Why Are Investors Grinning as Companies Ax Jobs?

Warning. I think I've reached my Peter Finch from "Network" moment. I'm "mad as hell" about how Wall Street keeps celebrating job cuts as if they are a good thing for the markets and economy. I'm not sure I can take it anymore. (If you want a special video treat, be sure to read all the way to the bottom of this column.)

Shares of Macy's (M) rose more than 8% and hit a record high Thursday, even though the company announced it was closing some stores and laying off 2,500 workers.

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