Biggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies
Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates “massive workforce reductions in September.” The law requires a 60-day waiting period before large layoffs occur. Layof..>> view originalFlint-area jail will stick with bottled water for inmates
FLINT, Mich. (AP) — Inmates at a Flint jail will continue to drink bottled water until tests show tap water meets federal standards. The Genesee County sheriff on Tuesday agreed to keep the jail stocked with bottled water. The Flint Journal (http ...>> view originalS&P 500 Weekly Update: A Mid-Year Review, Resetting Market Expectations, 'Stay The Course' Remains In Place
"Headlines, in a way, are what mislead you because bad news is a headline, and gradual improvement is not." - Bill Gates Looking back to the August 2015 time period, the stock market was flirting with the 1,800 level on the S&P 500 and people were panicking. The cry of the day was that the market must know something, and that something has to be really bad. A global recession was looming. Move ahead to the January/February time frame and investors found themselves in exactly the same place. This..>> view originalWill Social Security Disappear When the Trust Fund Runs Out?
Millions of older Americans depend on Social Security to provide the income they need in retirement, so any negative news surrounding the program is potentially cause for alarm. That's why the most recent Social Security Board of Trustees' report is somewhat concerning. According to the Board's latest projections, Social Security's combined trust funds will be depleted in 2034, which is consistent with last year's findings. But while this certainly isn't good news, it doesn't mean that Social S..>> view originalHome warranties can be worth it (but read the fine print)
Deborah Kearns, NerdWallet 6:30 a.m. EDT July 3, 2016Home warranties can protect your investment, with some stipulations.(Photo: iStockphoto)When Courtney St. Gemme-Chandler and her husband bought an older home in Aurora, Colo., in 2012, they assumed it would need some minor TLC. But their elation at the closing table soon turned to frustration when the house started falling apart — and repair costs began piling up.Right after they moved in, a pipe burst under the concrete in the ba..>> view originalKissinger: US Must Remain Allied With Great Britain
The United States should "never accept Great Britain at the end of the queue" following the historic Brexit vote, as the country remains a vital ally to the United States and its interests, Dr. Henry Kissinger said Saturday, while at the same time challenging the European Union to seek an identity that he does not believe will act in opposition to the United States. "We should treat the European Union as a potential partner, " the retired Secretary of State told economist La..>> view originalJury awards $27M to 4 fired Allstate employees
CHICAGO (AP) รข€” A federal jury has awarded more than $27 million to four former Allstate employees who sued the insurer for defamation.The Chicago Tribune reports (http://trib.in/29cQ955 ) the employees worked for a now-defunct equity division of the Northbrook, Illinois-based company. According to court documents, they were fired in 2009 for allegedly timing trades to increase their incentive bonuses. Allstate blamed "some employees" in a 2010 Securities and Exchange Commission filing for tim..>> view original
Monday, July 4, 2016
Biggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies and other top stories.
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