Baker Hughes hikes profit, paints grim picture for 2009

Oil field services giant Baker Hughes Inc., which this week said it is cutting 1,500 workers worldwide, reported a bump in fourth-quarter profits today but its chief executive warned the 2009 outlook


In a news release before dawn, Baker Hughes Chief Executive Chad Deaton was more focused on a gloomy short-term forecast that prompted the layoffs, including about 200 of the roughly 7,300 local workers.