CNN reports the booming economy under Bush will
result in 6,500 to 7,500 tech companies which are likely to
fail in 2004. The report profiles corporate undertaker Martin
Pichinson who is brought in to liquidate companies in trouble. He
said 2004 will be a very busy year for him with a wave of more
massive layoffs and company closings.
"Sadly, it looks like 2004 is going to be another busy
year for me," Pichinson said. "There's still another
6,500 to 7,500 companies out there who are among the walking
dead." ...Pichinson figures more than 50,000 people have
lost their jobs on his death watch.
"I have closed more companies than anyone in the world, so
no one knows better about all the things that can go wrong in a
business," Pichinson said.
Rob is
the founder and editor of the progressive news site robwire.com and is a
frequent contributor to rob.dailykos.com