To the Point
Job Cuts Are Taking Their Toll
Some 2.5 million Americans lost their jobs in 2008, and this year three million more are likely to be laid off. We look at the impact of unemployment across the country. What will it take to get the next job in a restructured economy? Also, President Obama's envoy is in Jerusalem as fighting flares, a Super Bowl ad is more than just a commercial.
By Warren Olney • • 1h 0m ListenSome 2.5 million Americans lost their jobs in 2008, and this year three million more are likely to be laid off. We look at the impact of unemployment across the country. What will it take to get the next job in a restructured economy? Also, President Obama's envoy is in Jerusalem as fighting flares, and recession or not, a Super Bowl ad still costs $100,000 a second. Why would a company pay that kind of money?
Banner image: Men walk near rows of Caterpillar products at Quinn Co. Caterpillar in City of Industry, California. The biggest international manufacturer of construction equipment, Caterpillar, will eliminate 20,000 jobs, about 18 percent of its workforce, after it announced its fourth-quarter profit dropped of 32%. Photo: David McNew/Getty Images
In this episode
3 storiesThe Ravages of Unemployment
Monday, it was 20,000 at Caterpillar , 8,000 at Pfizer and Sprint/Nextel and 7,000 at Home Depot . Yesterday it was 3500 at Corning Glass and today it’s 10,000 at Boeing . In manufacturing and retail, even in Silicon Valley , unemployment is rising fast.
Read the story1 minObama’s Envoy in Jerusalem as Fighting Flares
On his first trip as Barack Obama's Middle East Envoy George Mitchell has gone from Cairo to Jerusalem. But relations between Israel and the Palestinians have gone from bad to worse.
Read the story6 minSuperBowl Ad Madness at $3 Million and 30 Seconds
On Sunday, the Pittsburgh Steelers will play the Arizona Cardinals in this year's SuperBowl . Viewership may be lower than usual but, despite the failing economy, advertising will cost more than ever, up to $3 million for 30 seconds of airtime. One 90-second spot will be in 3-D .
Read the story8 min
