OBAMA-CLINTONOMICS: The rich loot and
look
for the Obama depression around the
bend.
"During the
month, some 432,000 people in the US gave up looking for a job."
"The American
phenomenon of record stock values fueling an ever greater concentration of
wealth at the very top of society, while the economy is starved of productive
investment, the social infrastructure crumbles, and working class living
standards are driven down by entrenched unemployment, wage-cutting and
government austerity policies, is part of a broader global process."
Obama’s State of Delusion
2015
“On the other hand, every major initiative by Obama in
domestic policy—the 2009 stimulus program, the 2010 health care reform
legislation, the 2010 financial regulatory overhaul, countless budget deals
with the congressional Republicans, right up to the executive order on
immigration issued a month ago—was dictated by the needs of corporate America,
and, in many cases, drafted by corporate lobbyists.”
…………. THE ENTIRE REASON BEHIND OBAMA’S AMNESTY HOAX TO
LEGALIZE MEXICO’S LOOTING IS TO KEEP WAGES DEPRESSED AND BUY THE ILLEGALS’
VOTES!
“The consequences for working people—record long-term
unemployment, a tidal wave of home foreclosures, the slashing of wages in basic
industry, the steady decline in living standards over all—were not accidental.
They were the deliberate goal of government policy, for both Democrats and
Republicans, because mass suffering by the working class was required to obtain
the resources needed to bail out the financial aristocracy.”
layoffs
San Diego-based Qualcomm announces 4,700 layoffs
By Josh Varlin
27 July 2015
Qualcomm Incorporated, a San Diego-based semiconductor company heavily involved in the smartphone market, announced 4,700 layoffs and other restructuring measures on July 22. This was in addition to thousands of other US layoffs announced this month, including technology giant Xerox and Mitsubishi Motors.Qualcomm—which is the largest producer of LTE chips used in smartphones—plans on cutting $1.4 billion in expenses, including about 15 percent of its global workforce.
The stated reason for the restructuring is a dramatic drop in profits, to $1.2 billion in the third quarter of this year, down from $2.2 billion in the third quarter of last year. Forecasts for next quarter are even worse, with earnings per share expected to decrease by more than 35 percent.
Analysts attributed these losses to a settlement of almost $1 billion to the Chinese National Development and Reform Commission over monopolistic conduct and the loss of Samsung’s business for the Galaxy smartphone line. Samsung decided to use an in-house processor for the Galaxy S6 rather than Qualcomm’s Snapdragon 810.
This comes only a month after Jing Wang, Qualcomm’s former president of global business operations and former executive vice president, was sentenced to 18 months in prison and a half-million-dollar fine for insider trading, money laundering and obstruction of justice.
Several other companies also announced mass layoffs recently, including Xerox (3,000 globally), Haggen (700-800 in southern California), Anglo-American (6,000 globally), Newport News Shipbuilding (up to 1,500 in Newport News, Virginia this year), Mitsubishi (1,200 at a plant in Normal, Illinois) and Barclays (more than 30,000 globally over the next two years).
Xerox, the copier and document giant, is “in a near-permanent state of restructuring,” according to Brighton Securities Chairman George T. Conboy, who is also an investor in Xerox. The company had been seeking to move into the business service industry, helping to outsource business processes. Currency headwinds and several false starts have caused the company to pare back some of these plans.
Conboy also pointed out that Xerox has spent over $600 million in stock repurchases since the beginning of 2015, even as the stock lost value. Essentially, the company increased its debt by $50 million buying back a falling stock. “They threw their money down a rat hole … what are you doing with your capital? Do you have no better use of the capital than to buy back stock? It doesn’t make sense.”
Technology giant Microsoft announced 7,800 layoffs less than three weeks ago, indicating that the Qualcomm and Xerox layoffs are part of a trend in the technology sector and the economy as a whole.
Last week Mitsubishi announced plans to sell its 2.4 million-square-foot auto plant in Normal, Illinois after decreased sales, particularly of the i-MiEV, Mitsubishi’s electric car. Illinois has given almost $30 million in tax incentives to Mitsubishi to maintain production in the state even as several car lines were discontinued at the factory. In 2010, the UAW agreed to a $1.60/hour wage cut to keep the plant “competitive.”
The job cuts at Haggen, a grocery chain based in Washington, are the second round of layoffs in eight months. The grocery chain is cutting staff at its California stores after buying 146 Albertsons stores on the West Coast.
The layoffs in Newport News, a Virginian shipyard, come after workers are finishing several long-term projects. Three aircraft carriers are leaving the shipyard over the next year and a half. In addition to the layoffs, Newport News will cut a tuition reimbursement program and outside training not required for workers’ jobs.
Newport News is a division of Huntington Ingalls Industries, which is Virginia’s largest industrial employer, with over 23,000 workers. For now, the company claims that it will not make changes to workers’ pension plans.
International banking giant Barclays, based in London, plans to cut more than 30,000 jobs according to the New York Times. Executive Chairman John McFarlane—known as “Mac the Knife” for his experience in restructuring other financial institutions—emphasized cutting Barclays’ cost-to-income ratio. The job cuts required to get this ratio below its present level of 60 percent will likely come primarily from middle and back office services.
The total announced layoffs in the United States for the month of July so far is approximately 16,000.
Even as jobs are being axed by the thousands, companies are engaging in stock buybacks and other parasitic financial activities. American corporations alone are sitting on about $1.4 trillion in cash, but refuse to productively invest. As a result, US economic growth has largely come to a standstill in the first half of the year, with gross domestic product growing by just .2 percent in the first quarter.
Tech firms fight hiring rules in immigration bill
Americans
would "be shocked to know that most of the H-1B visas … are going to
outsourcing companies," Sen.
Durbin, D-Ill., said during a recent hearing.
America… NO LEGAL NEED APPLY!
One-way trips to U. S. frustrate immigration authorities
An estimated
4.4 million people entered the country on legal visas and have never left.
Officials often have no way of knowing whether they do.
BILL GATES SAYS HIRING
AMERICANS (Legals) IS DISGUSTING WHEN THERE ARE BOATLOADS OF IMMIGRANTS WILLING
TO WORK FOR ONE-THIRD LESS!
THERE ARE NO
BILLIONAIRES THAT DO NOT WANT AMNESTY,
NO E-VERIFY, AND OPEN BORDERS TO KEEP WAGES DEPRESSED TO THIRD-WORLD
LEVELS!
BUT WE
STILL GET THE TAX BILLS FOR MEXICO’S LOOTING AND CRIME TIDAL WAVE!
BILLIONAIRE BILL GATES: Number One enemy of
the American worker.
He didn’t get rich paying legals a living
wage!!!
ONE IN FIVE
(LEGALS) STILL HAVE NO WORK AFTER THE
RECESSION – Good time to hand 40 million looting Mexicans even more of
our jobs???
OBAMA AND
THE DEMOCRAT PARTY ARE WORKING ON JUST THAT!
LA RAZA SUPREMACIST MARK ZUCKERBERG WANTS
OPEN BORDERS…. except for his!
Today, Sen. Jeff
Sessions (R-Ala.) blasted pro-amnesty billionaires whose fondness for open
borders ends at the doors of their "gated compounds and fenced-off
communities," noting how Facebook CEO Mark Zuckerberg bought other four
houses surrounding his own just because he wanted "a little privacy."
Mark Zuckerberg says Americans are pathetic!
Jobs should go to ILLEGALS as well as billions in welfare, and his scholarships
(ONLY FOR ILLEGALS!)
ZUCKERBERG:
AMERICA’S GREEDY LITTLE LA RAZA SUPREMACIST HISPANDERING RUNTJOB!
his
one man war against the AMERICAN worker!
Today, Sen. Jeff
Sessions (R-Ala.) blasted pro-amnesty billionaires whose fondness for open
borders ends at the doors of their "gated compounds and fenced-off
communities," noting how Facebook CEO Mark Zuckerberg bought other four
houses surrounding his own just because he wanted "a little privacy."
BILL GATES FIRES
EMPLOYEES AND THEN DEMANDS AMNESTY TO KEEP THE MEX HORDES JUMPING OUR BORDERS!
ZUCKERBERG
tech says no to hiring AMERICANS
OPEN BORDERS AND
ENDLESS HORDES OF IMMIGRANTS POURING IN IS ONLY ABOUT KEEPING WAGES DEPRESSED
To
cite just one example, if there is a shortage of U.S. engineers, are 1.5
million Americans with engineering degrees either unemployed or working in
other fields? In all too many cases, U.S. tech companies prefer foreign workers
on temporary visas because they are cheaper and more exploitable than
Americans.
HE CONNED A NATION LIKE A CHICAGO HUCKSTER
AND CALLED IT “HOPE and CHANGE” ONLY TO BECOME
BUSH’S THIRD AND FORTH TERMS ON STEROIDS!
AND CALLED IT “HOPE and CHANGE” ONLY TO BECOME
BUSH’S THIRD AND FORTH TERMS ON STEROIDS!
A new ABC News
poll has nothing but heartache for Democrats and President Obama. By a wide
margin of 52-42%, voters see President Obama as a failed president. Americans also
see Obama as more of a divider than uniter. Only 38% believe President Obama is
uniting the country. A majority of 55% believe he's dividing the country.
VISAS – OPEN BORDERS FOR DEPRESSED WAGES…
It’s working!
The work that the 400 SCE IT employees do isn't disappearing,
instead it and their jobs are being taken over by foreign guestworkers here on
H-1B visas.
MICHELLE
MALKIN: THE LIES ABOUT HIRING AMERICAN… not in America!!!
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