Category Archives: Closing

Boeing to close Kansas defense plant by end of 2013

By doris | Published: January 8, 2012

Full Story at msnbc.com WICHITA, Kan. — The Boeing Co., for decades the brand that helped support Wichita’s claim as the aviation capital of the world, announced Wednesday it will shut down facilities in the city by the end of 2013 and send work to plants in three other states as it deals with defense [...]

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Sears releases partial list of store closings

By doris | Published: December 30, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Sears Holdings has released a partial list of the Sears and Kmart stores set to close as a result of the company’s poor sales this holiday season. Sears (SHLD, Fortune 500) said earlier this week that it planned to close between 100 and 120 stores at an [...]

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Postal Service delays closings until May 15

By doris | Published: December 13, 2011

Full Story at money.cnn.com WASHINGTON (CNNMoney) — The U.S. Postal Service has agreed to hold off on closing any more post offices or mail facilities until May 15, 2012, to allow Congress time to work on a plan to save the service. The U.S. Postal Service agreed to voluntarily enact a moratorium on closures, after [...]

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Arkansas city loses two factories in one day

By doris | Published: October 30, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The city of Fort Smith, Ark., got hit with a double whammy on Friday, as one factory closed down and another faced imminent demise. Whirlpool Corp. (WHR, Fortune 500) said it will shut down its factory next year, putting about 1,000 people will be out of work, [...]

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Bank of America to resume some foreclosures

By doris | Published: October 19, 2010

Full Story at msnbc.msn.com WASHINGTON — The pace of U.S. home foreclosures may not slow much after all. Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week. It said it has a legal right to foreclose despite accusations that documents used in the process [...]

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New Orleans takes another hit: 5,000 jobs to go

By doris | Published: July 19, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — First it was Hurricane Katrina, then it was the BP oil spill. Now the Louisiana coastal region faces a third economic crisis: Northrop Grumman Corp. will close the shipyard in Avondale, eliminating 5,000 jobs. Northrop Grumman (NOC, Fortune 500) said late Tuesday that it will “wind down” [...]

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Selling frenzy as homebuyer credit nears end

By doris | Published: April 30, 2010

Full Story at msnbc.com Real estate agents are working seven days a week, builders are staying open late and homebuyers are scrambling to get their offers in as they rush to take advantage of tax credits that expire at midnight Friday. To qualify, buyers must have a signed contract in hand by the deadline and [...]

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Cablevision drops Food, HGTV networks

By doris | Published: January 3, 2010

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — Cablevision Systems, a New York-area cable provider, said Friday it was no longer carrying The Food Channel and HGTV, two channels operated by Scripps Networks Interactive, in a dispute over distribution rights fees. “We are sorry that Scripps’ current financial difficulties are making it impossible for them to [...]

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Five more banks fail – 120 for the year

By doris | Published: November 7, 2009

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — Five banks failed late Friday, bringing the 2009 tally to 120. The biggest to fall was United Commercial Bank of San Francisco, which had 63 U.S. branches as well as operations in Hong Kong and Shanghai. The bank held deposits totaling $7.5 billion. East West Bank of Pasadena, [...]

Also posted in America, Banking, Economy, FDIC, Jobs, Money | 1 Comment

Dell to lay off 905 in plant closure

By doris | Published: October 8, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Computer maker Dell announced on Wednesday that it will close a plant in Winston-Salem, N.C., and will cut 905 jobs as a result. Dell said that 600 plant workers will be laid off in November, and the remaining 305 employees will be cut by January 2010, when [...]

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Bank failure toll reaches 94

By doris | Published: September 20, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Regulators closed subsidiaries of Irwin Financial Corporation in Kentucky and Indiana Friday, bringing the total number of bank failures this year to 94, according to the Federal Deposit Insurance Corp. Customers of the bank, however, are protected. The FDIC, which has insured bank deposits since the Great [...]

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Five more banks fail — 89 so far in 2009

By doris | Published: September 5, 2009

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — Five small regional banks were closed by regulators on Friday evening, pushing 2009′s tally so far to 89 institutions. Of the five failures, two were in Illinois, and there was one each in Arizona, Iowa and Missouri. Customers of the banks, however, are protected. The Federal Deposit Insurance [...]

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Keep your cash safe

By doris | Published: August 15, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — As yet another bank faces collapse, consumers are worried about their cash. So far this year, 72 banks have failed, according to the Federal Deposit Insurance Corporation. Struggling southern regional bank Colonial Bank could be the 73rd. But individuals with deposits at Colonial, or any other troubled [...]

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Post office mulls closing hundreds of offices

By doris | Published: August 4, 2009

Full Story at msnbc.com WASHINGTON – A pillar of U.S. communities since the nation’s founding, the post office is facing the prospect of closings or consolidation of services at hundreds of locations amid a sharp decline in business due to e-mail. The Postal Service may register a loss of nearly $7 billion this fiscal year [...]

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