In the latest piece of terrible economic news, internet mainstay Yahoo! posted a quarterly loss of $303 million in the fourth quarter, due to termination costs and bad investments. Apparently, it's not cheap to pink-slip tech workers: Without the charges connected to dropping 1,500 employees, the search engine/web portal would have recorded a profit. Ten percent of Yahoo!'s staff was laid off, and now the company has 13,600 employees.
How long do you think this recession will last? I'm thinking at least another year.. but I'm an optimist.
Oh, and if you're depressed by the wave after wave of bad news that seems to herald the slow-motion collapse of our economic system, just look at this photo of some clowns about to run into trouble! Those clowns are hilarious!