Quick spot of dreary news

I've picked up a disturbance in the force via Google Reader. And by force, I mean the publishing world. It's *so* bad that today has now been labeled "Black Wednesday" by some.

Layoffs at Simon & Schuster

Houghton Mifflin Harcourt lays off employees---and that comes *after* a "temporary" halt on acquisitions

Major reorganization at Random House---and that comes *after* a pension freeze for current employees and an elimination of pensions for any new hires

Thomas Nelson Cuts Staff By 10 Percent

And even though publishing and books are near and dear to my heart, it's not just books that are hurting. Apparently Cox newspaper group, Sports Illustrated, and even Google are cutting back, laying off, and struggling.

I think this is why the bailouts of the financial and automotive industries piss me off so much. It's not like other industries aren't going to be in trouble as well. And instead of paying executives and management *ridiculously* large salaries and bonuses, perhaps these corporations should have prepared for a rainy day.

I mean, really, why do certain industries get free money and the rest get to sink to the bottom taking their employees with them?


sagefool said...

You, of course mean "White Wednesday" - I am tired of associating black with bad. This crap all deserves giving credit where credit is due.

And it is the man, the white man, who can add it to their long list of "achievements."

Single at 50 said...

Yes and they all mocked me when I said I thought the bailout was a bad idea and could have been handled differently. "No" they said at coffee break, "It has to be done or we will all suffer." Looks like the middle will always suffer!

moongrrl said...

LOL @ the sign.

Ms. Maladjusted said...

I blogged on something similar a couple weeks back and feel much the same way. The bailing out of some giant industries while leaving others to fail is frustrating to watch, but overall I still think that perhaps some of the corporate bailout money might be better off going into the hands of citizens who actually need it to put food on the table, gas in the car and keep the electricity or water turned on. I'm just sayin'...