The US government has again cut its forecast for crop yields this year. This is on top of a forecast already reduced in August. On the one hand this might seem not to matter, since the crop is still expected to be the third largest in US history. But reality is that: Use of corn …
Daily archives: September 13, 2011
Bank of America plans to axe 10,000 jobs
A brief post this one. Bank of America has said that it will cut 10,000 jobs (10.5% of its workforce) in the first phase of its restructuring plan. This will save the company $5bn per year. Why comment on this? It is surely a normal thing to do? Well, yes. And so it is interesting …
New paradigm needed, II
Following our post yesterday on how we need a new paradigm for business, it was interesting to read George Magnus (“the man who predicted the sub-prime crisis”) writing in the FT today saying almost the same thing” “Put simply, the economic model that drove the long boom from the 1980s to 2008, has broken down.” He …