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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jul 13, 2001
Page
4
Wholesale price index declines 0.4 percent in June, driven by record drops in residential electricity and natural gas and a steep fall in gasoline. The Labor Department notes the first decline since last August and the largest since February 1999, while retail sales rise in June aided by a 15 percent jump in new car sales.
United Airlines parent says it will honor its offer to buy US Airways and pursue the acquisition until regulators issue a final ruling. Experts say the move is a legal maneuver, not a change of heart, as VAL Corp had sought to call off the $43 billion deal amid economic and regulatory pressures while US Airways balks at separation.
About 4 800 Niagara Mohawk union workers face a midnight Saturday deadline to ratify a proposed 39 month contract after Local 97 leaders urged approval. Members had narrowly rejected a prior offer by 270 votes two weeks earlier, raising the possibility of a strike if the current pact is rejected.
Three rating agencies downgraded Polaroid Corp debt after the company said it would miss bond payments and explore a sale or merger. Moody's cut the unsecured rating to Ca, Standard & Poor's lowered the corporate credit rating to CCC, and Fitch reduced it to CCC-Sathana. Rosemary Olchowski of the American Red Cross accepted an Outstanding Contribution award at the SD Plus program conference. Barbara Talanco, a LeMoyne College graduate, formed Recruiting Relations in New Hartford to place qualified candidates for direct hire with no fee unless a candidate is suggested. Catherine Gottlieb joined Everson Museum Shop as operations manager after previously running Artifice Gallery in Armory Square. Everson Museum Cafe announced Bill LaFleur as exclusive caterer. Michael A. Riehler joined Sugarman Law Firm as an associate in litigation. Susan Royal.
Washington reports a nine year high in initial unemployment claims for the week ending July 7 with 445 000 new filings. Analysts cite auto industry plant shut downs for model refreshes and persistently weak profits across firms fueling job losses. The four week moving average rose to 410 750, signaling ongoing labor market deterioration and concerns about consumer spending and recession risk.
Central New York sees strong demand for engineers amid active hiring at Sensis Corp in DeWitt and multiple firms around Syracuse. New York Job Bank lists 201 engineer related openings within 25 miles of Syracuse with several short and long term postings. Lockheed Martin Salina site hires about 2,200 this year including 80 new graduates and supports campus recruiting with interns and outreach programs. Salaries for engineers vary by field with mechanical engineers around 23.50 to 32.01 per hour based on 1997 figures, likely higher now.
Survey data from the Commerce Department Census Bureau shows minority owned firms reaching 28 million in 1997, 15 percent of U S businesses, up from 2 million in 1992. California hosts 30 percent of such firms, with Texas and New York also prominent, while revenue gaps remain compared with the national average and overall manufacturing receipts.
A guide for newly unemployed workers emphasizes restoring daily structure, creating to do lists, and pursuing voluntary work or external help. It advises setting morning routines, scheduling job searches with ten daily calls and ten resumes, exercising, networking, and maintaining consistency while seeking new employment.
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