Business

Despite Posting Records for Earnings and Revenue, Cisco Laying Off 4,000 Workers

Despite Posting Records for Earnings and Revenue, Cisco Laying Off 4,000 Workers
Cisco's earnings and revenue grew in the latest quarter as demand for its computer networking equipment increased. But CEO John Chambers called the global economy "challenging and inconsistent" and the company said it is cutting about 4,000 jobs, or about 5 percent of its work force.
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Maybe Coors Light Doesn't Have 'The World’s Most Refreshing Can' After All

Maybe Coors Light Doesn't Have 'The World’s Most Refreshing Can' After All
Are you on your way to the liquor store to pick up a six-pack of Coors Light because you saw an ad boasting how their cans lock in "Frost Brewed Taste?" Then it might be time to reconsider your decision.
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Airline Execs Pushing Merger Caught Bragging About Profiting From Limited Competition

Airline Execs Pushing Merger Caught Bragging About Profiting From Limited Competition
Throughout the 56-page lawsuit filed Tuesday, Department of Justice lawyers quote internal emails, investor presentations and public comments by the two airlines' top executives noting how past mergers have allowed the industry to raise fares and given passengers no choice but to put up with ever-increasing fees for checking a bag or changing flights.
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AL Commerce Department Bilks Education Trust Fund for PR Website

AL Commerce Department Bilks Education Trust Fund for PR Website
A small state entity that few even know exists has become a cash cow for a Birmingham PR firm. Using funding from the Education Trust Fund, Alabama's Department of Commerce signed a no-bid contract for $99,000 to get itself a new Web site - that uses WordPress.
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'Alarming' New Study: 'Ubiquitous' Food Industry Influence on Food Safety Policy

'Alarming' New Study: 'Ubiquitous' Food Industry Influence on Food Safety Policy
In another sign of undue corporate influence, a new study has found widespread conflicts of interest by the people deciding whether food additives are determined to be "generally recognized as safe" (GRAS) over the past 15 years.
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Bank Steals All of Woman's Possessions, Won't Replace Them

Bank Steals All of Woman's Possessions, Won't Replace Them
Katie Barnett of MacArthur, Ohio, returned from her vacation to find her home broken into and all of her belongings gone. It turns out First National Bank in Wellston are the one's who broke into her house and took her belongings . . . after they foreclosed on her house instead of the house across of the street. The bank now refuses to replace what they took and the police won't press charges.
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Entergy Falsified Documents at NY Nuclear Power Plant

Entergy Falsified Documents at NY Nuclear Power Plant
An Entergy employee falsified safety documents pertaining to the Indian Point nuclear power plant in New York City. The employee faces jail time, but the company has yet to punished.
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Global Enemy #1: Tax Shelters

Global Enemy #1: Tax Shelters
As bankrupted governments are starved of revenue, global corporations and its upper echelon evade taxes at an unprecedented rate. In the UK, protesters shut down HSBC banks and set up food banks. It was a poignant representative image of after effects that come from harsh austerity measures that only benefit the 1%. Now, the G20 is agreeing to get serious about tax avoidance — but will it actually matter?
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GlaxoSmithKline Accused of Bribing Doctors to Boost Sales

GlaxoSmithKline Accused of Bribing Doctors to Boost Sales
GlaxoSmithKline has been accused of bribing doctors in China in order to boost sales. Chinese government officials say they have uncovered evidence of a bribery scheme involving 700 travel agencies who were used to funnel as much as three billion yuan ($480 million) in payments.
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CT Taxpayers Gave $51 Million to $20 Billion Company

CT Taxpayers Gave $51 Million to $20 Billion Company
Last summer, Connecticut Governor Dannel Malloy announced that Alexion Pharmaceuticals would become the fourth company to collect taxpayer subsidies (aka, Corporate Welfare) under his "First Five" economic development initiative. So what will happen to that money now that Alexion is in the process of being bought by a Swiss company?
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John Pelto
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