Category: Business

Here’s Why Thousands Of Autoworkers Could End Up On Strike Soon | HuffPost

The United Auto Workers union is set to start bargaining new contracts covering 150,000 workers at Detroit’s Big Three on Monday in what could be the most contentious negotiations the auto industry has seen in years.

The union will be looking to make significant gains over the most recent four-year contracts with the companies, ratified in 2015. Automakers are looking to cut labor costs relative to foreign competitors building cars and trucks inside the U.S. with lower-earning workers. Industry-watchers believe the starkly different expectations create the possibility of a major strike.

Source: Here’s Why Thousands Of Autoworkers Could End Up On Strike Soon | HuffPost

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Get Ready To Buy Google, Apple, Facebook And Amazon

France just imposed a 3% tax on the French revenues of Google, Apple, Facebook and Amazon. But these companies are not going to be any less profitable because of the tax. If Google, Apple, Facebook or Amazon sells-off because of the new French digital tax, get ready to buy.

As with all corporate taxes, there is a widespread misunderstanding as to who actually pays the tax. Since in order to stay in business, customers have to cover all of a company’s costs — including taxes — it is customers who ultimately pay the taxes.

Source: Get Ready To Buy Google, Apple, Facebook And Amazon

Twitter down: Social media platform goes offline for an hour – CNN

The tweets went silent for a time on Thursday.

San Francisco (CNN Business)The tweets went silent for a time on Thursday.

Social media service Twitter (TWTR) was not working for about an hour on Thursday afternoon. The company says some people may now be able to access the site again.
Twitter said in a statement Thursday afternoon that it was “currently investigating issues people are having accessing Twitter.”
Users can continue to monitor the site’s status at status.twitterstat.us. It’s unclear at this time how extensive the outage was or its exact length.
“The outage was due to an internal configuration change, which we’re now fixing,” Twitter said in an update it posted to the status monitoring site.
The site’s outage coincided with the start of the White House’s Presidential Social Media Summit. Twitter, along with Facebook (FB), wasn’t invited to the summit, while a number of right-wing extremists were.

Source: Twitter down: Social media platform goes offline for an hour – CNN

Stocks Rally As Fed Chairman Speaks : NPR

The Federal Reserve chairman is testifying before Congress this week about challenges the economy faces. Stocks rallied in anticipation the central bank will lower interest rates later this month.

Stocks rallied Wednesday as Federal Reserve Chairman Jerome Powell testified about challenges the U.S. economy faces, adding to expectations that the central bank will cut interest rates later this month.

The Fed had hinted at such a cut in June.

Since then, “it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook,” Powell said in prepared testimony for the House Financial Services Committee. “Inflation pressures remain muted.”

Source: Stocks Rally As Fed Chairman Speaks : NPR

Liquor License Transfer Hearing Thursday 6:30PM North Huntingdon, PA

The public will have an opportunity to comment on the proposed transfer of a liquor license into North Huntingdon during a hearing the township will conduct at 6:30 p.m. Thursday at the Town House, 11279 Center Highway.

Isano II Inc., is asking the commissioners for approval to transfer a liquor license to a site at 8865 Norwin Ave., at a shopping plaza where Excela Square at Norwin is located.

Under state law, the township has authority to conduct a public hearing on a liquor license transfer and the commissioners get to vote on approving the transfer when the number of liquor licenses exceeds one per 3,000 people.

Source: https://triblive.com/local/westmoreland/north-huntingdon-to-hold-hearing-on-liquor-license-transfer/

Ross Perot, businessman and former presidential candidate, dead at 89

The pioneer of the computer services industry, who founded Electronic Data Systems Corp. in 1962 and Perot Systems Corp. 26 years later, was just 5-foot-6, but his presence filled a room.

“Describe my father?” Ross Perot Jr., his only son and CEO of the Perot Group, asked rhetorically in an interview. “Obviously a great family man, wonderful father. But at the end of the day, he was a wonderful humanitarian.

“Every day he came to work trying to figure out how he could help somebody.”

Ross Perot at the Dell headquarters in Plano in October 2016.(Andy Jacobsohn/The Dallas Morning News<div><br></div>)

https://www.wtae.com/article/ross-perot-businessman-and-former-presidential-candidate-dead-at-89/28335697

Former Chrysler CEO Lee Iacocca has died at age 94 | Newsradio 1020 KDKA

DETROIT (AP) — Lee Iacocca, the auto executive and master pitchman who put the Mustang in Ford’s lineup in the 1960s and became a corporate folk hero when he resurrected Chrysler 20 years later, has died in Bel Air, California. He was 94.

Two former Chrysler executives who worked with him, Bud Liebler, the company’s former spokesman, and Bob Lutz, formerly its head of product development, said they were told of the death Tuesday by a close associate of Iacocca’s family.

Source: Former Chrysler CEO Lee Iacocca has died at age 94 | Newsradio 1020 KDKA

Verizon store closed at Westmoreland Mall | TribLIVE.com

Another store has joined a list of businesses permanently shutting their doors at Westmoreland Mall.

Verizon Wireless, which sat between Greenhouse Winery and T-Mobile on the first floor of the mall near JCPenney, closed at the end of June, said David Weissmann, public relations manager for the Verizon Consumer Group.

Weissmann did not provide a reason behind the store closing.

Six stores announced national closures this year, which impacted the mall, including Sears, which closed March 17; Charlotte Russe; Helzberg Diamonds, which closed March 24; Gymboree; Payless ShoeSource and Dressbarn.

BonTon closed its doors in August, and is being renovated for a mini casino.

Source: Verizon store closed at Westmoreland Mall | TribLIVE.com

BBC – Future – How to rehabilitate old oil supertankers

The enormous ships that ferry crude oil around the world embody the fossil fuel era and its legacy of pollution. But can they be transformed to become good for the environment?

There are some who believe that these dirty monoliths of the oil age can  be rehabilitated – they want to transform them into sources of clean, renewable energy. Engineers believe it is possible to use the vast hull of oil tankers to create floating power stations that can convert the ocean swell into electricity. This is the ambitious plan to create the world’s first “waveships”.

“The current problem with most wave energy projects is that they are fixed in place, close to the shore so they can be connected to the electricity grid,” says Andrew Deaner, managing director of ShipEco Marine, the company behind the waveship project. “This isn’t necessarily where the best waves are. With a ship you are mobile, so you can move to the edge of low-pressure weather systems where the waves are bigger and there is more energy.”

Source: BBC – Future – How to rehabilitate old oil supertankers