Incomplete list of publicly announced layoffs & shutdowns:
Former U.S. Treasury Secretary Hank Paulson warns that the Chinese economy has “run out of steam”!
Arkansas: After about 70 years the Crossland Zoo suddenly shutdown by the Crossett city council, who apparently did not involve public comment regarding the decision. News reports say residents are pissed.
California: Menlo Park based Kaiser Family Foundation just released their study of the effects of Affordable Care Act (ObamaCare) insurance rates and concluded that in 2014 insurance rates through employers went up an average of 4% yet wages averaged only a 1.9% increase. Many insurance companies have already warned of rate hikes by as much as 30% for 2016! In Fresno, after five years family owned Swiggs Sliders & Wings shutdown, blaming increased competition, increased costs (specifically ObamaCare insurance and minimum wage) and declining sales. Local news reports revealed the location is a revolving door for dozens of past restaurants.
Delaware: Affordable Care Act (ObamaCare) the final straw in forcing the taxpayer funded nursing home Emily P. Bissell Hospital to shutdown. The nursing home was plagued with problems from faulty water pipes to declining number of customers. But news reports say the patients aren’t happy with their new homes either, saying many were told their new nursing homes were just temporary when they really aren’t.
Florida: In Miami, after one year restaurant Morimoto South Beach shutting down by the end of the month. In Jacksonville, a restaurant described as a popular hangout for politicians, Two Doors Down, is shutting down due to greedy property owners/developers.
Idaho: State Department of Labor admitted that the unemployment rate went up in The Gem State, blaming a net loss of 4-hundred jobs in August!
Illinois: Chicago based internet couponing company Groupon announced it will kill 1-thousand 1-hundred jobs over the next year, as it ends operations in six countries! Groupon is also selling-off 45% of its Republic of Korea ops. Rodan Asian Fusion Lounge suddenly shutdown after 12 years, a former manager blames the greedy landlord for jacking up the rent. The Bloomington OfficeMax shutting down in time for Thanksgiving, 20 jobs lost.
Indiana: In Fort Wayne, after 20 years Conser Music instrument store shutting down in October. The owner said that demand for music lessons peaked between 2002-07, then crashed once the Great Recession started, with no recovery in sight.
Maryland: Affordable Care Act (ObamaCare) forcing taxpayer funded Dimensions Healthcare System’s non-profit Laurel Regional Hospital to eliminate an additional 84 jobs before Thanksgiving, on top of the 38 already laid off. It’s part of a bigger plan to turn the hospital into a smaller outpatient clinic (which means even more job losses). After 35 years the Ocean City The Bookshelf Etc. bookstore shutdown, it’s going to be turned into a seafood store.
Massachusetts: Harvard University’s Joint Center for Housing Studies (JCHS) and Enterprise Community Partners are warning that U.S. residents who rent are about to experience a more than 50% increase in payments between now and 2025! This new report comes a month after Washington state based Zillow called current rents “crazy”.
Nevada: Proof even the rich are cutting back on spending; in Las Vegas after ten years the local Penske Wynn Ferrari Maserati dealer shutting down before the end of the year.
New Hampshire: Rymes Propane & Oil shutting down three of its four fuel stations! Administrators blame new laws that would force them to spend money upgrading their fuel stations, and they say it’s not worth it.
New York: Bankrupt grocery store operator The Great Atlantic & Pacific Tea Company (A&P, Pathmark, Waldbaums, Liquor Store, Food Emporium, Food Basics) updated the number of people in The Empire State who’ll become unemployed very soon; at least 13-thousand and 97! Union Springs Board of Education shutting down two elementary schools before the next school year, blaming what I call Disappearing Students Syndrome. However, could the real reason be that the school board wants to spend $8.2-million USD on a new project? After many financial troubles internet based invention company Quirky now chapter 11 bankrupt busted. Reports say Flextronics wants to take over Quirky’s Wink division. Too Big to Jail evil JPMorganChase accuses the Federal Housing Administration (FHA) loans of being the now banned subprime type: “FHA requirements are down to a 520 FICO and you only have to put 3.5% down; that’s subprime lending…”
Pennsylvania: Ohio based natural gas company Stingray Pressure Pumping laying off 25 people in Washington County right before Thanksgiving.
Texas: In Wichita Falls, Peerless Manufacturing revealed they shutdown their seven years old factory last week, blaming the oil industry. 60 jobs lost.
Washington: Colorado based oil and gas engineering company CH2M announced they’re shutting down their Bellingham office blaming decreasing profits.
21 September 2015: “We need to move on, too.”
WARN=Worker Adjustment & Retraining Notification
Former employees who receive severance are not counted as unemployed
The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all ‘measuring green jobs’ products. This news release is the final publication of monthly mass layoff survey data.”