I wonder if The Star Business Section is still talking resiliency . . . I stopped reading them awhile ago, mostly because they're irrelevant.
Still, a very well informed source just told TKC that layoffs are coming soon at Kansas City's beloved H&R Block!!!
Without a doubt just about every aspect of life in this cowtown is going to be hit hard by a global economic recession.
Here's the most gloomy and appropriate bit of financial news I came across today:
"Stocks plunged in Germany, Hong Kong, India and Brazil, and U.S. index futures dropped on mounting speculation that the global economy is slowing and company defaults will rise."
Wow! This sounds like a perfect time to open a luxury shopping district!!! I can't wait for Electric Avenue and I'm anxious to see the development before it is summarily boarded shut.
But it gets worse, Kansas City is still on the hook for P&L District bonds no matter what the fate of the luxury shopping and restaurant district. Meanwhile folks in Kansas City are going to be lucky to keep their jobs, never mind the much touted prospect of a downtown renaissance fueled by JoCo folks spending extravagantly far from home.
Worse still, everybody expects a bit of a stock market crash and an official bear market sometime before the end of the week and maybe as soon as the opening of US markets tomorrow.
Stay warm Kansas City!!!
UPDATE on Tuesday 3:35, almost a full day after this post was first published: Heh, turns out TKC was right once again. Natch. A special thanks to TKC Tipsters!!!
H&R Block warns of job cuts
I saw on the news that those markets havent dropped that much since 9/11. I know little to nothing about stock markets, but it doesnt sound good or bode well according to the analyst on the news.
ReplyDeleteWith all the local layoffs, Funk had better get any convention to KC that he can. I don't care who's ass he needs to kiss. I don't want another tax increase to pay off downtown.
ReplyDeletehttp://www.youtube.com/watch?v=_AKwCMmvI_U
ReplyDeletenot till after tax season
ReplyDeleteFor someone who doesn't read The Star, because it's irrelevant, you sure link to them a whole lot. Boy you sure were right about all the Cerner layoffs...and the mayor recall...and oh, the empty arena...you're about 0 for 5,000, joto.
ReplyDeleteThe Layoffs at H&R Block are real. Like him or not Tony had them first. Read about them in the Star later.
ReplyDeleteSorry.
BR Laid off 16+ today.
ReplyDelete