New Fair Pay Act Signed into Law

President Barack and Michelle Obama shed the spotlight on a new bill called the Fair Pay Act that is intended to ensure that fair pair is given to workers for performing a job. All too often women are paid less than their male counterparts to their detriment. If a woman (sometimes the situation is reversed and it is a man) is working as an engineer, she might receive less pay for the SAME work. This bill was crafted to ensure that if she (or he) does the same work as a man (or woman) then they should be paid the same/equal pay. For more details on this story, please visit the Christian Science Monitor.

Yours in equal rights for all,

Joseph R. Mays

Starbucks to Cut 6,000 Jobs and Close Stores as their Earnings Drop 69%

As if we needed to hear more economic bad news, Starbucks joins other companies with sagging and or negative growth. This has resulted in a move to eliminate 6,000 jobs (layoffs) and close 300 more stores. They join Circuit City and National Wholesale Liquidators. These retailers are shutting down all their stores. Office Depot announced back in December that it was closing 10% of it’s stores. The story link here is from USA Today.

For more information on this story please visit MarketWatch.com.

Yours in economic news,

Joseph R. Mays

US Postal Service Proposes a Five-Day Delivery Week Due to Budget Shortfall

The United States Postal Service is running a proposal for approval past Congress for eliminating one delivery day to help stave off the costs of operating under the current economic conditions. The post office says it losing money by operating on these slow delivery days.
For more on this story visit the LA Times.

Yours in economic news that affects you,

Joseph R. Mays