Archive for May, 2007
May 31, 2007 at 6:40 pm · Filed under macroeconomy
(05-31) 15:13 PDT Santa Cruz, Calif. (AP) —
Hewlett-Packard Co. announced Thursday the sale of hundreds of acres of redwoods, which have served as a getaway for the computer giant’s employees, to two nonprofits that plan to turn the property into a state park.
Little Basin, a 534-acre property in the Santa Cruz Mountains, has hosted HP picnics, camping trips and Easter egg hunts. Bought in 1963 by company founders Bill Hewlett and David Packard, the getaway helped boost employee morale.
It was sold for $4 million to the Sempervirens Fund, based in Mountain View, and the Peninsula Open Space Trust, based in Palo Alto. The nonprofit land trusts plan to work with the Schwarzenegger administration to eventually open the property to the public.
“It has the nicest facilities you’ll ever see at a campground,” said Brian Steen, executive director of Sempervirens Fund. “This is better than most state parks campgrounds.”
Company officials said they decided to sell the property, appraised at $13 million, because the company’s employees are now living all over the world.
“It’s not a cost issue. Basically we had a minority of employees who were getting a benefit that wasn’t consistent across the company,” said Steve Brashear, HP’s vice president for real estate and workplace services.
HP employees will still be able to use the site, but many had mixed emotions about the sale.
“For people in this area, for people who knew Dave and Bill, they kind of see the place as a gift from Dave and Bill Д because it was,” said Gary Ruppel, 66, of Palo Alto. “Any change is difficult.”
___
Information from: San Jose Mercury News,
http://www.sjmercury.com
May 31, 2007 at 6:40 pm · Filed under macroeconomy
WASHINGTONEmployers stepped up hiring last month, boosting payrolls by a brisk 167,000 and keeping the unemployment rate steady at a still historically low 4.5 percent. Workers’ wages grew briskly.
The latest snapshot of the nation’s employment climate, released Friday by the , showed that the jobs market ended 2006 on a strong note and provided fresh evidence that the troubled housing and automotive sectors aren’t dragging down employment across the country.
http://www.foxnews.com/business/economy/index.html
The tally of new jobs added to the economy last month exceeded analysts’ forecasts for a gain of around 115,000 and was the best showing since September. Analysts were predicting the politically sensitive would remain unchanged from November, which it did.
For all of 2006, the nation’s unemployment rate dropped to a six-year low of 4.6 percent. In 2005, the unemployment rate averaged 5.1 percent.
With the economy losing momentum, though, many economists predict the jobless rate will climb this year and average around 4.9 percent.
Employers showed not only a greater appetite to hire in December but also more willingness to boost compensation to workers.
Workers, many of whom had seen their paychecks eaten by inflation, saw wages grow robustly last month. Average hourly earnings jumped to $17.04, a sizable 0.5 percent rise from the prior month. Analysts were forecasting a more modest, 0.3 percent increase.
Over the last 12 months, wages grew by a strong 4.2 percent. That matched the annual gain registered in November and was exceeded only by a 4.3 percent annual increase in November 2000.
Growth in wages should support consumer spending Д a force that helps drive the economy. But a rapid and sustained advance Д if not blunted by other economic forces Д can stoke concerns about inflation.
Federal Reserve Chairman says the central bank will be on close watch for any signs that wage growth might be spurring an unwanted pickup in inflation.
, which has boosted rates 17 times since June 2004 to fend off inflation, has been on the sidelines since August. Analysts believe the Fed will keep its finger on the interest-rate pause button when it meets next on Jan. 30-31.
The latest employment snapshot comes as the new Democratic-controlled Congress, which convened Thursday, will now play a lead role in shaping policies for workers and businesses.
A top priority for Democrats is boosting the federal minimum wage from $5.15 an hour to $7.25 an hour. President Bush said he supports such a move as long as it is paired with business-friendly provisions, which would soften the sting to employers who would have to dole out more in labor costs.
http://www.foxnews.com/business/economy/index.html
May 31, 2007 at 6:40 pm · Filed under macroeconomy
A CONTROVERSIAL drinks company is to help create new football pitches for young people in a Scottish town.
Buckfast, whose tonic wine is often blamed for binge drinking and antisocial behaviour, says it will provide an all-weather football field, five-a-side pitch and changing rooms for the 400 members of Carbrain Boys Club in Cumbernauld.
They used to play on fields at Cumbernauld College but lost them when Tesco moved in four years ago. Now Buckfast, which is made in Devon by monks, is coming to the rescue.
It hopes to get other companies involved and stressed yesterday it was not doing it for the glory.
The pitches could cost up to 200,000 and it is hoped they will open in 18 months.
Related topic
- http://news.scotsman.com/topics.cfm?tid=585
http://news.scotsman.com/topics.cfm?tid=585
·
Next entries »
