Democrats in Control - More Hope and Change
This is just wonderful....
KINGSPORT, TN - Just 2 months after slashing spending by $100 million, Eastman Chemical Company announced another round of spending cuts Monday morning in an effort to increase cash flow. As part of the cost cuts, the company plans to cut between 200 and 300 within the next 4 to 6 weeks. Employees will see a base pay reduction of 5%.
Round two of the cuts will slash spending by the Kingsport-based chemical company by another $100 million, bringing Eastman’s expected total cost savings this year to more than $200 million, according to a news release issued early Monday.
Democrats in control since 2007 and the Big O's stimulating stimulus we have this on 3/9/2009:
The Dow Jones industrial average fell 79.89, or 1.2 percent, to 6,547.05.
The Standard & Poor's 500 index fell 6.85, or 1.0 percent, to 676.53.
The Nasdaq composite index fell 25.21, or 2.0 percent, to 1,268.64.
For the year:
The Dow is down 2,229.34, or 25.4 percent.
The S&P is down 226.72, or 25.1 percent.
The Nasdaq is down 308.39, or 19.6 percent.
Hope and Change...Hope and Change...Hope and Change...