JP Morgan Chase…
JP Morgan slashes 10% of it investment banking staff (JPMorgan cuts investment banking jobs: sources; Reuters).
3,000 gone which means only 26,000 need to be axed before they have trimmed down to an acceptable level. JPM is under pressure as even the biggest idiots in the business understand that the decade long desperate attempt to create an illusion of professionalism busted and the truth starts to surface (JPMorgan shares tumble on bank woes; AP).
Maybe the Septic Tank and the International will construct another fire sale…
AIG…
It does not matter how much money you through at a fire…it will keep on burning…it is just sad that there seems to be a severe lack of any intelligence among those who approach that fire (China fund in talks for stake in AIG unit: report; Reuters).
They seem to think that the more money you throw at the fire the quicker it will be extinct but fail to realize that the money fuels the fire…
GE...
Right, they don’t seek to raise money from sovereign wealth funds a la $15 Billion October Misstep but they do seek partnerships (GE says not seeking sovereign-wealth investment; Reuters).
Maybe GE is too proud right now to admit that they face more severe problems than they want to admit...
GM...
Member of Detroit’s Pathetic Three (Detroit’s Pathetic Three…; The Path to the Pegasus Letter) continues its desperate attempts to decrease their cash-burn rate (GM to extend holiday shutdown, will cut production; AP).
It is time for GM to fail since they have been allowed to be a drag on the economy far too long…but the socialists which now want to unite behind BHO will do whatever they can to ensure more failure in the future (Obama low key but active in auto rescue talks; AP).
GM deserves to fail as failure is the only cure to the problem…
Delta...
Delta plans to continue to trim down in order to reflect the dwindling demand for domestic as well as international travel (Delta to trim future US, international capacity; AP).
Delta, after years of management missteps, at least attempts to remain ahead of the curve…
Goldman Sachs...
Since it is not a big secret that GS is not what it wants you to believe it is they continue to make obvious statements several months after facts have surfaced (Goldman cuts U.S. growth forecast; Reuters).
Oh well, no intelligent individual pas attention to GS anyways…
Recessions causes professionalism and sophistication to surface and separates success from failure!
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