| Author | Message | ||
     Bads1 |
Just heard it on the news. Damn I hate waking up to this crap!! 700 of them hourly jobs. | ||
| Glitch |
Seems to be the going trend. Georgia just went into double digit unemployment. | ||
| Xodot |
Milwaukee — The Associated Press Last updated on Thursday, Jul. 16, 2009 08:09AM EDT Harley-Davidson Inc. (HOG-N17.49----%) said Thursday it is cutting 1,000 more jobs as its second-quarter profit tumbled 91 per cent on falling motorcycle shipments. The company also said it is cutting its forecast for motorcycle shipments for the year. Harley said its earnings for the quarter ended June 28 fell to $19.8-million (U.S.), or 8 cents per share, from $222.8-million, or 95 cents per share, in the same quarter last year. Revenue declined 27 per cent to $1.15-billion. Analysts surveyed by Thomson Reuters forecast 24 cents per share on revenue of $1.15-billion. Harley said it plans to cut another 700 hourly and 300 salaried employees. | ||
| Court |
I suppose some folks like "Hope and Change" better than others. . . .
What do you suppose the impact MIGHT have been if instead of financing pork barrel (the Dems admit to over 9,000 "out of scope" projects in the stimulus funding) spending that payroll taxes had been suspended for a year? Cars, motorcycles and guitars would be jumping off shelfs . . . . AND (more importantly) companies would be investing in hiring folks to meet that demand. How much? . . . call me curious, has EACH of you received from the trillions of dollars of "stimulus" money? Interesting that Morgan Stanley got LOTS of it, has just reported a $2,000,000,000 profit, paid their Chairman John Mack a handsome $70,000,000 salary and paid ZERO dolllars in federal taxes. Did I mentioned their employees contributed to $2,000,000 to the Obama campaign. I suppose if you are familiar with Chicago politics this makes a great deal of sense. Those with a simple Econ 101 class under their belts will be looking in wonder like a 6 week puppy would look at at oscillating fan. Just a thought. See you on the Backfire Board. | ||
| Jcbikes |
Zero! | ||
| Moxnix |
With the housing collapse still drawn out, we now face the commercial property and commercial credit collapses. My feeling is that the GM banko was partly to deal with GMAC (General Motors Acceptance Corporation) wheels falling off the credit miscarriage in advance of the soon-to-occur other events. GM was making more money as a housing and auto lender than as a vehicle builder. This from an investment newsletter today: "In the United States, dividends are going down faster than at any time in the last 50 years. Businesses are earning less and paying less in dividends because shoppers have stopped buying." Washington bails out Wall St, but not California. No banks want California IOUs, but the national debt is 70 times higher and financial institutions keep loaning the feds $$, even at a crappy 3.5%. New Deal, Obama style, on the stimulus side; friends thrive and the folk head to the bread line. | ||
| Johnnymceldoo |
Goldman sachs is doing pretty good now. Maybe HD needs to send its upper level personel to an expensive weekend resort to let off some steam. Any problem can be averted with enough of our tax dollars. | ||
| Buellinachinashop |
480 from Milwaukee. 90% decrease from this time last year. | ||
| Court |
>>>Maybe HD needs to send its upper level personel to an expensive weekend resort to let off some steam. That seems to work for the SOCIAL SECURITY ADMINISTRATION. I'm thinking that if I spent a week at one of America's premier luxury spas, doing "motivational" dances and enjoying casino parties on someone else's nickel, I'd be more productive. | ||
| Moxnix |
A financial opinion from Oz: "There are some who think there is something underhanded and un-American about how Goldman does business. Making billions trading bonds? It is almost as if they knew better than anyone else what the feds would do next. Maybe they do." Goldman Sachs is thriving. Main Street is breaking down. (Message edited by moxnix on July 16, 2009) | ||
| Aptbldr |
Subject article also cites factor for H-D's lagging sales: H-D is not positioned to finance its customers. They've tighten credit standards, and had to because America's going through debt-destruction; has to. It's not a political event. | ||
| Moxnix |
Of course it is not a political event. Mr. Market is NEVER wrong, despite the meddling of politicians. | ||
| Bikertrash05 |
Every bad quarter they have, the hatchet falls, mostly to keep the stocks from dropping. I was let go May 1st, and the people still there are working overtime to make up for the less bodies. There hasn't been any good news from HD since the 100th. | ||
| Johnnymceldoo |
That sucks Jim. Sorry to hear. | ||
| Brumbear |
As far as schooling goes I have none for economics. I can only gues. It does not look like it would have mattered anyway as the ones who teach that crap are also into this mess as deep as we are. I would say though not making all these HD dealers expand into friggen two guys department stores with an elevator and fancy everything could have saved a few quid or not but the owners would have more money for the bad times. I guess the bottom line seems to be we pretty much all are guilty in crushing this economy we spent like soldiers in a whorehouse on payday for a long time while money was good. That is not what you are supposed to do as it turns out. Example: I know people who make 500K a year but they have a 2 million dollar home 6 different high end cars taxes are 19K a year they both get nails done for 95$ dollars apiece once a week they drink fancy wine and have every gadget known to man eat out everyday. They live paycheck to paycheck. Is it wrong to have all those things no it's kinda cool but not if you make 500K a year cause you can't afford it if you live paycheck to paycheck. That stuff is for people who make alot more than that but for a long time it has been easy to get that stuff to easy. INSTANT GRATIFICATION it gets us all I was lucky enough to have a good woman to say listen stupid we don't have the money for all that shit only buy this or I would be in a much worse boat than I am in. I guess what I am trying to say is niether the DEMS or the Rep. got us into it we did and we have to get ourselves OUT!!!!!!!!!! | ||
| Ft_bstrd |
Maybe "Sheriff Joe" can tell us where all that stimulus money went. | ||
| Teddagreek |
Sucks... I've worked in manufacturing for years, That's just how it is.. Been there one too many times.. My hearts out to these guys.. I find it funny who all of a sudden people care. Yet Bush administration stood by while millions of American Jobs were outsourced.. On a brighter note the US Army is going increase it ranks by 30,000 people  } | ||
| Court |
>>>Maybe "Sheriff Joe" can tell us where all that stimulus money went. Unlikely. . . yep, they "outsourced" that function. Company has already come forward to admit their is $350,000,000 they don't know where it went. http://www.washingtonpost.com/wp-dyn/content/artic le/2009/05/20/AR2009052003535.html http://blogs.abcnews.com/politicalpunch/2009/02/tr acking-your-s.html | ||
| Ft_bstrd |
How many Halliburton cost over runs can you buy with $1,800,000,000,000? | ||
| Johnnymceldoo |
Recession 101: interesting fact about recessions...they end. If the transparent leadership we have now has their way operating costs will increase even more so than they are now. We'll add all kinds of new regulations. How does this combat jobs going oversees? } | ||
| Court |
Why waste time and effort find Halliburton . . Congress, after 9/11 decided to take the bull by the horns and manage, right under their own eyes, their little pet project themselves. Welcome to the world of mega-construction folks.
SOURCE | ||
| Moxnix |
Americans aren't buying; so Asia isn't selling. Exports...the source of its real wealth...are down. And there's no reason to think they're coming back anytime soon. So, if they make parts for The Motor Company, someone is out of a job on Taiwan. The Adjustable Rate Mortgages in US housing will convert out by 2011, more folks will be in foreclosure. The recovery, in my opinion, will start at the end of 2011 or in 2012. The economy won't improve until the other shoe drops and the rebound can begin. Recessions don't end until the bottom is hit. It may feel like the bottom, but it ain't. Stimulus 2 will just stretch out the pain. I'm betting on Japan style prolonged deflation, not Obama stimulated inflation. No customers, prices drop. A year ago there may have been 1300 Harleys on ebay in the summer, now it is double. Times are tough, but this, too, shall pass. | ||
| Buellinachinashop |
Reading the Milwaukee Journal Sentinal today, they say that this layoff could lead to more. The Capt. Drive plant will shut down for 14 weeks. Some other plants will be shutting production down as well. | ||
| Ferris_von_bueller |
negative feedback loop | ||
| Madduck |
The other shoe waiting to drop is detailed here. Failure of the China/US Ponzi scheme is happening, government is hoping we will be distracted by all of this other mess. http://articles.moneycentral.msn.com/Investing/Sup erModels/mad-world-chinas-bind-is-ours-too.aspx Our purchases of international goods is about to go over a cliff and no one is prepared for the move from Globalization to rampant nationalism as trade moves from "goods for dollars" to "goods for goods". Can you all say BARTER is BACK. Globally this time. | ||
| Ferris_von_bueller |
Man, doomsday 2012 doesn't ring so funny as it once did. | ||
| Oddball |
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| Paw |
What happened here I thought this topic was about Harley layoffs...Anyway if my EX is in the out crowd, won't break my heart any!!! But the rest of the Harley workers, I feel for. | ||
| Buellgrrrl |
Quit wasting you're time blaming Obama et al for HOG's downfall. HOG management brought this on themselves long before Obama took office. Sadly, a bunch of ordinary Joes and Jills that work for HOG are going to pay for HOG's mismanagement while HOG's departing executives enjoy their golden parachutes. | ||
| Court |
For the first time . . . I think I agree with this crazy gal. And I don't think we've seen the tip of the Harley-Davidson iceberg. Fortunately, I think Keith Wandell has what it takes to sort this cobbled up mess out. There are a couple folks who I could not be more pleased to have had them shown the door. Look for more to follow. |
