more layoffs...

Where we're at

Dow: 8799
S&P: 946.21
10 yr: 3.79%
VIX: 28.15
SandP P/E: 16.08

Equity: 33.6
Bonds: 30.9
Cash: 35.5

1 yr: -8.67

This week another 1300 layoffs were announced, 800 next week and 500 by 8/14. The director had a rare stand-up meeting that I missed due to a lunch with DL and Marc O. My briefing from Andy was no add'l IT (yet) and another 3 weeks of furlough by 12/31. I have opted out of unemployment for now, not sure when I need to sign up. I think it will depend on when I get the other 3 weeks scheduled. This should cut employment in half from YE 2008. We'll probably be treading water until EOY 2010.

J had a scare this week. She thought she was going to get fired because of a contract problem. I think by the end of the week she felt better. We decided to continue with our vacation plans. We aren't going far, spending much, or taking many days. It will be good to get away.

The market continues to move moderately higher. I took a little money off the table to harvest a loss. I'll move the money back in 60 days. I have also begun shortening our bond investments from intermediate to limited term. Hopefully if I get laid off, it will be when the rest of the economy improves for other industries.