Citibank to eliminate 11,000 workers
In a shake up last month Citi’s executive board ousted its former CEO Vikram Pandit, paving the way for today’s announcement that the country’s second largest bank would cut 11,000…
NYC fast food workers stage walk out, fighting for rights to unionize
Dozens of fast food workers at some of the country’s largest chains, including McDonald’s, Taco Bell, and Domino’s, walked off the job today in a coordinated campaign to highlight low…
Hostess, union fail at negotiations
Hostess announced Tuesday night that it failed to reach a new agreement with BCTWGM, and union officials said the company plans to proceed with shuttering its operations after 82 years…
Mediation ordered for Hostess, union
Today in New York a judge for the Federal Bankruptcy Court all-but-ordered mediation between Hostess Brands and the Bakery, Confectionary, Tobacco Workers and Grain Millers Union (BCTGM) in an effort…
Americans return Obama to the job
The most expensive election campaign in U.S. history came to an end yesterday. According to FEC and independent estimates over $4 billion was spent in the race between President Obama…
Storm wreckage to disrupt election
Election Day is just two days away. The cost of Hurricane Sandy to the region is estimated to be around $60 billion. While the clean up crawls forward, tensions in…
Sandy douses Northeast, disrupts markets, campaigns and polling
Last year, Hurricane Irene was promoted by meteorologists and media-hype as the “storm of the century” but failed to develop the promised punch. This year, Sandy did not fail to…
Justice Department to sue BofA over alleged Countrywide mortgage fraud
The news this week for Bank of American keeps getting worse. Today the Justice Department announced it was filing a lawsuit against the bank. The suit alleges that Countrywide Financial,…
Blame it on Obama? Don’t forget Republicans to blame for this mess
Tonight is the third and final presidential debate before the election next month. The primary focus of this debate in Boca Raton, FL will be foreign policy, but most commentators…
BofA posts slight profit, but still struggles to find financial footing
The nation’s second largest bank continued its struggle to find stability in the wake of the Great Recession. Bank of America announced a slight $340 million profit in the third…