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November 27, 2008 Hawaii was hit with 18 "mass layoffs" in September and October resulting in over 1,800 people losing their jobs, according to data from the U.S. Department of Labor. "Mass layoffs," defined as 50 or more workers going jobless for at least 30 days, were initiated at over 2,000 companies nationwide last month. That's the worst October the U.S. workforce has endured since 2001.
Even as workers broke ground on the new Whole Foods store in Kahului, the grocery giant got some bad news on two fronts. First, stocks took a nosedive, falling to the lowest mark in the past year (before recovering slightly). Then came word that an appeals court judge shot down the Texas-based company's latest effort to ward off antitrust charges related to the acquisition of rival Wild Oats Markets in 2007.
If you've got one of these jobs, be happy: Online employment firm Jobfox.com compiled a list of the "100 Most Recession Proof Professions." The top five: sales rep./business development; software design/development; nursing; accounting and finance executive; accounting staff. Surprisingly not on the list? Manufacturers of those over-the-shoulder hobo satchels.
Another dispatch from the department of repetitive redundancy: Pacific Business News reports that the latest figures for November show hotel occupancy continuing to plummet statewide, with Maui hit by far the hardest. In the interest of avoiding beating this dead horse any more—not to mention keeping hotel executives off the window ledge—we're going to pledge right here that you won't read another word about hotel occupancy numbers in this space until they go up. So yeah—it's gonna be a while.
Those hoping for a rosier 2009 should either abandon those hopes, start drinking heavily or possibly both, according to a report from the University of Hawaii Economic Research Organization (UHERO). Fewer visitors will arrive, more jobs will be lost and income will stagnate and decline in the New Year, warns UHERO. "Economic conditions are now poor in virtually every visitor market, and as a result we expect the current sharp tourism downturn to continue well into next year," reads the report. Gluttons for punishment can read the whole thing at uhero.prognoz.com. Again, drinking before, during and after is recommended.
CnnMoney.com reports that, in an effort to cut costs, "General Motors is bailing out on Tiger Woods" by ending its endorsement contract with thefamed golfer. While we're sure Woods would have kept taking GM's money, for a guy who tries to project an air of unflappability, getting out from underneath a lurching corporate supernova was probably a good move. MTW
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| Entertainment and lifestyle news for Maui, Hawaii and the surrounding Islands. Maui Time Weekly is Mauis only independent and locally owned newspaper.
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