Some interesting and important news stories to start off your day.
Layoffs become trendy, major companies like Caterpillar, Pfizer, Home Depot and Sprint Nextel announce over 72,000 collective jobs cut today. Hopefully they’ll all be back on their feet sooner, rather than later.
It is not just the top law firms that are freezing salaries – the United States Congress may soon follow suit.
President Obama clears the way for individual states to make fuel emission standards stricter. Another olive branch to the liberal wing.
Democratic House leaders quietly fear that an ethics probe into U.S. Congressman Charlie Rangel’s financial affairs may create a distraction from their economic stimulus efforts. If by distraction the House leaders mean media attention, I seriously doubt it.
In an effort to create a bipartisan spirit in Washington, President Obama suggested that Republicans stop listening to Rush Limbaugh. Odd.
Home sales unexpectedly rise, comprised mostly of distressed property acquisitions. With layoffs mounting, I expect things to get much, much worse before they get better.
MM
