Word: losely
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...population is out of work. The February number was based on 651,000 people being pushed out of their jobs during the month. With the March jobs report only a few days away, the debate is whether the rate at which the economy is causing people to lose work will stay on a 600,000 to 700,000 pace or whether the job loss is slowing and whether the U.S. will avoid a nationwide unemployment rate...
...half a month. But, news that GM (GM) or Chrysler might go bankrupt and that large American banks may need more government money pushed stocks down again. In a very short period of time, investors have begun to doubt whether there is a good chance that the recession will lose steam before the end of this year. The month which began with optimism is not closing out that way. (See pictures of the Top 10 scared traders...
...seems improbable that GM could lose that many customers so fast. But, Rick Wagoner, recently departed CEO of the company told Congress last December that consumers won't buy vehicles from a bankrupt company. Some of the people at the hearings figured Wagoner was bluffing, trying to convince Washington that a Chapter 11 filing would bring an end to the firm's ability to market its products because customers could turn to cars made by competitors which were in reasonably good financial shape. But, most research done recently indicates that Wagoner was probably right, at least right enough that...
...from an automaker that went bankrupt. A third survey, this one from Rasmussen, showed that 51% of consumer said they would not buy a car from a manufacturer in Chapter 11. While the poll results are not the same, they point to a similar conclusion. GM and Chrysler will lose a tremendous amount of business if they are operating in bankruptcy...
...American consumer has already lost faith in his own ability to buy things. He knows he might lose his job, he might not qualify for a loan, that his house is worthless, and that the local Sears (SHLD) was closed. If he wants to return something he bought at the store, he will need to drive 50 miles to do it. People who have trouble buying things that they need probably do not want to have their problems compounded by worrying about what they should do if something they buy suddenly breaks...