Thursday, January 29, 2009

More Business Woes: Boeing and Starbucks Make More Cuts

With demand for commercial jets losing altitude, Boeing has reported a $56 million net loss for the fourth quarter of 2008. This forces them to increase their recent estimate of 4,500 jobs to cut to an astounding 10,000.

In addition, Starbucks who just closed 600+ stores last year, has to close another 300 stores and cut nearly 7,000 workers as it continues to stagger from overexpansion and a sharp sales slowdown.

Drinking coffee on airplanes may soon be a thing of the past. In the words of Captain Scully: "Brace for impact."

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