Investment WatchblogThanks Obama!
Re-cov-er-y!
Closures include 46 Kmart, 30 Sears and 31 Sears Auto Center locations.
5,457 workers will lose their jobs.
Pennsylvania, Michigan and Indiana are hardest hit.
Sears Holdings Corp. (NASDAQ: SHLD) is laying off at least 5,457 workers and closing over 100 Kmart, Sears and Sears Auto Center locations, many before Christmas.
Sears spokesman Howard Riefs declined to speak by phone. “We disclose our store counts at the end of each quarter,” he said via email. “We don’t have further comment.”
MORE with list of stores/cities effected.
http://seekingalpha.com/article/2587065-sears-layoffs-top-6000-closing-over-110-outlets
How much longer can they keep up the losses? Amazon has never made a dime, but they have burnt through billions of $$$.
Amazon is running out of excuses for losses
Amazon.com Inc. reports quarter three earnings today and analysts are expecting a loss of $0.75 per share according to FactSet. That’s a significant jump from their loss of $0.09 per share for the same period last year. Amazon follows a “profitless prosperity” model so losses aren’t unexpected, and typically Wall Street shrugs them off. This year, however, Amazon (AMZN) has seen more than a 20% drop in value on the NASDAQ.
Wall Street is becoming restless– is it time for Amazon.com CEO Jeff Bezos to start focusing on the bottom line?
Yahoo Finance’s Henry Blodget believes that investors are clearly becoming frustrated. “I think what really spooked people was the big loss that they forecasted this quarter. It was startling even to me,” says Blodget who has been a long time Amazon shareholder.
http://finance.yahoo.com/news/expect-amazon-to-tank-after-earnings–blodget-171137201.html
Read more at http://investmentwatchblog.com/sears-laying-off-5457-closing-over-100-outlets-46-kmarts-61-sears-many-before-x-mas-amazon-is-running-out-of-excuses-for-losses/#QjuVceP8D46mYrQw.99
Bye , Bye Miss American Pie,
cant support companies and suppliers with out good paying jobs..
Back in the 70’s I said that!
Good. Let ’em go. (just don’t let the bosses escape)
American entrepreneurs will finally have the ability to fill the public’s demand for goods and services without these Zionist crooks sucking the wealth out of the country, and illegally crushing all competition.
Start a business (or learn a trade) now that will fill a demand you expect to grow. Personally, I think blacksmiths will be in big demand as automobiles are abandoned to rust, and you can expect us to move toward an agrarian economy, as we once had.
Nothing important will be lost, but everyone’s life will change. Prepare for that change, and you’ll be fine.
I say BS!!
There will never be a ‘recovery’ when all we have are crappy service-sector jobs!
Manufacturing built this country and it is now gone.
Increase the tariffs on imports to make it cost effective to manufacture here in the US again!
Oh, and get rid of the magic snake oil known as Trickle Down Economics BS!!