Unemployment in Nevada rose to a staggering 10.1% in February 2009. In just one year, that rate has doubled. In February of 2008 the unemployment rate in Nevada was at 5.5%. There are two main reasons for the drastic rise in unemployed Nevada residents. First, the housing market in Nevada has...
Setton Pistachio announces a voluntary recall of one million pistachios shipped in the US since September 1, 2008. And it is believed that this recall may even be expanded because some processed foods like ice cream or cake mixes could also be contaminated. There have been no reported illnesses,...
As the World's economy was falling into a tailspin in the fall of 2008, a new credit card was being unveiled. The Visa Black Card. Normally, that wouldn't be news. However, ever since the economic crisis began, credit card companies have been in a panic, doing everything from raising fees to...
Shares of Exxon and Chevron were up on Friday, after the company reported better-than-expected earnings during the last quarter. Shares of Exxon Mobil were up 61 cents to $77.61, while Chevron was up 31 cents to $70.93. The oil industry contracted toward the end of 2008, when oil prices dropped...
Walt Disney Co.'s ABC Television is cutting back on its workforce by 5 percent. Two hundred employees will lose their jobs, and another 200 open positions with the company will remain unfilled. The cuts will affect the ABC network, ABC Family, ABC News, SoapNet, and the Disney Channel. Disney's...
Amazon Inc. reported a net income of $225 million for the three months ending on December 31. This figure represents an increase of 9 percent from the previous year. Sales for that quarter were up 18 percent, or $6.07 billion. The company said that sales would have been even higher if not for an...
The world's largest chain of coffee shops, Starbucks Corp., is closing stores and shedding 6,700 jobs in the face of a lower first-quarter profit than anticipated. This move will put 6,000 workers in stores and 700 corporate employees out of work. The plan is for the company to close 200 stores in...
Postmaster General John E. Potter has told a U.S. senate subcommittee that he is in favor of cutting back mail delivery in the country by one full day. Under federal law, the post office must deliver the mail to every address in the country, six days a week. The current recession that has gripped...
Circuit City has announced that is closing the doors to its remaining 567 stores in the United States, a move that will put 34,000 people out of work. The consumer electronics chain did try to either find a buyer for its stores or to refinance its debt load, but was unsuccessful. Company officials...
CBS News has downloaded a speech purported to contain the voice of Osama bin Laden in which the al Qaeda leader stated, "The great and swift decline in America's influence is one of the most important motivations for Israelis to wage such a barbaric attack on Gaza, in a bid to try and make use of...
