Profits on the backs of American workers?

[pippin]

In today's LA Times Business section there is this story:

Gateway Shares Surge on Cuts
Shares of Gateway Inc. rose 12% on Friday, one day after the manufacturer of personal computers said it would close all of its retail stores and fire 2,500 employees.

http://www.latimes.com/business/printedition/

How does this mesh with another article claiming that

Bush Hopes for Bounce off Employment News
By Mark Z. Barabak and Maura Reynolds
The creation of 300,000 jobs in March could undermine Democrats' criticism.

http://www.democraticunderground.com/discuss/duboard.php?az=post&forum=104

Totally baffled. :crazy:

[Deja Q]

1. 300,000 jobs of what type? And Gateway?!

Good paying jobs? I doubt it. I see a lot of help wanted signs from big-name chain stores...

Gateway closing all of its stores? You'd think their stock would PLUMMET! Gateway is showing it's not reliable as a business. Besides, do stocks go up when a corporation declares bankruptcy? Gateway only makes crap anyway...

Sad.

[Redleg]

2. Yes indeed- the Republican form of wealth redistribution-

from workers to the owners. By the way, there are a few good posts at this forum discussing the numbers behind the 308.000 "new jobs" in March.

[Buns_of_Fire]

3. Gateway could declare bankruptcy, completely liquidate,

throw ALL their employees out of work (preferably by shooting them, so the company won't take a hit against their unemployment compensation)... and the Wall Street analysts would push up their stock 75% (at least). Such is the perverse nature of the stock market operating under what can only charitibly be called predatory capitalism. Fewer employees = less of a hit on the bottom line = higher dividends (Wall Street = Happy Happy Fun Fun time! :bounce:) and more company-sucking executive bonuses and perks (Wall Street = So What? :shrug:). When your god is the quarterly P&L statement, not much else matters.

When companies like Costco get criticized (see http://www.factoryofinfinitebliss.com/archives/000221.html ) because they treat their employees too well, you know something is seriously askew...

[F.Gordon]

4. This wasn't 300,000 new "jobs"

It was 300,000 more "paychecks". Many of these "jobs" were already there....people were just going back on the "payroll".

What a steaming crock of horseshit!!