Archive for November 17th, 2008

Citigroup said Monday it planned to cut more than 50,000 jobs, the latest move by the struggling bank to cut costs in order to weather the credit crisis plaguing Wall Street

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Billionaire entrepreneur Mark Cuban, owner of the National Basketball Association's Dallas Mavericks, was charged Monday by the Securities and Exchange Commission with insider trading.

The strongest indictment of Yahoo management yet might be how much Madison Avenue still loves Yahoo inventory.

About 76 percent of consumers watch video on their PC, says a new international study from IBM.

In the worst labor market in 14 years, Americans from auto workers to financial analysts are considering a career change in hopes of landing a job. Many job seekers are getting specialized training as a way to break into a new industry. Vocational, technical and trade schools, which provide a formal education in skilled trades from catering to computer programming, are seeing a surge in enrollments this year. To make themselves more marketable, 26% of workers plan to go back to school to obtain a degree, certification or other training, according to Career Builder's Industry Trends Survey in September. "It's a great time to do it, the national unemployment rate is 6.5%, but the unemployment rate for skilled workers is only 3.1%," said Doug Arms, chief talent officer Ajilon Global, professional staffing firm. "There's much higher demand for skilled workers in this type of economy." Increased enrollment at technical and vocational schools is not uncommon in an economic downturn, according to Arms. "Not only in this cycle but in past cycles our enrollments throughout our campuses are very tightly correlated with the unemployment rate," said Eugene Putnam, CFO of the Universal Technical Institute.

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Despite higher air fares and an economic crisis that is forcing many Americans to stay home for the holidays, air travel is expected to be more crowded and hectic than usual this Thanksgiving, experts say.

Target Corp. reported a nearly 24% decline in third-quarter net income Monday as the weak economy continues to weigh on consumer spending.