Business News Archive - March 28, 2009

ARLINGTON, Va., March 28 /PRNewswire-USNewswire/ -- The following is a statement by AIA President and CEO Marion Blakey: Randy Babbitt is an excellent choice to head the Federal Aviation Administration.

Up to 800 workers were laid off from Walt Disney World in Orlando, Fla., this week, receiving escorts off the property, sources say. Citing unnamed sources, Orlando, Fla., cable news channel Central Florida News 13 reported Friday that the layoffs involved between 400 and 800 Walt Disney World workers, a number that officials of the massive theme park would not confirm.

General Motors Corp. is unlikely to meet the U.S. government's March 31 deadline for wringing concessions from workers and bondholders, analysts say.

New York mutual fund pioneer and wonder drug promoter Jack Dreyfus has died at age 95 in Manhattan, hospital officials said. Dreyfus, who gained fame and fortune as a financier who turned his mutual funds into a Wall Street institution, died Friday at New York Presbyterian Hospital/Weill Cornell Medical Center, The New York Times reported. Dreyfus was one of Wall Street's the most successful investors in the 1950s and 1960s, and has been credited with popularizing participation in the stock market with a generation of Americans via his Dreyfus Fund, which became one of the first widely marketed mutual funds.

Sears Holdings Corp. says it's updated the Kmart and Sears Web sites so shoppers can browse both stores at once and share product photos on Facebook. If a shopper clicks onto Kmart.com and navigates to women's tops, the site shows photos and descriptions of tops at Kmart and at Sears.

Word of the Day
  • a slit in a tire to drain away surface water and improve traction.
The word 'sipe' comes from Old English and is related to 'seep'.