double whammy / $ and housing / layoffs coming fast and furios.....

what a sweet spot... to be in the housing business and have your base outside the us.......... one more piece that shows that the layoffs directly realtet to housing are starting to pick up. the indirect will follow soon. the $ decline will hurt more and more europen stocks. i bet that in 2007 lots of warnings realtet to the $ decline will follow. time to revise the estiamtes down...... one fact that isn´t mentioned very often is that the euro vs yen is also a big problem especially for the german expoertes. the japanese are the main competitor in very importend segments like autos etc.

was für ein "glück".... im us immobiliensektor zu sein und dazu noch ausserhalb der usa beheimatet..........ein beispiel mehr wie die unmittelbaren entlassungen im zusammenhang mit dem immomarkt anfangen merklich zu steigen. die mittelbaren werden sicher demnächst folgen. jede wetter das wir im jahr 2007 besonders von deutschen firmen jede mange warnungen im zusammenhang mit dem $ sehen werden. eine tatsache die nicht so häufig besprochen wird ist das verhältnis euro/yen. besonders die deutschen sind in wichtigen segmenten wie pkw und vor allem dem maschinenbau harte konkurrenten.

http://tinyurl.com/y25gtj Wolseley Plc, the world's biggest supplier of plumbing and heating equipment, cut 2,000 U.S. jobs to trim costs amid a housing slowdown. Shares of the company, which reported a jump in European earnings, rose 5.1 percent (off course.....selbstredend.....)

Chief Executive Officer Chip Hornsby said he's begun a ``significant'' savings program after U.S. operating profit declined in the three months to Oct. 31. Headcount at North Carolina-based building-materials unit Stock has been cut by 10 percent to 18,000. Other U.S. divisions fared better, with earnings at plumbing business Ferguson increasing 20 percent.

European operating profit jumped more than 30 percent in the fiscal first quarter, led by a recovery in the U.K. property market, stronger sales in France and the 1.5 billion-euro ($2 billion) purchase of Denmark's DT Group, Wolseley said today.....

Dollar Impact
Quarterly operating profit in the U.S. fell ``slightly'' when translated into British pounds, Wolseley said, crimped by a weaker dollar. In local currency terms it rose 5 percent. The company said in September that it planned to cut U.S. jobs in response to the sharpest housing slump there in 15 years. .......