BRIEFCASE.Byline: -- Staff and Wire Services Technicolor cuts jobs in Camarillo CAMARILLO -- Technicolor Home Entertainment has laid off 179 employees and cut an additional 108 vacant positions, the company confirmed Monday. The cuts were made late last week and were contained to a Camarillo DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. manufacturing facility near the headquarters of parent company Thomson. Facilities in Burbank, Glendale and North Hollywood were not affected. ``This action was taken to achieve ongoing cost savings, to address continuing pricing pressures associated with the home entertainment sector, to generate operating efficiencies which will enhance Technicolor's short- and long-term capabilities, and to strengthen the overall business,'' spokesman Keith Pillow said in a written statement. Fifty-three shift workers were offered jobs elsewhere in the company. Pillow said no additional cuts were planned at any Technicolor facilities in the immediate future, but did not rule them out based on future cost evaluations. New Indiana plant for Nestle items Nestle Corp. will build a $359 million beverage plant in Indiana that will make and distribute its Nesquick and Coffee-Mate products, officials said Monday. Rob Case, president of Nestle USA's Glendale-based beverage division, said the location and transportation system influenced the decision. The factory will employ about 300 workers 35 miles north of Indianapolis. Also considered was a site in Lima, Ohio Lima (IPA pronunciation: [laɪmə]) is a city in the U.S. state of Ohio and the county seat of Allen CountyGR6. . While best known for its namesake name·sake n. One that is named after another. [From the phrase for the name's sake.] namesake Noun chocolates, the Swiss company Nestle SA is the world's largest food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. company. Construction is expected to begin later this year. Drivers could see drop in premiums Some motorists could see drops in their auto insurance premiums, thanks to a decision announced Monday by the Auto Club of Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, to base policy costs on driving records instead of ZIP codes zip code System of postal-zone codes (zip stands for “zone improvement plan”) introduced in the U.S. in 1963 to improve mail delivery and exploit electronic reading and sorting capabilities. . State Insurance Commissioner John Garamendi John Raymond Garamendi (born January 24, 1945) is a U.S. politician and a member of the Democratic Party. He became the 46th Lieutenant Governor of California on January 8 2007. hailed the move as a step toward finally implementing the rate rollbacks California voters demanded when they approved Proposition 103 in 1988. The proposition called for insurance rates to be based on drivers' safety records, not on their ZIP code. The Auto Club is the state's fourth-largest auto-insurance provider, and Garamendi said he hopes the move will prompt the Auto Club's competitors to follow suit. An industry spokeswoman said other major companies were still evaluating their positions. Cnet Networks admits distortion distortion, in electronics, undesired change in an electric signal waveform as it passes from the input to the output of some system or device. In an audio system, distortion results in poor reproduction of recorded or transmitted sound. 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 -- Cnet Networks Inc. on Monday acknowledged that its manipulation of employee stock options distorted its accounting for years, providing another example of how the mishandling of the popular awards can haunt haunt v. haunt·ed, haunt·ing, haunts v.tr. 1. To inhabit, visit, or appear to in the form of a ghost or other supernatural being. 2. companies. The online publisher of technology news and reviews told investors to disregard all financial statements issued since the beginning of 2003 and warned that the results of earlier years also might have to be revised. Without providing specifics, Cnet said it will have to take significant charges to correct accounting errors that occurred because the timing of stock options given its employees wasn't properly recorded. Short-term rates mixed for T-bills WASHINGTON -- Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills declining while rates on six-month bills rose. The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.925 percent, down from 4.955 percent last week. An additional $14 billion in six-month bills was auctioned at a discount rate of 5.105 percent, up from 5.090 percent last week. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or , was unchanged last week at 5.27 percent, the same as the previous week. |
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