Wilmington Ohio braces for more job losses as ABX Air announced today layoffs of 1,900 because DHL terminates its contract with the company as of Jan.4th. ABX operated planes and transport services for DHL in Wilmington Ohio where 1,000 of ABX jobs will be lost.
Its too late to bail out DHL and stop them from leaving the U.S. but in looking at candidates for bailouts, DHL acts as a model. It is a company that acts as an economic hub where its failure cascades more failure through out an industry sector and such companies should be considered candidates for federal money if one of the goals of the bailout is to insure the continued basic functioning of the economy.
Listening to Elizabeth Warren who heads the Congressional bailout oversight panel on “Fresh Air” yesterday, its unclear the Treasury Department has a bailout strategy but given the likelihood of more sectors failing throughout the economy in the coming weeks and months, they had better come up with one.
Tags: ABX Air, Bailout, DHL, Elizabeth Warren, Fresh Air, Layoffs, Treasury Department, Wilmington Ohio
Reading Tea Leaves by Randy Wilson 
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