Incomplete list of U.S. job loss announcements and shutdowns.
Once again, five tech companies are leading the way in corporate cash hoarding: Apple, Microsoft, Alphabet, Cisco Systems and Oracle. For the past several years these very same tech companies have dominated corporate cash hoarding. In 2015 they hoarded a combined total of $504-billion USD, or 30% of the cash available in the U.S. economy. Basic economics courses will tell you that cash hoarding is a major drain on economies, pulling money out of the cash flow system which drives economies. And these are the same tech companies that are killing tens of thousands of jobs!
Connecticut: So far, the ongoing state jobs destruction has resulted in more than 980 people becoming unemployed! The state agencies affected are Children and Families, Developmental Services, Social Services, Mental Health and Addiction Services, University of Connecticut, Department of Correction (reports that prison guards now working 18 hour shifts as a result!), Department of Economic and Community Development, Military Department, Office of Governmental Accountability and the Office of the Chief Medical Examiner.
Idaho cattle ranch within the Caribou National Forest
Idaho: Despite years of boasting how great their farm economy was, even boasting of the Ag industry’s relationship with Mexico, the Department of Agriculture admitted that in 2015 Idaho’s farm exports crashed by 22%! Idaho dairy exports crashed and burned by 43%! It’s blamed on the ‘strong’ USD, which makes U.S. products more expensive overseas: “It was a nice ride, but it’s over.”-Laura Johnson, Idaho Department of Agriculture
Indiana: In Mishawaka, USA Skate Center shutting down in June, the owner wants to do something new. What automotive industry recovery? Chassix shutting down their Diversified Machine Bristol factory, 5-hundred jobs lost starting Monday! Administrators say their “largest customer” canceled a major contract.
Nebraska: In Omaha, Hy-Vee shutting down its 33 years old Stockyards Plaza grocery store by June, 174 jobs supposedly being transfered to other stores! Of note, the lease on the property will remain in effect until 2018 (meaning Hy-Vee will still pay the rent on an empty store, until a new tenant can be found).
New York: More proof you brick-n-mortar store owners can’t directly blame the internet/high-tech competition for your demise; The Wall Street journal reporting that Armonk based IBM is conducting yet another round of massive job cuts in Colorado, New York and North Carolina. Those jobs are being off-shored to Costa Rica and India. Analysts think that when IBM is done killing U.S. jobs, this year, that as many as 14-thousand people could be unemployed!
North Dakota: Intervention Energy Holdings now chapter 11 bankrupt busted.
Oregon: ObamaCare insurance companies plan to jack up ObamaCare rates for Oregonians by as much as 30% in 2017!
Rhode Island: Westerly School Committee laid off 18 people due to not getting the anticipated increase in taxpayer funding, and due to jacked up ObamaCare costs: “Healthcare is going up $300-thousand, we have to pay that, we have no choice, but we only got about $130-thousand in our allocation from the town, so that is not even covering the healthcare cost, much less anything else!”-David Patten
Tennessee: Local news reports say Sears Holdings has posted “Going out of business!” signs on the North Knoxville Kmart, however they could not get any confirmation of shutdown from corporate administrators.
Iran wants to buy these new Boeing aircraft, thereby saving Boeing’s ass, but your ‘elected’ officials say “Never!”
Washington: The Washington Free Beacon reports that Boeing administrators have been chastised for meeting with Iranian officials. Boeing is losing its financial ass, shedding thousands of jobs, and Iran is willing to spend billions buying Boeing aircraft. However, U.S. politicians, both in Congress and the Obama regime, have imposed new sanctions on doing business with Iran. Your ‘elected’ politicians now consider doing business with Iran immoral, saying “..consider the profound moral implications of engaging a nation that has proven time and time again that it cannot be trusted.” (It’s the U.S. that has proven time and again that it cannot be trusted) Broadspectrum shutting down their Anacortes location, 57 jobs gone by June.
Washington DC: The Federal Reserve Bank says credit card debt is now at $1-trillion USD! That’s the same amount of credit card debt at the start of the ‘recession’ in 2008. Don’t expect any bailouts this time. The DC Metro has fired 20 managers and warns more layoffs are in the works as part of efforts to “reform” the system.
Wisconsin: In Steven’s Point, after 42 years Ella’s bar shutting down on Wednesday.
WARN=Worker Adjustment & Retraining Notification.
I found a 2010 AFL-CIO analysis (titled The Public Availability of WARN Notices: Lack of Accessibility and Disclosure…) which proves what I’ve been suspecting in my search of state WARN notices; most states are not complying with federal WARN regulations and are not publicizing or tracking mass layoffs.
Former employees who receive severance are not counted as unemployed!
Employees of religious non-profits might not qualify for unemployment assistance: “If the non-profit organization is a church, you may or may not be entitled to unemployment. It all depends upon state regulations for church employers. In many cases, churches are allowed to set their own rules regarding unemployment benefits, meaning the church can choose whether to offer benefits to former employees.”
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.”
57 years old Los Angeles Memorial Sports Arena shutdown, supposedly it’s being replaced by a $250-million USD project.
According to the Brewers Association last year 620 new ‘craft beer’ breweries opened across the U.S. There are now more breweries in the U.S. than in the past 126+ years!
