Monday, July 18, 2011

MORE JOB LOSSES

This will not make the president happy. Borders is closing all of its stores and letting go 10,500 or so employees. Cisco, the computer network company, is laying off 16% of its work force.

Cisco's share price has been dropping all year, so they obviously have problems.

I do not think you can blame the economy alone for Border's death, but it may have hastened it. I think the brick and mortar book store days are numbered.

Nonetheless, yet more unemployed people populate America despite the so called recovery.
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