By Doug Cunningham
After intense unions objections, the $87 million in executive bonuses for Delphi executives has been slashed to $16.5 million. Delphi declared bankruptcy last year and its workers were forced to sacrifice. The IUE-CWA and other unions objected to the huge bonus payouts. IUE-CWA President Jim Clark says it’s a gratifying symbolic victory that the judge recognized the overwhelming greed in throwing huge cash payments to executives who ran Delphi into bankruptcy.
Economic Report:
By Jesse Russell
California saw a surge in the number of homeowners missing mortgage payments during the last quarter of 2007. 12.4 percent more default notices were sent to homeowners than the previous quarter and it is the highest on record since 1992. During that same fourth quarter 31, 676 homes foreclosed – up 31 percent from the quarter previous.
Economic Report:
By Jesse Russell
California saw a surge in the number of homeowners missing mortgage payments during the last quarter of 2007. 12.4 percent more default notices were sent to homeowners than the previous quarter and it is the highest on record since 1992. During that same fourth quarter 31, 676 homes foreclosed – up 31 percent from the quarter previous.
By Jesse Russell
Any progress in employee healthcare at Wal-Mart is good news. The word’s largest retailer reported on Tuesday that more than half of the company’s workers are now enrolled in the company’s health insurance plan. Wal-Mart recently revised its health plan to make it more affordable to employees. The company has consistently been under fire for not utilizing more of its profits to help cover more employees. Still, many critics say the new plan is still unreachable for many workers who earn on average $20,000 per year.
By Jesse Russell
Any progress in employee healthcare at Wal-Mart is good news. The word’s largest retailer reported on Tuesday that more than half of the company’s workers are now enrolled in the company’s health insurance plan. Wal-Mart recently revised its health plan to make it more affordable to employees. The company has consistently been under fire for not utilizing more of its profits to help cover more employees. Still, many critics say the new plan is still unreachable for many workers who earn on average $20,000 per year.
There is little reason for workers to say Yahoo! at internet giant Yahoo. Jesse Russell reports:
The Mercury News is reporting the internet company Yahoo is planning to slash 25 percent of it’s workforce – nearly 3500 jobs – in an attempt to compete with rival Google. However, according to reports, the company could also be hiring new workers that have skills in areas Yahoo is currently lacking. In an email statement the company said it plans to “invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don’t support the company’s priorities.
There is little reason for workers to say Yahoo! at internet giant Yahoo. Jesse Russell reports:
The Mercury News is reporting the internet company Yahoo is planning to slash 25 percent of it’s workforce – nearly 3500 jobs – in an attempt to compete with rival Google. However, according to reports, the company could also be hiring new workers that have skills in areas Yahoo is currently lacking. In an email statement the company said it plans to “invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don’t support the company’s priorities.
By Doug Cunningham
The FAA wants to fire air traffic controller trainee Robert Vance because his California National Guard duty has been extended. Vance is threatened with being fired despite the fact that the FAA approved a leave without pay for Vance to serve the military. Vance says it’s not right and the FAA shouldn’t be punishing him for his military service.
[Vance]: “I feel, I feel it’s a real mis-justice. Before I ever left the FAA to go do my military duty I had sent my orders in to them to ask ‘Does this meet all the requirements?’, so I can leave and protect seniority, my job right and my job and also my retirement and everything. And I was told yes. And I was gone for way over a year before I heard anything negative about anything on that.”
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