Which means neither side got everything they wanted.
A compromise, but an agreement never the less.
FTR has never had union problems, and my relationship with FTR goes back a ways.
STAMFORD, Conn.--(BUSINESS WIRE)--
Frontier Communications Corporation (FTR) and the International Brotherhood of Electrical Workers, AFL-CIO (IBEW) and its Local Unions 89 and 543 in California, Nevada, Oregon and Washington have reached a new collective bargaining Agreement through binding Interest Arbitration. The new Agreement covers approximately 1,000 employees, is effective immediately and expires in May 2017. The covered workforce includes technicians, call center consultants, and many other employees who support Frontier’s operations locally and across the country.
In October 2008, the month after Lehman failed and the Great Recession started, industrial bellwether Caterpillar underwent a series of 19 consecutive, record, declines in Global dealer retail sales declines, finally emerging from its unprecedented funk in May of 2010, just in time to celebrate the start of financial and economic Greece's collapse which ended with a sovereign default. Well, as of July 2014, that record is no longer valid, because starting with a -1% drop in Global retail sales in December 2012, CAT has now posted a new record of 20 consecutive global delaer retail sales declines, after a -9% Y/Y print for the month of July.
In other words, for Caterpillar, the Great Recovery is now worse than the Great Recession.
While the world awaits the test results from an Ebola suspect in Sacramento to learn if Ebola has now officially entered the US, the epidemic in Africa has now drifted away from the confines of its original hotspots of Guinea, Liberia and Sierra Leone, and after spreading to Africa's most populous nation Nigeria, and the third most populated city in the world, Lagos, it appears to have just entered the second largest country in Africa by area, and fourth most populous African nation: the Democratic Republic of the Congo.
Reuters reports that the Democratic Republic of Congo has sent its health minister and a team of experts to the remote northern Equateur province after several people died there from a disease with Ebola-like symptoms, a local official and a professor said on Wednesday.
"An illness is spreading in Boende but we don't know the origin," said Michel Wangi, a spokesman for the governor's office. "The government has sent a team of experts from the INRB(National Institute of Biomedical Research) this morning led by the health minister (Felix) Kabange Numbi and acting governor Sebastian Impeto."
A professor accompanying the delegation in the presidential plane confirmed that they were en route this morning to find out "the exact nature of the illness that caused the Boende deaths".
An Equateur resident who asked not to be named said that around ten people had died, including four health care workers, after suffering from fever, diarrhoea and bleeding from the ears and nostrils - all symptoms of the deadly Ebola virus.
It was not immediately clear if there was any connection with Ebola. An epidemic of that disease has killed more than 1,200 people in Guinea, Liberia, Sierra Leone and Nigeria.
We expect that it will be "clear" quite soon, at which point one can add the DRC to the list of increasingly more confirmed countries where the Ebola epidemic, so far completely "priced in", has spread to.
Not to worry, people that buy things don't fit Toll's demographic....lol.
Target (TGT) reported quarterly earnings that missed analysts' expectations on Wednesday, and slashed its outlook for the full year.
After the earnings announcement, the company's shares fell in premarket trading.
So....is this what home improvement companies do in a recovery?
(Reuters) - Lowe's Cos Inc (LOW.N), the world's No. 2 home improvement products retailer, reduced its sales forecast for the full year, sending its shares down 4 percent in premarket trading.
What do these guys know? They really need to get out and enjoy life more.
Mortgage-finance giant Fannie Mae slashed its outlook on Monday for housing market this year and next, reasoning that too much momentum was lost during the first half of the year.
In its August forecast, Fannie said it expects construction starts for single-family homes to hit 642,000 in 2014, down about 8% from its July forecast of 696,000, according to the company's monthly releases. Likewise, Fannie cuts its outlook for new single-family homes sales in 2014 by 11% to 431,000 from 486,000.
Rising mortgage rates, bad winter weather and consumer "conservatism" are all hitting the housing market, said Doug Duncan, Fannie's chief economist.
"With respect to housing's contribution to growth this year, we have downgraded our outlook following the disappointing housing activity seen during the first half of the year," Duncan said. "We currently estimate that 2014 will finish lower in total sales figures than 2013 – and that 2015, while stronger than 2013 and 2014, will not be the breakout year some are expecting."
Fannie on Monday downgraded its monthly forecasts for 2014 sales of previously owned (or "existing") home sales, and cut 2015's expectations for home-construction starts and sales.
Fannie's downbeat take on the housing market contrasts with actual builders, who, according to separate data released Monday, are the most confident they've been since the year started. Builders are more optimistic about current and upcoming sales of single-family homes, thanks to job growth and relatively low mortgage rates, among other factors.
Tuesday morning the government will report on housing starts for July, and economists polled by MarketWatch expect construction to recover, jumping to an annual rate of 975,000 from June's surprisingly slow pace of 893,000, which was a nine-month low.
Yep, its getting worse.
While the Ebola outbreak in west Africa has long since left the "under control" stage, things are about to go from worse to inconceivable for the poverty stricken African nations, after Liberian officials said they Ebola could soon spread through the capital's largest slum after residents raided a quarantine center for suspected patients and took items including blood-stained sheets and mattresses.
According to AP, the violence in the West Point slum occurred late Saturday and was led by residents angry that patients were brought from other parts of the capital to the holding center. It was not immediately clear how many patients had been at the center. West Point residents went on a "looting spree," stealing items from the clinic that were likely infected, said a senior police official, who spoke on the condition of anonymity because he was not authorized to brief the press. The residents took mattresses, sheets and blankets that had bloodstains, which could spread the infection.
It goes without saying that if and when Ebola strikes the heart of one of the poorest ghettos in Africa, then there is no model that can predict just how far and wide the disease could spread.
And speaking of spreading, what many have feared may have come to pass after Spain announced it was investigating a suspected case of Ebola after a Nigerian man presented symptoms of the virus at a hospital in Alicante several days after flying in from the West African country.
The Telegraph reports:
The man, who has not been named but is said to be in his 30s, was admitted into San Joan hospital in Alicante on Saturday evening where he was being treated in an isolation unit.
Hospital sources confirmed he was suffering a fever of 38.3 degrees Celsius (100.9F) as well as "other symptoms associated with Ebola - including physical discomfort, vomiting and bleeding".
The patient told doctors that he had arrived in Spain from Nigeria "a few days ago".
Hospital authorities said they had "activated protocol" to deal with the infectious disease while they awaited test results.
But even that is nothing compared to what may transpire if what the Times of India reported moments ago, turns out to be accurate: three persons from Ebola-affected Nigeria, who arrived here Saturday morning, have been admitted to the Ram Manohar Lohia Hospital for screening and treatment if required. The three Nigerians, aged 79, 37 and 4 years had fever and their tests were being done at the National Centre for Disease Control (NCDC), Delhi, an official release said here.
In addition to this, a 32-year-old Indian from Durg in Chhattisgarh who returned from Nigeria has been admitted to a hospital in Bhilai. His samples are also being tested at NCDC, the release said. WHO has said air travel, even from Ebola-affected countries, is low-risk for transmission of the disease. WHO has reported a total of 2,127 cases and 1,145 deaths due to Ebola from affected countries.
India is the second most populous country in the world with a population of over 1.2 billion.
Hard to believe in this red hot economy.
Star-Herald Staff Report
Nationstar Mortgage in Scottsbluff will layoff approximately 90 workers at their Scottsbluff facility, according to Twin Cities Development Executive Director Rawnda Pierce.
Pierce said she was able to confirm the layoffs Friday. According to Pierce, most of the layoffs will occur in September and October.
lets hope its a good thing....
How can it not be?
T no longer wanted this property, and FTR was willing to buy it. T-Conn workers should be very grateful that FTR wanted to buy them.
FTR doesn't have a dog in this fight. Should be interesting to watch.
Marcelo Claure is only one week into his new role as CEO of Sprint (S) and already he is promising some big changes, which could ignite a wireless price war and mean better deals for consumers.
In a company-wide town hall meeting yesterday, Claure reportedly said the company will introduce "very disruptive" prices next week. Yahoo Finance Editor-in-Chief Aaron Task said this not just bluster from Claure, and we will probably see a price war break out in the next couple of weeks. “I think this is what Claure has done in the past and he believes in sort of the cheap phone market,” Task said.
Sprint’s parent company is Japan’s Softbank, and founder Masayoshi Son, who is the chairman of the company, is also a big supporter of the new CEO. Claure joined Sprint’s board in January. He was also the founder of mobile phone distributor Brightstart, which was acquired by Softbank last year. Son brought in Claure to replace Dan Hesse last week when Sprint announced it called off plans to takeover T-Mobile (TMUS) after facing huge resistance from regulators.
Umm....because the economy is doing so well?
(Reuters) - Deere & Co, the world's largest maker of farm equipment, said it would indefinitely lay off more than 600 employees at plants in Illinois, Iowa and Kansas as falling grain prices hurt demand for tractors, harvesters and other agricultural machinery.
The company reported a 5 percent drop in third-quarter sales on Wednesday and cut its full-year profit forecast.
Yes, this is exactly what a red hot economy looks like.
Cisco Systems Inc. (CSCO) once again moved to cut costs after reporting a quarter of little growth, stating it will remove about 6,000 employees from its payrolls.
The job reductions, which amount to about 8% of the technology giant's global workforce, come as Cisco continues to struggle in emerging markets and in selling to cable companies and other service providers.
Now this is very inconvenient for all the Pollyanna's.
How much longer can the myth of a housing recovery remain alive in the mainstream media's narrative? The smoothed average of Mortgage Applications in the US fell to its lowest since September 2000 this week. Mortgage applications have slumped for 9 months... as mortgage rates have declined notably... but still we are told 'rates are just too high'. And yet, bullish market protagonists are convinced rates are due to rise (and the bond market is wrong) - one can only imagine the slump if that should occur...
Isn't this where the pseudo-rich shop?
Just might fit the Toll demographic.
(Reuters) - Macy's Inc (M.N) cut its full-year same-store sales forecast, after second-quarter sales failed to make up for weakness in the first quarter when harsh weather kept shoppers away.
Macy's earnings for the quarter ended Aug. 2 also missed the average analyst estimate.
"...Many customers still are not feeling comfortable about spending more in an uncertain economic environment," Chief Executive Terry Lundgren said in a statement on Wednesday.
Shares of the company, which also owns the high-end Bloomingdale's chain, were down 5 percent in premarket trading.
EAST MILLINOCKET, Maine (NEWS CENTER) -- It was back in early February, Great Northern Paper announced it was temporarily laying off 212 mill workers. The company, blaming production costs and low market prices. Forty-four of the facility's employees stayed on the job to maintain the needed systems for a production restart.
In May, Members of Maine's Congressional Delegation announced workers are eligible for Trade Adjustment Assistance benefits. This is a program from the Department of Labor designed to help workers who have lost their jobs because of increased imports or a shift of production outside of the United States.
And then on Friday, August 8th GNP announced all the layoffs are now permanent.