The Dallas Fed general business activity index fell in December from 4.1 to -4.4. The production index was flat, at 0.7.
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Next Week’s Bloodbath At IBM Won’t Fix The Real Problem
To fix its business problems and speed up its “transformation,” next week about 26 percent of IBM’s employees will be getting phone calls from their managers. A few hours later a package will appear on their doorsteps with all the paperwork. Project Chrome will hit many of the worldwide services operations. The USA will be hit hard, but so will other locations. IBM’s contractors can expect regular furloughs in 2015. One in four IBMers reading this column will probably start looking for a new job next week. Those employees will all be gone by the end of February.