Business

Survey: Many payrolls being cut in '09

As U.S. senators and representatives prepare to pad their wallets with a nearly 3 percent pay hike, some of the country's workers will be lucky to even have a job, let alone a pay raise, according to several online surveys.


Wall Street Falls Amid Corporate Earnings Concerns

Wall Street opened slightly lower Monday, as concerns about a decline in corporate profits overshadowed speculation that President-elect Barack Obama's plan for tax cut will help revive the nation's economy.


Borders Replaces CEO, Posts Weak Holiday Sales

Borders Group Inc replaced its chief executive, who had been on the job less than three years, and the book retailer reported a sales decline for the holiday season.


Pharmed Founders Face Hearing Today on Fraud, Tax Evasion.

The sentencing of two South Florida brothers for fraud and tax evasion is sparking a fight between prosecution and defense lawyers over how much weight the judge should give the men's charitable and civic contributions in deciding their fate.


Banks Might Use Bailout Funds for Acquisitions

The Dallas-based bank received $87.6 million last month from the U.S. Treasury Department's $700 billion rescue program, known as TARP. The bank says it intends to put the money to good use -- increasing loans for businesses, students and even jumbo mortgages. But it doesn't rule out using funds for acquisitions.


Chrysler Gets $4 Billion U.S. Government Loan

Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp.


SamCorp President, Lobbyist to Stand Trial

The public corruption trial of two prominent El Paso businessmen accused of bribing South Texas school trustees in exchange for construction contracts is expected to begin Tuesday in McAllen, according to court records. Steven Sambrano, the president of Sambrano Corp., or SamCorp, and Ramiro Guzman, a former El Paso Electric Co. board member who worked for Sambrano as a lobbyist, were indicted in March by a federal grand jury in the Rio Grande Valley. Both men pleaded not guilty and have been out of jail on bond since March.


Letters Urge Leniency for Pharmed Owners in Fraud Charge

Buoyed by more than 180 letters of support from community leaders, friends and relatives, Carlos and Jorge de Cespedes are scheduled to face a sentencing hearing starting Monday for tax evasion and fraud in connection with ripping off a hospital for more than $5 million.


Fitch Upgrades Wachovia on Wells Fargo Acquisition

Fitch Ratings on Friday raised its rating on Wachovia Corporation, citing its acquisition by higher-rated Wells Fargo & Co, which assumed Wachovia's debt.


Steel Industry Urges 'Buy American' Recovery

The U.S. steel industry is pressing President-elect Barack Obama to boost flagging demand for U.S.-made steel by instituting a "buy American" clause in his infrastructure stimulus package, a report in the New York Times read on Friday.


Demand for Court Interpreters High in California

If you are multilingual, know language well and are quick on your feet, there's at least one employer in the midst of the nation's rocketing job losses that wants you -- the Judicial Council of California. The only catch: Peoples' futures are hanging in the balance, and the job is more than knowing a language other than English.


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