State Legislators Oppose Union Law
Best Buy Trimming Corporate Jobs
Best Buy Co. said Thursday that 250 workers at its corporate headquarters in suburban Minneapolis would lose their current jobs as the electronics chain pares its work force, though most might get new positions with the company.
The company hoped the displaced employees would fill 210 new jobs being posted by the retailer, for a net loss of 40 jobs.
In December, the Richfield, Minn.-based chain said it was offering voluntary severance packages to virtually all 4,000 corporate employees to help it survive what it called the "most challenging consumer environment" in its history.
State Legislators Oppose Union Law
Republican lawmakers in Florida have filed a proposed state constitutional amendment to counteract a potential pro-union federal law.
Congress is considering legislation that would allow workers to unionize by signing a card or petition instead of holding formal elections. The proposed state constitutional amendment (HJR 1013) would require secret ballot elections - favored by businesses - in Florida.
Sponsors include House Majority Leader Adam Hasner. The Delray Beach Republican said elections would prevent harassment and intimidation.
Anheuser-Busch Folding Bud.TV
After about two years, Anheuser-Busch is putting the lid on Bud.TV, an online television network of sorts that aimed for the brewer's 20-something fans with serial shows, stand-up comedy and other content.
Bud.TV cost about $15 million to start in 2007 and never secured the 3 million visitors per month it was after, said Keith Levy, vice president of marketing. The audience fell way short of that, he said, though he didn't provide numbers.
Sprint Nextel Loses More Money
Sprint Nextel Corp., the nation's third-largest wireless carrier, said Thursday it continued to lose customers and money in the fourth quarter and wrote down the remaining value of Sprint's 2005 purchase of Nextel Communications.
Even so, Sprint Nextel's condition has been so poor that investors were able to seize on news that wasn't as bad as usual. Sprint's adjusted loss beat Wall Street expectations, and the company predicted fewer customer losses in the coming year. That sent Sprint shares soaring 54 cents, or 20 percent, to end at $3.25.