This valley is about to get a lot more unpleasant. From October 10, 2008 KTVB:
BOISE -- In the wake of Thursday's announcement of job cuts at Micron, word today is that most of the 1,500 local layoffs will happen before Christmas.My daughter has been out trying to buy a house--and let me emphasize trying. A surprising number of people with houses for sale are unable to move even a little bit, not because the offers my daughter and son-in-law are making are insulting (they aren't--I taught my daughter not to take advantage of people in distress), and not because the sellers are unrealistic--but because many of them are underwater--they sometimes owe more on the house that the listing price. One poor guy, who doesn't even live in the Boise area anymore, tried (and failed) to get a bank loan to pay part of the closing costs. Wow.
The overall, companywide restructuring announced Thursday will take two years, but Micron is working to shut down a majority of its NAND flash manufacturing lines in Boise as soon as possible -- over the next month or two.
That means most of the 1,500 Boise workers will be laid off by the end of the year.
This process begins with a one-week long voluntary program -- those who accept this option get an additional 6-weeks of pay, plus their severance packages.
After that, it moves to an undetermined number of involuntary layoffs.
I see some pretty dark times ahead for the United States. If Obama were a genuine socialist, I could see the next Administration going for some sort of major redistribution of wealth. But Obama is a Chicago machine politician. What we'll get (if Congress goes along with him) is likely to be a very complex scheme that throws a few bones to poor blacks (under the guise of slavery reparations) while continuing the Democratic Party's agenda of redistributing wealth from middle class Americans to obscenely rich con men--like Franklin Raines. Why, it sounds much like the subprime mortgage madness that led to the current disaster!
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