Saturday, December 13, 2008

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Union members reject Maersk's cost-cutting request

Called to an emergency meeting this week, nearly 500 members from all three local maritime unions rejected a proposal to let their biggest customer, Maersk Line, switch to State Ports Authority workers, labor officials said Friday. When asked Thursday night who among them would consent to such a move, not a single person rose, said Ken Riley, president of International Longshoremen's Association Local 1422. "No one was standing," he said.

Wabco puts halt to plans for major plant expansion

A North Charleston maker of automotive parts has put a planned expansion on hold while its primary customer has trimmed 90 local jobs amid waning demand for trucks. Until recently, Wabco Compressor Manufacturing, which makes air compressors for truck engines in North Charleston, was drafting plans to expand its operations. It recently filed for a permit from the state to build a 104,230-square-foot addition at its plant off Leeds Avenue.

Stocks rebound as auto aid emerges

NEW YORK â€" Wall Street showed more signs of stability Friday, rebounding from a sell-off to end higher after the government said it would assist troubled U.S. automakers.

Journal gets nod from critics

NEW YORK â€" When Rupert Murdoch took control of The Wall Street Journal a year ago today, the austere, 119-year-old newspaper joined a media empire that includes Fox News Channel and a British tabloid best known for Page Three photographs of topless women. The sale's fiercest critics warned of a downward spiral for the Journal, noting that Murdoch has sometimes used his media properties to push his views. After his company, News Corp., bought the New York Post in 1976, for instance, the liberal tabloid quickly turned into a conservative mouthpiece with feisty headlines.

Spending slips for 5th month in a row

WASHINGTON â€" Consumers cut back on spending at retail stores for a record fifth straight month in November, another sign that the recession will translate into a dismal holiday shopping season.










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