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January 26th, 2009
09:38 PM ET

Evening Buzz: Pink Slip Monday

Maureen Miller
AC360° Writer

More than 70,000 pink slips went out today, courtesy of at least seven companies.

Let me let that sink in. We're talking about 70,000+ jobs being cut in one day. Vanished. Gone.
70,000+ people with bills to pay, families to feed and no job. It's been a bloodbath for American workers.

Will it get worse before it gets better? Tonight, we'll talk over the numbers with CNN Chief Business Correspondent Ali Velshi.

This is the burden put on new Treasury Secretary Tim Geithner. He was sworn in just a couple of hours ago in Washington after the Senate approved his nomination by a vote of 60 to 34.

Do you think Mr. Geithner has the plan and the vision to fix our economy?
We'll be deeper deeper on that and we'd love to hear your thoughts.

Also tonight, the latest details on a Kentucky high school football coach charged with a player's death. Jason Stinson pleaded not guilty to reckless homicide in the heat-exhaustion death of a 15-year-old player who collapsed while running sprints during an August practice. The player's temperature reached 107 degrees and witnesses told WLKY-TV that Stinson wouldn't let him get water.

We'll have all these stories and more tonight on AC360° .
Join us at 10pm ET.


Filed under: Maureen Miller • The Buzz
soundoff (7 Responses)
  1. JQQ

    I never heard of Tim Geithner before this came about. Am I the only one?
    Most of what I saw in job lost yesterday were jobs that are not needed.
    It is just really interesting to see them all wait until after the election to do this.

    January 27, 2009 at 6:52 am |
  2. Steven

    It is easy to overlook when layoff numbers are lumped together. Those job cuts by Texas Instruments are not just any jobs. They are very well paid, high tech jobs in the wireless mobile technology. A global market that saw the sales of 1 billion handset units last year alone. Use the average cost of $100 per handset, this market generates $100B revenue a year. Texas Instruments has just abandoned this market because of short term needs and cash flow difficulties. Among those laid off are inventors and pioneers of state-of-the-art technologies in the wireless industry. Besides loosing this enormous market, the US is at risk of loosing some of their best minds to foreign competitors.

    January 26, 2009 at 11:25 pm |
  3. Jan Vega

    Wake up America. There is no easy fix to this economy crisis. We have elected a President who is trying to propose a solution. We seem to forget that he will not and cannot fix the economy alone. It is going to take team effort. In one way or the other, at some point in time, there has to be and will be a solution. We, as Americans must believe that a solution will prevail.

    January 26, 2009 at 10:55 pm |
  4. donniepadre

    ac,
    how about stimulus that includes each home owner getting 3 months holiday from their payments for each of the next two years.put the payments at the end of the loan.results in alot of money to spend right now, and costs taxpayers nothing.just a thought.
    donniepadre

    January 26, 2009 at 10:14 pm |
  5. JQ

    AC,
    I work for Wachovia Corp in Philadelphia. Our site manager for the department I work in, operations and technology, is calling a meeting to announce layoffs at our site and company as a whole. There is no word when these layoffs will begin or become official. Ever since the Wells Fargo acquired the company, we knew that layoffs are coming and that they are real.

    Keep fighting for all of us. And where can I get an mp3 player with classified documents on it?

    -JQ

    January 26, 2009 at 10:06 pm |
  6. Betty-IN.

    Maybe Mr. Geither plan will include all of us to forget or overlook paying our taxes! That would certainly help my family, considering how much we have to pay every year. Seems the 'Dream Team' is in for a nightmare!

    January 26, 2009 at 10:05 pm |
  7. Gisselle - Houston TX

    This was the topic of my family's dinner discussion this evening.

    But I wonder are there reports of people being hired as well? Is it possible, perhaps as more people are getting laid off from certain fields that other companies outside of banking and telecommunications are now hiring, perhaps the medical field, servicing areas, or other alternatives for the people being laid off?

    There is got to be a ray of hope, a light at the end of this very dark tunnel for our economy.

    January 26, 2009 at 10:00 pm |