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Double-Take Move for migrations

During the economic down turn, Warren Buffet is looking to cash in on the frugal consumer!  In the latest quarter, Berkshire Hathaway increased its’ stake in Walmart the discount retailer from 19.9 million shares as of June 30th to 37.84 million shares.

Sprint plans to cut up to 2,500 jobs by the end of 2009 to try and save more then $350 million in annual labor costs.  This amount is in addition to the 8,000 jobs Sprint cut in the beginning of 2009 to save over $1.1 billion in labor costs.  The combined total should save them $1.5 billion in labor costs annually.

While the recession had officially ended.  You can see by the continued job cuts that unemployment won’t be dropping anytime soon.

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Warren Buffets Berkshire Hathaway Inc. has tripled its’ previous 3rd quarter profits to $3.2 billion.  While actual cash income was flat to the previous 3rd quarter, $1.1 billion in paper gains on their derivatives is what fueled the great numbers.

Not all news was good for Berkshire Hathaway though.  Subsidiary NetJets plans to layoff 495 pilots in January due to less demand for it’s jet services.  NetJet’s produced a pretax loss of $183 million in the 3rd quarter.

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Most people were predicting 10% unemployment before the end of the year, but the 10.2% unemployment rate at the end of October was worse than most had predicted as some are now predicting 10.5% - 11% sometime next year.

For investment purposes remember that unemployment is a will continue to rise until about a year after the recession has ended.  That isn’t very comforting to the newly unemployed, but for those who have investment funds, the economy will continue to get better before unemployment gets better.  Remember to invest with your head, not your heart.  By the time unemployment starts to decline, this market will be higher than it is now.  Like the end of most recessions, this will continue to be a jobless recovery.

Unfortunately for the CD investors, rates will continue to be horrible.  Until jobs start to come back, the fed will continue to keep rates at the lowest they have ever been to try and continue stimulating the economy.