Category: vest

Citigroup bank might be saved through the recession.

Paul

According to reports from ABC News, Citibank is having a hard time and might need to be assisted by the government.

[ad#ad2-right]The company has seen its shares lose 60 percent of their value in the past week, reflecting a crisis of confidence among skittish investors. They are worried all the risky debt on Citigroup’s balance sheet will turn into losses as the economy worsens and the markets stay turbulent — losses that could be nearly impossible to reverse.


[via ABC News]

Although this is somewhat expected, I don’t think we can afford to pay the debt of a bank.  We are all having to deal with this recession.   I don’t know how they can afford to pay for Citigroup and expect this to help bolster the economy.   I guess only time will tell!!!

Fidelelity to Lay off more than 4000 people in 2008.

Paul

Fidelity Investments acknowledged yesterday it is studying cost cutting but declined to comment on an industry report that it plans to lay off up to 4,000 employees as plunging stock markets cut into the value of its mutual funds business.

[via Boston.com]

Now this is another example of all the layoffs that are coming due to the recession. If you want to find out all the other layoffs that I have found just search my site. There are far to many for me to list now. I am not happy with what seems to be and down ward spiral.

Whatever happened to that One Red Paper clip?

Paul

Kyle MacDonald: “One Red Paper Clip”

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What did happen to that One Red Paper Clip?  We know Kyle MacDonld traded that paper clip for something more valuable and sooner or later it got all the way to a house?  So he’s trying to sell this house of his.  Here’s the quote:

“We’d like to trade the house because it’s kinda sitting empty most of the time, and it’d be great if somebody was in there!” As to his barter options, MacDonald is playing his cards close to the vest. He will reveal only that he has received 300 offers so far. “I’m keeping them all a secret until I make my decision who to trade with,” he says.

[Via PC World]

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So what did happen to that Red paper clip?  I hope it didn’t get thrown away or stomped on?  Will we ever know.  I doubt it.