President Obama has lashed out at Wall Street for taking huge bonuses totalling over US$18 billion last year while their firms were being bailed out by taxpayers. That is the height of irresponsibility. It is shameful, and part of what we are going to need is for the folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility. he was quoted as saying by news.com.au.
Jan 302009
That”s right, the state of California – which has one of the biggest economies in the world – has no money left to pay income tax refunds; so now it is planning to refund taxpayers with IOUs. It is also asking state employees to go on two days unpaid leave every month. California is now staring at a US$42 billion budget deficit. How did this happen? Oxbury Publishing provides an analysis here. You gonna be back, Arnie? I think you have just terminated California (as a going concern). Oops. Who is going to bail out California?
Electronics contract manufacturer Jabil Circuit is set to cut its manufacturing capacity in certain regions and close 10 of its facilities worldwide. It will reportedly retrench 3,000 of its 85,000 workers; 90 per cent of these retrenchments will take place outside the United States.
