Musicians Demand Royalties From Radio Play
A coalition led by Sheryl Crow, will.i.am, Herbie Hancock, Dionne Warwick and Patti LaBelle urged Congress to require radio stations to pay performers when their songs air. The plan faces NAB opposition, arguing it could threaten thousands of radio jobs while lawmakers seek fair royalties similar to songwriter payments.
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Aviation union urges Boeing engineers to vote strike
The SPEEA union representing 700 engineers at Boeing Integrated Defense Systems in Wichita recommends rejecting the contract and authorizing a strike. Members vote next week on the contract rejected 209 28 earlier this month, with a strike vote added amid stalled negotiations and a federal mediator.
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GM shifts Volt engine assembly to existing Flint plant
General Motors will install 1.4 liter engine equipment inside the Flint South Engine Plant rather than building a new facility. The move saves about 120 million dollars and preserves 300 jobs while enabling engines for the Volt and Cruze with a 40 mile range on electric power plus highway efficiency around 40 mpg.
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Fed warns banks to limit risky dividends
The Federal Reserve issued guidance urging banks to consult before paying dividends that could compromise safety and capital. The rule targets banks facing difficulties or receiving government funds and follows JPMorgan Chase's cut to its quarterly dividend to preserve capital.
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