Intersecting Minds: Education, Business and Technology at the North Carolina State Jenkins Graduate School of Management

Friday Morning Quick Hits | March 6, 2009

This morning’s news is all about jobs and how quickly they’re disappearing. Unemployment in the United States hit a 25-year high at 8.1% as the economy shed another 650,000+ jobs in February. In New York, 3,700 people showed to a job fair featuring 92 employers.

The economic environment has hit the tech sector hard. Apple’s shares have taken a hit this morning when analysts cut the estimated number of computers and iPhone the company would sell this quarter. Additionally, the company faces a large threat from unauthorized software distributors.

Wells Fargo will cut its dividend 85% in an effort to save costs.

Retailer Ann Taylor delivered more bad news this morning, posting a wider than expected loss.


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