Steelcase to cut 900 to 1100 jobs in slump
Steelcase Inc. the leading U S office furniture maker will dismiss 600 to 700 hourly and 300 to 400 salaried positions in North America over the next 90 days. Most cuts occur near Grand Rapids where the company is based. Second quarter earnings are expected at 5 to 8 cents per share before one time charges.
MENTIONED IN THIS ARTICLE
Grand Rapids, Mich
Steelcase Inc
Steelcase
Grand Rapids
Jeanine Hill
North America
James P. Hackett
Thomson Financial
First Call
Jim Keane
New York Stock Exchange
Business and Institutional Furniture Manufacturers Association
Amtrak's Boston to New York nonstops in doubt
Amtrak says promised nonstop service may be delayed as more stops could expand markets and revenue. Acela Express progress remains cautious with nine trains operating and two backups, while reliability faces weather and equipment issues. Riders note the comfort and pace of the service.
MENTIONED IN THIS ARTICLE
Boston
Cummings
Canada
Bombardier Transportation
France
Alstom Ltd
Amtrak
Metro-North Railroad
New York
Connecticut
Washington
New York-Boston
New York- Washington
John R. Buck
Tenx Capital Partners
Philadelphia
New York City
Manhattan
Maquiladoras drive border economy but layoffs rise in Mexico
The maquiladora industry, started in the 1960s to exploit low Mexican labor costs, employs 1.2 million across over 3,500 plants mainly in Ciudad Juarez and Tijuana. Ernesto Ruffo predicts 150,000 more jobs this year, yet U.S. demand slows and a strong peso hurts exporters. Many workers like Pedro Rios and Miguel Lopez face months of jobless periods, with some contemplating crossing into the United States for work.
MENTIONED IN THIS ARTICLE
Maquiladoras
Mexico
Ciudad Juarez
Chihuahua
el Paso
Texas
Tijuana
San Diego
Commis
Sioner
Ernesto Ruffo
United States
U.S
Matamoros
Brownsville
Pedro Rios
Rios
Miguel Lopez
Lopez
Father of Two
McCord cites 42 percent cooking fewer meals than before
Harkleroad discusses opening a Gastonia store by year end while Charlotte may get a store first. Lunchtime meals average 9 to 11 dollars and dinners 13 to 15 dollars. Menu features char broiled ribeye steak, steak tips, chicken breast, cheeseburgers, with salad, baked potato and dessert.
MENTIONED IN THIS ARTICLE
Gastonia
Harkleroad
Charlotte
Target Sues Kmart for False Advertising
Target Corp sues Kmart Corp in Minneapolis alleging deceptive price comparisons in the Dare to Compare campaign. Target claims 74 percent of Kmart to Target price comparisons were wrong after audits of 98 nearby stores. Target seeks removal of comparative signs and a court order barring future Target references.
MENTIONED IN THIS ARTICLE
Minneapolis
Target Corp
Kmart Corp
Kmart
U.S. District Court
Target
James T. Hale
Troy
Mich
Leo J. Shapiro and Associates
Shapiro
Atlanta
Detroit
Los Angeles
Miami
Minneapolis-St. Paul
Hale
Saks Beats Estimates in Second Quarter Losses Widen
Saks Inc reports a second quarter loss of 58.3 million or 41 cents a share, wider than a year earlier. Results exclude items and narrowly beat revised Wall Street expectations amid weak consumer demand. The period included 19.8 million in charges for Direct unit reorganization and store closings, offset by 3.8 million gain from senior notes repurchase.
MENTIONED IN THIS ARTICLE
New York
Saks Inc
Wall Street
Saks Fifth
Parisian
Also Mentioned on This Page
Pam Singleton
Merrill Lynch & Co
vSteak
Don H. Bumgardner
Birkenstock
Morgans
Arizona
Ea Ace
Mast Insurance Filed
Medicare
Imum
Prana
Wayne's
East
Lincolnson
N.C
Cae
D&a Lawn Service
N. Post Rd
Byer
Jimmy's Auto
E. Dixon
Shelby, NC
Saks
Johnson Insurance Group
Elie Blvd
Steve Parson
Mt. Holly
Mountains Carpet Mill
Union Road
Forestbrook
Spm
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