Business News

Sears One Foot in the Grave?

Sears bid to sell their Canadian operations for $750 million has failed and that is bad news for the declining icon.  The funds for the sale was hoped to be a near-term cash infusion for the company.  The corporate parent of Sears and Kmart was forced last week to take out a $400 million loan as it prepares for the crucial holiday shopping season. (New York Post)

More than 20% of Americans laid off in the past five years are still unemployed, and one in four who found work is in a temporary job. Despite the sharp drop in long-term unemployment recently, many people out of work at least six months are struggling to recoup their former wages and lifestyles. Those idled for years face an even tougher road back to employment. (USA Today)

United Airlines says it will offer flight attendants up to $100,000 in severance if they leave the company.

The lump-sum payments will be offered in order of seniority to some of United's 23,000 flight attendants. United says the early-outs will help it match staffing to its flight schedule and produce a labor contract with the union. (Associated Press)

Anheuser-Busch InBev, the world's largest beer maker by volume, is reported to be preparing to buy SABMiller.  A merger between the two would create one company that controls nearly a third of the world's beer supply. Bud Light is the largest seller of beer in the world producing some 5.28 billion liters.  (Washington Post)

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