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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 03, 2002
Page
2
The July unemployment rate stayed at 5.9 percent with only 6,000 new jobs created, far short of the expected 60,000. Hiring remained weak in services while construction and manufacturing cut jobs, fueling worries the recovery may stall.
The piece tracks a surge in overtime wage lawsuits led by salaried managers and professionals. It cites RadioShack’s $29.9 million California settlement for 1,300 store managers, Starbucks and Eckerd settlements, and Wal-Mart battles as workers push to redefine who earns overtime under evolving federal and California rules.
A Florida retiree accuses Martha Stewart Living Omnimedia of losses from publicity over Stewart’s ties to ImClone Systems Inc. The suit seeks class action status, alleging breach of fiduciary duty and damage to the company’s name. It follows earlier investor actions tied to the ImClone controversy.
Stocks tumbled as a bleak earnings batch including Disney and National Semiconductor spurred a broad market rout. The Dow fell 193.49 points to 8313.13, the S&P 500 slid to 864.24, and the Nasdaq declined to 1247.88 amid lingering economic uncertainty and cautious investor sentiment.
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