Recently added articles from US Business Journal, Central South:
Delta outlines voluntary severance packages; most of its 75,000 employees eligible
Dec 13, 2008 ... Delta Air Lines Inc. outlined its latest round of voluntary severance packages in a memo to employees late Friday, but did not specify a number of jobs to be cut. The majority of the 75,000 employees in the new Delta (NYSE: DAL) are eligible for the packages, the Atlanta-based carrier said ....
Technology incubator feeling impact of recession
Dec 12, 2008 ... The Advanced Technology Development Center (ATDC) is feeling pushback from the tech industry slowdown. Applications to the tech business incubator, located at Georgia Tech, is down by about a third, General Manager Charles Ross said late Friday afternoon. ATDC, last year, drew about 180 ...
GDOT board supports infrastructure stimulus package
Dec 12, 2008 ... The Georgia State Board of Transportation piled on its support Friday of an infrastructure-based economic stimulus package and started a preliminary list of $3 billion in projects it said would help get many in the state back to work. The board unanimously approved a resolution in support of a ...
EMS Technologies to buy Formation
Dec 12, 2008 ... EMS Technologies Inc. plans to buy Moorestown, N.J.-based Formation Inc. in a deal that could cost up to $55 million. Atlanta-based EMS (NASDAQ: ELMG) will pay $40 million, with the acquired company having the ability to earn payments of up to $15 million based on its future performance. Formation ...
Auto bailout dies in Senate
Dec 12, 2008 ... The U.S. Senate failed to reach an agreement Thursday night on a measure to provide up to $14 billion in bridge loans to the Big Three U.S. automakers. The Senate voted 52-35 in a procedural vote to end debate on the measure. A total of 60 votes were needed for discussion to continue. Senate ...
Ga. sixth nationally in lack of health insurance
Dec 12, 2008 ... Georgia has the sixth highest number of residents without health insurance in the U.S. and ranks eleventh in its percentage of the population lacking coverage, according to a report from the Georgia Health Policy Center and the Center for Health Services Research, both at Georgia State University ....
Treasury to prop up automakers?
Dec 12, 2008 ... The U.S. Treasury may step in to aid struggling U.S. automakers now that a bailout for Detroit's Big Three has died in the Senate. In a statement Friday, the White House said it is considering "other options" to help the automakers, including the allocation of money from the $700 billion bailout ...
KB Toys files for bankruptcy protection
Dec 12, 2008 ... KB Toys Inc. has filed for Chapter 11 bankruptcy protection with plans of closing its chain of stores. The toy retailer cited sharp declines in consumer spending for the filing. KB has stores 19 stores in Georgia -- including Perimeter Mall, ...
Honda cutting production again
Dec 12, 2008 ... Honda Motor Co. Ltd. is reducing production again in response to dwindling sales. The automaker will cut another 119,000 units from its plan across all North American facilities in the remaining months of its fiscal year, ending March 31, including a 58,000-vehicle cut at its Marysville and East ...
AirTran expands PayPal payment options
Dec 12, 2008 ... Purchasing AirTran Airways Corp. tickets online with PayPal is about to get a little easier, the Orlando, Fla.-based airline said Friday. AirTran (NYSE: AAI) announced it will offer PayPal Express Checkout, a service that automatically inputs users' on-file payment information, to make online ...
Ex-NASDAQ chief Madoff charged with securities fraud
Dec 12, 2008 ... A former chairman of the NASDAQ stock exchange has been charged with securities fraud after prosecutors say he operated a "Ponzi scheme" that scammed billions from investors, The Associated Press reported Friday. Bernard Madoff, 70, has been charged in a scheme federal authorities say could have ...
General Growth Properties narrowly avoids default on $900M in debt but still faces finance hurdle
Dec 12, 2008 ... General Growth Properties Inc., the debt-laden owner of major retail destinations across metro Atlanta and the nation, refinanced nearly $900 million in debt to narrowly avoid going into default and perhaps bankruptcy - but the company is not out of the financial woods yet. The Chicago-based owner ...
SunTrust names Rogers as new president, shakes up executive roles
Dec 12, 2008 ... SunTrust Banks Inc. is promoting two senior executives as part of a management shake-up, the company announced Friday. The changes increase speculation about who will succeed to current chairman and CEO James M. Wells III. William H. Rogers Jr., a corporate executive vice president, will assume ...
GM to cut production 30 percent
Dec 12, 2008 ... General Motors Corp. Friday announced it will cut North American production volume by about 250,000 units, or 30 percent, during the first quarter of 2009. The cuts will affect 14 U.S. plants, three Canadian plants and three plants in Mexico. General Motors (NYSE: GM) attributed the cuts to "the ...
Pickens: Obama administration a boost to energy plan
Dec 12, 2008 ... The incoming Barack Obama administration should give a boost to T. Boone Pickens' plan to reduce America's dependence on foreign oil, the billionaire Texas businessman said Friday. Pickens, who will be in Atlanta on Saturday speaking to a national convention of state lawmakers, said he expects ...
Feds seize Duluth-based Haven Trust Bank
Dec 12, 2008 ... Duluth-based Haven Trust Bank was seized by state and federal bank regulators late Friday, as the fifth failure in Georgia this year and the second in as many weeks. Winston-Salem, N.C.-based BB&T Corp. (NYSE: BBT) will assume all deposits from Haven Trust, which had total assets of $572 million ...
Expert: U.S. lodging in historic downturn
Dec 11, 2008 ... The nation's hospitality industry has entered one of the greatest recessions in the history of the American lodging industry, according to Atlanta-based PKF Hospitality Research. According to the latest projections from PKF-HR, revenue per available room (RevPAR), a critical measure of hotel ...
Automaker bailout passes House
Dec 11, 2008 ... A $14 billion bailout plan of bridge loans for General Motors Corp. and Chrysler LLC passed the House Wednesday night by ...
Caraustar closing Va. plant, idling another
Dec 11, 2008 ... Caraustar Industries Inc. will shutter its Richmond Paperboard mill in Richmond, Va., and cut 52 jobs on Thursday and will idle another mill in Charlotte, N.C. "Recession and declines in product demand necessitate that the company move aggressively to retain cost efficiencies and increase capacity ...
Report: Three times more job seekers than jobs
Dec 11, 2008 ... There were three times as many people seeking work in October than jobs available, according to a report released Wednesday by the Economic Policy Institute, a nonpartisan think tank in D.C. There were 3.1 million job openings in the nation in October, data from the Bureau of Labor Statistics ...