Category: New York

Bank of America Slashes 35,000 Jobs in 3 Years

Paul

This one hit me hard in the chest.  I must say this was a big surprise to me and others but it looks like Bank of America is going to cut 30,000 to 35, 000 Jobs in the next 3 Years.   I’ll will quote Huffinton Post:

NEW YORK — Bank of America Corp. said Thursday it expects to cut 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co.

[Via Huffinton Post]

[ad#ad2-right]Now this one will affect the Whole US and some other International in the coming years. It is based on the Economic Stresses we are getting hit with right now. I am saddened and disturbed by how many people have loss there jobs. I have lost count as to how many people have losed their jobs over this economic downward spiral as Jason Calicanis once said. I can only hope that we can get up after this and fix what went wrong in the first place. I also know that it is quite hard to get hired in this day and age. So what is to become of the hard working men and women? Will the Government have to pay for housing for even more people? These are all questions we must answer soon in order to prevent a disastrous depression.

IBM think Apple is Anti-Competitive!

Paul

[ad#ad2-left]In an uprecedented lawsuit, Apple is being sued by IBM due to the fact they have signed an agree with PowerPC chip maker.    According to Engadget:

IBM has filed lawsuits both against Apple in California (a state traditionally indifferent to non-competes) and against Papermaster, PA SEMI is the name of the aquired company, in New York.

[Via Endadget]

Noting Apple’s saying “PA Semi have been competitors since 2006” meaning that they have the right to look for other sources of income.   I have the feeling this will not end anytime soon.  Some analysts are predicting that there will not make any difference either way.   I am wondering why they did this in the first The[ad#ad2-right]place.   Are they wanting to fight Apple?  Are they going to be able to do anything about it?  These are all just questions that I would like to see resolved in the next few weeks.

IBM is sueing because of an Non-compete clause.  clause stems from Mark Papermaster quiting IBM and joinin apple.  They claim that he can’t be a competitor to IBM for at least a year.  Most companies in California don’t bother with that clause because they don’t care about the clause.  Apple is saying this is bogus and notes that the lawsuit might not make it all the way to through th system.  So now only time will tell.