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Job openings rise
WASHINGTON — Job openings are rising modestly, a sign that employers may step up hiring soon. But rising openings in the past year haven’t reduced unemployment, heightening concerns that the unemployed might lack the skills to fill the jobs that are coming available. If companies have openings but can’t find qualified workers, that will make it even harder to lower the unemployment rate.
Economy strains loyalty for some Democrats
DECATUR, Ill. — Mike Riggen is out of work. Most of his friends are out of work, too. He’s raising two children on his own and they have expensive health problems. Riggen could use some good news, but he doesn’t think he’ll get it from President Barack Obama and the Democratic Party.
‘Clean’ coal advocates tour region
Representatives from the American Coalition for Clean Coal Electricity stopped in St. Joseph Tuesday to talk about alternative energy. “We want to educate people of the advantages of clean coal technology and how to have a comprehensive energy plan,” said Scott Howard with the coal advocacy group.
FHA launches plan to help ‘underwater’ borrowers
WASHINGTON — The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth. Starting Tuesday, the Federal Housing Administration will permit lenders to give these borrowers refinanced loans backed by the government. The lenders will be required to forgive at least 10 percent of the original mortgage amount. Investors who have control over the mortgages as part of their large portfolios will select which borrowers are invited to participate.
Printing the past to the present
On a nice day, the door to Artcrafts Engraving Co. is open. The breeze drifts up dozens of stairs that creak under visitors’ footsteps. At the top of the climb, the nostalgia sets in. One can only imagine that the appearance of the business hasn’t changed much since it opened in 1912. Short of a computer and copy machine tucked within beautiful woodwork and among antique desks and paperwork artifacts, there isn’t a glimmer of a modern-day operation.
Business briefs, Sept. 5, 2010
Business briefs, Sept. 5, 2010
Israeli firm drops bid to acquire Albaugh
Albaugh Inc.’s manufacturing plant in St. Joseph will not become part of an Israeli agrochemical company. The Makhteshim Agan Group, based in Israel, will not pursue the acquisition of Albaugh, an Iowa-based chemical company with a production facility in St. Joseph. Both companies announced the termination of the acquisition process this week.
Stocks extend rally
NEW YORK — The stock market had its first winning week in a month thanks to better news on the economy. The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.
The future is ... baby carrots?
NEW YORK — Baby carrot farmers are launching a campaign that pitches the little, orange, crunchy snacks as daring, fun and naughty — just like junk food. A group of 50 producers hopes the ‘Eat ’Em Like Junk Food’ effort starting next week will double the $1 billion market in two or three years.
Workers’ health premiums rise 14%
INDIANAPOLIS — Workers are paying a larger portion of their health insurance costs as businesses shift more of the burden to their employees to help ride out the economic downturn, an annual study shows. The average employee contribution toward premiums for family coverage climbed 14 percent this year to nearly $4,000, according to a report by the Kaiser Family Foundation and the Health Research and Educational Trust released Thursday. Contributions for single coverage grew 15 percent. But total premiums — the amount split by the employer and employee — rose a modest 3 percent for family coverage and 5 percent for single employees this year.
Doing the right thing at work
Manners are an intricate part of the business world. A handful of local business professionals took part in a business etiquette luncheon Thursday at the St. Joseph Area Chamber of Commerce. The luncheon was particularly encouraged for “Generation Y” or others new to the professional business world.
Burger King agrees to buyout
CHICAGO — Burger King Holdings Inc., the nation's perennially No. 2 hamburger chain, said Thursday that it is selling itself to little-known private equity firm 3G Capital in a deal valued at $3.26 billion. Its shares soared to an 18-month high.
Quick Stop 3 opens on Frederick
For about five years, the lot at 2607 Frederick Ave., has sat dark and eerie. The former gas station closed, and a few years ago the old underground pumps were removed. The empty parking lot gave way to weeds.
Manufacturing lifts economy
WASHINGTON — Manufacturing is growing in the United States and abroad, easing fears that the economy might be on the verge of a second recession. The U.S. sector expanded for a 13th straight month in August, coinciding with gains in Chinese manufacturing and auto sales.
'It's like a train wreck'
LOS ANGELES — MTV is finally getting its mojo back, thanks to the tanned 20-somethings of “Jersey Shore.” Ever since its December debut, the show’s buzz has been huge — even making it into one of President Barack Obama’s speeches. The July 29 start of the second season, shot in Miami, drew 5.3 million viewers. And audiences have been staying put ever since.
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