Tuesday, September 18, 2012

QE to infinity - get those printers humming if significant job improvement is the metric to key off


FED’S EVANS: DIRECT ASSET PURCHASES TO CONTINUE UNTIL ‘SIGNIFICANT IMPROVEMENT’ IN LABOR MARKET- I.E FOREVER!

SEPTEMBER 18, 2012 BY  4 COMMENTS
Fed Governor Charles Evans just re-emphasized the TO INFINITY….AND BEYOND!!! reality of QE∞, stating in a speech in Ann Arbor, MI this morning that the Fed will continue to purchase assets until there was significant improvement in the labor market.
Evans also stated that the Fed is not out of options and could do more asset purchases, and the Fed is willing to tolerate inflation above 2%!!
Gold and silver apparently received the message by spiking vertically, (although they have since been smashed down to pre-pop levels)
Got Phyzz? [Read more...]

on that point , note the following items.....

http://seattletimes.com/html/nationworld/2019187163_apusalphalayoffs.html

Coal producer Alpha Natural Resources said Tuesday it was cutting production by 16 million tons and eliminating 1,200 jobs companywide, laying off 400 workers immediately by closing mines in Virginia, West Virginia and Pennsylvania.
The mine shutdowns start Tuesday, while the rest of the layoffs will be completed by the end of the first quarter after Alpha fulfills current sales obligations, Chief Executive Officer Kevin Crutchfield said. In all, the layoffs amount to nearly a tenth of Alpha's 13,000-person workforce.
Alpha said it was closing four mines in West Virginia, three in Virginia and one in Pennsylvania. They are a mix of deep and surface mines, and all are non-union operations.
Company spokesman Ted Pile said most of the displaced workers may eventually be rehired, either assigned to new jobs in other locations or replacing outside contractors. Only 150 workers in West Virginia and three in Pennsylvania will not have any other employment opportunities with the company, he said.
Though some miners will stay on to seal the operations, most will either be reassigned or laid off immediately.
Support positions will also be cut proportionally as Alpha reduces its operating regions from four to two, Crutchfield said, and two executives will retire Nov. 1.
It wasn't immediately what other states would be affected by the still looming layoffs.
Crutchfield said the shutdowns and layoffs are a necessary part of ensuring Alpha survives in what has become a difficult U.S. market, where coal companies face a dual challenge: Power plants are shifting to cheap, abundant natural gas, while companies like his face "a regulatory environment that's aggressively aimed at constraining the use of coal."
The affected West Virginia operations are the Alloy deep mine near Powellton, the Alloy surface mine near Boomer, the Premium highwall mine near Gilbert and the White Flame Surface Mine near Wharncliffe. The Virginia mines are Guest Mountain deep mines No. 8 and No. 9 near Norton, and the Twin Star Surface Mine near Hurley. In Pennsylvania, Alpha will close its Dora deep mine in Jefferson County.
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September 18 , 2012

September 17 , 2012
American Eagle in Miami - Warns of 146 Layoffs in Miami
Targacept Inc. - Layoffs Expected
Gen-Probe - up to 75


September 15 , 2012
Northwest Community Healthcare - 110
Alorica in Cutler Bay - 127
Genesee County MI - 12 Paramedic 
Newmont Gold in Elko Nev - Some Layoffs
Newton Energy Mine in Comfort - 116
City of Tacoma - May Cut 200 City Jobs
Patriot Coal Corp. - Cuts More Output, Jobs
BMO Harris Bank - 37 in Cedarburg
Liberty Medical Port St Lucie - 100


September 14 , 2012
Best Buy - 2,000
Express Script Holding - 283
Automotive Component Carrier - Some Layoffs

September 13 , 2012
Washington State Community College - Layoffs Expected
Moore Capital Management LLC - 10 to 15
The main contractor at Tobyhanna Army Depot - 75
Madison-based Capital Newspapers - 26
Update: Life & Specialty Ventures - 21 Positions
Manitowoc Cranes - Confirms 20 Layoffs, or Soon Layoffs
BAE Systems in San Francisco - 95
Fremont-Rideout Health Group - 44



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