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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
Feb 08, 2013
Page
4
The Labor Department reports 366000 initial unemployment claims last week a drop of 5000 with four week average at 350500 the lowest in nearly five years. Economists note modest hiring improving the labor market despite a January unemployment rate of 7.9 percent.
Greenlight Capital led by David Einhorn sues Apple in New York federal court opposing a move to restrict preferred stock issuance. Einhorn argues the change would block a path to return cash to shareholders as Apple, worth $137 billion in cash, faces a 35 percent stock decline. Apple says management will consider the proposal amid talks on handling funds.
Chicago Mayor Rahm Emanuel urges six mutual funds to divest from Smith & Wesson and Sturm Ruger amid mass shootings. Analysts note gun stock returns outpace the market, complicating moral choices for fund managers and plan participants. Some funds offer screens to avoid gun makers, while index funds resist social criteria.
The Postal Service proposes cutting Saturday delivery to homes and businesses while keeping Saturday post office box delivery and six day package delivery. The plan aims to save about 2 billion annually amid a 15.9 billion loss blamed on a 2006 retiree health benefit law. Public reaction includes firm opposition from farmers and unions, though poll data suggest broad support for cost cuts.
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