Aperte.org Jeremy Handcock

As if you haven't already heard enough about economic doom and gloom, head over to the TechCrunch Layoff Tracker to get a glimpse of the carnage in the tech sector. As an anecdotal note, I've heard nothing but sad stories of layoffs from my friends in management consulting as well and we're not even at rock-bottom yet. Myself, I'm entering the job market after grad school at the worst of times.

Interestingly, widespread personal blogging means that layoffs are communicated a little different relative to times past. As an attempt to better control the messaging, some companies are opting to announce pink slips to the public on the official company blog. Take this gracious message on the company blog from Redfin's President and CEO as an example.

I was watching Anderson Cooper earlier and I heard an interesting perspective on the decline of Citigroup, which is the world's largest bank according to revenues: after its shares lost $9B in value today, Citigroup's market capitalization is less than that of Home Depot. If you're not familiar with market capitalization, essentially that means the largest bank in the world is worth less than Home Depot -- or at least investors see it that way. Amazing.

Fortunately for us, quick thinking companies are monetizing the tough times with new booze brands: on a recent trip to New York, I was walking by a wine store when one of my friends spotted Recession Red, a wine conveniently priced under $7 for investment bankers to pick up while clutching their pink slips on the way home. Howe Sound Brewery in BC just launched Bailout Bitter: "bitter ale for bitter times." Grab a glass and pour heavy!