| GM posts record loss, offers new round of buyouts
The company is reporting a loss of almost $39 billion last year, the largest annual loss ever for an American automaker. It largely was due to a third-quarter charge related to unused tax credits.
The company also announced it's offering a new round of buyouts to 74,000 hourly workers in the U.S.
Retirement-eligible workers will get between $45,000 and $62,500 as an incentive to retire, depending on their skill level. Younger workers can get up to $140,000 if they leave and cut all ties with the company.
GM says it expects the majority of workers to leave by July 1st. ©2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. .
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Beef Recall FAQ
However, USDA officials believe most of the beef already has been consumed, as most of it is a raw beef product with a very brief shelf life. Exact product descriptions can be viewed in a document at the USDA web site. All Westland products carry the company's federal establishment number -- EST 336 -- as well as the packing date. Why does the USDA say the risk is low? The risk is low because no contaminated or infected beef has been found and because no human illnesses have been linked to the recalled beef. Why was the beef recalled? According to the USDA, Hallmark/Westland voluntarily recalled the products because of allegations that the company failed to properly inspect cattle prior to slaughter. A video released by the Humane Society of the United States vividly documents inhumane treatment of cattle at the Hallmark/Westland facility.
Another Look At The 'Does File Sharing Equal Stealing?' Question
This is a commonly used argument, and seems reasonable at a first pass, but I'd like to address why it's incorrect. Just because you acquire something of value for free (and without the original seller's permission) it doesn't automatically make it "theft." Let's run through some examples: I go to the pizza shop and they offer me a free soda with two slices. The soda has value, but I just got it for free, and did so without Coca-Cola granting permission. I don't think anyone would claim this is stealing or even wrong or immoral. My friend lets me borrow a book, which I read. The book has value. I got it for free, without the permission of the book author or publisher. I get on a train and pick up the newspaper that a passenger left behind. The newspaper has value. I got it for free, without the newspaper company granting permission.
Delta flight attendants seeking to form union
Some Delta Air Lines flight attendants are seeking to unionize as the nation's No. 3 carrier considers combining with Northwest Airlines or United Airlines. A past effort by Atlanta-based Delta's flight attendants to unionize failed. Delta's pilots are currently the only major work group at the company to be part of a union. .
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SMART INVESTORS ALREADY know that past performance figures won't tell you much about a fund's future but now they won't even tell you that much about a fund's past. Take Seligman Large Cap Value, which has outperformed the S&P 500 index and more than 75% of its peers over the past five years. Not bad, right? But a year ago that very same fund was a dog, one of the worst in its category. Same fund, same manager: What gives? Today its five-year record no longer includes its dismal 2002 performance. "Now we have a record that we can sell," says Neil Eigen, the fund's manager. Eigen's not alone. Plenty of fund managers welcomed 2008 with a sigh of relief. All mutual funds are required to report their performance over one-, three- and five-year periods, and now, for the first time since the 2000-02 bear market, those records will capture a period in which stocks mostly went up.
Collier forecasting a decline in school enrollment
For the first time, the Collier County School District is forecasting a decline in enrollment. That was the news Bob Spencer, executive director for financial services, told the Collier County School Board on Tuesday. It came right after Spencer told the board that the district could expect to lose 410 students and about $3.31 million in full-time enrollment dollars in 2008-09. Collier County is not alone. State economists predicted last month that 8,000 fewer students arrived in Florida schools than anticipated. But that concerns school districts, whose budgets are predicated on the number of students sitting in classrooms. Theron Trimble, director of the district's full-time enrollment, said the district woes came in the summer of 2007, when many students moved away.
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