ContractCentral Blog

Sub-Zero To Lay Off 100 Employees

February 1, 2012 – 9:41 am

Sub-Zero Inc. has notified the state that it will lay off about 100 employees. The Madison-based premium appliance company notified the Wisconsin Department of Workforce Development on Tuesday that approximately 100 employees will be affected on or about April 2, with ...

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IBM Could Trim 8,000 Jobs, According to Labor Union

February 1, 2012 – 9:40 am

International Business Machines Corp. may be planning to eliminate about 8,000 jobs in Germany, said Bert Stach, who represents labor union Ver.di in negotiations with the U.S. company. “I don’t expect IBM to cut these jobs through mass layoffs, but instead ...

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Yahoo Lays Off Flickr Customer Service Team, 12% of Staff

February 1, 2012 – 9:39 am

When Flickr Product Chief Markus Spiering wrote a couple weeks ago about things that were being discarded as part of a “New Year’s cleaning,” there was no mention it would include the site’s core customer service team. But at least ...

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McDonald’s drops use of gooey ammonia-based ‘pink slime’ in hamburger meat

February 1, 2012 – 7:56 am

McDonald's confirmed that it has eliminated the use of ammonium hydroxide — an ingredient in fertilizers, household cleaners and some roll-your-own explosives — in its hamburger meat. The company denied that its decision was influenced by a months-long campaign by ...

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S&P Warns Of Another U.S. Downgrade

February 1, 2012 – 7:53 am

David Owen, Chief European Economist at Jefferies International believes the U.S. will face another downgrade, but that its impact will again be limited. “Is the U.S going to be downgraded again? We think so,” he told CNBC on Tuesday. “Our general ...

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CBO says REAL unemployment is 10%

January 31, 2012 – 12:07 pm

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 ...

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CBO: Jobless rate will average 8.9% in 2012

January 31, 2012 – 12:04 pm

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 ...

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Sun Pacific will permanently lay off 2,100 employees

January 31, 2012 – 10:56 am

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 ...

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Nokia Siemens plans 1,300 job cuts

January 31, 2012 – 10:54 am

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 ...

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Obama Tells Woman It Is "Interesting" Her Unemployed Husband Can’t Find Job

January 31, 2012 – 10:47 am

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 ...

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China Buys 735 TONS of Gold since 2010

January 31, 2012 – 10:37 am

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 ...

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Obama runs up another Trillion Dollar deficit

January 31, 2012 – 10:33 am

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 ...

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East Penn lays off 174 workers

January 31, 2012 – 10:30 am

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 ...

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Tellabs to Restructure, Cut 530 Jobs

January 31, 2012 – 10:28 am

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 ...

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American Airlines to lay out cuts affecting 81,000 workers

January 31, 2012 – 10:25 am

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 ...

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CBS News uncovers 11 More Solyndras in Obama Energy Program

January 30, 2012 – 8:40 pm

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 ...

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UNFAIR: Federal workers better compensated than in private sector

January 30, 2012 – 4:44 pm

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 ...

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Spanish airline suddenly collapses, stranding 20,000

January 30, 2012 – 4:42 pm

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 ...

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Treasury ups auto bailout loss estimate to $23.77 billion

January 30, 2012 – 4:41 pm

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, ...

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After 100 years, True Value Hardware is closing its doors

January 30, 2012 – 10:00 am

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 ...

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Safeway to be replaced with Hispanic Supermarket

January 30, 2012 – 9:56 am

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 ...

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Scottsdale Best Buy closing

January 30, 2012 – 9:53 am

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 ...

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Gino’s Pizza Closes After 46 Years

January 30, 2012 – 9:52 am

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 ...

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Jessie James to Close Clothing Store

January 30, 2012 – 9:51 am

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 ...

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Pelco to layoff 170 employees in March

January 30, 2012 – 9:48 am

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 ...

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Retail beef prices will likely rise 4% to 5% this year following a 10% increase in 2011

January 30, 2012 – 9:47 am

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 ...

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Federal student loan interest rate set to double

January 30, 2012 – 9:44 am

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 ...

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IRS will know if you Apply for a Passport

January 30, 2012 – 9:42 am

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 ...

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Spain unemployment passes 22.8 percent

January 29, 2012 – 2:40 pm

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 ...

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San Francisco Revelopment Agency to Layoff 101 workers

January 29, 2012 – 9:28 am

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 ...

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Buyers reject Chevrolet Volt’s cost

January 29, 2012 – 9:27 am

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 ...

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France to raise taxes — again

January 28, 2012 – 10:44 pm

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 ...

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Perrigo Co. to lay off 175

January 28, 2012 – 10:43 pm

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 ...

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