The U.S. Senate passed a $17.6 billion jobs bill Wednesday that will provide tax breaks to private companies and funding for highway and transit projects. The bill heads to the desk of President Barack Obama, who has previously said he will sign the bill into law. The Senate passed the bill in a 68-29 bipartisan vote, the Associated [...]
Continue reading...Friday, January 29, 2010
Today before an audience of workers at a Baltimore machine plant President Obama proposed $33 billion in tax credits to encourage small businesses to hire additional employees. The proposal calls for a $5,000 tax credit for every net new worker hired in 2010. The amount would be capped at $500,000 per firm to ensure that [...]
Continue reading...Sunday, August 2, 2009
The US Census Bureau has announced it met its goal of creating 2,200 new, temporary jobs across the US by July 1st. The $120 million for the new jobs was provided by the Obama administration’s American Recovery and Reinvestment Act, part of $1 billion to fund the 2010 census. The positions will end in the Summer [...]
Continue reading...Friday, July 17, 2009
Ed Montgomery, the Obama administration’s Director of Recovery for Auto Communities and Workers, aka “Car Czar,” has announced the commitment of $25 million in stimulus funds for the retraining of laid off auto workers. The cash be awarded to training programs that can help auto workers transition to industries that are seeking new employees, such as [...]
Continue reading...Tuesday, June 9, 2009
President Barack Obama’s administration will accelerate the implementation of its $787 billion economic stimulus plan, to create more than 600,000 jobs in the next 100 days. The nation’s unemployment rate hit 9.4% last week, the highest in 25 years. Cabinet members have set key targets for the next 100 days: Expanded service for 300,000 patients at 1,100 health [...]
Continue reading...Sunday, May 17, 2009
Bankrupt Big Three automaker Chrysler will shut down 789 dealerships, about one-fourth of its sales locations. In December, then-President George W. Bush announced a $13.4 billion rescue loan for American automakers, including Chrysler. In March, President Barack Obama announced he would provide an additional $6 billion in further support to Chrysler, contingent on the company finalizing [...]
Continue reading...Wednesday, May 13, 2009
Rock Island, Illinois-based Hartmarx, the largest US menswear company, may go out of business if it can’t strike a deal with Wells Fargo Bank. Thirty-five hundred people would be put out of work. The firm filed for bankruptcy protection in January. It cannot stay in business unless Wells Fargo extends the company more credit. Hartmarx owes [...]
Continue reading...Monday, April 27, 2009
General Motors will cease all production on Pontiacs, and cut 21,000 hourly jobs by the end of 2010. Salaried workers will also be cut, but no numbers have been released. Also, GM will eliminate 500 dealers. The automaker must restructure by June 1st, under a deal with the Obama administration, which is giving GM another $11.6 billion [...]
Continue reading...Monday, April 20, 2009
Barack Obama’s Department of Commerce has presented Arkansas with $5.25 million for job creation and flood recovery. The grants include $2 million to University of Arkansas at Fort Smith, to build a Regional Entrepreneurial and Innovation Resource Center. Another $1.75 million for Arkansas State University will build a Commercial Innovation Center. Conway County will get $1.5 million [...]
Continue reading...Monday, April 6, 2009
Student loan company Sallie Mae, aka SLM Corporation, will move its overseas operations back to the United States, creating 2,000 domestic jobs. SLM plans to add staff over the next 18 months in call centers, information technology and operations support across the US. The company will pull jobs from India, Mexico and the Philippines. The Obama administration [...]
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Wednesday, March 17, 2010
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