Great Depression 2 by 2011

1. America's credit rating may soon be downgraded below AAA
2. Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"
3. Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse
4. King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
5. Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year
6. AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers
7. American Express joins Goldman, Morgan as bank holding firms, looking for Fed money
8. Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
9. State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt
10. State, municipal, corporate pensions lost hundreds of billions on derivative swaps
11. Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up
12. Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
13. Fed also plans to provide billions to $3.6 trillion money-market fund industry
14. Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars
15. Washington manipulating data: War not $600 billion but estimates actually $3 trillion
16. Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs
17. Commodities down, resource exporters and currencies dropping, triggering a global meltdown
18. Big three automakers near bankruptcy; unions, workers, retirees will suffer
19. Corporate bond market, both junk and top-rated, slumps more than 25%
20. Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall
21. Unemployment heading toward 8% plus; more 1930's photos of soup lines
22. Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists
23. China's sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai
24. Despite global recession, U.S. trade deficit continues, now at $650 billion
25. The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities
26. Now 46 million uninsured as medical, drug costs explode
27. New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt
28. Outgoing leaders handicapping new administration with huge liabilities
29. The "antitaxes" message is a new bubble, a new version of the American
    dream offering a free lunch, no sacrifices, exposing us to more false promises

LAYOFF'S

Banking giant announces huge layoff plan as it seeks to cut expenses by about 20%. Biggest single job-cut plan since IBM announced 60,000 job cuts in 1993.

J.P. Morgan would mean 3,000 dismissals globally

BT Group the U.K. telecom major, said late last week that it would pare 10,000 staffers

Fidelity Investments, the No. 1 global mutual-fund manager, plans to shed 1,700 more jobs in the first quarter, after a separate move earlier last week to cut 1,300

Goldman Sachs planning to pare about 10% of their workforce

AVT Natural Products Ltd, a part of the AV Thomas plantations group, has entered into a critical global strategic and exclusive supply-purchase pact with the US-based Kemin Health L. C. Des Moines, a privately-owned nutritional ingredient marketer and manufacturer.

National Thermal Power Corporation (NTPC), India's largest power company with almost 30 per cent share of power generation, is planning to diversify into cement manufacturing.

The Indian SUV specialist Mahindra & Mahindra Ltd. (M&M), has planned to sign a Memorandum Of Understanding (MOU) with Renault India for distribution of all its products in the country.

The new and latest Seagate’s Savvio 15K.2 HDD is the world’s greenest and fastest drive, claims the company

Siemens Ltd has announced that its industrial solutions division has secured a significant order worth Rs 175 crore from Steel Authority of India Ltd (SAIL) for expansion and modernization of Bokaro Steel Plant at Jharkhand.

Zydus Cadila, a leading India based healthcare company, announced that it has acquired Italy-based Etna Biotech, a wholly owned arm of Dutch Biopharma company, Crucell NV.

Mumbai-based drug company, Elder Pharmaceuticals Ltd, has signed an agreement with Japan based Daiwa Pharmaceuticals Co Ltd, to sell its products in Indian market.

The retail business wing of Mukesh Ambani's Reliance Industries, Reliance Retail has revealed that it would set up 55 stores for home appliances and electronic goods across the country over the next two years.

Religare, an integrated financial services provider, has announced that it has teamed up with private lender Karur Vysya Bank, to offer its (Religare’s) equity trading services to the bank's clientele.

Japan mobile giant, NTT DoCoMo to enter in highly potential mobile market of India, The mobile operator has decided to pick 26 per cent stakes in TATA Teleservices to start journey of growth in communication field of India. DoCoMo will pick 20% in TTSL through subscription of fresh shares and 6% from existing shareholders. The company announced to pay Rs.13,070 crore for 26 per cent stakes.

Anil Ambani owned Reliance Infrastructure has made announcement that the company gears up to expand its engineering and construction business in India by getting into construction of steel plants through a Chinese link-up.

Delphi, a maker of mobile electronics, transportation components, and systems technology, has made announcement that the company envisages to build electronics components manufacturing facility with an investment of Rs 2.50 billion at Oragadam, near Chennai.

Dell had planned to unveil a MP3 player this year that could potentially compete with Apple's iconic iPod line and Microsoft's struggling Zune player. DELL DROPPED PLANS TO LAUNCH MP3 PLAYER.

America’s largest network, Alltel Wireless and LG have jointly rolled out a fast and easy-to-use, LG Swift phone in the US market. With it unparalleled features, the phone stands apart from others.

Saudi Arabia headquartered Zamil Steel, has announced that it has rolled out its operations in India. According to the sources, the company has opened its first manufacturing facility at Ranjangaon near Pune.

Luminous Teleinfra, an arm of SAR Group, has announced that it is searching the options to set up manufacturing facility in Himachal Pradesh (HP) with an investment of Rs 150 crore for producing telecom batteries, power management units and conversion devices.

The ONGC Videsh (OVL), part of Oil and Natural Gas Corporation (ONGC) India, along with partner IRP Red Sea Inc have discovered oil in an offshore block in Egypt for the second time. The company had discovered oil in April 2007 off the North Ramadan Concession in Gulf of Suez.

Technology giant LG has rolled out its latest LCD Monitor, named ‘LG W1941S’ in the Indian market.

Asklaila, a local information service, has informed that it has teamed up with private telecom service provider, Airtel to power all its city search services.

United Spirits (USL) the flagship conglomerate of Vijay Mallya, chairman of Kingfisher Airlines has announced that it is in discussions with the world’s major drinks company, Diageo, for a tie up including a minority stake sale.

Real estate major Unitech has put on the block all its six hotel projects under construction to reduce its capital expenditure and raise cash to fund its other ongoing projects .The company is in talks with a few private equity (PE) investors to sell all its six properties, being constructed at Gurgaon and Kolkata. It is planning to divest up to 100% stake in all six properties, comprising 1,000 rooms.

Pawan Ruia-controlled Dunlop India, on Monday, November 17 called off production at its already ailing unit Shahgunj mother plant in West Bengal on account of global meltdown

GVK Power and Infrastructure (GVKPIL), an arm of the GVK group, has plans to sell 25% stake in its energy business

Pantaloon Retail India, a part of Kishore Biyani led Future Group today, announced that it had sold its entire stake in Alpha Future Airport Retail to Alpha Overseas Holdings. Alpha Future Airport Retail was a 50:50 joint venture company between Pantaloon Retail India and the Alpha Group.

Parsvnath Developers, India`s leading infrastructure and real estate developer, has announced a joint venture (JV) with Constructora SAN JOSE, a subsidiary of Grupo SAN HOSE, a leading infrastructure company in Spain.


Suzlon Energy will buy the 22.48% stake in Germany-based REpower through a combination of cash and debt. The acquisition will be completed by May next year,

Kingfisher Airlines has benched 50 trainee co-pilots asking them to stay at home till further orders. The company has offered them a monthly stipend of Rs 20,000 against their take-home salary of up to Rs 1 lakh,

The United States Food and Drugs Administration (USFDA) will have a full-fledged office in New Delhi by September 2009

HSBC Holdings aims to cut down 500 jobs in Asia due to the global economic fall .The reduction will be made in various parts of the business, including back office functions, with about 450 jobs in Hong Kong to be shed. In September, the bank announced 1,100 job cuts worldwide in the wake of the financial turmoil.


Mundra Port and Special Economcic Zone, part of the Adani group today, Tuesday, announced that the company had signed a Memorandum of Understanding (MoU) with Nippon Yusen Kaisha (NYK) of Japan and Wallenius Wilhelmsen Lines of Norway.

Geojit Financial Services and Saudi Arabia based Al Johar group joint venture company Aloula Geojit Brokerage Company executed it`s first trade in TADAWUL, the Saudi Stock Exchange on Nov. 10, 08. The total equity market capitalization in TADAWUL at the end of October 2008 was USD 290.09 billion


Tata Consultancy Services (TCS) a leading IT services, business solutions and outsourcing organization, on Nov. 18, 2008, announced the inauguration of its latest global delivery center in Tianjin. The 300-seat delivery center at Tianjin is TCS China`s fourth global delivery center in China after Beijing, Shanghai and Hangzhou


Bharat Heavy Electricals (BHEL) has won a major contract for the supply and installation of the main plant package at a power project in Andhra Pradesh, Valued at Rs 13.25 billion,