3M Co.'s (MMM) quarterly profit dipped 48 percent in the first quarter, prompting the Maplewood, Minn. based company to lower forecasts.  U.S. customers still aren't spending money and this hurt sales of LCD screen coatings, office supplies, steel coatings and other products.  Go buy some Post-it notes and Scotch tape people!

3M reported net income of $518 million, or 74 cents per share for the first quarter... That fell from $988 million, or $1.38 per share, a year earlier.  Again, that's a 48 percent drop.  Write it on a Post-it note so you remember.

Earlier in April 3M offered around 3,600 employees early retirement packages.  That's 11 percent of its work force.  They also announced plans to cut an additional 1,200 jobs because of the economic situation.  That's a lot of jobs which equals a lot of unemployment claims which equals more foreclosures.