Thursday, February 26, 2009
SEARS Closes Stores to Cut Costs
Sears, the parent company of K-mart and Sears Roebuck, closed 30 stores in 2008 and plans to continue with the strategy. On Thursday, Sears said it decided to close another 24 stores. The company is expecting that this will add earnings, eliminate negative cash flow, and generate cash from the liquidation of inventory.
Yahoo CFO not opposed to sale
Internet firm Yahoo! is not oposed to making a deal that could potentially sell it's search business, CFO Blake Jorgensen said on Wednesday.
Jorgensen also said that the search business is intertwined with Yahoo's other online products and properties, and so any deal, a partnership or a sale, would be done for the right reasons and right economics.
Yahoo CEO Carol Bartz said she did not join the company in January to sell it, nor did she have the preconceived notion of doing a serch deal.
Jorgensen also said that the search business is intertwined with Yahoo's other online products and properties, and so any deal, a partnership or a sale, would be done for the right reasons and right economics.
Yahoo CEO Carol Bartz said she did not join the company in January to sell it, nor did she have the preconceived notion of doing a serch deal.
Wednesday, February 25, 2009
Proposed Bill Requires Factories to Notify Officials During Crisis
Because of 2 deaths from a chemical plant explosion last year, a bill was proposed that would require industrial facilities to contact emergency responders within 15 minutes of a major accident.
Senate Bill 279, proposed by Governor Joe Manchin, states that in the case of an emergency, factories and plants must contact the state's Mine and Industrial Accident Operations Center within 15 minutes of the incident.
During recent hearings, lawmakers speculate whether the proposed bill gives enough leeway to companies to deal with the crisis and notify all of the appropriate people. Lawmakers also question the provision that would fine facility operators $100,000 if they fail to comply with the 15 minute deadline.
Senetor Bob Williams said “A small plant fails to meet the 15-minute deadline because they’re dealing with an emergency and are subject to a $100,000 fine is a subject of concern. You have very little leeway, so if you find in a situation make a call within 16 minutes instead of 15, it seems you are mandated by this bill to impose a $100,000 fine".
Committee members also were concerned that the ruling lacked a definition for the types of emergencies that would require factories to contact the center.
Due to the questions regarding the bill, committee chairman Mike Green assigned a sub-committee to further review the legislation and return with proposals for amendments.
Senate Bill 279, proposed by Governor Joe Manchin, states that in the case of an emergency, factories and plants must contact the state's Mine and Industrial Accident Operations Center within 15 minutes of the incident.
During recent hearings, lawmakers speculate whether the proposed bill gives enough leeway to companies to deal with the crisis and notify all of the appropriate people. Lawmakers also question the provision that would fine facility operators $100,000 if they fail to comply with the 15 minute deadline.
Senetor Bob Williams said “A small plant fails to meet the 15-minute deadline because they’re dealing with an emergency and are subject to a $100,000 fine is a subject of concern. You have very little leeway, so if you find in a situation make a call within 16 minutes instead of 15, it seems you are mandated by this bill to impose a $100,000 fine".
Committee members also were concerned that the ruling lacked a definition for the types of emergencies that would require factories to contact the center.
Due to the questions regarding the bill, committee chairman Mike Green assigned a sub-committee to further review the legislation and return with proposals for amendments.
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