Big Picture
We had seen this earlier, but someone commented and we thought we'd point it out:
Global shipping giant A.P. Moeller-Maersk on Friday outlined plans to lay off at least 10,000 staff in a desperate bid to cut costs following a collapse in its third-quarter revenues.
The Danish shipping company announced plans to cut 9% of its entire workforce by the end of next year, by slashing its headcount from 110,000 at the start of 2023 to less than 100,000 in 2024.
Shares in Copenhagen-listed Maersk plunged 9% on Friday having lost 23% of their value over the past 12 months.
Remember, watch what the big companies are doing. They pay big brained people to see and predict the future.
And if that fails, check out the black-helicopter conspiracy people....sometimes they spot weird things, too. There are a couple wars going on and national elections coming soon.
Labels: international news
posted by SCC at 12:05 AM
32 Comments:
Standard corporate end of year bloodletting... Blame whatever economic situation is occurring, and claim to get rid of 10% of the workforce, which consists of assholes you wanted to get rid of anyway...
Anyone remember OfficeSpace? "What would you say you do here?"... 'ummm, I'm a people person! I deal with people!'
And then after you're through the first 5% of totally worthless slugs, a couple of 'on the margins' types see the writing on the wall and snap back into shape... so maybe it's 10%, maybe not.
For those in the short bus?
Companies stop shipping their products to customers when they stop making new products. They also stop shipping raw materials to themselves when they stop producing products.
That means companies think they are going to make less, and that means companies need fewer employees. It's called a RECESSION. Hopefully not a Depression too.
Not an isolated story:
https://www.cnbc.com/amp/2023/10/19/bezos-backed-freight-firm-convoy-shuts-down-read-ceo-memo-here.html
https://www.cnbc.com/amp/2023/11/02/freight-recession-is-at-a-new-tipping-point-says-ubers-shipping-ceo.html
Everyone in the shipping business is cutting back suddenly. Expect a recession in six months or less. Make your plans now.
It's going to get really ugly in the city if this turns into a bad recession.
If the economy tanks? The August 2024 DNC Convention is going to be fiery!
More of that Building it back better BS. Fuck you democRats
CEO Jamie Dimon just sold one million shares of his stock in JP Morgan Chase, one of the largest if not the largest banks in the world. First time he sold stock in almost 20 years. What does that tell you?
Maybe some financial problems are set to befall western nations.
It can be very difficult and expensive to insure cargo vessels during wartime.
Lots of possibilities.
Get ready problems. That Bidenocomics is about to bite us in the ass. SLO Joe will have us in a war soon question is will we be fighting on three fronts, China, Iran and Russia. No Allie’s will be rushing into help since they do not trust Biden. Our Woke military il find out very quickly that the bad guys play by a different set of rules. Collateral damage is accepted and a part of war. In fact collateral damage is what forces countries to sue for peace.
The destruction of the USA is deliberate. Open borders, shutting down our oil pipelines and refineries, pandemic lockdowns, targeting and defunding the police, letting violent criminals take over the cities and burning through taxpayer money like Boo-Boo The Fool. We're not voting our way out of this...
Absolutely; the big companies have a better perception on what’s happening. Biden economics is screwing up the economy.
BadTouchJoeenomics.
Now, kees me you fool!!!!
This is bad those are good jobs, with great pay and benefits things are slowing down, that is alot of people! Maybe more will apply to CPD as we have a steady check, great benefits the pay is good and the job has been made easier due to all the rules! But then again we have some coppers that definitely do not belong,as they are lazy hmm wait a minute jb wants to hire them as police the illegals that could be interesting!
I don't think that the Chinse communists are shipping as much to the US anymore. I go to Walmart, and the shelves are sometimes threadbare. Since Covid, our supply chain seems to have suffered. Our workforce has dwindled for sure.
They were out and I mean "out" of coffee a little over a year ago for about a month. I grant you that some coffee is at least roasted and distributed here, but it does originate in countries that have cheaper labor forces.
Other items as well. Like one day last week they were completely out of bananas. Its a small thing but I have never seen that before. Other products like picture frames, and office supplies, and common health care items also seem to be very low in stock.
All of this cheap Chinese crap we have become so used to consuming come on a freight ship.
I am just making observations here, not endorsing a conspiracy...but WTF?
A leading indicator of future stock market direction is the Dow Jones Transportation Index. ($DJT)
Why? Because products are shipped/transported from the producer to the consumer. And when people are buying less product the transports are shipping less. That leads to lower revenues/earnings which leads to lower stock prices.
Pay attention to the roads/highways. Do you see less traffic? Less semi-trucks? Does weekday commutes to work during what is normal business hours take less time? If so, why? Less trucks on the road.
Bigger picture, EMP attack
https://rumble.com/v3trsh1-tucker-carlson-believes-there-will-be-an-emp-attack-on-the-united-states.html
Time to hang the Commies...
Inquiring minds would like to know how many of the new filings for unemployment are the results of illegal immigrants taking jobs away and then being paid under the table by employers?
Unemployment claims in Illinois increased last week
The State Journal-Register|7 hours ago
Initial filings for unemployment benefits in Illinois rose last week compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, increased to 9,066 in the week ending October 28, up from 8,624 the week before, the Labor Department said.
AI is going to do all the meaningful jobs soon. No such thing as the bullshit immigrants are needed to do jobs Americans do not want to do.
Of course this creates a huge social issue what is your lives meaning without meaningful work? Lie around on the police district floor all day collecting your universal basic income.
TO quote a line from the movie "Raising Arizona"
"You're young and got your health, what you want with a job?"
A leading indicator of the economy is energy. The world runs on diesel, natural gas and electricity. NONE of our heavy equipment runs on electricity tho. Farm tractors, semi's, infrastructure repair equip for roads/buildings, cranes, dozers, etc... not electric
Under the Green New Deal Building Back Better to save the planet we are digging up 227 metric tons of earth in order to get 150 lbs lithium to make one battery for an EV.
and that is what is labeled as "renewable energy" Think it's sustainable?
Liberal extremist are not just destroying the economy via energy restrictions. they are destroying our culture that binds us together using their illegal immigration open borders humanitarian bullshit.
Illegal immigrants are NOT assimilating to our way of lives our core values. Look at NYC the illegals now have their own Bill Of Rights what kind of fucking bullshit is that~?
US Rep. Jackson calls for rest of state to step up help with migrants
YAHOO!News|18 hours ago
U.S. Rep. Jonathan Jackson called for the rest of Illinois to step up and help with Chicago's migrant crisis during a South Shore town hall on Sunday.
Jonathan CAN KISS MY ASS,
They wanna be out of the way when china attacks Taiwan
Time is running out...if China wants to takeover Taiwan while dementia joe is still in office they better hurry. Joe already has us bogged down in two wars now is the best time for China to step up
Strategic oil stockpile depleted
Military arms stockpile all sold out to Ukraine and Israel
Woke US Military so weak and pathetic all our enemy has to do is mis-gender the troops and they will lose their shit
Illinois solution to Rahm Emanuel shutting down all those mental health clinics
Psychedelics Reform In California, Wisconsin, Illinois, Massachusetts & Pennsylvania
Illinois: Introduced SB 2612 or the Illinois Compassionate Use and Research of Entheogens (CURE) Act seeks to establish a state psilocybin advisory board within the Public Health Dept., to eventually start receiving licensing applications for manufacturing and testing of psilocybin products, operating service centers or facilitating psilocybin services. It would further create a “Psilocybin Control and Regulation Fund” and “the Illinois Psilocybin Fund,” making conforming changes in the State Finance Act and further requiring the Agriculture Dept., the Liquor Control Commission, and the Revenue Dept. to perform specified duties. It’s been referred to the Assignments Committee since its introduction, where it currently stands.
https://www.msn.com/en-us/money/other/psychedelics-reform-in-california-wisconsin-illinois-massachusetts-pennsylvania/ar-AA1jqwSj
If you bought an all-electric car in the last 90 days, you can now apply for a rebate. The Illinois EPA is offering up to $4,000 for consumers of EV passenger cars and $1,500 for anyone who bought an EV motorcycle.
Applications are open now through the end of January, as long as the money is available. State lawmakers approved $12 million for the program this year.
And if your only way to charge the battery is by a public fast charger good luck with that..and all the money you thought you had saved on gas will go towards a new $20,000 battery replacement after just 100,000 miles, Don't fall for the battery warranty hype of 8 years when you use a fast charger you will be told that's normal wear and tear not covered.
Not to mention the lifetime spent sitting at a chicago high crime transitional space waiting for the battery to charge.
https://open.substack.com/pub/coffeeandcovid/p/one-year-monday-november-6-2023-c?r=14wajd&utm_campaign=post&utm_medium=email
The democratic socialists only measure of successes is from our thug mayor to Springfield's Porky Pig, to dementia joe are devolution, deception, denial, desperation, destruction, chaos and fear. Just think that 81 million people voted for their own nationalistic demise and equally important, the local dummies voted for the gangsta thug mayor. Enjoy living in your own swill, you deserve it.
LMAO EV battery range exaggerated by EPA by at least 20 %... all for at least $50,000 a vehicle
Credit unions won't give loans for EVs knowing if the battery is gone so is the value of The EV
Anonymous said...
AI is going to do all the meaningful jobs soon. No such thing as the bullshit immigrants are needed to do jobs Americans do not want to do.
Not according to chuckey Schumer
https://illinoisfamily.org/life/chuck-schumer-laments-lack-of-workers-calls-for-amnesty-for-illegal-immigrants/
11/06/2023 08:16:00 AM -
Drive along the Stevenson (I-55 in Chicago) and I-55 further down south of I-80.
It is full of trucks at all hours
Full of trucks!
11/06/2023 06:00:00 PM -
Add in a cold Chicago winter and that EV range is further depleted.
I'd like to know what happens when the bottom of that battery comes in contact with cold snow that accumulates in the middle of Chicago roadways after a significant snow. What happens then?
The economy is crashing. Banks are insolvent due to interest rates. CRE is a shambles.
Consumers are swamped in debt and defaulting. Inflation is crushing the middle class.
Hard times are right around the corner.
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