When these types of things happen, many good people lose jobs, and that is the sad part about what is happening. From the business perspective, however, I do not view any of these changes as surprising or negative in any way.
I also would guess that many of the Joe employees at WaterColor who are in sales will land on their feet with other realty companies in the area.
In short, I think all of the negativity surrounding the real estate market is translating over into how Joe's recent announcment is being viewed.
The current real estate market is definitely the major impetus for their changes, but the ways in which they have chosen to deal with it (telling employees less than 45 minutes before the news hits the AP wire for example) and its effect on the community is why people are reacting the way they are.


