Skip to comments.Obama’s Layoff Bomb
Posted on 10/30/2012 11:47:36 PM PDT by Cincinatus' Wife
In June, a diffident and self-deluded President Obama claimed that the private sector is doing fine. Last week, the private sector responded: Speak for yourself, buster. Who needs an October Surprise when the business headlines are broadcasting the imminent layoff bomb in neon lights?
The Bureau of Labor Statistics reported last Tuesday that employers issued 1,316 mass layoff actions (affecting 50 workers or more) in September; more than 122,000 workers were affected. USA Today financial reporter Matt Krantz wrote that much of the recent layoff activity is connected to whats been the slowest period of earnings growth since the third quarter of 2009. Some necessary restructuring is underway in response to the stagnant European economy. But more and more U.S. businesses are putting the blame bravely and squarely right where it belongs: on the obstructionist policies and regulatory schemes of the blame-shifter-in-chief.
Last week, Ohio-based auto-parts manufacturer Dana Holding Corporation warned employees of potential layoffs amid looming concern about the economy. President and CEO Roger Wood specifically mentioned the walloping burden of increasing taxes on small businesses and the need to offset increased costs that are placed on us through new laws and regulations.
.............[snip detailing upcoming layoffs].............
Truth suppression is a time-honored Obama tactic, of course. Remember: The administration and its Democratic allies on Capitol Hill attempted to punish Deere, Caterpillar, Verizon, and ATT in 2010 for disclosing how the costs of Obamacare taxes were hitting their bottom lines even though they were simply following SEC disclosure requirements. The White House also tried to silence insurers who dared to inform their customers about how Obamacare was driving up premiums.
Not this time. The administrations bullyboys dont have enough whitewash and duct tape to cover up the past, present, and future devastation of the president and his economic demolition team.
(Excerpt) Read more at nationalreview.com ...
Outstanding article by Malkin! We need to read it, and encourage others to read it.
Excellent article, and even though I don’t wish to see anyone lose their job - this might be the much-needed wake up call these voters need. Other businesses are warning their employees of possible layoffs if obama care isn’t repealed.
So good on those businesses who have the nerve to tell the truth. I think, we, as a nation, have had enough bullying by the DEMS to last a life time.
UBS just announced 10,000 layoffs on FoxBusiness.com
Not to mention the looming threat of Obamacare "taxes".
The more who get the pink slip, the worse things will slump, and the vicious cycle is already underway.
The Republicans had best remove the threat if anyone wants an economic recovery.
Obama signed the WARN Act. Now, he has to live under it. Companies myst give 60 days notice/warning to employees about potential layoffs.
Unions demanded this & Obama caved to it.
This is obama’s plan to destroy this country. What I can’t understand is why all the politicians are going along with him.
They all feed at the same trough--the public trough.
As many as 50 Obama-backed green energy companies bankrupt or troubled
Posted By Michael Bastasch On 3:24 PM 10/30/2012 @ 3:24 PM In Daily Caller News Foundation,Politics | No Comments
The October bankruptcy of solar company Satcon Technology Corp. puts the number of bankrupt or troubled green energy companies as high as 50, according to one estimate.
During the first presidential debate, Republican candidate Mitt Romney said the Obama administration had doled out $90 billion to green energy companies, half of which he said had failed, which sparked a media-wide debate over the accuracy of the claim.