Business

/

ArcaMax

Yuri Gripas/Abaca Press/TNS

Feds to provide $36 billion to ensure Teamsters pensions through 2051

Business / Business News /

The federal government will allocate $36 billion to shore up the Central States Pension Fund, a cash-strapped retirement fund that primarily benefits members of the Teamsters union, President Joe Biden announced Thursday.

Around 350,000 union workers and retirees are expected to be impacted by the funding nationwide. Around 40,300 Michigan ...Read more

Antonio Perez/Chicago Tribune/TNS

Chicago attracting a healthy amount of investment, but all neighborhoods aren't equal

Business / Business News /

Chicago attracted a lot of investment over the past decade, but how well its economy serves residents depends a lot on where they live. Between 2010 and 2020, neighborhoods where most residents are Black received a fraction of the overall investment recorded in mostly white neighborhoods, according to a new study from the Urban Institute.

The ...Read more

Michael M. Santiago/Getty Images North America/TNS

New York Times' journalists stage historic strike as labor tensions mount across media

Business / Business News /

NEW YORK — Taking a defiant stand, hundreds of New York Times journalists refused to work Thursday — the largest journalist-led labor action at the nation’s leading newspaper in more than 40 years.

The New York Times Guild’s 24-hour strike highlighted the mounting frustration of writers, editors, online producers, security guards and ...Read more

Alejandro A. Alvarez/The Philadelphia Inquirer/TNS

Vanguard quits clean energy group after 13 states complain

Business / Business News /

One week after 13 Republican state attorneys general asked federal energy officials to consider blocking Vanguard Group from buying utility stocks because of its relationships with anti-coal and anti-natural gas activists, the Malvern, Pennsylvania-based investment giant has pulled out of an international group committed to reducing net ...Read more

Dreamstime/Dreamstime/TNS

Tesla says its self-driving technology may be a 'failure' -- but not fraud

Business / Business News /

Tesla's Full Self-Driving technology may be a failure, Tesla lawyers admit — but it's not a fraud.

The electric car company is facing a class-action lawsuit from Autopilot and Full Self-Driving (FSD) technology customers. They claim they were ripped off, duped by statements from co-founder and CEO Elon Musk and marketing materials from Tesla ...Read more

Jose A Iglesias/Miami Herald/TNS

Indignant at hotel operator, unit owners at North Beach's Carillon sued. They just got $16M

Business / Business News /

MIAMI BEACH, Florida — When a wealthy asset manager plucked the iconic Carillon complex out of bankruptcy in 2015 and soon after sent acclaimed spa operator Canyon Ranch packing, unit owners at the North Beach luxury resort/condo were aghast. They said it was the start of a slow erosion of amenities that they treasured — and paid dearly for ...Read more

Joe Burbank/Orlando Sentinel/TNS

Mobile home owners struggle to find insurance in Florida's 'dysfunctional' market

Business / Business News /

ORMOND BEACH, Florida — The problems at Peggy Childress’ mobile home started in May when a tree from the vacant lot next door crashed through their carport, the first damage she or her husband, Mike, could recall in 15 years of living there.

Having the tree removed cost $600, all the money they had in savings. “It wiped us out,” said ...Read more

Mel Melcon/Los Angeles Times/TNS

Michael Hiltzik: Which last longer, ebooks or physical books? The answer may surprise you

Business / Business News /

The internet engineer and entrepreneur Brewster Kahle took a shot at the book publishing industry a few weeks ago by pointing out something well-known to technologists but unappreciated by the general public: that ebooks and other digital artifacts have shorter lifespans than the physical items.

"Our paper books have lasted hundreds of years on...Read more

Jon Rehg/Dreamstime/TNS

The Federal Reserve is deflating financial bubbles, without a crash

Business / Business News /

The Federal Reserve hasn’t had much success so far in wrestling down sky-high inflation, but its monetary tightening campaign is having a major impact in deflating asset bubbles that swelled during the pandemic.

—The cryptocurrency market — once valued at $3 trillion — has shrunk by more than two-thirds

—Investor-favored technology ...Read more

Alex Wong/HODELETE60/TNS

Emboldened House Republicans to bring ESG scrutiny, experts say

Business / Business News /

WASHINGTON — Now that they’ve gained control of the House in the next Congress, Republican lawmakers will launch a slew of congressional inquiries into environmental, social and governance issues, according to legal and financial experts.

The foremost targets will be financial institutions and companies promoting ESG, as well as the ...Read more

Nikolai Sorokin/Dreamstime/TNS

Employers use patient assistance programs to offset their own costs

Business / Business News /

Anna Sutton was shocked when she received a letter from her husband’s job-based health plan stating that Humira, an expensive drug used to treat her daughter’s juvenile arthritis, was now on a long list of medications considered “nonessential benefits.”

The July 2021 letter said the family could either participate in a new effort ...Read more

Courtesy Port of San Francisco/TNS/TNS

A massive, floating swimming pool on San Francisco Bay? Here's where a developer wants to build it

Business / Business News /

Ever wished you could swim on the bay without actually immersing yourself in the frigid, murky water?

A new proposal would turn an old pier on the San Francisco waterfront into the Bay Area’s first public floating pool, where guests could swim laps, play water polo or lounge in a hot tub while soaking up a view of the Bay Bridge. The plan ...Read more

Natrice Miller/Atlanta Journal-Constitution/TNS

'I need to eat': Venezuelan migrants take first steps in Georgia labor market

Business / Business News /

By the time he crossed the U.S.-Mexico border and arrived to Atlanta in late August, Klinsman Torres had exhausted his savings. The Venezuelan migrant’s most immediate priority was to find work.

“Nothing is below me,” he said. “Work is work.”

In the past, Torres had worked in kitchens and on construction sites. He cleaned bathrooms. ...Read more

Real estate Q&A: How can I avoid problems if my sister buys me out of property we co-own?

Business / Business News /

Q: I own a vacation home with my sister we inherited years ago. Recently she approached me about buying out my half of the house. We get along well, and I rarely use the property, while she practically lives there, so this seems fair. But I do not want to cause any problems because of the transfer. How can we protect against this turning out bad...Read more

General Motors/TNS/TNS

GM installs first EV chargers for dealer partnership program

Business / Business News /

General Motors Co. is starting to install the first community charging stations as part of its Dealer Community Charging Program, with the first ones going up in Michigan and Wisconsin.

Nearly 1,000 GM dealers have enrolled in the program since it was announced in late 2021. The program was first available to Chevrolet dealers and will expand ...Read more

Adobe/Dreamstime/TNS

PDF to cloud to homegrown tech titan: Adobe celebrates 40th anniversary

Business / Business News /

SAN JOSE, California — Adobe has reached its 40th anniversary, an event that marks a four-decade journey during which the company created tech products that have become vital tools for consumers and professionals alike.

John Warnock and Charles Geschke, two tech entrepreneurs who had just left legendary Xerox PARC, launched Adobe in December ...Read more

Kate Ruder/KHN/TNS

Rural Colorado tries to fill health worker gaps with apprenticeships

Business / Business News /

GRAND JUNCTION, Colorado — During her 12-hour overnight shift, Brianna Shelton helps residents at BeeHive Homes Assisted Living go to the bathroom. Many of them have dementia, and some can’t get out of bed on their own. Only a few can remember her name, but that doesn’t matter to her.

“They’re somebody’s mom, somebody’s grandma, ...Read more

Mike Siegel/Seattle Times/TNS

Boeing lost hundreds of experienced Seattle-area engineers last month

Business / Business News /

Last month, hundreds of very experienced Seattle-area Boeing engineers walked out the door. They chose to retire early with the realization they'd have a significant cut to their pension payouts if they delayed.

Though this quirk in traditional pension plans is not unique to Boeing, the outcome is a local brain drain that will accentuate a ...Read more

Alejandro A. Alvarez/The Philadelphia Inquirer/TNS

Joseph N. DiStefano: 13 pro-fossil fuel states seek to block Vanguard utility buys, cite ties to green 'activism'

Business / Business News /

Vanguard Group, the investment giant whose offices in Malvern, Pennsylvania, have been targeted by environmentalists demanding it pressure companies to stop burning carbon fuels, now faces backlash from states who say its efforts to address climate change threaten investment profits for pension funds and other clients.

Attorneys general for ...Read more

Rob Nikolewski/The San Diego Union-Tribune/TNS

Bringing batteries back to life: Research groups get federal funding for recycling projects

Business / Business News /

If the clean energy transition is going to happen, a massive amount of batteries will be needed.

Many will be manufactured, but just as many will be recycled to power the increasing number of electric vehicles and storage facilities needed to make the switch to sustainable energy.

The U.S. Department of Energy recently distributed $74 million ...Read more