Mark and Kathy Swezy of Englewood, Colorado embody what many Americans would call a rock-solid work ethic. Mark is a full-time purchasing manager at JoaQuin Manufacturing, while Kathy splits her time between her own graphic design business and a job at Nosh Nest, a high-end cookware and food shop in downtown Denver, Colorado.
Yet to hear Kathy Swezy tell it, the last two months have meant belt tightening on top of more belt tightening. “Over the last 60 days it’s been a little bit better, because I’m starting to get more graphic design work — but I really had to cut my rates, too,” she says. “So I’ve been buying school clothes at thrift stores, I’m using outdated software,and basically we don’t go out to dinner much at all.”
NEW YORK (Reuters) – The recent executive shakeup at Bank of America followed by reports of massive layoffs at the bank may leave you wondering what the turmoil means for you – either as a client of the banking colossus and Merrill Lynch, the brokerage firm it owns, or as a shareholder.
As experts ponder these moves – which include the departure of Sallie Krawcheck, head of the bank’s wealth management unit and Merrill’s public face – they see a rocky period in the days ahead for the company’s shareholders, but not necessarily its clients.