors, an outdoor retailer, said yesterday it plans to create 1,000 jobs by 2011.
    PRISONS in the news (archives) -
  • Official seeks transfer of thousands of sick inmates, 1/21 WSJ, A5.
    [California -] ...up to 7000 ailing prison inmates...to facilities with access to better medical care.... Federal court ruled quality of healthcare in California's 33 adult prisons unconstitutional and placed receiver Clark Kelso in charge of finding solutions..\.. Kelso has become frustrated as Gov. Schwarzenegger and lawmakers have so far balked at providing the $8 billion Kelso seeks to build new medical facilities as state faces a budget crisis....
    [Or rather, a crisis of suicidal investment priorities by the state's wealthy.]

    SUICIDE in the news (archives) -
  • Irish tycoon is found dead, by Bryan-Low & Mollenkamp, 1/21 Wall St Journal, page A13.
    ... Patrick Rocca, 42 years old...was involved in [real estate] through his company Accorp Properties Ltd.... A gun was found near his body....
    [So file this under 'housing bubble burst'?]

    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • Chrysler-Fiat deal needs US loans - Italian firm says US must give Chrysler $3 billion more to seal pact; demand 'troubling' senator says, by Stall & Meichtry, 1/21 WSJ, B1.
    ['Needs' US loans??? 'Must give' Chrysler??? What suicidal nerve! As long as the wealthy 'need' help & 'must' get charity from the gov't = taxpayers = the not-so-wealthy, we're still cannibalizing our consumer base & goin' down down down - for example...]
  • Bank crisis deepens - No quick fix likely from Obama team, by Edmund Andrews, 1/21 NY Times, page B1.
  • Stocks fall victim to new bank concerns - State Street Bank, seen as almost immune, tumbles 59%, fueling a broad pullback - Dow's drop of 332.13 is worst for inauguration, 1/21 Wall St Journal, C1.
  • Banks hit by nationalization fears - Financials plunge as US considers new rescue options - UK crisis grows, currency tumbles; EU worries spread, 1/21 WSJ, A1.
    [Ah, why aren't these morons fearing continued privatization??? - it ain't the government that triggered this plunge! Self-styled 'conservatives,' incapable of seeing the obvious, seem to be missing a chip on their motherboard. Indeed, 'conservatives' scored lower than liberals in an experiment by researchers from NYU and UCLA reported in NYT that tested the ability to tolerate ambiguity and complexity and refrain from knee-jerk reactions. See 'Liberals and Conservatives live on different planets,' winter 2008-2009 JUSTnews, p.4, citing anonymous letter to 'Good Morning Silicon Valley' e-news.]
  • Struggle to maintain capital adds to pressure on home-loan banks, by James Hagerty, 1/21 WSJ, A6.
  • Builders predict more housing pain, by Jim Carlton, 1/21 WSJ, A6.
  • Canada cuts interest rates to new low, by Nirmala Menon, 1/21 WSJ, A13.
  • Pound hits a 7.5 year low on the dollar - Investors sell sterling on renewed fears about UK banks; yen strengthens, by Riva Froymovich, 1/21 WSJ, C14.
    In UK, currency tumbles on fear that bailout will fall short, 1/21 WSJ, A14.
  • Saudi Arabia's Kingdom Holding Co. reports big loss - Prince Alwaleed, seen as major mideast backer of Citigroup, cites $7.92 billion '08 hit, as business confidence drops in Gulf, by Cummins & Coker, 1/21 WSJ, A11.
  • China, naming threats (Tibetan & Xinjiang separatists) seeks stronger military, by Shai Oster, 1/21 WSJ, A12.

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite some economists' *smear attempts -
  • [Obama mentions timesizing instead of downsizing in inaugural speech -]
    'To reaffirm our enduring spirit', by Pres. Barack Obama, 1/21 WSJ, R4.
    ...It is...the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours....
    [There are five obstacles if Obama is serious about pursuing the only intelligent & sustainable way out of this economic crisis, namely timesizing: (1) It's the time dimension - makes us uneasy unless stays it stays in the background. (2) It's upstream of our income - requires we challenge our cushioned decision-makers & 'experts.' (3) It's contrary to our work ethic - "work hard to get ahead" - "keep busy" - "if you want it done right away, ask a busy person" - all must be revised in favor of "work smart - creative - flexible." (4) "The devil finds work for idle hands to do" - no, the leisure industry does. (5) Cutting workhours may activate a sense of guilt, but it gives everyone more time and more money to think ahead and work on the myriad crises facing us in the ecological age.]
  • BMW to cut production of its 3, 7 Series in Germany, 1/21 Indian Autos Blog.
    ...BMW said that “26000 workers at its Dingolfing, Regensburg, Landshut and Berlin will work shorter hours in February and March.” “The highly qualified employees we are able to retain today will give us a decisive competitive edge in the future,” BMW said in its press release.

    OTHER GOOD STUFF in the news (archives) -
  • IBM bucks tech slump, issues rosy 2009 outlook, by William Bulkeley, 1/21 WSJ, B1.
  • Russian gas finally reaches Europe, ending dispute that left many cold, by Jacob Gronholt-Pedersen, 1/21 WSJ, A13.
    [LOL, SUCH a laughing matter - not.]

    1/21/2009 wednesday
    economy-destroying DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • Layoff fears fuel eavesdropping, pointer headline, 1/20 Wall St Journal, B1>B7.
  • China jobless toll is the worst in 30 years, 1/20 [London] Evening Standard via thisismoney.co.uk.
    China, until recently seen as the best hope of keeping the global economy on a growth curve, is reeling under rapidly rising unemployment, which is at its highest in 30 years. The official urban unemployment rate has risen for the first time since 2003 as exports slump and a slowdown accelerates in the world's third-biggest economy [after US and Japan]. Joblessness rose to 4.2% in the December, up from 4% in the previous quarter, said Yin Chengji of the Human Resources and Social Security ministry.
    [But with over 200,000,000 actually unemployed, a nationwide real figure would be more like 20%.]
    Beijing is preparing for unemployment to hit 4.6% this year, the worst since 1980. Premier Wen Jiabao said yesterday that the government must do more to preserve social stability in the face of a 'very grim' jobs outlook.
    'Growth has fallen off a cliff in China in recent months,' said Paul Cavey, chief China economist at Macquarie Securities in Hong Kong. 'It does already feel like a recession for a lot of people.' China's economic growth may have cooled to 6.8% last quarter, the slowest in seven years, economists say. The official figure is due this week.
    MAKEWORK in the news (archives) - always too little too late, & unnecessary with full employment via timesizing -
  • More Americans joining military as jobs dwindle, by Lizette Alvarez, 1/19 New York Times, page A1
    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • European stocks fall on US holiday (Martin Luther King Day Monday), by Turner & Oliver & Mathieson, 1/20 WSJ, C1.
  • Facing credit crisis, Obama team revives Bad Bank strategy, by McKenna & Milner, 1/20 Toronto Globe, B1.
    ...create gov't aggregators that buy up bad loans.... worth trying because nothing else has worked. And it will not be any more costly to taxpayers than the so far unsuccessful strategy of injecting capital directly into major banks....
    Rule change would allow Ottawa to buy bank stock, by Tara Perkins, 1/20 Toronto Globe, B1 right underneath.
    ...would allow the gov't to inject capital into banks....
    [and do exactly what the US has so far found unsuccessful according to the article directly above - PM Harper must have a bad case of the 'stupids']
  • Wall Street voodoo - What should we do with zombie banks?, by Paul Krugman, 1/19 New York Times, A23.
    ...Fed officials and bank regulators want to make huge gifts to bank shareholders at taxpayer expense, disguised as "fair value" purchases of toxic assets.... Taxpayers are about to get another raw deal - and another financial rescue plan that fails to do the job.
  • Banks foreclose on builders - Even perfect payments are no protection for home developers, by John Rudolf, 1/20 NYT, B1.
  • Flush times for liquidators - 'Historic' glut of unsold goods, by Saranow & Smith, 1/20 Wall St Journal, B1.
  • UK boosts its bailout as bank losses rise, by Mollenkamp & Munoz & MacDonald, 1/20 WSJ, A1.

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Volkswagen puts German workers on shorter hours, 1/20 Mlive.com,
    ...will put about 60,000 workers in Germany on shorter hours for five days next week...
    OTHER GOOD STUFF in the news (archives) -
  • Obama to call for a new era of responsibility - Huge crowds gather as first African-American president takes office, by Mekler & Weisman, 1/20 WSJ, A1.
    [Sounds nice but more responsibility ain't gonna happen unless a lot more Americans have a lot more time available to play the watchdog - so without getting worksharing and trimming "full time" into the national debate, the best Obama can do is slow America's downspiral - there is no hope of reversing it.]

    1/18/2009 sunday
    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -

  • Bank of America, Citigroup post losses in billions, 1/17 Ottawa Citizen, page G1.
  • In search of one bold stroke to save the banks, 1/17 NY Times, A1.
    US plots new phase in banking bailout, 1/17 Wall St Journal, A1.
    [All in vain - unless banks make good loans, which is impossible unless there's more consumer spending, which is impossible unless there are more good jobs, which is impossible unless we convert overtime into jobs&training and possibly cut the workweek to make more overtime to convert into jobs.]
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Freeze or cut wages, 1/17 Straits Times - Singapore
    Council member Heng Chee How from NTUC said more than 18000 workers from unionised companies have been put on a shorter work week since November...

    1/17/2009 saturday
    economy-destroying DOWNSIZING in the news (archives) - all quickly reversible by substituting timesizing -

  • Hertz Rental Car Plans to Cut 4000 Jobs, Bloomberg via New York Times
    The rental car company Hertz Global Holdings will cut more than 4000 jobs to reduce costs as businesses and consumers slow travel because of the global recession...
  • ConocoPhillips to Eliminate 1300 Jobs, Reuters via New York Times
    The oil company ConocoPhillips, citing a steep decline in oil and gas prices, said it would cut 4 percent of its work force, or about 1300 jobs...
  • AMD To Reduce Work Force 9 Percent and Cut Pay, AP via New York Times
    Advanced Micro Devices, the chip maker, plans to cut 1100 jobs, or 9 percent of its global staff, and reduce employees’ pay...
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Johnson Controls posts loss, shares fall, 1/16 Reuters
    ...In addition, it is freezing new hiring and salaries, eliminating annual bonuses for executives and considering four-day work week schedules, mostly in the automotive business...
  • General Motors Shortens Work Week In Hungary Over Econ Crisis, CNNMoney.com
    ...Under the decision, made in agreement with the trade unions, the 640 employees and 39 contract workers at the plant will receive half their wages on the forced days off...

    1/16/2009 friday
    DOWNSIZING in the news (archives) - tho not a problem with full employment via timesizing -

  • In rare move, Microsoft is exploring job cuts, 1/15 Wall St Journal, page B1.
    [finally the bandleader of high tech joins the lemmings in making it a curse, not a blessing]
    tsunami of BANKRUPTCIES (archives) in the news - stanched only by risky war or safe timesizing -
  • Nortel Networks files for Chapter 11, 1/15 WSJ, B1.
    Dark day for telecom giant, 1/15 National Post, A1.
    The effects on employees and shareholders, 1/15 National Post, FP1.
    Few analysts called it right on this one, 1/15 National Post, FP1.
  • Oil firm seeks protection - BA Energy Inc. of Calgary, 1/15 National Post, FP1.
  • Bankruptcies start to pile up in Canada - Wave of autoparts failures coming, 1/15 National Post, FP1.
    SUICIDE in the news (archives) -
  • Die, he mumbled - Marcus Schrenker, missing financier arrested at his Florida campsite, his wrists cut, 1/15 National Post, A1.
    DEATH SPIRAL continues (archives) - reversed only by dumb war or smart timesizing -
  • Bank of America to get billions in US aid - Deal said to be reached on fresh bailout cash, 1/15 WSJ, A1.
  • Global banks booking billions more in writeoffs, losses - 'We bought time with the first round of money - that's all we did,' Christopher Whalen, Institutional Risk Analytics, 1/15 Toronto Globe, B1.
    [Useless time - or even destructive, allowing the situation to get even worse - because they're still not even discussing timesizing in the halls of power.]
  • Folks are flocking to the library, a cosy place to look for a job - Books, computers & wifi are free, but staffs are stressed by crowds, cutbacks, 1/15 WSJ, A1.
  • Argentina's president urges consumers to open their wallets and spend - Seen as job saver, 1/15 National Post FP7.
    [like many people insulated by their wealth, Pres. Cristina Kirchner is clueless and backwards - she doesn't get the concept of empty wallet or the fact that jobs save consumers, consumers don't save jobs]
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Toyota cuts North American production as sales slump, 1/15 Bloomberg.com
    ...Nissan Motor Co. announced yesterday that its US auto-assembly plants will stay on a 4-day workweek indefinitely...
    [The Future lies in cutting the workweek, not the workforce and the consumer markets.]

    1/15/2009 thursday
    SPIRALLING DOWNWARD (archives) - reversed only by dumb war or smart timesizing -

  • Deeper hole for bankers - A worsening need for bailout money, by Edmund Andrews, 1/14 NYT, A1.
    - for what? lending? but they aren't lending it...
    With its own ills, Independent Bank of Michigan lends only a trickle of bailout funds, by Lipton & Nixon, NYT, A1.
    ...received $72 million of the $700 billion...& immediately transferred it to the Fed to pay down short-term loans.... In essence, it's been stuffed into the Fed's own mattress....
    [so "trickle" = zero]
  • Global trade posts sharp decline, 1/14 WSJ, A1.
    [there it is, the GLOBAL economy has now concentrated so much of its income and wealth in the top hundredth percentile (0.01%) that there isn't enough left for the billions of consumers in the rest of the globe to purchase their own output without work&wage redistribution via labor-surplus reduction via workweek cuts]
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Zep stops 401(k) match, chairman gets pay cut, Atlanta Journal Constitution.
    In an interview, he estimated that reducing the work week for 300 to 400 people in warehousing, customer service and manufacturing would save the jobs of 40 to 60 workers...

    1/14/2009 wednesday
    MORE BAD NEWS (archives) - reversed only by dumb war or smart timesizing -

  • US seeks more bailout cash - Call to deploy remaining $350 billion comes as Citi, rivals face steep losses, by Solomon & Paletta, 1/13 WSJ, A1.
    Geo.W.Bush requested the second half of the $700B financial-rescue fund on behalf of Pres.-elect Obama...as US banks are set to report their worst quarterly results in years....
    [= more billions redistributed from middle & low-income taxpayers to the top tiny fraction of the population? = the worst kind of stifling, suicidal, enterprise-bashing socialism-for-the-rich]
  • Then and now...Bush's final news conference, (photo caption) 1/13 WSJ, A1.
    ...Bush...wrapped it up Monday by defending his 'good, strong' record...
    [still clueless after all these years - "the most cushioned among us have the most decision-making power" = a huge system with zero feedback or course correctability]
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Visteon forecasts lower product sales, 1/13 Wall Street Journal.
    For January, Visteon will adopt a four-day workweek for about 2000 of its employees, along with a commensurate 20% reduction in salaries....
    GENERAL GOOD STUFF in the news (archives) = po/relief from pure strategy -
  • surgeon shortage pushes hospitals to hire temps, 1/13 Wall St Journal, A1.
    translation: another nail in the coffin of the workaholic skill bottleneck created by the American Medical Assoc. to hype doctors' pay?

    1/13/2009 wednesday

  • 'Golden hellos' for firms to employ jobless, by Paul Waugh, 1/12 [London] Evening Standard via thisismoney.co.uk.
    [U.K. -] An emergency £500m scheme to get the jobless back into work was unveiled by Gordon Brown today as he warned that government action was 'the only way' to deal with the recession. Ahead of a jobs summit held at the Science Museum today, the Prime Minister warned that failure to use state aid to help employers and staff would condemn many more people to the dole queue.
    Mr Brown claimed the Tories had refused to act in the last downturn in the early Nineties and warned 'that will not happen on my watch'. In a centrepiece of the plan, firms will be given 'golden hellos' of up to £2,500 for every person they recruit from the ranks of the long-term unemployed. Those who are jobless for more than six months will be guaranteed more intensive and personalised support to find work as ministers scramble to prevent the surge in unemployment from becoming permanent.
    As well as cash help for firms taking on the jobless, there will be 75,000 training places for people out of work for six months and cash help for jobless people to set up businesses.
    The jobs summit was attended by 100 executives from Britain's biggest companies, unions and employer organisations. It came amid predictions that unemployment could reach well over 3m next year, and a CBI report that the City, which employs 1m people, will cut up to 15,000 jobs over the next 12 weeks.
    Mr Brown told GMTV today that the Government had tried to rescue Woolworths but had found it was a 'financially unviable business'. But he insisted there were still 200,000 jobs created every month and pointed to the supermarket Morrisons announcing 5,000 new jobs this week. He said that Iceland could even take over some Woolworths stores. [huh?]
    'When markets and the private sector fail and can't invest properly in the economy, then the only person that can help is us, the Government. There is no other way. You will find that when President Obama comes in in America, he will be doing things which are very, very similar,' he said.
    [Yeah, but you're both doing it the hard way = artificial work creation. Harness market forces with Timesizing.]
    Work and Pensions Secretary James Purnell admitted that jobless figures would continue to soar this year. 'Clearly we haven't reached the bottom and we are planning for unemployment rising,' he said. 'We will not write off a generation. Our message is simple, the longer you are out of work the harder we will work for you.'
    The sweeteners to employers will be tied to particular jobseekers [mistake! who decides which particulars? LET THE MARKET DECIDE via automatic overtime-to-jobs conversion]. A Jobcentre adviser would tell a company that if they took on an unemployed individual they could receive an incentive worth £1,000 plus and up to £2,500 if they trained them as well.
    The Government announced an extra £1.3bn in the pre-Budget report to help all unemployed people, including taking on 6,000 extra front office advisory staff in Jobcentres, and reversing the closure of some centres.
    But David Frost, director-general of the British Chambers of Commerce, warned that the latest government proposals would have only a limited impact. 'With unemployment rising fast and projected to rise by over a million, from what I am seeing companies are not recruiting so I am not sure at this stage in the economic cycle what the offer of a £2,500 grant to take on people is going to do,' he told the BBC Radio 4 Today programme. 'We have got to focus on retaining those skills within the business because once they've gone, they've gone.'
  • £2,500 to take a worker off the dole, by Benedict Brogan, 1/12 London Daily Mail via thisismoney.co.uk.
    Emergency funding: Firms will be paid £2,500 for each person recruited from the dole queue (photo caption)
    An emergency £500m plan to stem soaring unemployment will be unveiled today amid signs the economic crisis is intensifying. Ministers will announce a 'golden hello' scheme that will pay companies up to £2,500 for every person they recruit from the dole queue.
    [Any relation to the Japan's Hello Kitty?]
    The Government claimed most of the cash will be new spending at a time when figures suggest the housing crash has left a £15bn black hole in the public finances.
    A jobs summit convened by Gordon Brown today will kick off a week of intense activity as Downing Street tries to bolster confidence. The Treasury is putting the finishing touches to a series of landmark announcements to unblock the credit markets and get banks lending again.
    There is growing concern that last year's £37bn cash injection into the banks, coupled with a £250bn taxpayer-backed credit guarantee, is not enough to encourage banks to lend.
    Additional measures being prepared are believed to include a major extension of the loan guarantee scheme to cover all sizes of business, Government support to create new mortgage-based securities, and help for car companies - all coming as early as Thursday. But official sources said they would be set out in stages rather than in one big package.
    Another measure being prepared is the creation of a so-called 'bad bank' that would take on bad debts of the banks.
    Experts say property values have fallen more sharply than the Chancellor forecast in his November pre-budget report. As a result, the tax shortfall faced by Alistair Darling is not £7bn as he forecast, but £15bn, raising the prospect of more borrowing.
    Meanwhile, there are fears one in ten workers could be jobless by next year. Work and Pensions Secretary James Purnell will today announce up to £2,500 paid to firms for every recruit taken on from long-term dole queues.
    The Government will also pay for an £83m programme to provide 75,000 training places on top of the 40,000 announced before Christmas.
    Mr Brown will tell the summit: 'We know that any action we take has costs. But the biggest cost of all would be the cost of doing nothing. Failure to act now, and to do so in co- ordination with our international partners, would mean a deeper and longer recession.'
    David Cameron described Britain's spiralling debt as a 'tragedy'. He said: 'VAT cut - foolish. It hasn't worked. Long term, also foolish, because it will add to the national debt.'...
    [Sure it has. As Milton Friedman said, You get LESS of whatever you tax. So if you want more sales and money-supply circulation and not less, cancel all sales and value-added taxes and just tax the people who have way way way more than they can spend or now even INVEST sustainably = the topmost wealthy. Remember wartime prosperity? Resume wartime levels of steeply graduated income and estate taxes. Soak the people who have soaked everyone else and starved their own economic foundations in the employment and consumer bases, AND ARE STILL DOING IT.]

    1/11/2009 sunday
    DOWNSIZING in the news (archives) - tho not a problem with full employment via timesizing -

  • The vise tightens on the economy
    1/10 Ottawa-Gatineau Droit, page A1
    ...worst unemployment rate since 1945 in the United States...2.6 million jobs lost...
  • America is braced for jobs carnage
    Sam Fleming, 1/10 Daily Mail via thisismoney.co.uk
    The US could see close to a million job losses a month during the first half of this year, it was claimed in the wake of a disturbing employment figures. Americans lost more jobs in 2008 than any year since 1945, with bosses firing 524,000 people in December alone, a report showed yesterday. The carnage will only accelerate as the downturn gathers momentum, warned experts including Rob Carnell of ING.
    The bleak outlook will increase the pressure on Congress to rush through Barack Obama's £510bn recovery program in an effort to create 3m jobs. Paul Krugman, a Nobel-prize winning economist, warned this week that unless America embarks on a massive public spending programme we could face the 'Second Great Depression'.
    [Too late. It's already here, and it's even 'greater.' And it's not a matter of money, It's a matter of time. We need to balance the distribution of worktime per person. Easiest, most flexible and gradual and natural, market-oriented approach? Timesizing.]
    The US lost 2.6m jobs in 2008, pushing the unemployment rate to a 15-year high of 7.2% in December.
    Carnell said: 'Obama is saying that he will create 3m jobs, but that won't begin to have any effect until we are well into the second quarter of this year. 'And in the meantime, we are likely to see almost a million jobs a month go, so at best his measures will only make up for the losses since the start of this year.'
    While America's economy is now in freefall, Britain may fare even worse in 2009. Figures from the respected National Institute of Economic and Social Research today show that UK output fell 1.5% in the final three months of 2008 - the biggest quarterly slump since 1980. The rate of decline is widely expected to accelerate to at least 2.5% for the whole of 2009 - the worst performance for over 60 years. That follows the biggest slump in household wealth for over four decades, Citigroup said yesterday. It expects 3m households to be plunged into negative equity by 2010.
    The huge decline in our fortunes was underlined by official figures illustrating that manufacturing fell at its fastest pace since 1981 in November, tumbling 7.4% from a year earlier. Citigroup economist Michael Saunders said: 'The UK faces a brutal recession, violent inflation swings, a soaring fiscal deficit, plus a large and extended rise in unemployment.'

    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Slack demand drives 3-day work week at Hyundai plant
    1/10 Press-Register - al.com - Mobile AL
    From October to December, the plant cut 11 production days. The plant employs about 3000 people, and in November turned out about 11000 vehicles — the fewest since the plant reached full production in 2005...

    1/10/2009 saturday
    DOWNSIZING in the news (archives) - tho not a problem with full employment via timesizing -

  • Chevron warns of a drop in profit and Schlumberger plans to lay off 1,000 (5%) in North America & some overseas, by Gold & Casselman, 1/09 Wall St Journal, page A1>B1.
    MORE MAKEWORK in the news (archives) - too little too late & unnecessary with full employment via timesizing -
  • Don't touch that dial, by Kennard & Powell, 1/09 NYT, A23.
    ...The nation will not be ready \for\ the digital television transition.... Analog TV broadcasts are scheduled to stop on Feb.17....
    translation: how can we screw ourselves? let me count the ways: (1) schedule a big attempt to force consumers to upgrade just as you're doing everything you can to fire them & transfer what's left of their money & credit to the super-rich - alternative: discipline the rich & centrifuge their $$$blackhole with a labor shortage engineered by timesizing
    GENERAL BAD SIGNS in the news (archives) - reversed only by dumb war or smart timesizing -
  • Worldwide economy reels under new blows, by Nick Goodway, 1/09 London Evening Standard via thisismoney.co.uk.
    Britain's manufacturing industry is in its worst decline for almost 30 years, US unemployment is at its highest level for more than 15 years and Europe's recession is rapidly catching up with the rest of the world's, according to data revealed today.
    Official UK manufacturing output showed a nine-month decline for industry, which is the single longest downturn since 1980. November's 2.9% fall in output compared with October is the biggest monthly fall in 23 years barring the exceptional 5.4% decline in July 2002 when workers were given two special public holidays to celebrate the Queen's Golden Jubilee.
    Andrew Young, senior economist at the Ernst & Young Item Club [huh?], said markets had been braced for bad data following surveys earlier this week. But he added: 'These figures were even worse than we feared. The sector is clearly in deep recession.'
    Manufacturers' output prices stopped falling for the first time in six months in December, bringing factory-gate inflation down to 4.7%. But analysts believe they will continue their downward trend.
    'Looking ahead, the surveys suggest that manufacturing output is likely to continue to plunge from here, despite the lower pound,' said Paul Dales, analyst at Capital Economics. 'It can't be long before this forces firms to reduce their selling prices significantly. It's not a good time to be in industry.'
    European Central Bank (ECB) Governor-Jean-Claude Trichet said the global financial system remains fragile despite swift and large-scale action by central banks and governments. He added: 'It would be a mistake to underestimate the structural fragility of the present state of global finance and, consequently, of the global economy.'
    US employers cut 524,000 jobs during December which was pretty much in line with economists' forecasts. However, it means total job losses in 2008 were 2.6m, the highest since 1945. The proportion of people out of work rose from 6.8% in November to 7.2% in December, the highest since January 1993.
    The figures reinforced President-elect Barack Obama's plea for action on the US economy. He said: 'Every day we wait, or point fingers, or drag our feet, more Americans will lose their jobs, more families will lose their savings, more dreams will be deferred and denied, and our nation will sink deeper into a crisis that at some point, we may not be able to reverse.'
    The FTSE 100 index, which had been 20 points lower before the US data, rallied 14.11 points to 4519.48, but Wall Street was still expected to open flat.
    Disastrous German industrial output figures and poor eurozone retail figures put further pressure on the ECB to slash rates at its meeting next week.
    Hundreds added to jobs casualty list
    Hundreds more jobs were lost across Britain today as the recession forced further companies to cut their costs as they dug in for the long-term downturn.
    Newcastle suffered another major blow in the financial services sector following the thousands of jobs shed by Northern Rock after it was nationalised last year.
    Newcastle Building Society said it will cut 150 jobs as it plans much lower mortgage lending in the current year and plans to wind down its commercial lending activities entirely. It also said staff who had been working to service the former Icelandic bank Icesave would lose their jobs.
    Pavior and garden landscaping group Marshalls is to axe around 150 posts as it cuts back on marketing staff and pulls of direct installation work. The Swedish-owned Metro International newspaper group is moving its head office from London to Stockholm with the loss of 35 posts. [all these full stories threaded back on 7/04/2009]
  • Battered stores slash forecasts - Dec. sales disappoint as WalMart, others warn of tough months ahead, by Bustillo & Harwood, 1/09 WSJ, B1.
    Darkest before the...dark - after weak holiday sales, retailers prepare for even worse, by Stephanie Rosenbloom, 1/09 NYT, B1.
  • Obama warns of "a crisis unlike any we have seen," 1/09 WSJ, A1.
    [and alas, he has no clue what it's going to take cuz worksharing ain't even on the table yet...]
  • The Obama gap - the big plan isn't big enough, by Paul Krugman, 1/09 NYT, A23.
    [but alas, Krugman's is not big enough either, and top-down instead of something that will activate the grassroots like shorter hours to spread the vanishing American (& yet unautomated) employment]
  • Europe's big chill, editorial, 1/09 NYT, A22.
    Three years ago, the EU was jolted when a gas-pricing dispute between Russia & Ukraine briefly cut gas supplies.... Now that it's happened again and with far greater disruptions, the only surprise is that anyone in Europe is surprised....
    [another great piece of 'share the hemlock' timing...]
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • MediaCorp to reduce work hours but programming not affected, 1/10 Channel News Asia - Singapore
    ...With the shorter 4-day week that will alternate with the regular 5-day work week starting from April 2009, the company will see a cut of about 10% in its annual wage bill...
    1/09/09 friday   doom du jourtm
    DOWNSIZING in the news (archives) - tho not a problem with full employment by timesizing -
  • EMC to cut 2400 jobs, by Robert Weisman, Boston Globe, page B5.
    translation: Hopkinton, Mass. company cuts 7% of its global workforce incl. 600 jobs in Mass.
    KILLING RETIREMENT in the news (archives) - not a problem with timesizing's loooong weekends -
  • Big slide in 401(k)s spurs calls for change, by Eleanor Laise, 1/08 Wall St Journal, A1.
    translation: just when we need all the spending power we can get to support the black hole of investing power...
    SPEEDING UP THE DEATH SPIRAL in the news (archives) - reversed only by dumb war or smart timesizing -
  • Obama promises bid to overhaul retiree spending - huge deficits looming, by Zeleny & Harwood, NY Times, page A1.
    'overhaul'? translation: cuts, so don't expect any hope from Obama - he's still robbing the poor to give to the rich (which is the whole unacknowledged problem in the first place = insufficient spending power to support the black hole of investing power)
  • China losing taste for debt from the U.S. - key lender finds uses for money at home, by Keith Bradsher, NY Times, A1.
    translation: US dollar will soon be in the toilet & international currency will shift to euro if EU can solve immediate gas crisis
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Good Jobs? Green Jobs? Shorter Hours! 1/08 by Tom "The Sandwichman" Walker, EconoSpeak.
    The Sandwichman will award copies of Peter Victor's book, 'Managing Without Growth: Slower by design, not disaster' to up to six contest entrants who make the environmental case for shorter hours....
  • HanseYachts CFO sees luxury boatmakers in crisis, 1/08 Bloomberg USA.
    HanseYachts fired 110 employees in the second half of 2008 and about 70 of its remaining 500 staff are working shorter hours to compensate for a drop in orders....
  • Talks organised to help families cope with financial downturn, by Dominique Loh, 1/08 Channel News Asia - Singapore.
    As many as 15000 unionised workers are now working shorter hours and work weeks since November last year....
  • Record levels of unpaid overtime, 1/08 Guardian.co.uk - UK.
    ...Officials said unpaid overtime was likely to increase this year among workers who were feeling increasingly insecure about keeping their jobs.... Average amount of unpaid overtime last year was 7 hours and 6 minutes a week..\.. But the trend will not apply in companies that are facing contracting order books and have had to impose a shorter working week on staff....
    GENERAL GOOD STUFF in the news (archives) = po/relief from pure strategy -
  • T use up despite drop in gas cost, by Michael Levenson, 1/08 Boston Globe, B1.
    translation: more people using public transportation = reducing pollution & slowing erosion of ozone layer & incidence of skin cancer (T = MBTA = Massachusetts Bay Transportation Authority = Boston's network of public subways, buses, commuter rail)

    doom du jourtm    1/07/2009 wednesday
    DOWNSIZING in the news (archives) - all avoidable with full employment by timesizing -

  • Fed outlook darkens on economy - Dec. minutes reveal concerns of deep recession; Alcoa to cut 15,000 jobs [15%], by Hilsenrath & Evans, Wall St Journal, page A1.
  • Alcoa to cut 13,500 jobs (13%), pointer header, 1/07 NYT, A1>B2.
    SUICIDE in the news (archives) - demotivated with inclusion of wealthy by timesizing -
  • His [stock-speculation] empire in tatters, German billionaire takes life, by Mike Esterl, Wall St Journal, A1.
  • Facing losses, billionaire [Adolf Merckle] takes own life, by Carter Dougherty, NY Times, B1.
    SYSTEM BREAKDOWN in the news (archives) - avoided by obsoleting left-right feud via timesizing -
  • Obama warns of prospect for trillion-dollar deficits, by Zeleny & Andrews, 1/07 NYT A1.
  • Fed's minutes reveal shock at intensity of downturn, by Edmund Andrews, NY Times, B1.
  • Russia dramatically cuts flow of [natural] gas to Europe in price dispute with Ukraine - Winter fuel shortage feared, by Stack & Rotella, Boston Globe, A3.
  • Russia cuts gas; Europe shivers - Putin toughens stance in feud with Ukraine, by Andrew Kramer, NY Times, A1.
    hope du jourtm
    TIMESIZING in the news (archives) - reinvented thousands of times every day despite economists' scorn -
  • Work-sharing could protect jobs: Mitarai, 1/07 Japan Times Online via search.japantimes.co.jp
    TOKYO, Japan - Big business needs to take every measure possible to improve the rapidly deteriorating employment conditions, and work-sharing is an option that should be considered, Japan Business Federation (Nippon Keidanren) Chairman Fujio Mitarai said Tuesday... - see whole article under today's date.
  • So far, agreement on shorter work hours, by Emilia David, 1/07 Philippines BusinessWorld Online.
    MANILA?, Philippines - Shorter working hours and forced leaves have been adopted by some industries, most notably the electronics industry, to prevent retrenchment...
  • Brevard teachers won't get pay raises, 1/06 Florida Today.
    BREVARD, Fla. -..instead of the eight-hour day required in the 2007-08 contract. They argued that a shorter workday would be a trade-off for no raises or step increases..." - see whole article under today's date.
  • Gorenje workers on shorter week as of Monday, 1/06 Slovenska Tiskovna Agencija.
    SLOVENIA, Eastern Europe... "We were not involved in the negotiations, but my information is the agreement...that shorter working hours must not affect net wages... - see more of article under today's date.
  • USPS cuts service hours, 1/05 WKOW-TV.com.
    MADISON, Wisc. -..The economic recession is now hitting the U.S. Postal Service.... Starting Monday, in a cost cutting move, window hours will be shorter at four area post offices...all opening an hour later...

    doom du jourtm  for  tues, jan. 6, 2009
    homelessness in the news (archives) - all avoidable with full employment by timesizing -

  • Homeless families rise 22% in a year - Children hit particularly hard, Boston Mass. census says, by Milton Valencia, Boston Globe, B1. ...7,681 the number of homeless men women and children counted on Dec.15,,,,

    doom du jourtm  for  mon, jan. 5, 2009
    doom du jour tm  for lack of Timesizing (would cut labor surplus & make it a lot easier for people to earn an honest living) –

  • fighting off depression - economists, politicians and the moment of truth, by Paul Krugman, 1/05 NYT A19

    Click for dooms du jour in -
    November 2-30/2004 + Dec.
    October/2004 + Nov.1
    Jul.31 + August/2004
    July 1-30/2004
    March 2-31/2004
    Jan.31 + February 1-29/2004 + Mar.1
    January 1-30/2004
    December 2-31/2003
    November/2003 + Dec.1
    August/2003 + Sep.1
    June/2003 + May 31
    May 1-30/2003
    Dec/2002 + Nov.30
    before April 30/99

    For more details on the work-sharing approach, see our layman's guide Timesizing, Not Downsizing which is available at bookstores in Harvard Square, Cambridge, Mass. or from *Amazon.com online.

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

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