Posts Tagged Corporate news

Detroit retirees back pension cuts by a landslide

In a Thursday, July 3, 2014 file photo, Detroit retirees Mike Shane, left, and William Davis protest near the federal courthouse in Detroit. Workers and retirees approved pension cuts in Detroit's bankruptcy by a landslide, the city reported Monday, a crucial step to emerging from the largest municipal insolvency in U.S. history. The city disclosed results from two months of balloting, which ended July 11. Judge Steven Rhodes still must hold a trial in August to determine if Detroit's overall bankruptcy plan is fair and feasible to all creditors, from Wall Street to Main Street, but support from retirees is vital. (AP Photo/Paul Sancya, File)

DETROIT (AP) — Companies that insure Detroit bonds and stand to lose millions repeated a pledge Tuesday to aggressively challenge the city’s bankruptcy plan, a day after retirees endorsed pension cuts and qualified for a bailout led by the state.

Read the rest of this entry »

Tags: , , , , , , , , , , , , ,

Clarification: GM-Recalls-Rental Cars story

WASHINGTON (AP) — In a story July 16, The Associated Press reported that General Motors became the first big automaker to support legislation barring rental-car companies from renting or selling vehicles subject to a recall. The story should have specified that current law bans car dealerships only from selling new cars under recall, not used recalled cars.

Read the rest of this entry »

Tags: , , , , , , , , ,

Netflix tops 50M subscribers as 2Q earnings soar

This image released by Netflix shows Taylor Schilling, left, and Uzo Aduba in a scene from "Orange Is the New Black." Netflix reports quarterly earnings on Monday, July 21, 2014. (AP Photo/Netflix, Paul Schiraldi, File)

SAN FRANCISCO (AP) — Netflix’s second-quarter earnings more than doubled as new episodes from a hit series helped the Internet video service surpass 50 million worldwide subscribers for the first time.

Read the rest of this entry »

Tags: , , , , , , , , ,

Microsoft makes design central to its future

In this photo taken July 3, 2014, Ralf Groene, chief designer for the Microsoft Surface tablet computer, poses for a photo with a Surface 3 Pro tablet, right, in front of a milling machine used to produce parts for the computer, like the one he is holding at left, in Redmond, Wash. As Microsoft competes with Apple and other companies for hardware sales, the software giant has put a new emphasis on design. (AP Photo/Ted S. Warren)

REDMOND, Wash. (AP) — Before Ralf Groene helped devise the look and feel of Microsoft’s Surface tablet, he designed food — or “food concepts,” he says, for people on the go. Among them: dried noodles that come wrapped around a pair of chopsticks; a tubular meal that can be pulled with two fingers from a car cup holder base; and a fork that squeezes out sauce.

Read the rest of this entry »

Tags: , , , , , , , , , , , , , ,

Private jet recovery from recession an uneven ride

FILE -- In this Dec. 13, 2006 file photo, workers assemble a PW500 engine destined for a Cesna Citation at the Pratt & Whitney plant in Longueuil, Quebec, Canada. Sale of private jets, like the Citation, are rising again in 2014 after the deep recession when the company plane was an easy target for spending cuts. Pratt & Whitney Canada laid off more than 400 workers in 2009 and 2010. But company president Paul Adams said in May 2014 that improvements in the top part of the business have driven the market’s recovery,  (AP Photo/The Canadian Press, Paul Chiasson, File)

HARTFORD, Conn. (AP) — Private jet sales are rising again, climbing out of a deep recession when the company plane was an easy target for spending cuts.

Read the rest of this entry »

Tags: , , , , , , , , , , , , ,