Tuesday, September 12, 2006

Folsom Intel Update

"Another 61 employees at Intel Corp.'s Folsom campus will receive layoff notices between now and Sept. 24, bringing the total number of jobs cut here this summer to 191." More from the Sacramento Business Journal.


Anonymous said...

Intel is laying off, but what does the Sacramento Business Journal know? This Business "Journal" as are all the rest of them, San Francisco Business Journal, are "pay for play" guys. Any worth while news they print is about 4 months old and some of the "news" is just paid for or made up BS. The Bee is at least somewhat ethical, although their "news" is about 2 months behind.

Neither the Business Journal nor the Bee will print news in a direct and timely fashion that will hurt their advertisers or their position in the business community.

Wild real estate speculation, no sales, mind boggling no money down interest only phony baloney loans have not been widely reported in any of the local rags. It takes people with guts, such as the NY Times, LA Times and Wash Post to report the stuff.

The Sacramento Business Journal is just one step up from "Comstocks" which is about as low for a pseudo news organization as one can go.

Bakersfield Bubble said...

Anon 7:33:14 am -

Well said!!! Also, I am sure the Bee visits here as the Bakersfield Californian vists my site. They are aware of these blogs - NOW WILL THEY HAVE THE COURAGE TO GET OUT IN FRONT OF THIS STORY or lets the blogs continue to lead??


Gwynster said...

My ex boyfriend works for Intel. In 2003, we bought a house together. He wanted to go with an ARM. I put my foot down when we discussed financing, I told him we'd put down 15% TO 20%, and go with a 6% fixed or I'd stay in my lovely spacious $500 a month craftsman downtown.

When we split up, I wanted to sell but he bought out my half of the property with a heloc on a second property of his.

So now flash ahead to 2006. I had dinner with him the other day. He knew I'd disapprove but he confessed to refianacing the house with an ARM, cashed out some equity to pay off the heloc and his credit cards which were maxxed since he was living off of them apparently.

I asked him about the layoffs at Intel. He said he was safe. However, he's a manager in IT and that's one of the target areas for the layoff.

I'm glad I'm not him right now.