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05 Jun 2009 16:43

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Biz: An odd left turn: Car-racing-rooted Penske buys Saturn from GM

  • The car brand would have died without a buyer. Well, General Motors has one less brand to worry about. Just days after agreeing to sell Hummer to a Chinese company, they’ve found a suitor for another castoff, Saturn. Penske, owned by namesake former racer (and current NASCAR and Indy Car team owner) Roger Penske, will only distribute the brand and currently own no dealerships. Nor will they open any. The move, to be complete in October, would save 13,000 jobs and 300 dealerships. source
Posted by Ernie Smith • 0 Comments • Permalink

05 Jun 2009 09:32

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Biz, U.S.: New jobless claims may be dipping, but there’s a lot of old ones

  • 9.4% The current unemployment level, a 25-year high source
Posted by Ernie Smith • 0 Comments • Permalink

05 Jun 2009 02:15

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Biz: Why former Countrywide CEO Angelo Mozilo is a bad, bad man

  • $387 million Amount Angelo Mozilo made as Countrywide CEO between 2002 and 2006. He co-founded the company in 1969 and was seen as a rags-to-riches story. source
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2009 22:25

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Biz, Tech: GameStop takes a huge chunk of the pie. Game companies want it.

  • 48% GameStop’s profit margin on used games. WHOA! source
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2009 11:15

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Biz: Fast food places decide to get a bit riskier in their choices

  • This is a defining moment for the industry. The financial crisis has brought with it a redefining of boundaries.
  • Hudson Riehle • Research chief at the National Restaurant Association on how the recession has had the effect of making things like KFC grilled chicken, premium coffee at McDonald’s, value menus at Starbucks and subs at Domino’s the norm. Ten years ago, this kind of stuff would be unheard of. • source
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2009 10:29

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Biz, Politics: Why we all don’t want to work for Wal-Mart

  • 34 number of hours per week that constitute “full-time” at Wal-Mart; just about everywhere else, it’s 40 source
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2009 10:25

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Biz: Wal-Mart: Our new jobs will help the economy

  • During this difficult economic time, we’re proud to be able to create quality jobs for thousands of Americans this year.
  • Wal-Mart Stores Inc. Vice Chairman Eduardo Castro-Wright • On the company’s desire to create more jobs; many states will get boosts of 1,000 new jobs each. Sounds great, doesn’t it? • source
Posted by Ernie Smith • 0 Comments • Permalink
 

04 Jun 2009 10:11

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Biz: Eventually, we’re all going to work at Wal-Mart

  • 22,000+ new jobs being created by the ultra-massive big box retailer this year source
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2009 10:04

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Biz, U.S.: The job loss portion of the economic decline is petering out

  • -4,000 fewer job losses than last week source
Posted by Ernie Smith • 0 Comments • Permalink

03 Jun 2009 20:52

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Biz, U.S.: GM and Chrysler: We have to cut dealerships. HAVE. TO.

  • We have no choice. We’re all being called to sacrifice in order to build a strong, more viable GM. This is our last chance to get it right.
  • General Motors CEO Fritz Henderson • Regarding the need to cut dealerships at a Senate committee hearing today. Both GM and Chrysler are cutting enough dealerships that they’re going to screw small towns all over the country. Good for you guys. Jerks. • source
Posted by Ernie Smith • 3 Comments • Permalink
 
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