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Another Round of HP Layoffs
geekroot's dad writes "AP News is reporting that Palo Alto, California-based Hewlett-Packard is 'fighting to stay competitive with formidable rivals like IBM and Dell' and is announcing 5,900 European job cuts "to safeguard the future" of the company. From the article: 'Michel Destot, the Socialist deputy mayor of the southern France city of Grenoble - where HP has one of its French plants - said the layoffs were "unacceptable" and demanded that HP managers also meet local politicians to discuss scaling back the job cuts.'" This round following the first cut back in July.
Maybe HP can sponsor Lance next year if he goes for #8. I think the good Mayor would appreciate it.
Those who cannot remember the past are condemned to think "profiling is worse than the slaughter of innocent people..."
I'm serious. The US has too much debt, and has put too much new money in circulation over the last few years. We were teetering on the edge of the cliff even before Katrina with a suverely over leveraged housing market. If I were you I would dump stocks, bonds, and dollars like it's doomsday (because it is) and start buying gold and silver (or maybe select gold, silver, and oil stocks) Don't buy futures though, there is a real risk of default. The US is heading full spead towards a hyperinflationary great depression worse than the 1930's and the 1980's combined. Watch out, all hell is about to break loose.
Why was this was this ( http://slashdot.org/comments.pl?sid=161969&cid=135 41221 ) just marked off topic? HP didn't just magically decide to bite the bullet one day. They are catching hell because the US economy is byting the bullet too. Sure some of their internal managment didn't help, but it's the fundamentals that are killing them (and GM and Ford, and Kodack who have also had layoffs) Don't tell me that's a cooncidence! Bottom line is that if people half to start choosing between their house payments and their PC payments, the PC will loose out every time. Bottom line, the US savings rate is the lowest since the great depression which means people have less money to buy PC's. And also, how come the notational bets on derivative outcomes are 270 trillion dollars while the US GDP is only 13 Trillion dollars? Sounds like a credit disaster to me.
Oh, I forgot, thank you France for the Statue of Liberty!
We have a thread winner!
stevesliva, stick around for your prize.
Everyone else, thanks for playing, and better luck next time!