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06 May 2009 11:06

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Biz, U.S.: The Boston Globe reaches a deal with its last union

  • Crisis averted. Cuts made. Hands shaken. The Boston Globe, which nearly faced a death march this week, narrowly avoided it by getting six of its seven unions to agree to price cuts and a relaxing of a job guarantee policy which was the sticking point. The largest union, the Boston Newspaper Guild, which represents the newsroom, wouldn’t budge on the job security front. An agreement was met last night, but no word – yet – on whether they got to keep job security. source
Posted by Ernie Smith • 0 Comments • Permalink

06 May 2009 10:55

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Biz: Ford invests lots of money into its long-term future

  • $550 million in plant upgrades to improve its Focus source
Posted by Ernie Smith • 0 Comments • Permalink

06 May 2009 10:34

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Biz, U.S.: A good chunk of homeowners are swimming in debt

  • 21.8% of all homeowners – almost 20 million – owe more than their homes are actually worth source
Posted by Ernie Smith • 0 Comments • Permalink

06 May 2009 01:12

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Biz, U.S.: Stress test sez: Bank of America needs a massive shot in the arm

  • $33.9 billion to cushion from an economic fall source
Posted by Ernie Smith • 0 Comments • Permalink

05 May 2009 12:26

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Biz, Tech: Today’s juicy rumor: Apple to buy Twitter??! WTF!?!?

  • $700 million asking price for the uber-popular startup source
Posted by Ernie Smith • 0 Comments • Permalink

05 May 2009 10:36

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Biz, U.S.: Here’s a Cinco de Mayo quote worth celebrating from Ben Bernanke

  • We expect economic activity to bottom out, then to turn up later this year.
  • Federal Reserve chair Ben Bernanke • On his forecast for the economic recovery, which he says should be coming soon. Hoo-ray! • source
Posted by Ernie Smith • 0 Comments • Permalink

05 May 2009 10:18

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Biz, U.S.: The stress tests on banks show some structural weaknesses

  • 10 of 19 big banks tested flunked with flying colors, need more $$$ source
Posted by Ernie Smith • 0 Comments • Permalink
 

05 May 2009 09:04

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Biz, U.S.: Obama: The Cayman Islands are nice, but not as a tax haven

  • I want to see our companies remain the most competitive in the world. But the way to make sure that happens is not to reward our companies for moving jobs off our shores or transferring profits to overseas tax havens.
  • Barack Obama • Putting the fear of God yesterday into large corporations who have done this for years in an attempt to avoid U.S. taxes. Obama plans to put billions of dollars to work over the next decade – much of it in the form of IRS employees – to prevent tax havens. • source
Posted by Ernie Smith • 0 Comments • Permalink

04 May 2009 19:37

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Biz: Why was the Boston Globe in danger? Huge losses.

  • $85 million in losses this year – a huge chunk of change source
Posted by Ernie Smith • 0 Comments • Permalink

04 May 2009 19:29

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Biz: Deals were made, hands were shaken, The Boston Globe lives for now

  • Six of the paper’s seven unions agreed to cuts. The largest didn’t. The Globe, which looked off a cliff last night at the bottom and didn’t like the view, has apparently succeeded in getting enough concessions to stay afloat for the moment. The paper had set a May 1st deadline to get their unions to agree to $20 million in cuts. The only union that didn’t agree was the largest, the Boston Newspaper Guild. At issue are salary cuts and benefits such as lifetime job guarantees, which seem not so smart now that the paper’s bleeding money. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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