Daily Reading: December 3, 2008

I'm sure this comes as no surprise: Private employers were cutting jobs in November. Reuters.

Although it is probably skewed a bit due to declining payrolls, productivity growth is better than expected in the 3rd Quarter. AP.

Mortgage applications rise significantly due to lower interest rates. Not a lot of surprise news today. CNBC.

The pros and cons of less expensive oil. Yes, there are cons to cheap oil. As a matter-of-fact, there are many more cons than pros in the long-term.

Daily Reading

OPEC decides not to cut production YET. Bloomberg.

Consumer spending and the labor market are weak. NY Times.

This Wall Street Journal article helps to explain the purpose of MOS Investor.

GM is trying to come up with a plan. WSJ.

Don't forget to celebrate the 75th anniversary of the repeal of Prohibition this Friday, December 5th. WSJ.

CNBC compiled a list of companies who have announced layoffs.