“The rough times are continuing for hard-drive companies.

Following in the footsteps of rival Seagate Technology, Maxtor on Thursday announced job cuts amid worse-than-expected industry conditions. Maxtor said it would eliminate 400 to 500 positions and predicted a net loss for the second quarter, ended June 26, of between $20 million and $30 million.”

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This can hardly be viewed as good news. You may have been enjoying those historically low prices for storage, but remember that someone has to pay the price. In this case 500 someones are paying.

It seems that all the good news trumpeted across the evening newscasts by the Bush administration about how great the ‘recovery’ is doing and how offshoring ‘is a good thing’ may be about as true as your average advertising crap. I guess one should expect that in an election year, but it doesn’t do the American workers any good to have the rest thinking that such disasters aren’t happening.

Imagine the political mayhem that would result if the government was forced to tell the truth!