Economic Report:

By Jesse Russell

The real estate market said “ouch” on Thursday when new data was released showing a staggering 94 percent increase in foreclosures over the same time in 2006. According to RealtyTrac that amounts to one filing per every 555 U.S. households. Nevada was hit the hardest with one filing for every 154 households. California was second followed by Florida.

Nike workers in Vietnam are taking poor factory conditions into their own hands as they launch a massive strike. Jesse Russell reports:

More than 10,000 workers are said to be on strike at a factory roughly 35 miles North of Ho Chi Minh City. They walked off the job on Tuesday seeking holiday bonuses, severance pay, more sick days, and better lunches provided in the factory’s cafeteria. According to the provinces Labour Federation they are investigating workers grievances and it is currently unknown when workers will be returning the production line. Footwear is Vietnam’s third largest export.

By Jesse Russell

With the possibility of a railway strike looming in February, a Presidential Emergency Board has been created to handle disputes between Amtrak and union representing railway workers. More than 6000 workers are represented by at least seven unions under the banner of the Railway Labor Bargaining Coalition. The dispute between Amtrak and the employees has been ongoing for eight years and with the negotiations out of steam the board was created to help resolve ongoing issues within 30 days.

By Doug Cunningham

The United Steelworkers union says since 15 workers were killed and 180 injured in the British Petroleum explosion and fire in Texas City, Texas in 2005 the industry response to safety hazards pervasive in U.S. oil refineries has been anemic. USW President Leo Gerard says a new union survey of safety practices at U.S. refineries shows there’s an alarming potential for future disasters and companies need to work with the union on a comprehensive overhaul of oil refinery safety practices.

[Gerard]: “It's a wake-up call to the industry and as the United Steel Workers we're prepared to work hand in hand with them to improve the safety

Economic Report:

By Jesse Russell

Do you shop while at work? A new Workplace Snapshot from Spherion found that one-third of workers shop for gifts online from work. The study found that 59 percent of women spend more than 15 minutes shopping online at work compared to 52 percent of men who spend less than 15 minutes. And many workers don’t feel it is a big deal. 32 percent of respondents said it is acceptable to shop from work computers.

By Doug Cunningham

A Securities and Exchange Commission ruling Wednesday attacked the rights of shareholders to nominate corporate directors. AFL-CIO President John Sweeney says at a time when the need for strong, independent corporate directors is more critical than ever, the SEC has taken away an important shareholder right to have a voice on corporate governance issues. The SEC, Sweeney says, should be moving aggressively to protect investors, not to take away their rights.

By Doug Cunningham

The Broadway strike is over. The union representing stagehands says the tentative agreement is equitable for everyone involved. The strike hit producer’s where they felt it – cutting box office revenue for Thanksgiving week shows from $23.3 million last year to just $4.29 million this year. Stagehands will vote on the new five year deal over the next ten days.