17,000 AT&T technicians and call center workers go on strike

California and Nevada workers allege offshoring and illegal job changes.

About 17,000 AT&T wireline technicians and call center employees went on strike in California and Nevada today while filing an unfair labor charge to the National Labor Relations Board (NLRB) alleging that AT&T violated federal law.

“The company has shown disrespect to the bargaining process by changing the work assignments of workers without bargaining as required by federal law,” the Communications Workers of America (CWA) union said in its strike announcement. “Further, AT&T reneged on an agreement to resolve the dispute without any explanation.”

The CWA said that AT&T “is asking its workers to do more for less—keeping them from their families with unpredictable overtime, undercutting pay and advancement, offshoring good jobs, and pushing more health care costs onto employees.”

Source: 17,000 AT&T technicians and call center workers go on strike

Sears Has Finally Admitted That It’s Almost Dead

This zombie retailer is on its deathbed.

Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it’s almost dead.

As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that “substantial doubt exists related to the company’s ability to continue as a going concern.” For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it’s unsure if it could stay in business. Well, duh.

Sears’ cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn’t grown since the credit boom lifted all ships in retail in 2006. The company hasn’t generated cash flow from its operations since 2006.

Source: Sears Has Finally Admitted That It’s Almost Dead

Happiness report: Norway is the happiest place on Earth – BBC News

It’s the international day of happiness – and the annual rankings have been published.

The world’s happiest – and saddest – countries
Happiest Least happy
1. Norway 146. Yemen
2. Denmark 147. South Sudan
3. Iceland 148. Liberia
4. Switzerland 149. Guinea
5. Finland 150. Togo
6. Netherlands 151. Rwanda
7. Canada 152. Syria
8. New Zealand 153. Tanzania
9. Australia 154. Burundi
10. Sweden 155. Central African Republic

Source: Happiness report: Norway is the happiest place on Earth – BBC News

Is the coal industry really roaring back to life under Trump? – LA Times

In his recent speech, President Trump said he had promised that “dying industries will come roaring back to life” – and then highlighted the boost he gave one such industry by blocking an environmental regulation “that threatens the future and livelihoods of our great coal miners.”

The move Trump referred to stopped an environmental rule meant to protect streams from pollution stemming from mining.

Source: Is the coal industry really roaring back to life under Trump? – LA Times

The full list of 138 J.C. Penney stores closing around the US – The Boston Globe

The company said that about 5,000 positions nationwide will be affected by the closures, most of which will occur in June.

Below is the list  of stores slated to close
Mall/Shopping Center City State
Auburn Mall Auburn AL
Tannehill Promenade Bessemer AL
Gadsden Mall Gadsden AL
Jasper Mall Jasper AL
Military Plaza Benton AR
Chickasaw Plaza Blytheville AR
Riverview Mall Bullhead City AZ
Downtown Bishop Bishop CA
Sunwest Plaza Lodi CA
The Village at Orange Orange CA
Hilltop Mall Richmond CA
Fort Morgan Main St. Fort Morgan CO
Glenwood Springs Mall Glenwood Springs CO
St. Vrain Centre Longmont CO
Broadway Plaza Sterling CO
Connecticut Post Mall Milford CT
Jacksonville Regional Shopping Center Jacksonville FL
Palatka Mall Palatka FL
Dublin Mall Dublin GA
Macon Mall Macon GA
Milledgeville Mall Milledgeville GA
Gateway Plaza Thomasville GA
Tifton Mall Tifton GA
Downtown Decorah Decorah IA
Crossroads Mall Fort Dodge IA
Penn Central Mall Oskaloosa IA
Quincy Place Ottumwa IA
Snake River Plaza Burley ID
Eastland Mall Bloomington IL
Fulton Square Canton IL
Village Square Mall Effingham IL
Freestanding Macomb IL
Peru Mall Peru IL
Northland Mall Sterling IL
Centerpointe of Woodridge Woodridge IL
FairOaks Mall Columbus IN
Connersville Plaza Connersville IN
Huntington Plaza Huntington IN
Jasper Manor Center Jasper IN
Logansport Mall Logansport IN
Chanute Square Chanute KS
Downtown Great Bend Great Bend KS
Hutchinson Mall Hutchinson KS
Freestanding Lawrence KS
Winfield Plaza Winfield KS
Cortana Mall Baton Rouge LA
Park Terrace DeRidder LA
North Shore Square Slidell LA
Berkshire Mall Lanesborough MA
Easton Marketplace Easton MD
Rockland Plaza Rockland ME
Lakeview Square Mall Battle Creek MI
Delta Plaza Escanaba MI
Westshore Mall Holland MI
Copper Country Mall Houghton MI
Birchwood Mall Kingsford MI
Midland Mall Midland MI
Cascade Crossings Sault Ste. Marie MI
Central Lakes Crossing Baxter MN
Five Lakes Centre Fairmont MN
Faribo West Mall Faribault MN
Irongate Plaza Hibbing MN
Hutchinson Mall Hutchinson MN
Red Wing Mall Red Wing MN
Downtown Thief River Falls Thief River Falls MN
Freestanding Winona MN
Maryville Center Maryville MO
Leigh Mall Columbus MS
Southgate Plaza Corinth MS
Greenville Mall Greenville MS
Bonita Lakes Mall Meridian MS
Oxford Mall Oxford MS
Capital Hill Mall Helena MT
Sidney Main Street Sidney MT
Albemarle Crossing Albemarle NC
Boone Mall Boone NC
Eastridge Mall Gastonia NC
Blue Ridge Mall Hendersonville NC
Monroe Crossing Monroe NC
Becker Village Mall Roanoke Rapids NC
Prairie Hills Mall Dickinson ND
Buffalo Mall Jamestown ND
Downtown Wahpeton Wahpeton ND
Fremont Mall Fremont NE
Downtown McCook McCook NE
Platte River Mall North Platte NE
Rio Grande Plaza Rio Grande NJ
The Boulevard Las Vegas NV
Dunkirk-Fredonia Plaza Dunkirk NY
Westfield Sunrise Massapequa NY
Palisades Center West Nyack NY
Findlay Village Mall Findlay OH
New Towne Mall New Philadelphia OH
Richmond Town Square Richmond Heights OH
St. Mary’s Square St. Marys OH
Altus Plaza Altus OK
Ne-Mar Shopping Center Claremore OK
Ponca Plaza Ponca City OK
Pioneer Square Shopping Center Stillwater OK
Astoria Downtown Astoria OR
Grants Pass Shopping Center Grants Pass OR
La Grande Downtown La Grande OR
Downtown Pendleton Pendleton OR
The Dalles Main Street The Dalles OR
Columbia Mall Bloomsburg PA
Clearfield Mall Clearfield PA
King of Prussia Mall King of Prussia PA
Philadelphia Mills Philadelphia PA
Bradford Towne Centre Towanda PA
Lycoming Mall Pennsdale PA
Willow Grove Park Willow Grove PA
Citadel Mall Charleston SC
Town ‘N Country Easley SC
Palace Mall Mitchell SD
Northridge Plaza Pierre SD
Watertown Mall Watertown SD
Yankton Mall Yankton SD
Greeneville Commons Greeneville TN
Knoxville Center Knoxville TN
County Market Place Union City TN
Athens Village Shopping Center Athens TX
Borger Shopping Plaza Borger TX
Heartland Mall Early TX
El Paso Downtown El Paso TX
Marshall Mall Marshall TX
McAllen Downtown McAllen TX
University Mall Nacogdoches TX
King Plaza Shopping Center Seguin TX
Bosque River Center Stephenville TX
New River Valley Mall Christiansburg VA
Tanglewood Mall Roanoke VA
Pilchuck Landing Snohomish WA
Pine Tree Mall Marinette WI
Marshfield Mall Marshfield WI
Richland Square Shopping Center Richland Center WI
Rapids Mall Wisconsin Rapids WI
Foxcroft Towne Center Martinsburg WV
Downtown Sheridan Sheridan WY
SOURCE: J.C. Penney Company, Inc

Source: The full list of 138 J.C. Penney stores closing around the US – The Boston Globe

Gordmans Stores Files for Bankruptcy With Plan to Liquidate

Gordmans Stores Inc., the century-old discount department store chain, filed for bankruptcy with plans to liquidate its inventory and assets.

Gordmans traces its roots to 1915, when Russian immigrant Sam Richman opened a clothing shop in Omaha. He later teamed up with a former Bloomingdale’s executive, Dan Gordman, whose car broke down in Omaha en route to California. Gordman met Richman’s daughter while he was waiting for his car to be repaired and decided to stick around. The two later married.

Private equity firm Sun Capital Partners bought the business in 2008 and took it public two years later. Funds managed by Sun Capital hold about 49.6 percent of Gordmans’ equity, according to a court filing.

Source: Gordmans Stores Files for Bankruptcy With Plan to Liquidate

Natural gas plant to rise where coal once fell in Masontown – Post Gazette

Hatfield’s Ferry, a large Greene County coal plant shuttered in 2013, has drawn the attention of a New Jersey power developer that plans to build a large natural gas plant on the site. APV Renaissance Partners, a subsidiary of American Power Ventures, said it plans to submit a permit to the Pennsylvania Department of Environmental Protection within the next month for a combined-cycle power plant. David Neurohr, a spokesman for APV, would only say that it’s a “redevelopment project” whose details would be disclosed at a public information meeting on April 5, between 5 and 8 p.m., at the Carmichaels and Cumberland Township Volunteer Fire Department. However, in late January, PJM Interconnection LLC, the Valley Forge-based grid operator that manages the flow of electricity for 13 states

Source: Natural gas plant to rise where coal once fell in Masontown

GM exits Europe with Opel-Vauxhall sale

After bleeding money in Europe for 17 years, GM sells its operations there

GM’s decision to say goodbye to the Opel-Vauxhall business it’s controlled for nearly 90 years – and accounts for 10 percent of GM’s global sales and 18 percent of its workforce – is intended to bolster overall profitability and returns to shareholders.

It will leave GM with only a few specialty models in Europe – Chevrolet Camaros, Corvettes and selected Cadillacs – which last year totaled about 2,300 in sales. That’s a tiny fraction – 0.2 percent – of the volume of its Opel-Vauxhall business, which sold 1.16 million vehicles in 2016. GM sold 10 million cars globally last year.

Source: GM exits Europe with Opel-Vauxhall sale

Coca-Cola: Shrinking To Grow? – The Coca-Cola Company (NYSE:KO) | Seeking Alpha

The three conditions for a turnaround are intact and present at Coca-Cola today.

Coca-Cola (NYSE:KO) has been one frustrating stock, and yet it remains at or near the top of the list of the world’s most bullet-proof, iconic brands.

Put another way, for those who’ve been around the markets a while, you can make the case that markets are grossly inefficient in the short-run and brutally efficient in the longer-run.

Source: Coca-Cola: Shrinking To Grow? – The Coca-Cola Company (NYSE:KO) | Seeking Alpha

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