Posts Tagged ‘layoff’
USPS BANKRUPT MASSIVE LAYOFFS BAILOUT
U.S. Postal Service Near Default – Chapter 11 Bankruptcy
The U.S. Postal Service does not have the money to meet an obligation to a retiree health care trust fund coming due at the end of the month, but if there’s a default, officials promise no interruption in the mail, the payroll, or payments to suppliers.
Commenting in response to a New York Times article Monday suggesting the Postal Service may have to shut down within months, spokeswoman Yvonne Yoerger told CNN there’s “nothing actually new in the Postal Service’s position.”
“We are required to make this $5.5 billion dollar payment into the future retiree health benefits fund, and probably won’t be able to make it when it comes due September 30th.”
The fund was mandated by a 2006 postal reform act that postal officials today believe does not match the reality of declining revenues and a smaller workforce. Tuesday, congressional lawmakers will address the matter in a hearing on postal operations.
Yoerger said at that hearing, Postmaster General Patrick Donahoe will insist that the fund be re-scaled from the days when there were 900,000 people on the payroll. The mandated funding level has not changed in the years since then, although the Postal Service has trimmed 250,000 jobs.
She said “the fact is, no other government agency, and few corporations in the private sector are required to fund retiree health benefits 75 years out.”
The newspaper quoted U.S. Sen. Thomas Carper, D-Delaware, as saying the financial problems are so dire the Postal Service may close later this year.
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Chrysler Corporation Announces Bankruptcy filing..Bill Palte…http://www.MLMintegrityMarketing.com
Chrysler Corporation announces Bankruptcy filing..Bill Palte
http://www.MLMintegrityMarketing.com/?t=YTCC
Chrysler Corp. announced recently that it had filed for Chapter 11 bankruptcy protection. This is a going concern along with the possible purchase by the French automaker Fiat. With the bankruptcy, Chrysler plans to emerge within 30 60 days as a stronger, but leaner company. The plans are to close up to 9 facilities and reduce the models produced to 4 or 5. Thousands of employees are affected by this plan. Chrysler has stated that they will try to accommodate as many employees as possible in the existing facilities including possible transfers instead of laying off the employees.
Now I dont know about you, but moving to a different state to take a job with a company that just emerged from bankruptcy, presuming the company will survive, doesnt sound like a good plan to me. I can see many potential downfalls, including moving a family, trying to sell a house, etc., etc. The alternative is to find a way to support yourself until a new job appears, if it does.
Of the options, which arent many, is to start a business from scratch, buy a franchise, or get into an MLM. Each of these has huge risks, since 90% of all new businesses fail within 5 years. Starting from scratch requires money, a startup plan, advertising, accounting, etc. Not a good option without a large amount of experience and know how. The franchise is the same requirements plus a large outlay of cash to purchase the rights to the business. An MLM costs considerably less to start, but few people know how to advertise effectively to build the business.
My alternative is much simpler. I can teach you HOW to market ANY business so you can be successful. Its not difficult with the training and tools that we have assembled for your education. It just takes a little time and a little money. Then you have to apply yourself to the training, follow our instructions, and you can have a profitable business very quickly. Yes, it is YOUR business. Exactly what the business does isnt a big issue, since our training works for many different industries.
Check us out at: http://www.MLMintegrityMarketing.com/?t=YTCC
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