Economic News Clips Dec 10 - 12 : Economics & Finance

Economic News Clips Dec 10 - 12

First unread post • 4 posts • Page 1 of 1

Economic News Clips Dec 10 - 12

by bratticus » Sat 13 Dec 2008, 07:32:29

$this->bbcode_second_pass_quote('', '[')u]Executions at 14-year low as costs rise
... EXPENSIVE "LUXURY" IN TOUGH TIMES...

$this->bbcode_second_pass_quote('', '[')u]These days, couples can't afford to divorce
... "A litigated divorce could cost anywhere from the low end of $20,000 to a high end of $200,000 or more," said divorce attorney Aaron Dishon, managing partner at Irvine-based Dishon & Block....

$this->bbcode_second_pass_quote('', '[')u]Sick suburb
... The median sales price for existing homes in Manassas plunged from $257,825 in November 2007 to $124,000 in November 2008, according to data released Wednesday by Metropolitan Regional Information Systems Inc....

$this->bbcode_second_pass_quote('', '[')u]When the nanny has to be let go
... She says her employers tearfully informed her that her $1,000-a-week position is being eliminated. "They told me they had to cut expenses 75%," says Ms. Jacobo, whose employer declined to be interviewed. "I am heartbroken."...

$this->bbcode_second_pass_quote('', '[')u]Broadcasting gloom
... Instead of the usual parade of expensive ads paying tribute to American consumerism, 2009’s Super Bowl will reflect a country in recession and herald a grim year for the advertising industry....

$this->bbcode_second_pass_quote('', '[')u]Bring back test patterns
... The head of NBC told an investor conference Monday that his network may have to cut back on its programming. "Can we continue to program 22 hours of prime-time? Three of our competitors don't. Can we afford to program seven nights a week? One of our competitors doesn't," he said....

$this->bbcode_second_pass_quote('', '[')u]Workers Pay For Insurance, Receive No Benefits
... Gurba said that he told the workers he was cutting their health insurance. But the workers said that they had no warning....

$this->bbcode_second_pass_quote('', '[')u]'Day Without A Gay' sees limited participation
... Several gay and lesbian people said they couldn't afford to take the day off and were concerned about their jobs....

$this->bbcode_second_pass_quote('', '[')u]Slowdown In China Gets Worse, Increasing Global Woes
... Crude oil imports were down 1.8% to their lowest level this year, contributing to weakening global oil demand.... [and colder weather due to reduced greenhouse gases]

$this->bbcode_second_pass_quote('', '[')u]US: Agriculture industry struggling
... She said the company has kept rainfall records since 1925 and found 2008 to be the driest year on record, 35 percent drier than the previous low in 1926... [fixed due to reduced greenhouse gases]

$this->bbcode_second_pass_quote('', '[')u]US commercial paper issuance jumps $48.6 billion
... Commercial paper outstanding stood at $1.7 trillion, up $48.6 billion but still far smaller than it was before the housing crash dragged down the financial sector....

$this->bbcode_second_pass_quote('', '[')u]White House: US can't stand fall of auto industry
... Perino said Thursday that the economy is in such a weakened state that adding another 1 million people to the unemployment rolls from an auto industry failure is not possible. She said: "We don't think the economy can sustain it."...

$this->bbcode_second_pass_quote('', '[')u]Auto Bailout Appears Dead in Senate as G.O.P. Resists
... The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize Thursday morning as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively dooming its chances despite the urgings of the White House....

$this->bbcode_second_pass_quote('', '[')u]Greece shattered as shops count cost of riots
... Newspapers of all political persuasions said the police force was "in ruins" and "the state had thrown down its arms" in the face of the young rioters....

$this->bbcode_second_pass_quote('', '[')u]Oklahoma State Is Officially Screwed
... Officials were told that actually, the entire $ 165 million donation, and the earnings, which once inflated the gift to over $300 million, had recently been eliminated by margin calls due to drastically falling oil prices....
$this->bbcode_second_pass_quote('', '[')u]Ainsworth Lumber extends shutdown of Minn. plants
... Ainsworth Lumber Co. has extended the shutdown of its oriented strand board plants in Bemidji and Cook into the foreseeable future, putting 280 people out of work....

$this->bbcode_second_pass_quote('', '[')u]Milacron cuts 90 jobs, extends holiday shutdown
... The Cincinnati-based maker of plastics-processing machinery has been struggling to return to profitability for years amid a slump in U.S. manufacturing activity....

$this->bbcode_second_pass_quote('', '[')u]Wabash Nat. to lay off 800 after holiday shutdown
... The Lafayette-based truck-trailer manufacturer said Wednesday its traditional production shutdown from Christmas to New Years would instead last through Feb. 3. After that, about 800 workers will remain laid off until sometime in the second quarter of 2009....

$this->bbcode_second_pass_quote('', '[')u]GM Powertrain Plant in Massena Extending Shutdown Three More Weeks
... Sources at the plant are now speculating that the extended shutdown could be the beginning of the end for the plant....

$this->bbcode_second_pass_quote('', '[')u]GM will idle 30 percent of plants in first quarter, including Fairfax
... "This is directly related to the collapse of the automobile market," Sapienza said. "It's affecting all automotive manufacturers, not just General Motors."...

$this->bbcode_second_pass_quote('', '[')u]Cami to shut down for three weeks
... "People will be spending less and there are just less dollars to spend right now. It will affect everything from groceries to Christmas gifts," [Van Boekel, Cami CAW chairperson] said....

$this->bbcode_second_pass_quote('', '[')u]Honda Widens North American Output Cuts by 119,000
... Honda Motor Co. is cutting 119,000 vehicles from its North American production plan, tripling its reduction for this fiscal year as plunging sales push U.S.-based competitors to the brink of collapse....

$this->bbcode_second_pass_quote('', '[')u]BorgWarner cuts 2008 earnings prediction
... "The downward spiral of the auto industry continues to accelerate across the globe," Timothy Manganello, the company's chairman and chief executive, said in a statement....

$this->bbcode_second_pass_quote('', '[')u]HC&S idles 700 workers for week
... Facing the worst drought in its history and a 25 percent loss in sugar production, Hawaiian Commercial & Sugar Co. is furloughing 700 workers for a week, "from the manager to the janitor."...

$this->bbcode_second_pass_quote('', '[')u]Layoffs extend to Thomasville Furniture in Appomattox
... The plant is one of the largest employers in Appomattox County....

$this->bbcode_second_pass_quote('', '[')u]Hutchinson Technology Announces Restructuring Plan, To Reduce Workforce by 20-25%
... Tuesday, Hutchinson Technology Inc., a manufacturer of suspension assemblies for disk drives, announced a restructuring plan including a 20-25% reduction of its workforce....

$this->bbcode_second_pass_quote('', '[')u]Bombardier Recreational laying off one-fifth
... The power sports industry is among those hit hard by the global economic recession, causing Bombardier Recreational Products to layoff about a fifth of its workforce -- or about 100 jobs....

$this->bbcode_second_pass_quote('', '[')u]Area mill struck with another shutdown
... The economy continues its assault on the region's economy as Abitibi-Bowater announced another shutdown of its Thunder Bay newsprint mill....

$this->bbcode_second_pass_quote('', '[')u]Gallipolis GKN Plant to Close Temporarily
... The GKN Sinter Metals plant in Gallipolis will undergo a holiday shutdown....

$this->bbcode_second_pass_quote('', '[')u]Intertape Polymer Responds to Current Economic Conditions
... Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use....

$this->bbcode_second_pass_quote('', '[')u]Woolworths is Picked Clean in Shutdown Sale
... Shoppers flocked to Woolworths stores yesterday at the start of closing-down sales, emptying shelves and snapping up bargains, as thousands of shopworkers faced the axe....

$this->bbcode_second_pass_quote('', '[')u]Company Tells 800 Not To Return After Holiday Break
... Wabash National is reducing its workforce for an extended period of time, citing decreasing demand for its products....

$this->bbcode_second_pass_quote('', '[')u]Whirlpool seeking 150 more voluntary layoffs
... The slowdown in refrigerator sales is hitting home again at Whirlpool's Middle Amana plant....

$this->bbcode_second_pass_quote('', '[')u]Vauxhall offers workers 8 months off for 30% pay
... Fears over the future of the 5,500 workers accelerated today after the US Senate last night refused to back a $14 billion bailout fund for America's "Big Three" carmakers - GM, Chrysler and Ford....

$this->bbcode_second_pass_quote('', '[')u]Hundreds Losing Jobs at KraftMaid in West Jordan: Collateral Damage -- Impact of Layoff Could Spread
... With KraftMaid Cabinetry now planning to mothball its plant here on Prosperity Road just two days before Christmas, city officials may want to consider renaming the street -- perhaps to Hard Luck Boulevard....

$this->bbcode_second_pass_quote('', '[')u]Would you take a pay cut to save your job?
... The news that the 25,000 strong workforce of steelmaker Corus have offered to take a 10% pay cut has prompted the question, would you take a pay cut to save your job?...

bratticus