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...Earlier this month, the government announced that it planned to quickly inject $125 billion of the $700 billion economic rescue package into nine of the nation's largest financial firms, including Wall Street titans Goldman Sachs and Morgan Stanley, as well as Bank of America, which recently acquired securities firm Merrill Lynch. That, along with other Treasury Department moves to rescue Wall Street, will mean the wallets of many investment bankers will be fatter than they would have been...
...workers, from its payrolls. Barclays is expected to eliminate 3,000 jobs from the former investment-banking division of Lehman Brothers, which it acquired in September. And Merrill Lynch's John Thain recently said that he expects thousands of job cuts in the wake of his firm's acquisition. All told, Hintz expects Wall Street employment to fall 25%, which could mean a loss of 43,250 jobs in New York City alone and more than 200,000 jobs nationwide...
...people are appearing at the door on the off chance that an in-person cold call will quickly lead to work in an area hard hit by rising unemployment. "All of a sudden in 2008, people are just coming in blindly," says Kerry Tracey, founder and president of the firm. "From brick layers and carpenters to attorneys...
...less than the jobs they held before the layoffs. Others reveal a growing sense of fear simply in their voices when talking on the phone with Tracey, who says that most people eventually find some kind of employment. "It's not completely a black hole here," says Tracey, whose firm has a database of about 1,000 job seekers. "It's just taking a long time, even for the best people...
...senior citizens who filled the audience during the meeting. Mark R. Finucane, a health science advisor who has been working with CHA said the Alliance would try to maintain its commitment to underprivileged populations by preserving the most utilized programs. Earlier this year, CHA hired Finucane and the firm Ernst and Young to create a strategic plan that would address its financial problems. But progress on that plan was “scrambled” when the state announced the additional cuts, Finucane said. There will be a community meeting on Nov. 6 to allow residents to comment...