American Express plans to cut “approximately 4,000 jobs or about 6 percent of the company’s current worldwide workforce”, according to a company press release just issued.
In other business news, Jonathan Adler writes, “Silicon Valley Reaps What It Sows:”
Silicon Valley enthusiastically supported Barack Obama’s Presidential bid. Tech firms lined up early, and sent campaign donations Obama’s way by as much as five to one. Yet now Silicon Valley is bracing for an increase in federal antitrust enforcement, as the Obama Administration adopts a more aggressive posture toward successful tech companies, including Intel and Google. But there’s a silver-lining for some: Antitrust lawyers will have plenty of business.
“A more aggressive posture toward successful tech companies” — yes that’ll jump start California’s economy, not to mention America as a whole.
As will cap-and-trade, “A steel fist of regulation covered by a velvet glove of emission trading”, according to its inventor.
Finally, the Heritage Foundation has issued a series of charts designed for “Refuting Leftist Myths,” as their headline notes.
Of course it won’t jump start the economy–the intention is to destroy it. Once that is understood, Obama seems like a perfectly rational man.