Memble

FDA approves new swine flu vaccine

The Food and Drug Administration approved the new swine flu vaccine Tuesday, a long-anticipated step as the government works to start mass vaccinations next month. Limited supplies should start trickling out the first week of October -- about a week earlier than expected, Health and Human Services Secretary Kathleen Sebelius told Congress. Then about 45 million doses should arrive around Oct. 15, followed by more shipments each week.

She said they'll be available at up to 90,000 sites, including schools and clinics, across the U.S. that state health departments have chosen as best at getting the shots out fast.[AP]

Automakers try to energize electric-car business

The race is on among the world's auto companies to make electric cars go farther on a single charge, bring the price down to compete with gas-powered vehicles, and give drivers more places to recharge them than just the family garage.

Electric is the big buzz at the 63rd Frankfurt Auto Show this week, and nearly every major automaker has at least one on display. Renault introduced no fewer than four electric models, while Tesla, the only company producing and selling purely electric cars, handed over the keys to its 700th all-electric vehicle, a blue Roadster Sport, to a German buyer at the show.

If the models unveiled Tuesday are any indication, the notion of electric cars as small, stunted boxes with little range is about to be junked.

US job openings fall to lowest level in 9 years

Job openings fell to the lowest level in nine years in July, according to a Labor Department report Wednesday, as businesses remain reluctant to hire despite signs the economy is improving.

The department's Job Openings and Labor Turnover survey, or JOLTS report, found that businesses and government advertised 2.4 million open positions on the last day in July, down from 2.5 million in June. That's also the fewest openings since the department began compiling the data in December 2000.

Still, jobs are being added in some sectors, as companies seek more health care, technology and child care workers.

The report underscores the tough competition that jobless Americans face. With 14.5 million unemployed people in July and only 2.4 million openings, that means there were six unemployed people, on average, for every job opening. [AP]

Obama setting up better security for computers

America has failed for too long to protect the security of its computer networks, President Barack Obama said Friday, announcing he will name a new cyber czar to press for action.

Surrounded by a slew of government officials, aides and corporate executives, Obama said the U.S. has reached a "transformational moment" when computer networks are probed and attacked millions of times a day.

He said he will soon pick the person he wants to head a new White House office of cyber security, and that person will report to the National Security Council and the National Economic Council -- a nod to his contention that the country's economic prosperity depends on cybersecurity. (AP)

Cardinal Health to cut 1,300 jobs at clinical unit

Cardinal Health Inc. said Tuesday its clinical and medical products unit will eliminate 1,300 jobs, with most of the cuts made over the next six months, as hospitals cut back on equipment purchases.

Cardinal plans to spin the unit off later this year under the name CareFusion Corp. Cardinal said the business will lay off 800 people and eliminate 500 more jobs through attrition. The region most affected by the job cuts is southern California, with 200 jobs in San Diego being eliminated. [AP]

Ford, GM to cover car payments if buyer loses job

Ford Motor Co. and General Motors Corp. are offering payment protection plans to help reassure consumers who may be putting off buying a new car because of worries about losing their job.

The offers come as auto sales have been battered by the recession and tight credit, reaching their lowest levels in 27 years.

Ford said Tuesday it will cover payments of up to $700 each month for up to a year on any new Ford, Lincoln or Mercury vehicle if consumers lose their jobs. The program runs until June 1. [AP]

Insurers offer to stop charging sick people more

The health insurance industry offered Tuesday for the first time to curb its controversial practice of charging higher premiums to people with a history of medical problems.

The offer from America's Health Insurance Plans and the Blue Cross and Blue Shield Association is a potentially significant shift in the debate over reforming the nation's health care system to rein in costs and cover an estimated 48 million uninsured people. It was contained in a letter to key senators. [AP]

Home prices post 6.3 pct annual decline in January

A government report says U.S. home prices fell 6.3 percent in January from the same month last year.

The Federal Housing Finance Agency says prices, on a seasonally adjusted basis, rose 1.7 percent from December to January.

Changes in the geographic mix of sales explained the unexpected monthly increase. Home sales included in January's data were weighted toward areas that haven't borne as much of the brunt of the housing recession, the agency says. [AP]

GM cuts 10,000 salaried jobs, trims employees' pay

General Motors Corp. is planning to slash another 10,000 salaried jobs this year, saying the cuts are unavoidable with a government restructuring deadline looming and industrywide sales in one of the worst downturns in history.

The Detroit-based automaker said Tuesday it will reduce its total number of white-collar workers by 14 percent to 63,000. About 3,400, or 12 percent, of GM's 29,500 salaried U.S. jobs will be eliminated.

Most of the company's remaining salaried employees will have their wages cut. [AP]

New jobless claims jump more than expected to 626K

New jobless claims jumped far more than expected last week in an already dismal labor market, and there's no relief in sight for workers as mass layoffs persist.

The Labor Department reported Thursday that the number of newly jobless workers seeking benefits rose last week to a seasonally adjusted 626,000, from the previous week's upwardly revised figure of 591,000. The latest total is far more than analysts' expectations of 583,000.

That's also the highest since October 1982, when the economy was in a steep recession, though the work force has grown by about half since then. (AP)

Freddie Mac to ask for billions more in funds

Mortgage finance company Freddie Mac said Friday it will need an additional $30 billion to $35 billion in government aid as it copes with losses on loans the company backed during the U.S. housing bubble.

The company disclosed in a Securities and Exchange Commission filing late Friday that it expects its government regulator, the Federal Housing Finance Agency, to make the request from the Treasury Department.

It comes on top of the $13.8 billion the company received last year after it was seized by the government. Sibling company Fannie Mae has yet to request any such aid but has warned it may need to do so. [AP]

Harley to cut 1,100 jobs as 4Q profit falls

Harley-Davidson Inc. said Friday it will cut 1,100 jobs over two years, close some facilities and consolidate others as it grapples with a slowdown in motorcycle sales.

The Milwaukee-based company also reported its fourth-quarter profit fell nearly 60 percent, and said it is slashing motorcycle shipments in 2009 to cope with reduced demand.

The iconic motorcycle maker said it will consolidate two engine and transmission plants in Milwaukee into its facility in Menomonee Falls, Wis. It will shrink its paint and frame operations in its York, Pa., plant and close its distribution facility in Franklin, Wis., whose duties will be handled by a third party. [AP]

Oil prices baffle traders; soar 6 pct to end week

The government reported by midweek that oil inventories had soared, suggesting a serious dent in demand; there were horrible housing and jobless numbers Thursday and to end the week there was talk that OPEC couldn't cut production fast enough. Over the same three days, oil prices jumped 11 percent.

Traders searched for logic in a market that seemed to defy it, and by Friday had largely given up.

Light, sweet crude for March delivery soared more than 6 percent Friday, or $2.80, to settle at $46.47 a barrel on the New York Mercantile Exchange. In the volatile hours between market open and close, prices swung as low as $41.40 and as high as $47.

The Importance of Logo Design

When we start a business, it's an important thing to define the identity of our company. A corporate identity can be defined as the name and the company logo. Company name should reflect the kind of product or service that you offer. For example, if you are running an auto rental service, you can pick names such as AutoRent, FastCarRent, or RentACar as well as Nursing Center or Health Media for medical companies. These terms of word can instantly define your field of business as soon as people recognize your company name.

Logo is a visual representation from the compay name. Some research shown that most people react more intensive to pictoral or photo figures rather than a group of words. By designing your company logo with the proper style of your company expertise, the mix between your company name and the logo can build certain image to your customer/audience. As your logo exposed to public in a certain time, your company soon started to recognize as a unique identity that differ from other company which serves similar field of business.

Google exceeds 4Q forecasts, though earnings drop

Google Inc.'s profit slipped for the first time in the fourth quarter, but the Internet search leader is still weathering the economic storm better than analysts anticipated.

The results released Thursday indicated the Mountain View-based company was able to rein in its free-spending ways enough to offset a slowdown in the online ad market that generates most of Google's revenue. That contrasted with a missed forecast and 5,000 layoffs announced earlier in the day by rival Microsoft Corp.

Even so, there were signs the recession is starting to bear down on Google. (AP)

Microsoft resorts to first layoffs, cutting 5,000

Microsoft Corp. will make the first mass layoffs in its 34-year history, cutting 5,000 jobs as demand for personal computers falls and even one of the world's richest companies gets burned by the recession.

The company announced the cuts Thursday as it reported an 11 percent drop in second-quarter profit, which fell short of Wall Street's expectations. Microsoft shares fell more than 11 percent. (AP)

Layoffs spike, housing tumbles; outlook worsens

The number of newly laid-off Americans filing jobless claims and the pace of home construction both posted worse-than-expected results in government data released Thursday, lending urgency to the economic recovery plan President Barack Obama and Congress are scrambling to advance.

The latest batch of economic news cemented fears that the recession, already in its second year, will drag on through much of 2009.

And the furious pace of layoffs continued Thursday, with Microsoft Corp. saying it will slash up to 5,000 jobs over the next 18 months. Chemical maker Huntsman Corp. will ax 1,175 jobs this year and will get rid of an additional 490 contractors. Those -- as well as other employers -- have seen customer demand wane and are cutting costs to survive the fallout. [AP]

Crude markets grow volatile with inventory buildup

Oil prices rose in volatile trading Thursday after the government reported an enormous buildup of oil and gasoline at U.S. storage facilities, another manifestation of how badly the deteriorating economy has cut into energy demand.

With the latest report from the Department of Energy, crude inventory levels have risen by 14 million barrels since the week ended Jan. 2, pushing operational capacity at key storage sites to the limit.

Prices tumbled 7 percent before a late day rally, with light, sweet crude for March delivery settling up 12 cents at $43.67 on the New York Mercantile Exchange. (AP)

Apple's Jobs has hormone imbalance, will stay CEO

Apple Inc. founder Steve Jobs, a survivor of pancreatic cancer whose gaunt appearance in the past year has alarmed the Mac and iPod lovers who look to him as an oracle, said Monday he has an easily treated hormone imbalance and will remain in charge of the company.

The news sent Apple stock up more than 4 percent on a down day for much of the market. But Jobs did not say whether the problem was related to the cancer.

At Apple, Jobs has presided over a decade of huge success. His mix of secrecy and high-design principles, seen in the rollouts of new Mac computers, the iPod music player and the iPhone, has become a trademark. [AP]

Chrysler sales drop 53 pct; others not much better

Chrysler LLC's December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008, dwarfing the steep declines at the other major automakers as consumers remained uncertain about the economy and their jobs.

Chrysler said Monday its December sales dropped 53 percent because of the recession and fewer fleet sales, while Toyota Motor Corp. reported a 37 percent slide and Honda Motor Co. said its sales tumbled 35 percent.

Ford Motor Co.'s U.S. sales fell 32 percent in December. General Motors Corp. and Nissan Motor Co. both posted 31 percent declines. [AP]

Construction spending shows gains but outlook grim

Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing. But the outlook remains bleak as credit is tight for builders trying to stay afloat amid a recession entering its second year.

Construction spending fell 0.6 percent in November, the Commerce Department reported Monday, less than half of the 1.3 percent decline economists had expected.

While housing took another sharp tumble, dropping 4.2 percent, this was partially offset by a surprisingly strong 0.7 percent rise in nonresidential activity.

But the pickup in nonresidential construction -- which includes office buildings, shopping centers and hotels -- was seen as a temporary blip.[AP]

Stores cut prices to entice post-holiday shoppers

As stores offered rock-bottom prices and extended return policies, shoppers returned to the malls the day after Christmas. But many were on the hunt for big bargains on specific items or hoping to return unwanted gifts — not looking to splurge.

Holiday sales — which typically account for 30 percent to 50 percent of a retailer's annual total — have been less than jolly. Job cuts, portfolio losses and other economic woes have led many Americans to cut back on their spending. Meanwhile, strong winter storms kept some would-be shoppers at home.AP

Retail gasoline prices drift to 58-month low

Retail gasoline prices tumbled Friday to the lowest level in nearly four years. And while crude futures rose, analysts believed it was a temporary pause in an extended, downward arc as the recession spreads.

But cheap gas is bittersweet news for an economy that shed millions of jobs this year. Pump prices were driven down mostly because Americans are staying home more.

Light, sweet crude for February delivery rose $2.36, more than 6 percent, to close at $37.71 a barrel on the New York Mercantile Exchange. Trading was closed Thursday for Christmas. [AP]

Amazon says 2008 holiday season was 'best ever'

Online retailer Amazon.com Inc. called this holiday season its "best ever," saying Friday that it saw a 17 percent increase in orders on its busiest day — a rare piece of good news in a season that has been far from merry for most retailers, including online businesses.

Amazon customers ordered more than 6.3 million items on Dec. 15, compared with roughly 5.4 million on its peak day last year, the company said. It shipped more than 5.6 million products on its best day, a 44 percent rise over 2007, when it shipped about 3.9 million on its busiest day.

New TNK-BP board elected

Anglo-Russian oil joint venture TNK-BP elected a completely new board at an extraordinary shareholders' meeting Monday, bringing to a close one of the most bitter corporate disputes in Russia this year.

The board includes four representatives from each Russian and British shareholders and one independent director. [AP]

FDIC adds 54 more banks to its 'problem list'

The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter -- yet another sign of escalating problems among the institutions controlling Americans' deposits.

The 171 banks on the FDIC's "problem list" encompass only about 2 percent of the nearly 8,500 FDIC-insured institutions. Still, the increase from 117 in the second quarter is sharp, and the current tally is the highest since late 1995. [AP]

Oil prices jump again in volatile trading week

Oil prices rose sharply Wednesday as a large interest rate cut in China and news of a possible Russian output cut appeared to counter another round of dour economic news and larger-than-expected crude stockpiles in the U.S.

Trading followed this week's established pattern of volatility in the oil markets.

In Nymex trading, light, sweet crude for January delivery jumped more than 7 percent, or $3.67 to settle at $54.44 a barrel. [AP]

New jobless claims drop from 16-year high

New jobless claims fell more than expected last week from a 16-year high, the government said Wednesday, though they remain at elevated levels due to the slowing economy.

The Labor Department reported that initial requests for unemployment benefits fell to a seasonally adjusted 529,000 from the previous week's upwardly revised figure of 543,000. That is lower than analysts' expectations of 537,000.

Despite the improved number, initial claims remain at recessionary levels. The four-week average, which smooths out fluctuations, rose to 518,000, its highest level since January 1983, when the economy was emerging from a steep recession. [AP]

Genentech 3Q profit rises, meets forecast

Genentech Inc.'s third-quarter profit rose 6.7 percent on rising sales of key cancer drugs, the biotechnology company said Tuesday, matching Wall Street's profit forecasts.

The company lowered the top end of its expected outlook for the year as a result of costs for a program it created in response to an unsolicited buyout offer during the quarter from cancer drug partner Roche.

The company earned $731 million, or 68 cents per share in profit, up from $685 million, or 64 cents per share during the same period a year prior. Revenue rose 17 percent to $3.41 billion from $2.91 billion.

Johnson & Johnson 3Q profit rises, tops views

Health care giant Johnson & Johnson on Tuesday posted a 30 percent jump in third-quarter profit and beat Wall Street expectations, mainly because the year-ago results were weighed down by a $745 million restructuring charge.

Higher sales of consumer products and medical devices, boosted overseas by the weak dollar, also helped the New Brunswick, N.J.-based maker of contraceptives, baby care items, medical devices and prescription drugs. It reported net income of $3.31 billion, or $1.17 per share, up from $2.55 billion, or 88 cents per share, in the year-ago period.

Revenue climbed 6.3 percent, to $15.9 billion from $14.97 billion, but was boosted 3.1 percent by favorable currency exchange rates.

Apple to offer $999 entry laptop, better graphics

Apple Inc. touched up its line of laptop computers Tuesday with a minimal nod to the economic turmoil that might push consumers to be more frugal this holiday shopping season.

Apple did lower its least expensive laptop, the existing version of the entry-level MacBook, by $100 to $999.

But in the updated versions of its MacBook and MacBook Pro machines, Apple focused mainly on adding features.

PepsiCo to cut 3,300 jobs as profit falls 10 pct

PepsiCo Inc. is cutting jobs and closing factories to give it some "breathing room" to navigate the volatility that has permeated all corners of the global economy.

The maker of Pepsi-Cola, Doritos and Sun Chips said Tuesday it plans to eliminate 3,300 jobs and shutter six plants in an effort to save $1.2 billion over three years. It plans to use the savings primarily to revive lagging U.S. soft drink sales.

The announcement came as the global snacks and drinks company reported a 9.5 percent drop in third-quarter profit, missing Wall Street expectations. PepsiCo also issued a downbeat profit outlook for the fourth quarter and full year.

Best Buy to acquire music-sharer Napster

Napster Inc., the online music community that rose from a dorm room project to became the scourge of the global recording industry, is being purchased by Best Buy Inc. for nearly $127 million as the electronics retailer tries to boost its digital music business.

The $2.65 per share all-cash deal announced Monday is nearly double the music network's Friday closing price but a small sum to pay for Best Buy, which gets access to Napster's 700,000 subscribers who pay a monthly fee to access digital music catalogs.

Lehman Brothers files for Chapter 11 protection

Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 protection in the biggest bankruptcy filing ever on Monday and said it was trying to sell off key business units.

The filing was made in the U.S. Bankruptcy Court in the Southern District of New York by Lehman Brothers Holdings Inc., the bank's holding company.

Bank of America agrees to buy Merrill for $50 bln

Bank of America Corp. said early Monday it would acquire Merrill Lynch in a $50 billion all-stock transaction that should lift the uncertainty shrouding the investment bank since the start of the credit crisis over a year ago.

Charlotte, N.C.-based Bank of America has the most deposits of any U.S. bank, while Merrill Lynch & Co. Inc. is the world's largest and most widely recognized brokerage.

Bank of America will rival Citigroup Inc., the biggest U.S. bank in terms of assets.

Oil closes below $100 for first time in 6 months

Oil prices closed below $100 a barrel for the first time in six months Monday, tumbling in another dramatic sell-off as the demise of Lehman Brothers and the sale of Merrill Lynch deepened worries about the U.S. economy.

Crude prices shed more than $5 a barrel and have now given up virtually all their gains for the year, extending a steep, two-month slide from record levels above $147 a barrel.

Oil's pullback also came as early signs suggested that Hurricane Ike delivered less damage than feared to the Gulf Coast energy oil and gas infrastructure. But pump prices jumped above $4 a gallon in parts of the country as a precautionary shutdown of Gulf refineries caused gasoline shortages.

HP to cut 24,600 jobs as part of EDS integration

Hewlett-Packard Co. said Monday it plans to slash 24,600 jobs over the next three years, nearly 8 percent of its work force, as it combines operations with Electronic Data Systems Corp., the technology-services company it recently acquired.

Most of the cuts will come from within EDS's ranks, and nearly half will hit jobs in the U.S., HP said Monday after the markets closed.

HP had not previously detailed how many employees of the combined company would lose their jobs. Before the acquisition, HP had 178,000 people and EDS had 142,000, a total of 320,000.

Continental to charge $15 for 1st checked bag

Continental Airlines Inc. said Friday it is charging some coach customers $15 for a first checked bag, matching a similar fee imposed by most other major U.S. carriers.

A company spokeswoman said the fee would help offset high fuel costs, which have caused Continental and other carriers to lose money this year.

The fee took effect immediately on tickets for travel in the United States and Puerto Rico, the U.S. Virgin Islands and Canada for travel starting on Oct. 7 or later.

Samsung working to acquire SanDisk

Samsung Electronics Co. is pursuing an acquisition of U.S. computer memory card maker SanDisk Corp., a South Korean online business newspaper reported Friday.

Both Samsung and SanDisk neither confirmed nor denied the report. But SanDisk's shares climbed more than 31 percent Friday.

Commodities pullback speeds up as oil tumbles

Investors are fleeing commodities in another massive exodus, reviving debate about whether the futures bubble has burst or is just going through a temporary contraction.

A steep drop in oil prices Tuesday started the latest selling wave, and gold, silver, copper and wheat also posted huge losses.

Oil prices plunge as Gustav dissipates

Oil prices plunged to the lowest level in five months Tuesday, falling to within sight of $100 a barrel on signs that Hurricane Gustav only grazed U.S. energy infrastructure in the Gulf of Mexico.

Light, sweet crude for October delivery fell $5.75 to settle at $109.71 a barrel on the New York Mercantile Exchange, after earlier dropping as low as $105.46. It was the lowest trading level since April 4, just before oil began an unprecedented march above $147 per barrel.

GM recalling 944,000 vehicles

General Motors Corp. said Friday it was recalling 944,000 vehicles because of a problem with a windshield wiper fluid system that could lead to a fire.

More than 850,000 sport utility vehicles, trucks and passenger cars in the United States and nearly 100,000 vehicles in Canada, Mexico and the Middle East are involved in the recall, the company said.

Japan's Ricoh to buy IKON Office for $1.62 billion

IKON Office Solutions, which sells and leases copiers, printers and other office machines, has agreed to a $1.62 billion buyout offer from one of its suppliers, Ricoh Co. of Japan.

The deal will combine IKON's sales and service capabilities with Ricoh's engineering and manufacturing expertise, IKON said.

The cash offer of $17.25 per share disclosed Wednesday represents a 33 percent premium to IKON's average stock price for the last two months, the companies said.

Flights back to normal after FAA software glitch

The FAA said that most flights around the country were back to normal Wednesday, after a software malfunction delayed hundreds of flights on Tuesday.

The flight delays drew new criticism for the Federal Aviation Administration, which has been scrutinized over air traffic controller staffing levels and inspection standards for its ground-based equipment.

The Northeast was hardest hit by the delays prompted by a glitch at a Hampton, Ga., facility that processes flight plans for the eastern half of the U.S.

A-Z Computer Liquidators Offer corporate liquidation solutions, recycling eWaste partnership

A-Z Computer Liquidators has branched out to recycling ewaste partners nationwide. Headquartered in Anaheim California and serving both northern and southern California has partnered with Electronic Waste Management, Los Angeles, California. A-Z Is now able to better serve its corporate clients needing to recycle and dispose of used and outdated Pac’s & laptops, computer parts & supplies, CRT’s & LCD monitors, all sizes printers, copiers, scanners, used servers and data center network hardware.

In today's ever-changing technology marketplace, companies are feeling the pinch when desperately trying o remove unwanted used IT equipment. Select businesses throughout California choose A-Z Computer Liquidators to provide full service disposal, recycling, and remarketing for their obsolete IT assets.

A-Z Computer Liquidators protects an organizations data on existing IT assets. When upgrading their IT infrastructure, companies need cost-effective and an effective EPA process to dispose of obsolete IT assets. A-Z is able with Electronic Waste Management to serve all the recycling requirements of its corporate America clients.

“With the many recycling, liquidation requirements from our business customers, IT assets such as used computers, used monitors, servers and hard drives sitting idle, clients need an organization that can be trusted to adhere to all e-waste environmental regulations” said Holly Wild, Director of Asset Recovery Services at A-Z Computers. "We offer a range of full services and will continue to seek out effective recycling partners so that we can expand out regions and services nationwide.

Hoover Color Selects DEACOM as Catalyst for Continued Business Growth

Deacom, Inc. announced today that Hoover Color Corporation, a supplier of iron oxide pigments for the paint and coating, building product, and plastic industries, has licensed the DEACOM Integrated Accounting and Enterprise Resource Planning (ERP) Software System. Hoover Color will implement DEACOM in place of three non-integrated software systems to support the company's accelerated growth.

Hoover Color was founded in 1923 with the purpose of providing its customers with precise pigment colors in a variety of types. Through advances in processing technology and a historic passion for color, the company has experienced steady growth over the years. In order to meet demand, the company recently underwent a major renovation and expansion project at its Hiwassee, VA, plant. Hoover Color's selection of the DEACOM System was prompted to improve upon its business processes.

"Our former software systems weren't integrated, so there was a great deal of manual entry, from our formulation process to the nightly data uploads required by our accounting system," Chief Operating Officer Chuck Hoover says. "Meeting our customers' coloring demands requires us to operate as efficiently as possible, which means we need total business integration."

The DEACOM ERP System was selected to manage all aspects of the company, including formulation and lab management, Quality Control (QC), regulatory reporting, sales order entry, purchasing, Material Requirements Planning (MRP), inventory and lot control, production, and accounting.

Hoover Color will go live on the DEACOM System in January of 2009. With one point of control, data adjustments will be updated across all departments in real-time. This access to current data will eliminate many of Hoover Color's manual processes, including its nightly data uploads.

"Product quality and consistency are just two reasons why our company has been so successful for more than 80 years. Now [with DEACOM] we will have the technology to handle both our current business requirements and those as we evolve," Hoover says.

To learn more about the DEACOM Integrated Accounting and ERP Software System or to schedule an online demonstration, call 610-971-2278 ext. 15 or visit www.deacom.net.

Ford to spend $75M to retool plant for small cars

Demand for Ford Motor Co.'s Focus and other small cars has been superheated ever since gas prices headed toward $4 per gallon in May, and since then, Ford hasn't been able to build the Focus quickly enough.

On Tuesday, though, the automaker took two steps toward further cranking up Focus production, announcing that it would sink $75 million into the body-making part of an SUV factory next door to the Wayne Assembly Plant, where the Focus is built.

If demand stays strong, the SUV plant will quickly start producing Focus bodies, eliminating what is now a bottleneck that is slowing production.

Oil prices rise as Hurricane Gustav nears Gulf

Oil prices swung higher Tuesday as Hurricane Gustav struck Haiti, raising concerns that the storm could slam into major oil operations in the Gulf of Mexico.

However, the price rise was tempered by a stronger dollar and a report from the Energy Department showing even slower fuel demand than many traders thought.

FAA says communication breakdown delaying flights

An electronic communication failure Tuesday at a Federal Aviation Administration facility in Georgia that processes flight plans for the eastern half of the U.S. was causing hundreds of flight delays around the country.

An FAA Web site that tracks airport status showed delays at some three dozen major airports across the country.

FAA spokeswoman Kathleen Bergen in Atlanta said there were no safety issues and officials were still able to speak to pilots on planes on the ground and in the air.

FDIC: 117 troubled banks, highest level since 2003

The number of troubled U.S. banks leaped to the highest level in about five years and bank profits plunged by 86 percent in the second quarter, as slumps in the housing and credit markets continued.

Federal Deposit Insurance Corp. data released Tuesday show 117 banks and thrifts were considered to be in trouble in the second quarter, up from 90 in the prior quarter and the biggest tally since mid-2003.

The FDIC also said that federally-insured banks and savings institutions earned $5 billion in the April-June period, down from $36.8 billion a year earlier. The roughly 8,500 banks and thrifts also set aside a record $50.2 billion to cover losses from soured mortgages and other loans in the second quarter.

Productivity growth slowed in spring

The efficiency of America's workers grew at a slightly slower pace in the spring as companies sought to produce more with leaner work forces. Workers' compensation growth slowed, too.

The Labor Department reported Friday that productivity -- the amount an employee produces for every hour on the job -- grew at an annual rate of 2.2 percent during the April-to-June quarter. That was down from a 2.6 percent growth rate logged in the first three months of this year.

Economists were forecasting productivity to pick up slightly to a 2.7 percent pace.

Dubai buys fifth of circus troupe Cirque du Soleil

The government-controlled developer of palm-shaped islands off Dubai's coast and a related investment arm said Wednesday they have bought a 20 percent stake in international circus touring company Cirque du Soleil.

Property developer Nakheel and investment company Istithmar World Capital did not say how much they paid for their share of the group, which began performing in Quebec nearly a quarter century ago and is today a mainstay of theaters in Las Vegas and the Far East.

The agreement keeps control of the Montreal-based entertainment company in the hands of founder Guy Laliberte, putting to rest for now speculation that the troupe would be sold outright.

CarMax to slow growth after seeing sales drop

Used vehicle retailer CarMax Inc. said Wednesday it is reducing staffing levels and will temporarily slow its store growth after seeing a sharp drop in car and truck sales because of high gas prices.

CarMax originally withdrew its fiscal-year sales and earnings guidance in June, after sales dropped beginning Memorial Day weekend. From the Memorial Day weekend through the end of May, CarMax said its same-store sales -- or sales at stores open at least a year -- fell 5 percent.

Those sales continued to fall in June and July, resulting in an average drop of 17 percent for the two months, the company said Wednesday. Source: AP

EPA denies Texas governor's ethanol waiver request

The Environmental Protection Agency on Thursday denied a request from Texas Gov. Rick Perry to cut the federal ethanol mandate in half for a year.

Perry spokeswoman Allison Castle said EPA Administrator Stephen Johnson spoke to Perry about his waiver request by phone shortly before Johnson announced the agency's decision publicly Thursday.

An energy bill passed in December required 9 billion gallons of ethanol to be blended into gasoline this year and about 11 billion gallons next year. Perry asked the EPA in April to drop the Renewable Fuels Standard requirement to 4.5 billion gallons because demand for ethanol is raising corn prices for livestock producers and driving up food prices. Source: AP

Stocks fall on worries about financial sector

Wall Street tumbled Thursday as further troubles in the financial sector, higher unemployment and lackluster retail sales touched off fresh concerns about the economy. The Dow Jones industrials skidded nearly 225 points, while bond prices shot higher as investors once again sought the safety of government debt.

The stock market's pullback erased most of the 370-point gain the Dow logged the prior two sessions and shows the lack of solid conviction behind many of investors' recent bets. The Dow fell to 11,431.43.

Heading the list of worries, insurer American International Group Inc. reported a loss of more than $5 billion, while weak sales reports from Wal-Mart Stores Inc. and other retailers added to investors' unease.

Retailers report mixed sales results in July

The outlook for the back-to-school shopping season seemed grim Thursday, as retailers' July sales reports showed an increasing shift toward buying necessities like food and household supplies at discounters and away from discretionary spending on clothing.

With the benefits of the government stimulus checks fading and jobless claims at a 6-year high, the big worry is how much shoppers -- squeezed by high gas and food prices -- will retrench in the critical months ahead.

Wal-Mart Stores Inc., the world's largest retailer, and Costco Wholesale Corp. posted solid gains, while many mall-based apparel stores including Limited Brands Inc. and Gap Inc. suffered even deeper declines. Luxury stores like Saks Inc., which operates Saks Fifth Avenue, also struggled with weaker sales as even affluent shoppers pull back. Source: AP

Jobless claims hit highest point since March 2002

The nation's jobs market sent a fresh cry of distress as the number of newly laid off people unexpectedly hit the highest level in more than six years, a Labor Department report showed Thursday.

The faltering economy and tight credit have forced companies to cut back, and as the job market shrinks, consumer spending may dwindle, too. Companies are laying off workers as they struggle with slowing customer demand, harder-to-get credit and high costs for fuel and other raw materials.

New applications filed for unemployment benefits rose last week by a seasonally adjusted 7,000 to 455,000, the department said in its weekly report. That was the most since late March 2002, when the job market was struggling mightily to get back on its feet after the 2001 recession.