Dear BioTech CEO

My assessment for another phase of recession is now greater than 65% because

1.     Baltic Dry Index drop 60% last month.

2.        Philadelphia Fed’s index of new manufacturing orders fell

3.     The ECRI leading economic indicators fell another week to -8.3.

4.        300,000 new homes were sold in US (May). This is the fewest number of new homes sold in one month since 1962.

5.        528,000 homes foreclosed this year and (Foreclosures will surpass the 900,000 homes repossessed last year is projection hold).

6.     US-MAP of economic indicators from Goldman Sach started a sharp drop in April.

7.        Consumer sentiment came in at its lowest reading in 11 months. 66.5 in July from 76 in June (lower than economists expected 74.5)

8.        Consumer expectations = 60.6, the lowest since March 2009.

Are you aware of all these data? If you hired a lot of people last year betting on recovery, you are now have big salary to cover.

WHAT IF the budget freeze and no-raise are not enough this time. Lay-off? If so, who go first (A. Marketing, B. Operation or C. R&D)?

Yours truly,

Concerned R&D Scientist

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