Following in the footsteps of many other companies across the nation, ABC News plans to cut back the number of employees they currently have. Everyone who works at ABC News was notified Tuesday that they should expect major change within the company.

ABC News said that they plan to “leave no part of the organization untouched.” By the end of this year, all employees will be affected by the layoffs.

ABC News president David Westin did not mention exactly how many employees he plans to lay off, but the whisper around the company is that they will lay off at least a quarter of the company. This is about 1,400 employees.

ABC News plans to start asking for voluntary buyouts in the next few days. Following this, if their goal number has not been reached, they will lay off more people.

They plan to rely more heavily on digital journalists while employing fewer people. Digital journalists are those who can write and film stories. ABC also said they are going to rely on "a more flexible blend of staff and freelancers."

ABC News has been working on hammering out the details of this plan for three or four months. Westin said that there were three key influences in making this decision.

The first is the economic downturn in advertising. Advertising is the driving force behind the news because it is what funds their operations.

Without these funds, they do not have enough money to pay the entire staff. As a result, some of the staff has to be cut.

Second, ABC News has also begun to realize that the form of news must evolve with the change into the digital age. Part of their restructuring plan will rely less on traditional news and more on digital based news.

Third, they also realized that with the switch to a more digital news base, they will need fewer people to do more. Technology allows a lot more to be done with fewer people.

Westin is confident these changes will not affect the quality of the news and that the changes will be hard for many. He said, "I would not be pursuing this if I thought we would be compromising the news...I'm very mindful of the men and women who will be leaving us, voluntarily or otherwise, particularly in this job market.”

As unemployment continues to increase, many people are left wondering how they are going to make it through the next month. There are several ways to get a little extra money. If you have any scrap gold, silver, or platinum Check City will buy it from you. The process is fast, easy, and can give you the cash you need for today. Check City also offers Title Loans that allow you to keep driving your car while taking a loan out on it. This money has been a lifesaver to many people. Find out how you can get cash today by visiting Check City’s website for more information.

To read more about ABC News’ layoffs visit:

http://www.cbc.ca/arts/media/story/2010/02/24/abc-news-cuts.html


WalMart’s fourth quarter sales unexpectedly showed declines higher than analysts expected. As the world’s largest retailer, WalMart analysts expected a decline in sales of no more than one percent.

In an effort to try and make up for these losses, WalMart instituted lower laptop, turkey, and cranberry sauce prices throughout the holiday season. They also tried to cut the prices of groceries and electronics.

These extra sales were tailored to attract the part of the American population that is living from ‘paycheck to paycheck.’ However, the statistics that came in showed that the sales by stores that have been open for over a year in the United States had declined over 1.6%.

The deflation of prices hurt WalMart’s sales revenue. WalMart commented that they had been working on completing remodeling of some of the stores which also contributed to the decline in customer visits.

While there appear to be challenges for WalMart in the near future, their hopes are still high for the long term. Chief Executive Officer Mike Duke said “U.S. sales will be “more challenging” in the first quarter and should improve as the year progresses.”

In New York Stock Exchange composite trading WalMart dropped 86 cents to $53.20 this morning continuing the trend from 2009 where WalMart stock fell by 4.7%. 

If you are one of the customers that are living from paycheck to paycheck, there is a quick and easy way you can earn a little extra money. Check City will buy any scrap gold, silver, platinum, or diamonds you may have to help you get through. Scrap gold refers to the gold that can be found in jewelry such as earrings, necklaces, and watches. The jewelry does not have to be in perfect condition. It can be broken, bent, twisted, or in many small pieces and we will still accept it.

If you are uncertain about whether or not your jewelry contains these ingredients, visit one of our convenient locations to have it weighed and tested. Then, we will make you an offer for your precious metal. If you accept, you will be able to return home with the much needed extra cash.


As a move to solidify lower United State fuel costs, Yara International ASA consented to purchase Terra Industries Inc. for $4.1 billion today. Yara International ASA is one of the largest fertilizer producers in the world.

The purchase will be made through the payment of $41.10 per Terra share and raising the cash with $2.5 billion rights offer. On February 12, 2010 Terra had closed with a $33.24 price in New York.

Yara International ASA’s offer shows an increase of 24% in that price. As a result, Yara International ASA fell by the largest percentage that is has in eight months in Oslo.

In Sioux City, Iowa, where Terra Industries is based, Terra committed to giving Yara the six North American plants that are primarily used for producing nitrogen-based fertilizer. As the recession has continued and there has been a heightened supply of shale, the price of the nitrogen has fallen be over 64%.

Many financers agree with Yara’s move to gain control of more United State gas, but they believe that Yara paid too much for it. Research showed that Yara is paying almost 13 times Terra’s net income.

Joergen Ole Haslestad, Yara’s Chief Executive Officer, said “Yara is committed to the U.S. market, and this transaction presents an attractive opportunity for both companies to strengthen their positions in the U.S. … Both companies are strong in ammonia and nitrates, and have complementary geographical footprints.”

Haslestad believes that this buyout will become profitable almost instantaneously due to Yara Industrial Inc.’s share of the world’s ammonia market of 8%. In Oslo trading Yara fell to 225.7 kroner, but this loss was expected.

Henrik Sinding, an analyst at Carnegie ASA in Oslo, said the purchase of Terra Industries “will require a relatively big rights issue, so it’s fair that the shares should fall… Given that the price is OK and the rationale behind it makes sense, we don’t expect to make any changes to our recommendation on the back of this.”

After this transaction Yara will benefit from a pretax cost savings of $60 million within one year of the completion of the contract which will take place in June. The rights offer may be completed as early as May.

Yara International Inc. does not expect outstanding merging costs because Terra Industrial is well kept and uses modern technology. Employees will be laid off, but they have not stated how many yet.

Terra Industrial ASA provides fertilizer to over 120 companies. Fertilizer is necessary for the success and optimal performance of a spring garden. The time to plant a spring garden is here, however purchasing the supplies to begin a garden to support your family can be slightly too much of an expense to fit in a monthly budget. A garden can save hundreds of dollars in groceries at a later date. Obtain a little extra money to make a spring garden by selling unused gold, platinum and silver to Check City. To find out more about the selling and buying process visit Check City’s website.

To read more about Yara International’s purchase of Terra Industrial visit:
http://www.bloomberg.com/apps/news?pid=20601103&sid=aRsfbjzRGKjY

 


Gold investors will be glad to hear that spot gold price has risen to about $1,130 today. The only thing stopping gold from reaching a peak of $1,145/troy ounce, was the strength of the dollar last Friday. Today in London, gold has been selling at $1,135.75/ounce, which is an increase of $7.75 since Friday.

The SPDR Gold Trust, one of the largest gold exchange-traded funds, reports that they have little more than 20 tons following the report of 1,112.84 tons on January 15. Experts believe that the decline is due to investors changing from gold exchange-traded funds (ETFs) to platinum and palladium. Looking over the last two weeks, platinum and palladium have consistently been worth more than gold. Platinum and palladium spot prices have remained the same over the weekend with platinum selling for $1608.50/ounce and palladium at $451.50/ounce.

Gold and platinum are at an excellent exchange rate right now. Make the most of this high exchange rate by visiting Check City’s website at checkcity.com to find out more about their gold and platinum buying services and where the closest Check City store is to you. All of Check City’s stores are open anywhere for extended hours with a few open 24/7.

Or if you are too busy to make the visit in person to one of the stores, visit their gold service site to order an envelope to send your jewelry to Check City to be professionally weighed and tested. Check City will mail a check back to you! The envelope that you will receive will be pre-paid and insured up to $100, so there will be no need to worry about shipping costs or your jewelry becoming lost in the mail.

 With Check City’s prices defined by the NYMEX gold value, our prices are four times the value that online buyers will offer. With the gold and platinum prices skyrocketing, this is truly a golden opportunity.


Sell Your Scrap Gold

September 14, 2009 by Joe Finance

If you are looking to rid yourself of some old jewelry or other items made of scrap gold, silver, or platinum- you can bring them to Check City and receive cash.

Check City offers cash for scrap gold and other precious metals. They accept just about anything that contains 10K, 14K, 18K, 22K or 24K gold. This would include any bracelets, necklaces, dental gold, coins, chains, watches, and more.

If you aren’t using it any longer why not cash your gold in for money?

Get to a Check City location today to sell your scrap gold.


Sell Scrap Gold

August 24, 2009 by Johnny Loans
Getting money for unwanted scrap gold is a quick and easy process at Check City. Simply come in to one of Check City's 15 locations with your scrap gold. The metal will be weighed on a jewelers scale and tested for the metal content. Then, Check City offers cash on the spot for the scrap gold. The best part is you don’t have to wait to get paid or go cash a check!

Check City is looking for gold that is 10K, 14K, 18K, 22K or 24K gold. In addition to gold, Check City accepts platinum and silver. You can bring in almost any of your jewelry including rings, bracelets, charms, necklaces, pendants, earrings, etc.

Don't miss out on the chance to get cash on the spot for your unwanted jewelry. Sell your scrap gold at any Check City location today.