More than 300 Carrier Corp. workers were being laid off Thursday from the company's Indianapolis factory as part of an outsourcing of jobs to Mexico that drew criticism last year from then-presidential candidate Donald Trump. The nearly 340 workers clocked out after their final shifts at Carrier's gas furnace factory. Carrier announced in February 2016 that it would close the Indianapolis plant and cut about 1,400 production jobs in a move expected to save $65 million annually by moving furnace production to Mexico.
If you listen to Starbucks (SBUX) execs, then everything at the coffee giant is amazing. Do some work in Microsoft (MSFT) Excel (as the analysts at Credit Suisse did below on Wednesday), and a glaring issue comes to light. That is, for all its digital leadership and ability to crank out new, more expensive drinks, Starbucks sales are on a long-term downtrend. Seeing as employee hourly wages and benefit costs are on the rise, as are costs to open new locations, a stubborn downtrend in sales is very unwelcome. It's especially unwelcome as most on Wall Street remain obsessed with Starbucks' growth prospects -- they could be in for some unfortunate surprises on the bottom line over the next year
General Electric's (GE) quarter probably won't be pretty. TheStreet's Action Alerts PLUS portfolio manager Jim Cramer awaits quarterly results from General Electric (GE) and Honeywell (HON) , released on Friday before the markets open. "I think they will be terrible," Cramer said in an interview about GE's results. The only savings grace may be what a new CEO tells analysts on a conference call. John Flannery, a career GE executive, is set to take the CEO's chair on Aug. 1 from Jeffrey Immelt, whose popularity with investors waned as GE shares moved sideways in recent years. Activist Nelson Peltz's firm Trian Fund Management took a stake in the firm in 2015 and pushed for improvements. Although