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  1. Join Date
    Jul 2008
    thanks a lot ULS for enlightening us.
    so major solution talaga is to create jobs so banks would lend money to people & economy will once again propel to normalcy.

    sana naman. let's hope & pray for all.

  2. Join Date
    Nov 2005
    the reason why semiconductor exporters (Asia) are losing business is coz the economy of the biggest consumers (US and EU) are in recession

    Consumer and business spending has slowed down.

    that's it.


    so major solution talaga is to create jobs so banks would lend money to people & economy will once again propel to normalcy.
    actually, for banks to start lending again, they first have to solve their problem with bad loans

  3. Join Date
    Nov 2005
    Garments, electronics firms to lay off workers: DOLE
    Local companies in the electronics, garments and coconut oil processing sectors are set to lay off more workers this year as a result of the global financial crisis, the Department of Labor and Employment said Friday.

    Labor Secretary Marianito Roque said weakening export demand in traditional export markets such as Japan, the United States and Europe have severely affected local manufacturing firms in the three industries.

    Semiconductor sales fall 9.8% in November
    SAN FRANCISCO (MarketWatch) -- Worldwide sales of semiconductors fell 9.8% to $20.8 billion in November, compared with $23.1 billion in the year-earlier period, the Semiconductor Industry Association said Friday.

    Global Semiconductor Sales Decline 9.8% in November
    Jan. 2 (Bloomberg) -- Global semiconductor sales fell 9.8 percent in November, the second straight monthly slide, as a deteriorating economy hurt chip demand, an industry group said.
    Last edited by uls; January 3rd, 2009 at 01:12 PM.

  4. Join Date
    Jan 2003
    Quote Originally Posted by Gen. Miting View Post
    the semiconductor industry is falling simply bec. the semiconductor has outlived it's usefulness.

    wala na eh na-maximize na capabilities nya, electronics are just doubling or quadrupling the output (as comparison dual cores and quad cores). parang naging redundant na lang.

    i think the there will be a shift in either organic or light ...
    let correct your notion, the semicon industry will be around even for a longer time as it drives the technology. when this industry set foot in this country in the 60s, it was manufacturing parts for radios & tv only. now the semiconductor tha this insdustry produces are all around you ie. homes, cars, space, hospitals, military hardware, etc...

    pulling the plug in this industry is just like living back in the 50s. being export oriented, it is always badly hit during econmic slowdown as majotiry of it's market is on the consumer products like cellphones, music players, appliances,
    pc etc...this industry is used to this conditions so cutting workforce is nothing really new to it. in the contrary, once the market picks up, they quick to hire additonal staff to respond to the market needs.

  5. Join Date
    Nov 2005
    devaluation. if noon 90's, $100M can run a country ngaun even a $1B can't.

    even our 2009 budget, is in the trillion pesos na.
    you just described inflation

    inflation happens coz it's the nature of the system

  6. Join Date
    Dec 2005

    More RIFs are coming.....


  7. Join Date
    Oct 2002
    Quote Originally Posted by uls View Post
    actually, for banks to start lending again, they first have to solve their problem with bad loans
    how are they going to fix the bad loans if borrowers simply turned their backs and left?

  8. Join Date
    Nov 2005
    Yep that's the problem

    that's what the central bankers are trying to solve

    they lowered interest rates

    they are buying (or planning to buy) securities -- monetizing debt

    let's see if it works

  9. Join Date
    Nov 2005
    whenever there is a crisis or a looming crisis, the banks tend to benefit from the situation. the fear and paranoia makes people want to spend less and save more and therefore, all-time high in record deposits.
    banks do not profit from deposits

    they have to pay interest on deposits

    banks make profit by making loans.

    kumikita sila sa interest.

    they arent making much loans now.

    Bank of America (BAC, Fortune 500), which will report its results on Jan. 20, is expected to report a profit of $1.39 billion, or 15 cents a share, up sharply from last year's grisly fourth quarter, according to consensus estimates by Thomson Reuters. But it's well below the results of $5.41 billion, or $1.19 a share, in the fourth quarter of 2006.
    Earnings at JPMorgan Chase (JPM, Fortune 500) are expected to plummet 83% to $482 million, or just 4 cents a share.
    Wells Fargo and Citigroup
    Profits at Wells Fargo (WFC, Fortune 500) will tumble 17% from a year ago, according to Thomson Reuters. And Citigroup (C, Fortune 500), which has been arguably the hardest hit among the group, is expected to book its fifth consecutive loss, this time hemorrhaging close to $3.8 billion, or $1.14 a share.
    everyone is expecting the banks to report bad Q4 results
    Fearing the worst, analysts have slashed their forecasts for several banks in recent months. At JPMorgan Chase, for example, current estimates are for the company to report a profit of 4 cents a share. Just a month ago, analysts were expecting a profit of 27 cents per share.

    banks don't profit from increased deposits

    increased deposits just allow banks to lend out more money

    (for every dollar deposit, they can lend out $10)

    banks have to make loans to make money

    if they don't lend, they don't make money
    Last edited by uls; January 11th, 2009 at 01:52 PM.

  10. Join Date
    Oct 2008
    ^^i guess deposit is part of the cycle of every economic existence of a bank. they need our deposits, so they have funds to give out to the public in the concept of loan that bears interest. to a greater extent, they profited from our deposits, which they have extended to the public as interest bearing loans. a portion of the interest would also be paid to the depositor, because the relationship of a bank and a depositor is a special one, akin to debtor and creditor.

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What companies/industries are hit by global economic crisis and are laying off?