Immelt’s appointment has labor leaders concerned
Jeffrey Immelt’s appointment by President Obama to head his new White House economic council has some labor leaders concerned, given the perception that the boss of General Electric (NYSE: GE) is hostile to the union movement and is committed to outsourcing American jobs to foreign (cheaper) workers.
Boparan makes 11th hour bid for Northern Foods
Ranjit Singh Boparan has offered to purchase Northern Foods for 73 pence per share, or 341-million pounds sterling, outbidding rival Greencore for the Goodfella's pizza brand owner.
NYC jobless rate dips, but only because more people gave up looking for work
While it’s true that New York City’s unemployment rate declined to its lowest level in more than a year-and-a-half, it’s primarily due to the troubling reality that increasing numbers of people in Gotham have simply given up looking for work.
NYC Mayor threatens massive layoffs amidst pension reform crisis
As the battle over pension reform in cash-starved cities and states intensified, the Mayor of New York City fired another salvo by threatening municipal unions with huge layoffs if they don’t cooperate with his sweeping proposals to overhaul the system.
Union membership plunging in the U.S.
According to The Bureau of Labor Statistics, the percentage of unionized American workers dropped to 11.9 percent from 12.3 percent, with the loss of 612,000 members in 2010.
In 2008, unions lost 771,000 workers.
Officials working quietly to allow states to go bankrupt: NYT
Washington policymakers are seeking to make it easier for states to declare bankruptcy and escape the burdensome debt that they labor under, often exacerbated by generous pensions paid out to retired public employees.
Namath family rooting for Steelers over Jets
Joe Namath may be the greatest icon in New York Jets history, but since he’s originally from the Pittsburgh area, his family members will be rooting for the Steelers in this Sunday’s AFL Championship games.
Amidst sea of red ink nationally, Omaha delivers budget surplus
While states and cities across the country are slashing spending in an effort to tackle mountainous budget deficits, at least one major American city can brag of a budget surplus.
Buffet resigns from Washington Post board
Shares of Washington Post Co. (NYSE: WPO) suffered a brief sell-off yesterday afternoon when it was revealed that renowned billionaire investor Warren Buffett was resigning from the company’s board after three decades of service.
French court convicts Bronfman, Messier in case related to Vivendi bankruptcy
A court in France has fined Edgar Bronfman Jr., the chairman of Warner Music Group,5-million euros ($6.7-million) on criminal charges related to the prior bankruptcy of Bronfman’s former company, media conglomerate Vivendi Universal.
GE chief Immelt to head new White House economic panel
Jeffery Immelt, the chief executive of General Electric (NYSE: GR) will head a new advisory panel formed by President Barack Obama designed to promote economic growth in the country.
Australians may face one-time tax to pay for flood costs
Australians may be hit with a one-time “flood tax” to help pay for the damages wrought by the devastating floods in Queensland and Victoria.
Stocks edge down, despite benevolent economic data
Stocks closed modestly lower, but well above intra-day lows, as the tech sector incurred the heaviest losses on fears of Chinese interest rate hikes.
COLUMN: Dear Baroness Warsi: We’re all Muslims!
Many (perhaps most) Westerners simply make no distinction between Muslim, Hindu or Sikh; or even much of a distinction between Indians, Pakistanis, Arabs or Iranians.
Freddie Mercury: The world’s first Indian rock star
One of the greatest, most popular and iconic rock-and-roll stars of all-time was of Indian descent – Freddie Mercury, the charismatic (some would sneer over-theatrical) lead singer of British music group Queen.
After signing pact with China, Boeing lays off 1,100 U.S. workers
Just one day after signing a huge contract to sell aircraft to China, Boeing (NYSE: BA) said it will lay off about 1,100 U.S, workers involved in the manufacture of its C-17 military-cargo aircraft through the end of next year.
New York City Mayor seeks to reform pension plans to tackle huge budget deficit
Mayor Michael Bloomberg warned that if the city of New York does not start tackling its budget deficit problems now, they could haunt the city for decades.
New York governor may slash up to 15,000 state jobs
New York Governor Andrew Cuomo may consider eliminating up to 15,000 state workers in a bid to reduce the state's $9 billion budget gap.
Happy Birthday, Doctor McCoy
Today would have been the 91st birthday of TV and film actor, DeForest Kelley, who attained everlasting fame as the down-to-earth, sardonic Doctor Leonard ‘Bones’ McCoy on the classic “Star Trek” television series.
Michelle Obama joins with Wal-Mart in promoting healthier foods
Wal-Mart (NYSE: WMT) has introduced a program to promote healthy, affordable foods, in a measure backed by First Lady Michelle Obama’s efforts to reduce childhood obesity.
Bangladesh investors again riot after sharp market plunge triggers trading halt
Bangladesh investors rioted on the streets of Dhaka after regulators halted trading on the country’s stock exchanges after only five minutes following the start of the trading day.
COLUMN: Kennedy and the Mafia, an enduring fascination
The relationship between organized crime and the Kennedy Family remain a permanent fixture in any discussion of the famous – some would say, infamous – Massachusetts Irish clan.
Sky high interest rates in Brazil puts upward pressure on real
The central bank of Brazil raised its key interest rate by 50 basis points to 11.25 percent to help cool down its supercharged economic growth.
Irish PM Cowen calls for March 11 election
Embattled Irish Prime Minister Brian Cowen said that he intends to dissolve parliament and call a general election for March 11.
Stocks slide on weak bank profits
Stocks sold off as disappointing results from Goldman Sachs (NYSE: GS) dragged down the financial services sector, as the indices endured their worst one-day price drop since November.
Condoleezza Rice rules out running for public office
Former Secretary of State Condoleezza Rice has no plans to run for public office, according to an interview that will air tonight on CNN.
Texas unveils austere budget to tackle huge deficit
Lawmakers in Texas have unveiled a new state budget that will eliminate $31-billion in spending in order to close the state's budget, which is estimated to be as high as $27-billion.
Youth unemployment in UK reaches record high
While data this morning from Britain’s Office National Statistics showed that the country’s overall unemployment rate remained unchanged at about 7.9 percent in November, the report revealed something quite unsettling – joblessness among youth jumped to a record high of almost 1-million.
Jordan unveils economic package to prevent Tunisia-type of unrest
In an effort to prevent the kind of unrest currently engulfing Tunisia, the government of Jordan has unveiled a $230-million economic package to help the nation’s poor by cutting the prices of essential consumer goods and by creating jobs.
Colts prepared to make Manning highest-paid player in NFL history
The Indianapolis Colts have started negotiations with Peyton Manning that will likely make the superstar quarterback the highest-paid player in the history of the NFL.
