Archive for January, 2012
Tuesday, January 31st, 2012
Petro Serve USA's CEO isn't too worried about the extra online competition of lottery sales. Just last month, the US Department of Justice removed obstacles for state lotteries to offer online lottery tickets. The consideration has just ...
Posted in Uncategorized | No Comments »
Tuesday, January 31st, 2012
What do the NAR, Consumer Confidence and CBO forecasts have in common? If you said, "they are all completely worthless" you are absolutely correct. Alas, the market needs to "trade" off numbers, which is why the just released CBO numbers apparently are important... And the fact that the CBO predicted ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
In 2012, the deficit will narrow to $1.08 trillion — the fourth straight year of a trillion-dollar gap — from last year’s $1.29 trillion, the budget office projected, and fall to $585 billion in fiscal 2013.
The CBO said that much of the projected decline in the deficit comes from substantial ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
In a move experts said is part of an ongoing trend, local fruit and vegetable grower Sun Pacific Farming Cooperative, Inc. will permanently lay off more than 2,100 employees based at its Bakersfield facility in favor of a seasonal workforce provided entirely by farm labor contractors. The layoffs will take ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
Finnish-German network equipment vendor Nokia Siemens Networks (NOK, SI) plans to cut between 1,200 and 1,300 jobs in Finland as part of a massive restructuring effort announced in November, Finnish broadsheet Helsingin Sanomat reported Saturday, citing anonymous sources.
Nokia Siemens will provide details about talks with its employees this week, the ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
During his Google+ hangout Pres. Obama tells a woman that her husband shouldn't be unemployed from the growth he has seen in the economy. Obama said he finds it "interesting" because he is getting "the word" that someone in her husband's job field "should be able to find something right ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
The government faces a fourth year of trillion-plus deficits in 2012, according to new projections released Tuesday—numbers which also show little relief in the future unless Washington comes to grips with needed changes in its tax and spending policies.
Like Aunt Cassandra coming down from the attic, the Congressional Budget Office ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
East Penn Manufacturing Co. Inc. initiated a temporary layoff of 174 people locally last week, beginning Thursday and continuing into Friday, said Robert Harrop, vice president of personnel.
The layoff affected the automotive battery production plant only, Harrop added.
Harrop said the company reviewed forecasts and found that demand for automotive battery ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
Tellabs Inc. has succumbed to increasing market pressure and initiated a restructuring process that will see the company focus on its packet optical products, mobile backhaul systems and Service Provider Information Technology (SPIT) capabilities.
As a result of the downsizing, about 530 staff (around 16 percent of its total headcount) will ...
Posted in cc | No Comments »
Tuesday, January 31st, 2012
American Airlines' parent is meeting with its unions this week to lay out cost cuts it wants to implement as part of its bankruptcy reorganization -- moves that could cost many of the company's 81,000 workers their jobs and a portion of their pension benefits.
AMR Corp. said at the time ...
Posted in cc | No Comments »
Monday, January 30th, 2012
CBS News' Sharyl Attkisson takes a look at 11 more Solyndras that were part of Obama's Energy program. Attkisson was one of the original reporters that uncovered the Solyndra scandal.
CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in ...
Posted in cc | No Comments »
Monday, January 30th, 2012
The Congressional Budget Office found Monday that federal workers are compensated 16 percent more than comparable private-sector workers on average.
The finding is bound to inflame disputes between Republican and Democrats as to how much to reduce the deficit by cutting federal worker pay.
"While millions of Americans continue to struggle with ...
Posted in cc | No Comments »
Monday, January 30th, 2012
Spain's fourth-largest airline Spanair has collapsed, leaving more than 20,000 passengers stranded across Europe and Africa.
The Barcelona-based firm stopped operating on Friday and more than 200 flights were abruptly cancelled.
The Spanish government is taking legal action and said Spanair could be fined 9m euros (£7.6m; $11.9m) over the collapse.
In 2010, ...
Posted in cc | No Comments »
Monday, January 30th, 2012
The U.S. Treasury Department boosted its estimate of government losses in the $85 billion auto bailout by $170 million.
In the government's latest report to Congress this month, the Treasury upped its estimate to $23.77 billion, up from $23.6 billion.
Last fall, the government dramatically boosted its forecast of losses on the ...
Posted in cc | No Comments »
Monday, January 30th, 2012
For 100 years, a hardware store has stood on the corner of Monroe and Indiana. In a matter of months, that will change; Stewart's True Value Hardware is closing up shop.
Stewart's is the kind of place you pass by and always assume will be there. The kind of store that ...
Posted in cc | No Comments »
Monday, January 30th, 2012
After 30 years of being one of Hyattsville’s staple grocery stores, the Safeway on Hamilton Street is closing Feb. 4, and residents and community leaders are hoping its replacement can better suit their needs.
“Although it’s always unfortunate to see a business close locally, it seems to me that Safeway had ...
Posted in cc | No Comments »
Monday, January 30th, 2012
A Scottsdale Best Buy is preparing to close up shop for good by February.
The location near 90th street and Shea Blvd will temporarily close Sunday and reopen Feb. 2 for an inventory clearance sale, according to a company spokesperson. The store will remain open until Feb. 14.
"Hard decisions need to ...
Posted in cc | No Comments »
Monday, January 30th, 2012
A Glastonbury pizza shop has closed its doors after 46 years.
Gino’s Pizza served its last slice this weekend.
Michael Procaccini said closing his pizza shop is the end of a Glastonbury era.
“I appreciate and thank all of my loyal customers and they're also friends. And they'll miss us as much as ...
Posted in cc | No Comments »
Monday, January 30th, 2012
Jessie James, the women's clothing boutique at 503 Washington Street, will close its Hoboken location for good on Sunday, January 29.
The store has been open since 2006. According to one of the managers, who asked to remain nameless, Jessie James is closing its brick and mortar location in Hoboken to ...
Posted in cc | No Comments »
Monday, January 30th, 2012
Pelco by Schneider Electric has indicated it could layoff as many as 170 employees soon.
The Clovis manufacture recently sent the city of Clovis a letter, letting officials know they planned a workforce reduction. According to the Clovis city manager, the layoffs could impact anywhere from four to 172 employees.
"Clovis is ...
Posted in cc | No Comments »
Monday, January 30th, 2012
Low cattle supplies in 2012 are expected to drive up beef prices for the second year in a row, stretching consumers still coping with high unemployment and only modest wage increases.
The Agriculture Department reported Friday there were about 91 million head of cattle in the U.S. on Jan. 1, ...
Posted in cc | No Comments »
Monday, January 30th, 2012
Attention college students: The interest rate on federal student loans is scheduled to double this summer.
Loans taken out for the current school year carried an interest rate of 3.4%, thanks to a 2007 law that phased in rate reductions for subsidized Stafford loans to undergraduate students. But the law did ...
Posted in cc | No Comments »
Monday, January 30th, 2012
If you apply for a passport, the IRS will know. It’s not clear how the IRS uses this data, although my guess is for data verification plus perhaps information gathering for later collection efforts. The IRS has released proposed regulations to ramp up the information the IRS receives to better ...
Posted in cc | No Comments »
Sunday, January 29th, 2012
The number of unemployed people in Spain passed the five-million mark in the fourth quarter of 2011, according to government figures.
The country’s National Statistics Institute reported that 5.27- million people were jobless at the end of December, up from 4.9 million in the prior quarter. That translated into an unemployment ...
Posted in cc | No Comments »
Sunday, January 29th, 2012
Layoffs are in store for 101 employees of The City’s now-defunct Redevelopment Agency, although some will likely find new positions in San Francisco government.
A state Supreme Court decision in late December appears to be the final nail in the coffin for the state’s nearly 400 redevelopment agencies — the boards ...
Posted in cc | No Comments »
Sunday, January 29th, 2012
Consumers think the Volt costs too much and that's why a lot of shoppers avoid the plug-in hybrid, according to the study. When people decide to skip over the Leaf or Prius, the most cited reason is the styling is unattractive.
Other shoppers said the Volt's and Leaf's diminutive cabins and ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
French President Nicolas Sarkozy will announce tax rises Sunday, including a hike of 1.6 percentage points in value-added sales tax on goods and services, government sources said.
The aim is to shift the burden of paying for social security from employers to consumers in a reform, condemned by opposition socialists, that ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
A maker of children's electrolytes, female hygiene products and enemas plans to lay off 175 employees at its plant here.
Perrigo Co. (Nasdaq: PRGO) of Allegan, Mich., told the Florida Department of Economic Opportunity the layoffs will take place from April 1 through June 30 at its facility at 2201 Fourth ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
More than 500 jobs were on the line at Serco yesterday after the outsourcer which makes its money by cutting its customers' costs took a look at its own wage bill.
Serco, which runs swathes of British public-sector services, including prisons, the Docklands Light Railway and the Boris Bike scheme, said ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
Spanair SA, the Spanish airline involved in a crash that killed 154 people in 2008, ceased operations after Qatar Airways Ltd. halted takeover talks and the regional government refused to provide further funding.
The final flight landed at about 10 p.m. yesterday, the Barcelona-based carrier said in an e-mailed statement, citing ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will ...
Posted in cc | No Comments »
Saturday, January 28th, 2012
Oh, Netflix. After the online film rental and streaming company announcing last year that they would create a separate company called Qwikster that would handle all of their DVD and Blu-Rays, as well as promising “to keep DVD as healthy as possible for as many years as possible,” as ...
Posted in cc | 1 Comment »
