Citigroup to to 11,000 jobs, media blames hurricane Sandy in headline

If you’re up early in the morning and wonder what’s going to be big news in the United States in the morning, one suggestion is to check out the UK Guardian. This morning, they blamed a hurricane for Citigroups plan to lay off 11,000.

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The Caterpillar Flap Continues

It began with a statement by Obama yesterday, when he told reporters that the CEO of Caterpillar would hire back laid off workers as soon as the stimulus passed … and followed with a statement by the CEO of Caterpillar that … well no … he still would likely have to layoff more people. It’s a beautiful thing, from Hannity’s America.


Today ABC’s Jake Tapper followed up on that exchange with Robert Gibbs. Gibbs tries to spin around it. But the Best part comes at the end of this 5 minute exchange when Tapper. Hot Air picks it up so much better than I could.

Yes, it’s Tapper again, mining more comedy gold from that clusterfark of a stimulus “rally” Obama held yesterday at Caterpillar’s plant in Illinois. Sensing his chance to squeeze one measly vote out of the House GOP caucus and thereby sanctify the bill as “bipartisan,” The One tried leaning on new Republican congressman Aaron Schock by putting him on the spot in front of the plant’s employees. Big mistake.

Here’s the Tapper presser:


Heads we lose, Tails they win…

GM has unveiled at least two portions of their recovery plan, submitted to and funded by the

First, the bad news

“General Motors Corp. will cut 10,000 jobs, or 14% of its salaried work force, this year as the auto maker struggles to cope with a steep drop in world-wide vehicle sales.

The job cuts are part of the plan the company submitted to Congress in December to secure bailout funding from the federal government. The company still has a week to submit an update on the restructuring plan’s viability.

Some 3,400 U.S. workers, or 12% of GM’s U.S. salaried work force, will be shed, with the bulk of the cuts happening by May 1. Most of those remaining will see a 3% to 7% pay cut on that date through year’s end, while executives will get a 10% reduction.

So much for the government being interested in creating or even protecting US jobs…

Now, this isn’t saying that it is all bad news over at GM… You tax dollar will be creating jobs… just not around here.

“SAO PAULO — General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to “complete the renovation of the line of products up to 2012.””

Who, exactly, is the government looking to “stimulate.”