Friday, September 9, 2011
One thing I can say though.. Obama's 'Jobs' bill better seek to create A Whole Lotta them.
BofA discussing about 40,000 job cuts: report (Reuters) -- "Bank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring... Investors are pressing BofA to improve its performance after it lost money in four of the last six quarters and its stock has fallen by half this year."
Question: Why is Bank of America going to dump so many jobs?
Answer: " Investors are pressing BofA to improve its performance.."
Think about that a moment... Politicians supposedly want to create jobs to among other things, calm jittery Wall St. Investors. And yet what is it that Wall St. Investors really want? For companies to eliminate as many jobs as humanly possible to get various businesses profitable enough to strengthen their shareholdings.
And round n' round the wheel goes...
Posted by Susquehanna at Friday, September 09, 2011