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And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new wave of mass layoffs across corporate america. The nations job market may not be robust, but its not frozen, either. In fact, today, the payroll firm a. D. P. Reported 118,000 new private sector jobs were added in november, fewer than in october. The blame for last months slowdown in hiring falls squarely on Hurricane Sandy, not on any new or widespread weakness in the economy. I would expect that by december, were going to see some bounce back. Much of the disruption from sandy was people simply not being able to get to work or firms ....
Rtses. Reporter a peak inside this Manhattan Apple store and it looks like everything is aokay. Plenty of customer, plenty of purchases. So why has the shine come off apples shares . With a in aa word, actually two, profittaking. I think the biggest reason for the selling going back to when it was priced 700 in september is pure profittaking. If you look from the beginning year to september, the stock was up 74 . So i think you had some natural profittaking. Reporter but this isnt ode yearend selling by institutions looking to record nice numbers. This supposedly is fiscal cliff related selling as shareholders worries that Capital Gains tax rates will be higher next year. Still, Financial Planner sharon appleman says selling stock solely for tax reasons isnt the best idea. I definitely think its a legitimate concern a ....
Rtses. Reporter a peak inside this Manhattan Apple store and it looks like everything is aokay. Plenty of customer, plenty of purchases. So why has the shine come off apples shares . With a in a word, actually two, profittaking. I think the biggest reason for the selling going back to when it was priced 700 in september is pure profittaking. If you look from the beginning year to september, the stock was up 74 . So i think you had some natural profittaking. Reporter but this isnt ode yearend selling by institutions looking to record nice numbers. This supposedly is fiscal cliff related selling as shareholders worries that Capital Gains tax rates will be higher next year. Still, Financial Planner sharon appleman says selling stock solely for tax reasons isnt the best idea. I definitely think its a legitimate concern an ....