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Intro to Business News is South-Western's service to provide summaries of the latest Business news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| ECONOMIC CHALLENGES IN BUSINESS | |
| Title | Brief Summary |
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With gas prices down and confidence in the economy up, it looks like shoppers will be out in force—which should, in turn, boost the economy. (Updated December 2006) |
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A survey of Missourians conducted in late March revealed that shoppers paid $3 more for selected food items in the first quarter of 2006 than in the same quarter a year ago. The informal tally conducted by the Missouri Farm Bureau was part of a quarterly food-prices survey designed to track inflation. (Updated September 2006) |
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A California jury decided in December that Wal-Mart must pay $172 million to over 100,000 employees as a penalty for routinely denying meal breaks to workers. The verdict came amidst the retailer's ongoing campaign to counter critics who seek to hamper its expansion and force it to raise worker salaries and benefits. (Updated January 2006) |
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Buffeted by a $3 billion loss within a nine-month period, and with little hope for a future turnaround, General Motors announced recently that it would slash the healthcare benefits of retirees to the tune of $15 billion. The agreement made with the United Auto Workers union is an historic concession from labor that GM is in steep financial trouble and can no longer afford to lavish its famed perks on employees. (Updated November 2005) |
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Merck is facing new financial woes over its withdrawn painkiller Vioxx. The drug's link to heart attacks and strokes has spawned thousands of lawsuits, and analysts say a recent $253 million jury verdict against the drug manufacturer may open the door to billions more in legal liabilities. (Updated October 2005) |
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With interest rates at 40-year lows and unemployment at a stable bottom, the housing market continues to soar. The market is so hot, however, that some economists fear the bubble may soon burst. But such fears haven't stopped New York developers from snapping up land with abandon. (Updated September 2005) |
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With crude-oil futures soaring as high as $60 a barrel, some analysts worry that a global economic slow-down looms ahead. As evidence that high oil prices are already beginning to hurt businesses, the parent company of United Airlines cited oil as the main reason for its $93 million loss in May 2005. (Updated August 2005) |
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This article looks at the SBA's attempt to assist small business after the Sept 11 terrorist attacks in the United States and the reasons why these loans have not often lead to long term viability for the small business. (Updated November 2003) |
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The budget deficit for 2003 is expected to exceed $450 billion, 50% larger than previously estimated. Reasons for the large revenue shortfall include the recent economic downturn, the cost of the military operations in Afghanistan and Iraq and the administration's tax cuts. This article raises the question of whether or not the rising budget deficit should be a cause for concern. (Updated November 2003) |
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