Wednesday, March 24, 2010

Mass Firings Lead to Economic Boom--for big corporations...

The Solution for the recession: full un-employment!
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excepted from

http://www.latimes.com/business/la-fi-rich-companies24-2010mar24,0,395617.story


Big companies are awash in cash as economy picks up

Some experts say the strength of the largest firms will be key as the recovery strengthens. Others worry that the giants' clout has grown at workers' expense.

3-24-2010
By Tom Petruno

The brutal recession has left many American families, small businesses and state and local governments in financial ruin or teetering on the brink.

But it's a much different story for the nation's biggest companies. Many have emerged from the economy's harrowing downturn loaded with cash, thanks to deep cost-cutting that helped drive unemployment into double digits.

And although the banking crisis starved countless entrepreneurs for money last year, credit was never scarce for business titans.

Corporate America's robust finances have been a boon for the companies' stocks: On Tuesday, the blue-chip Dow Jones industrial average hit its highest level in nearly 18 months, surging 102.94 points, or 1%, to 10,888.83...

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