RIO Slashes 14,000 jobs
- Thread starter buzzlightyear
- Start date
14,000 jobs WORLDWIDE - not just Australia.
lets get the specifics right here.
CitiGroup laid off 60,000.
lets get the specifics right here.
CitiGroup laid off 60,000.
I don't normally buy resource stocks (don't pay enough income) but RIO is looking increasingly interesting to me. If you can believe what you hear it appears that it addition to its debt concerns which are being addressed there has been a mass exodus due to margin calls and redemptions against hedge funds and the like.
Anyhow might be worth a relatively small investment from a speculative viewpoint albeit a very large speccie
Cheers - Gordon
Anyhow might be worth a relatively small investment from a speculative viewpoint albeit a very large speccie
Cheers - Gordon
This tells the whole story,i was very lucky to sell RIO just as they went below the 100$$$$ mark,and i was very lucky i did,i have bought back in a few times around 32$$$$,i'm in no hurry,the best prices are yet come..
imho..willair..
goodbye tax receipts = good bye pork barrelling for the rust belt states + less white collar employment at head office = good bye sydney/melb/london house prices.
I would be more concerned about melb/sydney house prices than mining town prices as a result of this
the BHP offer that their directors rejected, or
the inflated purchase price of alcan at the peak of last years market, or
or where on earth do you find $40bn at the moment, or
why didn't i sell my shares for $100....
to name a few things
like... 0?
Wombat that's all that was on the page,I just wanted to post that link
to let people see what can happen, to top end blue chips, btw RIO
was cheap in day trading terms at 32$$$$,they may well break back into the 40$$$$ today,buy on monday sell on friday, let everyone else worry about all the doom and gloom, RIO up 5% today..imho..willair..
That's never going to happen, China's money men are already in place and going by the upward trend of the last few days someone is very interested,no matter what the price..imho..willair..
hahaha famous last words - "that'll never happen".
I have been saying for sometime (last 6 months) that the mining areas, Perth, and Brisbane were the most exposed to price fall. This is now coming to fruition.
The interesting thing is the areas that did not do well during the resoruces boom.....Western Sydney and Melbourne are now back in fashion. I think this will be more pronounced as the economy consolidates.
As for houses falling in Sydney and Melbourne...yes....but only in the upper middle class and executive suburbs. As a matter of fat I would say it is becoming a blood bath in executive suburbs like Mosman (NSW) and Brighton (VIC).
The interesting thing is the areas that did not do well during the resoruces boom.....Western Sydney and Melbourne are now back in fashion. I think this will be more pronounced as the economy consolidates.
As for houses falling in Sydney and Melbourne...yes....but only in the upper middle class and executive suburbs. As a matter of fat I would say it is becoming a blood bath in executive suburbs like Mosman (NSW) and Brighton (VIC).
Rio head office is on Collins St. I see some pain there. probly an appropriate time to close the front doors permanently - it's the equivalent of a beach house for those guys
so, RIO cuts 14,000 jobs worldwide and all of a sudden upmarket Melb and Syd house prices are set to tumble and Perth and Bris are going to fall by the way-side?
seriously folks - you're all as bad as ninemsn.
i'd love to know what effect the 60,000 worldwide jobs, that Citigroup cut, will have on the Zurich and Lauterbrunnen RE prices as well.
let get a grip of reality again shall we? there isn't even confirmation yet of the number of Aussie job cuts in there, if any.
seriously folks - you're all as bad as ninemsn.
i'd love to know what effect the 60,000 worldwide jobs, that Citigroup cut, will have on the Zurich and Lauterbrunnen RE prices as well.
let get a grip of reality again shall we? there isn't even confirmation yet of the number of Aussie job cuts in there, if any.
contractors are always the first to go - even in good times.
worldwide.
that's about 750 full time people per country (roughly) for every country that RIO operates in. i think BankWest cut more job than that out of WA!
wow - that'll have a huge effect on property prices!
that's about 750 full time people per country (roughly) for every country that RIO operates in. i think BankWest cut more job than that out of WA!
wow - that'll have a huge effect on property prices!
