Tuesday, November 18, 2008

Be Scared..... Be VERY Scared but Don't Worry Cox We're In Malaysia.....

DSB HK cut 900 - Hong Kong and Singapore
HSBC to cut additional 600 - worldwide
Pepsi Cola - 3,300 - worldwide
Sun Microsystems 5,000 - 6,000
And CITIBANK cut 52000

U might said aiyah.... that one in America mah.....

In today NST....

1. CIMB Aviva offers VSS (wow..... VSS already!!!!!!!!)
2. MK Land to unveil turnaround plan on Nov 28 (turnaround plan to return to profitability? what a polite word for employee lay-off/cut???)

So, now.... are we still insulated from the recession? Deputy Minister Kong Cha Ha (MCA) said it's slowdown but not recession. Hmm.....


Anonymous said...

But tehe banks go through this every 10 years.
Hopefull ppl have not be overly exuberant... ;) or irrationally so to use Greenspan's famous words...
But credit card debt in Malaysia is not as bad as the US and people usually have savings? Well I sure hope SO!

CK said...

in a way, it's like natural selection. the weak ones will be sidelined and kicked out. but in malaysia, the terms "weak" will be subject to certain terms and coditions of course.

haha.... Finance Minister 2 said tat kan? he said luckily we have 30% savings or sth like tat kan?

Bin Bin said...

I read somewhere about this Q&A:

Which country is the only country insulated from economy crisis today?