9 more major retailers are closing more stores (Dah! It's the economy stupid!)
- Abercrombie & Fitch 180 stores
- Barnes & Noble (a third of its stores)
- Aeropostale 175 stores
- J.C. Penney’s 33 stores
- Office Depot 15 stores
- RadioShack 1,100 stores
- Sears 300 stores (so far)
- Staples 225 stores
- Toys “R” Us 100 stores
We currently have historically low "churn" in the job market because people are too afraid to quit their jobs, no matter how little they make or much they hate their job—because the job market is so damn piss poor.
But yet, here's another "feel good" story from AOL about a woman named Marci was laid off 3 times in the last two years and found herself unemployed again. Eventually an old "colleague" hired her, but AOL says it wasn't luck.
"Some might say Marci finding this job was a stroke of luck. Not true! Had she not proactively contacted that colleague and presented herself as a true professional, the discussion would have never turned into talks around Marci as a potential hire."
But check this out: since that article was written, AOL has just announced yet another round of layoffs affecting a “double digit” number of employees. (Just Google "layoffs" in Google news for more headlines on layoffs. One hospital is laying off 600 doctors and nurses).
So what have the "job creators" been doing? Sprint bestowed upon its CEO $49 million in 2013 as a reward for being a "job creator". The company is planning to shear at least 300 jobs the first half of 2014, after over 1,000 job cuts last year. Sprint's CEO will also be paying a lower tax rate than the people he fired.
According to a poll, 61 percent of the world’s richest people say personal finances is the “most difficult subject” to discuss. The poll results suggest “some degree of misplaced guilt or embarrassment surrounding money by those who have accumulated it.”
Another "job creator", the NFL's Indianapolis Colts owner Jim Irsay, faces four felony counts after being arrested late Sunday night. He was arrested for operating a vehicle while intoxicated (DUI) and possession of a controlled substance (illegal drugs). His bond was set at $22,500 (Just pennies for a billionaire...it's just like you or I paying a penny). It's a good thing the NFL gets tax exempt status.
In 2011, one of the biggest "job creators", Alice Walton (of Walmart), was arrested in Texas for driving while intoxicated on Interstate 20 in Weatherford, Texas after celebrating at a bar for her 62nd birthday. She had been released on a $1,000 bond. Two years later prosecutors dropped the charges against her because the highway patrol officer who pulled her over had been suspended and couldn't testify (I guess a blood test wasn't enough to convict --- she could have waited him out until he passed away too). The Texas DWI arrest was expunged from her record (even though she was once suspected of driving drunk and manslaughter when she ran down and killed a woman with her Porsche.)
The U.S. had 6.7 million millionaires in 2008. Now we have 9.6 million, for a net gain of 2.9 more millionaires (aka "job creators") since the economy tanked. Meaning, it cost us 3.4 jobs (10 million unemployed Americans) to create every one millionaire "job creator" (not counting all the middle-class jobs that became low-paying and/or part-time jobs.)
The Supreme Court will rule on a settlement that could include back pay for as many as 500,000 workers at Amazon warehouses. Evidently this "job creator" felt they over-paid their employees.
Thanks to the "job creators", we all might be doomed: NASA Study: Civilization Headed for Collapse