BRIEFCASE.Byline: - Staff and Wire Services 10,000 jobs to be cut by Sony Corp. TOKYO - Sony Corp. said today it will cut 10,000 jobs globally, slash the number of factories and cut costs by 200 billion yen, or $1.8 billion, in a bid to revive its electronics business. The Japanese company said it expected a group net loss of 10 billion yen ($90 million) in current fiscal year as plunging prices of consumer electronics products have taken a hefty toll on earnings. The job cuts would result in a reduction of 4,000 workers in Japan and 6,000 outside the country, while factories would be cut from the present 65 to 54, company officials said. Kerkorian's group to buy more of GM BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. - Tracinda Corp., the private-equity firm owned by billionaire investor Kirk Kerkorian Kerkor "Kirk" Kerkorian (Armenian: Քըրք Քըրքորյան) (born June 6, 1917) is an American billionaire, and president/CEO of Tracinda Corporation, his private holding , announced plans on Wednesday to boost its stake in General Motors Corp. to as much as 9.9 percent and might approach the world's biggest automaker about getting representation on its board. The Beverly Hills-based investment group has been steadily growing its stake in GM while continuing to downplay suggestions that it is looking to increase its influence over the company. Kerkorian, formerly the owner of moviemaker mov·ie·mak·er n. One that makes movies, especially professionally. mov  ie·mak MGM Mirage MGM Mirage (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. The company began operations on May 31, 2000 after the completion of a merger of MGM Grand Inc. and Mirage Resorts, Inc. , has a history of wrestling with
automakers in his long-running fight against the merger between Chrysler
Corp. and Daimler-Benz AG.
On Wednesday, Kerkorian's group said it plans to increase its 9.5 percent stake in GM to no more than 9.9 percent. The group also said in a securities filing that it ``may engage in discussions with General Motors concerning possible representation on its board of directors.'' Daschle director of Ellis Group Inc. Los Angeles-based CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group Inc. announced Wednesday that Tom Daschle, former U.S. senator from South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). , has joined the board of directors of the commercial real estate services firm. Daschle served in Congress for more than 25 years. In 1978, he was elected to the House of Representatives, where he served four terms. He first won his Senate seat in 1986 and was re-elected in 1992 and 1998. He now works in a Washington, D.C., law office, where he advises clients on public-policy issues with a special emphasis on financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care, energy, telecommunications, taxes, trade and international matters. Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. to settle pay case SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden - Bank of America Corp. has agreed to settle a lawsuit by loan department employees in California who say the company failed to pay them overtime. The class-action lawsuit, filed Sept. 16 in U.S. District Court in San Francisco, said the bank owed overtime pay to account executives, trainees and other workers selling home mortgages and handling personal loans. Under the settlement, Bank of America will pay $6.68 million to the workers and up to $2.25 million to the workers' attorneys, company spokeswoman Shirley Norton said Wednesday. |
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