Home Depot To Layoff 7,000

It looks like the economy isn't going to get any better in the short term. Now the home improvement giant, Home Depot, has announced that it will cut 7,000 jobs, or about 2 percent of its workforce, as it shuts its Expo home design centers business and cuts down on corporate support staff.
But that's not all they are doing to protect themselves from slumping sales. Home Depo will freeze the salaries of all officers until further notice.
The company said it expects pretax charges of about $532 million from its actions.
The company said it still expects sales to decline 8 percent and earnings per share to fall 24 percent from continuing operations for its fiscal year, excluding one-time charges.
For its coming fiscal year, Home Depot said it will cut capital spending to about $1 billion and will open 12 stores.
Home Depot's (HD) Stock Price rose on the news, up $1.27 (5.85%) to 22.99. Home Depot's 52 week high was $31.08 (January 31, 2008) and it's 52 week low was $17.05 (October 10, 2008)

Monster Truck Death Caught on Video

A tragedy at a Motor Sports Monster Truck and Thrill Show was captured on video. The promoter for the Motor Sports Monster Truck and Thrill Show has died from injuries in an accident at the Dane County Coliseum in the second fatality at a monster truck event in nine days.

The Dane County Coroner says 41-year-old George Eisenhart Jr. of Chardon, Ohio, died after the accident on Saturday night in Madison. A witness tells the Wisconsin State Journal that Eisenhart walked out in front of one of the monster trucks just as it was about to pass by.
The death comes just over a week after 6-year-old Sebastian Hizey died at the Tacoma Dome in Tacoma, Wash. He was struck in the head by a Frisbee-sized chunk of metal that tore off a truck doing doughnuts during the Monster Jam show, which is run by a different company.

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