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To: Crimson Ghost who wrote (24196)	2/23/2005 6:21:34 PM
From: mishedlo	Respond to of 116555

Layoffs Du Jour [Note: These go back to Friday Feb 18th. Just now getting caught up] 19...Atlantic City Housing Authority February 18, 2005 Housing Authority approves layoffs, raises By DEREK HARPER Staff Writer, (609) 272-7203 ATLANTIC CITY - The Atlantic City Housing Authority approved raises for three people and hired a fourth person Tuesday, the same day it approved provisionally laying off 15 percent of the staff. The raises came in executive session and provide extra pay for some employees covering for other employees who have left the authority or are ill. The new hire will take the place of an employee who was fired in October. The layoffs will eliminate 19 jobs and downgrade two employees' work responsibilities. pressofatlanticcity.com 160....Vectron International More manufacturing jobs disappear By Julie Fishman-Lapin Staff Writer February 18, 2005 Losing a job is difficult enough, but imagine being laid off from a manufacturing plant in lower Fairfield County. With factories shrinking and all but disappearing from this region of Connecticut, there are few options for those who suddenly find themselves jobless and without the skills that could enable them to find a job in another sector. That's the reality for 160 manufacturing workers at Norwalk-based Vectron International, the latest area plant to shut its doors. greenwichtime.com 120, Financial ServiceSolutions FSS will lay off last of Louisville workers Company cites mortgage falloff courier-journal.com Financial ServiceSolutions, an outsourcing business that assists mortgage lenders, will lay off the last of its Louisville employees by April 8, according to a notice filed with the Kentucky Division of Workforce Services. "Due to a decline in consumer demand for mortgage process outsourcing across the industry, we have made the difficult decision to wind down business operations in Louisville," Greg Sullins, president and chief executive of the Charlotte, N.C.-based business, wrote last week in a letter to the state. FSS, which was formed in early 2003 and once employed 665 people, had undergone several rounds of layoffs in the past year as the mortgage refinancing business dwindled. 52....Lovelace Sandia Health Systems February 18, 2005 Lovelace lays off 52 employees Lovelace Sandia Health System laid off 52 employees Friday and offered 42 other workers transfers to open jobs in the health care company. The layoffs represent about one percent of the company's 5,142-person workforce, said Lovelace Sandia spokeswoman Anne Monson. All of the affected jobs were in administrative areas. None were associated with direct patient care, Monson said. Lovelace Sandia President and CEO Norm Becker said, in a news release, "These changes will fall in the administrative services area and do not impact direct patient care. Lovelace Sandia continues to be a financially healthy and economically viable organization." bizjournals.com 153...LTX Corporation February 18, 2005 LTX to cut 25 percent of work force Boston Business Journal In the wake of a 54 percent drop in year-over-year second-quarter revenue, LTX Corp., which makes test equipment for the semiconductor industry, plans to eliminate 153 jobs, or 25 percent of its work force. The layoffs will reduce annual costs $13 million and result in a charge of $4 million in the fiscal third quarter, which ends April 30, the company said in a filing with the U.S. Securities and exchange Commission. bizjournals.com 84....Norton Southwest hospital Norton Southwest announces job cuts Norton Healthcare is making major changes at its Southwest Hosptial. The hospital has announced it's getting rid of emergency surgery, and cutting 84 jobs. 50....Ingram Micro Ingram announces job cuts 21/02/2005 16:50:24 Ingram Micro has cut six per cent of its workforce as part of a restructure following the acquisition of Tech Pacific. With the two broad-based distributors employing about 850 people before the merger, job losses are estimated at 50. Almost half of these were as a result of closing a distribution centre in Homebush West, according to Ingram managing director, Kerry Baillie. Duplication of positions and relocation of duties were cited by the company as reasons for the remainder of the redundancies. The distributor had managed to keep the number of job losses down, according to Baillie, because it had taken the decision not to fill any vacancies that had emerged since news of the merger first broke back in September. 375....Land's End Sears' Lands' End to Cut Jobs NEW YORK (Reuters) - Clothing retailer Lands' End on Tuesday said it would cut more than 375 jobs as it reduces its phone center capacity, streamlines its overall business operations and restructures its product development functions. news.yahoo.com 1100....Acuity Brands Acuity Brands to Cut Jobs, Take Charge NEW YORK (Reuters) - Acuity Brands Inc. (NYSE:AYI - news) said on Tuesday it would slash 1,1000 jobs worldwide, or about 15 percent of its salaried work force, and take a $17 million pretax charge in its fiscal second quarter ending Feb. 28. The Atlanta-based maker of lighting and specialty chemicals said it expects the job cuts will reduce operating costs by at least $13 million in the second half of fiscal 2005 and about $50 million annually by the end of calendar year 2005. news.yahoo.com 52, Novoste Corp Novoste to make deep job cuts, close VBT biz atlanta.bizjournals.com Already pondering liquidation or dissolution, Novoste Corp. said it will close vascular brachytherapy business, cut more than half of its U.S. employees and cut all of its international staff in the first quarter. The Norcross-based company (NASDAQ: NOVT) said its vascular brachytherapy (VBT) business is "no longer viable" due to continually sagging revenue, and it had to make the moves to preserve its cash resources. Novoste will cut 52 of its 97 U.S. employees and all 16 of its employees outside of the United States. It will take a $1.7 million severance charge in the first quarter 150, The Grand Rapids Board of Education Tuesday, February 22, 2005 The Grand Rapids Press GRAND RAPIDS -- Every Grand Rapids school administrator received notice Monday that their job could be gone by the start of the next school year. mlive.com The Board of Education unanimously approved sending more than 150 principals, central office employees and executives warnings their jobs may be eliminated because of the district's growing financial crisis. The only people spared were those who announced plans to retire at year's end, administrators who have asked to return to the teaching ranks and Superintendent Bert Bleke, who, by law, cannot be laid off. The district's contracts call for the early notice. 700....Erie County (Buffalo) - more to come Lawmakers Unveil List of Job Cuts Feb 23, 2005, 08:15 AM (Buffalo, NY, February 23, 2005) - - It is the largest wave of layoffs for Erie County workers so far. Tuesday night, county lawmakers unveiled a massive list of job cuts. News 4's Barbara Pinson reports from Erie County Hall with the detailed list. Department leaders have agreed to nearly 700 job cuts. They met late into the evening Tuesday night before coming up with a list of positions that will be eliminated to help balance the budget. Here are some of the numbers we have Wednesday morning: The Parks and Health Departments will give up more than 100 workers each. The Highway Department will lose more than 50 workers. Probation will lose more than 30 employees. The Erie County executive will have half a dozen fewer people in his office. Number crunchers are also dealing with legislators who cut federal and state programs, cuts that don't actually help balance the budget. Last week, we heard the county would settle on 2000 job losses. Now it looks like the number will be closer to 2500. wivb.com 5500....Cadbury Cadbury Second-Half Profit Rises 44% on Cost Cuts, New Drinks Feb. 23 (Bloomberg) -- Cadbury Schweppes Plc, the world's third-largest maker of carbonated beverages, second-half profit rose 44 percent as the company reduced costs and introduced products such as 7Up Plus. Net income rose to 260 million pounds ($496 million) from 181 million pounds a year earlier, according to Bloomberg calculations based on Cadbury's annual figures released today. The company repeated that 2005 results will be within its goal ranges. Chief Executive Todd Stitzer is shedding 10 percent of Cadbury's workforce and shuttering 20 percent of Cadbury's factories, a plan that saved 75 million pounds last year and is expected to save about 100 million pounds this year. Cadbury plans to spend that money on marketing as well as research and development. The company promoted Bubblicious Lightening Lemonade gum during this year's Super Bowl. bloomberg.com 260...ATA 260-plus to lose jobs in latest cuts at ATA The Indianapolis Star - 1 hour, 23 minutes ago Another 260-plus ATA Airlines workers based in Indianapolis will lose their jobs as ATA continues its restructuring under bankruptcy reorganization, according to papers filed with the Indiana Department of Workforce Development. 3600...Sun Micro Wednesday February 23, 08:20 AM Sun expands software staff cuts By Stephen Shankland, CNET News.com The firm has increased planned layoffs to include 3,600 staff, but insists it is still committed to software Sun has laid off employees in its software group, part of a gradually expanding job-cut programme by a company that has yet to return to consistent revenue growth. Sun spokeswoman Stephanie Von Allmen confirmed the 15 February cuts but declined to say which part of the company's software group was being hit. She said the company isn't backing off from its software commitment, which has gained prominence at the company with the 2004 elevation of former software chief Jonathan Schwartz to president and chief operating officer. The cuts were part of an expansion of an earlier 3,300-employee layoff announced the day Schwartz was promoted. In October, Sun increased the number to 3,500. Now it has reached 3,600, Von Allmen said. uk.news.yahoo.com Have a good day! Mish

To: Crimson Ghost who wrote (24196)	2/24/2005 12:44:29 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Just Wondering I was in the banking business for over 20 years but that was 4 years ago now. Lately I have been wondering about some things. Does anyone remember ATM fees (or rather the lack of them)? Initially there was “No Charge” on the rationale that banks would save on tellers. Then the charge was 25 cents. Then the charge was 50 cents. Now the charge is $1.25-$2.50. Those charges are waved for the “home bank”. How much longer will that last? Just Wondering On the credit card side we are already seeing the following: Increased late fees Increased over limit fees Statements being sent out as late as possible, purposely giving people less time to get a check in the mail Due dates being purposely set on Sundays or Holidays giving people one less day than appears to get their check in the mail International transaction fees being jacked up from 1% to 3% (These are immediate and are charged whether or not you carry a balance) Interest rates set as high as 30% Miss one payment accidentally and your rate pops up to the maximum Card companies looking at late payments not only on their cards but any card as a basis for raising interest rates Card companies looking at late utility payments as a means of jacking up the interest rate Increased use of two cycle billing (This effectively cuts the grace period on purchases to zero for anyone that carries a balance) In order to get around state interest rate caps, banks moved their card operations to states such as Delaware that have no cap limits Offers to “skip-a-pay” (you are charged interest of course just no late fee) Increased credit limits. Etc, etc, etc (I am sure I missed many more tricks, gimmicks, hidden fees, and costs) None of the above has affected me much since I always pay my balance in full. Those using a card that offers 1% cash back such as Discover should be forewarned that if they carry a balance they might be paying dearly for it. There is typically zero grace period on purchases if you run a balance on such card. Discover will give you 1% but you pay 9-18% or whatever immediately on new purchases. This is NOT a good deal if you carry a balance. If you make a lot of international purchases it might behoove you to make sure you are not paying an extra 3% for those transactions. Just thought I would pass this info on. Perhaps it helps someone. Given every which way card companies have attempted to extract every last penny out of everyone, how long will they put up with freeloaders like me who pay off their balance every month? Just Wondering How long will it be before it is 10 cents per credit card use? Just a dime?! Of course that will be in addition to the 1-2% the merchant pays. Then a quarter? Then fifty cents? Then a dollar? To prevent customer bitching perhaps there will be a 10 cent minimum to a 1% max. Just a percent? Yeah just! Perhaps if you carry a balance and there will be no charges Wow what a great deal! Pay 8-30% interest or whatever and they will wave the 10 cent fees. Like zero ATM fees, how long will that last? How long will all of this take to play out? Just Wondering How much profit will this add if the card companies can pull this off? Just Wondering How long before new bankruptcy laws are passed and people still owe their soul to the company store coming out of the process? Just Wondering How long after that will there be a public revolt, usury laws, credit limits, credit laws, and re-regulation? Just Wondering Michael Shedlock

To: Crimson Ghost who wrote (24196)	2/24/2005 2:09:53 AM
From: mishedlo	Respond to of 116555

Layoffs Du Jour seems like I missed some 19....Menasha Corp. Posted Feb. 19, 2005 Menasha Corp. cuts jobs after losing customer NEENAH — Menasha Corp. announced Friday the elimination of 18 of its 144 full-time hourly jobs at its Menasha Packaging Neenah plant at 1645 Bergstrom Road. The company, which employs about 1,000 overall in the Fox Cities, is working on outplacement assistance options for the displaced workers, said Mike John, director of corporate communications. The plant makes corrugated boxes and point of purchase sales displays. The job cuts were prompted by the loss of a major customer who moved its manufacturing operations overseas, John said. wisinfo.com Analysts say N.C. may lose 10,000 to 20,000 more jobs this year Record year in textile layoffs predicted Posted on Tue, Feb. 22, 2005 charlotte.com 200....Toshiba Toshiba Begins Layoffs at Lebanon Plant Posted: 2/22/2005 3:40:00 PM Toshiba is laying off dozens of workers at a plant in Lebanon. The company won't say how many workers are losing their jobs, but NewsChannel 5 has been told it could be close to 200. The Toshiba plant in Lebanon has made televisions since 1978. Toshiba says two production lines that make the kind of televisions most of us grew up with are shutting down. The company says layoffs and changes are necessary because more people are buying DLP and flat panel television sets. One woman says the layoffs have already started. She told NewsChannel 5 her father lost his job last week. Before the layoffs, Toshiba employed close to 1,000 people. newschannel5.com

To: Crimson Ghost who wrote (24196)	2/24/2005 9:56:56 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

U.S. Jan. durable orders strong aside from aircraft - Thursday, February 24, 2005 2:21:50 PM afxpress.com WASHINGTON (AFX) - A big drop in aircraft orders masked growing demand for other U.S.-made durable goods in January, according to Commerce Department data released Thursday Total orders for durable goods sank 0.9 percent in January as demand for civilian aircraft plunged by 27.1 percent, the Commerce Department reported Thursday Excluding the 5.3 percent drop in orders for transportation goods, new orders increased 0.8 percent, surprising strength given the expiration of a tax break at the end of 2004 that economists suspected would slow investment growth in the early months of this year Orders in December were revised higher to a 1.4 percent gain from 1.1 percent previously. Economists were looking for orders to be unchanged in January, according to a survey conducted by MarketWatch. In a separate report, the Labor Department said first-time claims for jobless benefits rose 9,000 to 312,000 last week, while the four-week average fell to a four-year low of 308,750. The bond market was largely unchanged following the data. "Traders overlooked the decline in the headline durable orders, noting instead the strength in the major components of the report," said analysts at Action Economics Durable goods orders are extremely volatile, particularly for big-ticket items such as airplanes. A loss in one month can be made up with the stroke of the pen in the next. For instance, Boeing Co. won a new order for 140 planes from Ryanair on Thursday, worth about $4 billion. New orders are up 10.5 percent since January 2004 New orders for most categories were up in January, except for computers, cars and airplanes. The orders data do not include semiconductors Shipments of durable goods rose 1.5 percent in the month after an upwardly revised 2.8 percent increase in December. The revision to December shipments should lead to a greater upward revision to fourth-quarter gross domestic product on Friday. Economists were already expecting the 3.1 percent estimate to be revised to 3.6 percent Orders for core capital goods increased 2.9 percent in January after a 3.3 percent gain in December Shipments of core capital goods - the best monthly measure of business investment - increased 3.7 percent in January Inventories of durable goods increased 0.9 percent in January, while unfilled orders fell 0.2 percent Transportation goods accounted for the decline in new orders. Orders for aircraft sank 27.1 percent in January after falling 16.8 percent in December. Motor vehicles fell 3.8 percent after a 4.9 percent rise in December. Defense aircraft jumped 56.9 percent after a 39.8 percent decline in December Electrical equipment increased a record 13 percent while shipments rose 4.9 percent Computers and electronics fell 1.2 percent while shipments increased 4 percent Machinery increased 0.3 percent while shipments increased 2.6 percent Primary metals increased 1.6 percent while shipments increased 2.3 percent. Orders and shipments for fabricated metals increased 1.2 percent

To: Crimson Ghost who wrote (24196)	2/24/2005 10:00:53 AM
From: mishedlo	Respond to of 116555

U.S. jobless claims up 9,000 in latest week - Thursday, February 24, 2005 2:02:36 PM afxpress.com WASHINGTON (AFX) - Jobless claims reversed course and rose in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending February 19 rose 9,000 to 312,000. This is the first increase after three straight weekly declines. The increase was higher than expected. The consensus forecast of Wall Street economists was for claims to rise to 308,000. A Labor Department official said there were no special factors, such as weather or holidays, that affected the weekly figures Claims in the previous week were revised to a drop of 1,000 to 303,000 compared with the initial estimate of a fall of 2,000 to 302,000. The four-week average of initial claims fell 3,250 to 308,750. This is the lowest level since Nov. 2000 Meanwhile, the number of Americans receiving state jobless benefits fell 62,000 to 2.65 million in the week ending Feb. 12. The four-week moving average of continuing claims fell 40,250 to 2.70 million, the lowest since April 2001 The insured unemployment rate held steady at 2.1 percent for the week ended Feb. 12 Federal Reserve officials believe the labor market is improving, according to the minutes of their last meeting on Feb. 1 and 2. The minutes were released on Wednesday. In a separate report, the Commerce Department reported that durable goods fell 0.9 percent in January, but the details were more positive than the headline decline suggested.