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November 28, 2009

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Associated Press: Business

Business

New Detroit newspaper on hold during first week

1 day, 2 hours ago

(AP) A new Detroit-area newspaper says it will stop publishing until after Jan. 1.The Detroit Daily Press hit the streets Monday, and home delivery was planned for next week.But on its Facebook page, the paper said Friday there's been a lack of advertising, sales and distribution. The paper calls it "just ...

NYC mayor has spent record $102M to win a 3rd term

1 day, 2 hours ago

(AP) A finance report shows New York City Mayor Michael Bloomberg has spent $102 million to narrowly win election to a third term.The finance report filed Friday indicates it was the most expensive self-financed campaign in U.S. history.Bloomberg spent $18.6 million in the final weeks of the campaign through Thursday. He ...

NY officials: Shop smart, be aware of fine print

1 day, 2 hours ago

(AP) As New Yorkers load up their shopping bags and click through their favorite online stores, state officials are warning consumers to be cautious during the post-Thanksgiving shopping rush.The state Consumer Protection Board wants them to understand potentially costly offers like warranty coverage and financing and to beware of less than ...

New Jersey stares at worsening budget deficit

1 day, 2 hours ago

(AP) New Jersey is about to wield a budget ax again on programs and services as tax revenues continue to take a beating.Gov. Jon Corzine expects department heads to identify $400 million in spending cuts by Tuesday.Information disclosed to potential investors this week shows the governor also may be planning to ...

Lawsuit filed over Buckley family trust fund

1 day, 2 hours ago

(AP) Six children of the sister of the late conservative columnist William F. Buckley are accusing their father in a lawsuit of stealing money from a trust fund their mother set up for them with some of the Buckley family fortune.The children of Aloise Buckley Heath, a West Hartford resident who ...

Signs of life in stores as holiday shopping begins

1 day, 2 hours ago

(AP) The nation's shoppers took advantage of deals on toys and TVs with some renewed vigor in stores and online on Black Friday after a year of concentrating their spending on basic necessities.Though the first numbers won't be available until Saturday, early reports indicated bigger crowds than last year, with people ...

RI House holds forum on dire state economy

1 day, 3 hours ago

(AP) House lawmakers are holding their first economic forum, nearly three years after jobs started disappearing in Rhode Island at an alarming rate.The meeting scheduled for Tuesday will bring together lawmakers, economists and business and education leaders to discuss one of the worst recessions in Rhode Island since the Great Depression.Unemployment ...

Mich. fisherman sues state to keep, sell walleye

1 day, 3 hours ago

(AP) One of Michigan's most successful commercial fishermen is suing the state to try to overcome a decades-old ban on catching walleye in the Great Lakes.Dana Serafin of Pinconning is forced to release thousands of walleye from his nets while catching other fish in Lake Huron. In 2008, he proposed a ...

Real Black Friday as stores lose power at NJ mall

1 day, 3 hours ago

(AP) Black Friday began truly black at one New Jersey Mall.Customers at the Radio Shack store in the Bridgewater Commons Mall used flashlights to search for high-tech bargains as a power outage affected several stores shortly after the mall's 6 a.m. opening.The staff used handwritten tickets to process sales before the ...

DA: Walmart peaceful year after deadly NY stampede

1 day, 3 hours ago

(AP) Crowd control at all Walmart stores in New York appears to be smooth a year after a security guard was crushed to death by a stampede of shoppers.Nassau County District Attorney Kathleen Rice says in a statement that her office is unaware of any injuries or property damage at Walmart ...

Treasurys rally amid concern about Dubai debt

1 day, 3 hours ago

(AP) Treasury prices rallied in holiday-shortened trading Friday as investors flocked to the safety of government-backed debt amid concern about financial trouble in Dubai.Investors worried a global economic recovery would be hindered as a government investment fund, known as Dubai World, in the Middle Eastern city-state of Dubai said it would ...

Oneida Nation pays $5M in bonuses to workers

1 day, 3 hours ago

(AP) The Oneida Indian Nation has paid more than $5 million in bonuses split among almost all of its 4,800 employees.That's $400,000 more than last year. The Oneidas say business has been good and its Turning Stone Resort Casino in Verona did well even as the gambling industry nationally was hit ...

NY toughens penalties for employer retaliation

1 day, 3 hours ago

(AP) Workers who want to report they've been underpaid or mistreated on the job are getting stronger protection against retaliation by their employers under a new state law that goes into effect this week.The law toughens penalties for employers who go after employees who report violations to the state Department of ...

New Jersey lawmaker pushing for windmills on piers

1 day, 4 hours ago

(AP) One New Jersey lawmaker wants to add a new attraction to amusement parks along the Jersey shore: windmills.State Sen. Jeff Van Drew is pushing to change state regulations to allow the construction of power-generating windmills on amusement piers.The Cape May Democrat has introduced legislation that would change coastal regulations that ...

Saab: New buyers emerge after Koenigsegg collapse

1 day, 4 hours ago

(AP) A spokeswoman for General Motors' Saab unit says several potential buyers have expressed interest in the Swedish brand after specialty car maker pulled out of a deal to acquire it.On Tuesday, a group led by Sweden's Koenigsegg Automotive AB dropped out of a deal to buy Saab that had been ...

Mont. historians seeks to recognize 100-year farms

1 day, 4 hours ago

(AP) For 100 years Henry Armstrong's family has farmed the same patch of central Montana land, hanging on through the Depression, low wheat prices and the ever-present risk that the next generation would move on.Armstrong, 82, lives in the same house near Geraldine that his grandfather built and lived in as ...

Scuffling customers close S. California Wal-Mart

1 day, 4 hours ago

(AP) Police say a Wal-Mart store in Southern California closed its doors for several hours before dawn after some Black Friday shoppers began fighting over bargain merchandise.Lt. Jim Etchason says officers in Upland, about 40 miles east of Los Angeles, were called to the store at about 2:44 a.m. and helped ...

Education salaries grow $8M in La.'s ed department

1 day, 4 hours ago

(AP) Salary costs have jumped in Louisiana's education department, even as the number of full-time employees dropped, and the number of people drawing six-figure paychecks has more than doubled in the two years since Paul Pastorek took charge of the agency.Payroll at the Department of Education grew by $8 million _ ...

Starent to settle lawsuit over Cisco deal

1 day, 4 hours ago

(AP) Starent Networks Corp., a maker of equipment for wireless networks, Friday said it had agreed to settle a shareholder lawsuit over its pending acquisition by Cisco Systems Inc.Tewksbury-based Starent has agreed to pay the plaintiff's legal costs and provided some clarifications to the financial analysis that underpinned the board's decision ...

AirTran Airways adds Des Moines-Orlando

1 day, 4 hours ago

(AP) AirTran Airways said on Friday it will fly between Des Moines, Iowa, and Orlando, Fla., on Saturdays and Sundays starting March 6.AirTran said the new flights would be the only nonstop flights between those two cities.AirTran is adding several cities beginning in January. It currently has no flights to Des ...

MGM Mirage, HSBC, Satyam, ING are big movers

1 day, 5 hours ago

(AP) The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:NYSE:MGM Mirage, down 45 cents to $10.56 The casino operator's joint venture partner Dubai requested a debt payment delay. MGM said it wouldn't affect the Vegas development.HSBC ...

A look at economic developments around the globe

1 day, 5 hours ago

(AP) A look at economic developments and activity in major stock markets around the world Friday:___DUBAI, United Arab Emirates _ Debt-burdened Dubai insisted that it took into account market fallout from its appeal to delay paying creditors, but offered no specifics and did little to ease worries that dragged down global ...

Business events scheduled for the coming month

1 day, 5 hours ago

(AP) TUESDAY, Dec. 1WASHINGTON _ National Association of Realtors releases pending home sales index for October, 10 a.m; Commerce Department releases construction spending for October, 10 a.m.; Senate Commerce, Science and Transportation subcommittee hearing on aviation safety, focusing on pilot fatigue.NEW YORK _ The Institute for Supply Management releases its manufacturing ...

Business events scheduled for the coming week

1 day, 5 hours ago

(AP) SUNDAY, Nov. 29Several airlines will begin adding 10-dollar surcharges on most of their tickets.TUESDAY, Dec. 1WASHINGTON _ National Association of Realtors releases pending home sales index for October, 10 a.m; Commerce Department releases construction spending for October, 10 a.m.; Senate Commerce, Science and Transportation subcommittee hearing on aviation safety, focusing ...

Microvision to sell shares to investor at $3 each

1 day, 5 hours ago

(AP) Wearable display maker Microvision Inc. said Friday it would sell 3.3 million shares to an existing institutional investor for $3 apiece.The company expects to net $9.3 million from the offering and close on the transaction Dec. 2.It intends to use the proceeds from the offering for general corporate purposes and ...

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