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Business News Archive - May 16, 2009

Record Adjusted Net Sales(1) RALEIGH, N.C., May 16 /PRNewswire/ -- Sensus, a leading provider of high-value advanced metering infrastructure ("AMI") and metering system solutions to utilities worldwide, today announced financial results for the fiscal fourth quarter ended March 31, 2009.

Quarterly numbers released this week by massive DVD rental chain Blockbuster Inc.

Prudential Financial Inc. will join Ameriprise Financial as insurers rejecting help from the U.S.

Auto financing firm GMAC says it will rename itself Ally Bank, reflecting its re-launch as a bank holding company in the wake of auto industry woes. The new name marks the moving away from a GMAC brand that goes back to 1919 when it was established in Detroit as General Motors Acceptance Corp.

FORT WORTH, Texas, May 16 /PRNewswire-FirstCall/ -- Members of the International Brotherhood of Electrical Workers (IBEW) and the Office and Professional Employees International Union (OPEIU) have ratified new labor agreements with Lockheed Martin (NYSE: LMT) Aeronautics in Fort Worth.

A government-imposed deadline has passed for the Canadian Auto Workers union and General Motors Canada to reach a labor contract, officials said. Both sides of negotiations said more time was needed before an agreement could be hammered out, the Canadian Broadcasting Corp.

WASHINGTON, May 16 /PRNewswire-USNewswire/ -- The National Restaurant Association today launched a new campaign - the National Restaurant Association Conserve/EPA ENERGY STAR Challenge - and is encouraging the nation's nearly one million restaurants, their 13 million employees, as well as their suppliers and guests to reduce energy and water use in establishments.

South Korean officials said Saturday they will continue efforts to hold talks with North Korea on the fate of their troubled joint industrial complex. Officials want to press ahead for discussions despite North Korea's move to unilaterally void existing wage and rent contracts at Kaesong, Yonhap News Agency reported. Given the analysis of the contents of North Korea's letter (to the South) and attitude, North Korea seems to be moving to shut down the Kaesong industrial zone, but not immediately, a government official said.

About 15,000 Fiat workers marched in Turin, Italy, Saturday demanding job guarantees as the automaker mulls a merger with Germany's Opel, witnesses said. The autoworkers, who came from assembly lines from throughout southern Italy, began their march at Fiat's Mirafiori factory and walked toward the company's headquarters, the BBC reported. Fiat is working to forge an alliance with the bankrupt U.S.

Word of the Day
swell-mobsman
  • A member of the swell-mob; a genteelly clad pickpocket. Sometimes mobsman.
Use of the word 'swell-mobsman' dates at least to the early 1800s.