Re: countrywide (aka enron) cans 12k employees
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I really don't get it. Usually when a company fires a bunch of people the market reacts to that positively and the stock goes up. Why is it a bad thing in this instance?
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because countrywide have been massively cash flow negative for months now and they are laying people off because they've tapped all their credit and can't make payroll anymore. their financials are largely a product of counting negative amortization of their assets as income. countrywide as we know it won't exist in 2 months.
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Anyone else feel this way?
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