Posts Tagged ‘Wisconsin,United States’

Immigrants in New York City have a lower unemployment rate and participate in the labor force at a higher rate than native-born Americans, a divergence from the national trends that may reflect optimism about the recovery.The economic recession didn’t hit New York City as badly as other parts of the country. The city lost proportionally fewer payroll jobs than the nation as a whole.

A report by the Fiscal Policy Institute, a think tank, shows that in the first five months of 2010 the unemployment rate for immigrants in New York City was 8.8 percent while the rate for native-born residents was 10.9 percent. The city average was 9.9 percent.”When employers see the light at the beginning of the recovery, when they begin hiring again, the first kind of worker they seek will likely be expendable,” said Demetrios Papademetriou, president of the Migration Policy Center in Washington.

“New York has always relied on immigrants, and new immigrants, to drive its economy,” he said.Labor participation rates of U.S.-born New Yorkers declined from 59.2 percent in 2008 to 57.1 percent in 2010, while that of immigrant residents rose from 60 percent to 64.1 percent in the same period, the study said.

Labor participation is defined by those employed plus those actively looking for work.”Immigrant labor force participation in New York goes up during the recession, underscoring the notion that as the economy worsens, immigrants are more increasingly looking for work to cover their needs,” said David Dyssegaard Kallick, senior fellow at the Fiscal Policy Institute who authored the report.

Kallick measured immigrants’ employment, regardless of their legal status, using five months of data from the Bureau of Labor Statistics and the Census Bureau.Immigrants laborers are more likely to relocate in pursuit of work, and without access to unemployment insurance many more quickly accept undesirable and temporary jobs.

“We see people coming from towns in Michigan, from Wisconsin, from North Carolina,” said Cirilo Gonzalez, 50, who works on indoor construction, primarily installing drywall.Oscar Hernandez, 39, moved to the United States 12 years ago from the central Mexican state of Morelos, and said labor conditions in New York push some immigrant workers to New Jersey or Philadelphia.”Seven dollars an hour is bad but it’s better than nothing,” Hernandez said. “My family is waiting for food.”(Reuters)

the Seattle City Council unanimously voted to boycott Arizona by ending official city travel there and resolving, when practical, to cut off future contracts with Arizona-based businesses. That makes Seattle the 11th city to endorse a boycott of the state in opposition to its controversial immigration law. Five of the boycotting cities are in California: Los Angeles tops the list as the biggest, and its boycott could deliver the most painful blow to Arizona’s economy, as the city has $58 million in existing contracts with Arizona companies, according to the L.A. Times.

In pending city votes, some members of Dallas’s city council are considering a boycott, along with the municipal governments in Milwaukee, Wisconsin and Berkeley, California.Tourism officials and Arizona Gov. Jan Brewer are pleading with opponents of the law not to boycott, saying innocent people could lose their jobs. But Democratic Arizona Rep. Raul Grijalva has led the calls for boycotts of his own state, arguing that pressure needs to be put on officials to repeal the law, much as similar economic initiatives spurred the state to officially recognize the Martin Luther King Jr. holiday when it was the last state to withhold such recognition.

Legal challenges to the Arizona measure could well render the boycott campaign moot, however. Since the law, which makes it a state crime to be an illegal immigrant, is already facing five legal challenges, it may be overturned before it can go into effect July 23.Here’s a list of the cities that have announced travel and/or city-contract boycotts so far:

• Seattle, Washington• El Paso, Texas• Austin, Texas• Boston, Massachusetts• St. Paul, Minnesota • Boulder, Colorado• San Diego, California• West Hollywood, California• San Francisco, California• Los Angeles, California• Oakland, California

And here is a roster of groups that have announced travel boycotts, via Arizonaboycottclearinghouse.com

MILWAUKEE A large meteor streaked across the Midwestern sky momentarily turning night into day, rattling houses and causing trees and the ground to shake, authorities said Thursday. There were no immediate reports of injuries.Witnesses say the meteor lit up the sky Wednesday about 10:10 p.m. National Weather Service offices across the Midwest said it was visible from southwestern Wisconsin and northern Iowa to central Missouri.Radar information suggests the meteor landed in the southwest corner of Wisconsin, either Grant or Lafayette counties, said Ashley Sears, a meteorologist with the National Weather Service’s Milwaukee office. Officials in both counties said no one reported seeing a meteorite or crater.
meteor lights up
Lafayette County Sheriff Scott Pedley said his office received multiple reports of a very bright light in the sky followed by houses and the ground shaking.”There were reports of four to five minutes of explosions or rumbling,” he said. He couldn’t say what the sound was but speculated it may have been a sonic boom if the meteor broke the sound barrier.

A dashboard camera in the squad car of a Howard County sheriff’s deputy in Iowa caught a glimpse of the fireball. In the video, the object streaks toward the ground, then swells and brightens in an apparent explosion before disappearing behind a distant clump of trees.As large as the halo seems, history suggests the object might only be the size of a softball or basketball, said James Lattis, the director of the University of Wisconsin Space Place in Madison.

“These things are surprisingly small,” Lattis said. He noted meteor showers can produce streaks visible from miles away even though the objects that are burning up might be the size of a grain of sand.Lattis said because Wednesday’s meteor apparently exploded, it’s possible it will never be recovered. Unless the fragments landed on a rooftop, car, yard or other prominent place, they could be virtually indistinguishable from other rocks and pebbles on the ground.

“In that case it will just be luck if anyone happens to recognize it,” he said.Lattis said there’s even a chance the sighting wasn’t a meteor, noting an object such as a broken satellite part could create a similar effect. A message seeking comment was left with NASA.Sean Thompson was watching television in his Iowa City, Iowa, apartment when a bright light caught his eye for about 10 seconds before it disappeared.”It was somewhat alarming to me,” Thompson said. “I’ve seen shooting stars, but I’ve never seen something jetting across the sky with flames shooting off it.”

http://www.youtube.com/v/TR2uNajroOM&rel=0&fs=1

http://www.youtube.com/v/It4cBYN3eP8&rel=0&fs=1

Some initially speculated the object was part of a two-week-long meteor shower currently under way. But Lattis said it most likely wasn’t part of the Gamma Virginids shower because it came from the opposite direction.The Gamma Virginids shower began April 4 and is expected to last through April 21. Thursday is expected to be the second straight day of peak activity.Meteors are caused by bits of space debris, such as that left by a comet. Dust and debris burn up in the atmosphere and create streaks of light. Unlike other celestial sightings that require a telescope or binoculars, the best way to watch a meteor shower is with the naked eye.

Kraft Cadbury

Kraft Cadbury

LONDON The battle for British candy maker Cadbury PLC was thrown further into doubt Tuesday when a major Kraft Foods Inc. shareholder voted not to endorse the U.S. company’s hostile takeover bid, even as Kraft sweetened its offer with more cash.Billionaire Warren Buffett’s Berkshire Hathaway Inc. said it had voted against Kraft’s proposal to issue 370 million shares to finance its 10.3 billion pound ($16.5 billion) bid, saying it was worried Kraft would raise the bid even higher.Kraft earlier Tuesday increased the cash part of its offer after agreeing to sell its North American pizza business to Nestle for $3.7 billion. Nestle also said it wouldn’t be making its own offer for Cadbury, as some analyst had speculated.That leaves Kraft the sole bidder for now, though the British maker of Dairy Milk chocolate and Dentyne gum has said it has received expressions of interest from The Hershey Co. of the United States and Italy’s Ferrero International SA.

Cadbury dismissed Kraft’s plan to use the money raised from selling brands such as Tombstone and Jack’s to increase the proportion of cash in its offer as “tinkering.”Shares in the British maker of Dairy Milk chocolate and Dentyne gum were down 3.7 percent at 775 pence, after briefly diving to 764.4 pence following Berkshire Hathaway’s announcement.Berkshire Hathaway, which holds 9.4 percent of Kraft’s stock, said that the share issue would give Kraft “a blank check allowing it to change its offer to Cadbury in any way it wishes.””And we worry very much that, indeed, there will be an additional change from the revision announced this morning,” it added. “To state the matter simply, a shareholder voting “yes” today is authorizing a huge transaction without knowing its cost or the means of payment.”

Kraft, based in Northfield, Illinois, could not immediately be reached for comment on Berkshire Hathaway’s move.Kraft, whose brands include Philadelphia cream cheese and Oreo cookies, earlier said its change to offer reflected calls by some Cadbury shareholders to have more of the offer in cash and “to be more sparing in its use of undervalued Kraft Foods shares as currency for the offer.””Kraft Foods continues to believe that its share price is depressed as a consequence of a number of short term factors which it believes will dissipate once the uncertainty surrounding its offer for Cadbury is resolved,” the company said in a statement.

Kraft said Tuesday it will use an amount equivalent to the net proceeds from the pizza sale, which it estimates to be 60 pence per Cadbury share, to fund a partial cash alternative to its offer.It also extended the deadline for shareholders to accept its bid until Feb. 2 – the last day in the 60-day timetable set by the U.K. Takeover Panel.It has until Jan. 19 to revise its offer further.Berkshire said it will vote to issue shares only if it does not think the final offer hurts value for Kraft shareholders.

Cadbury’s share price is still well above the original 742 pence value of Kraft’s offer – 300 pence in cash and 0.2589 Kraft shares for each Cadbury share – reflecting the odds that changing the cash component is unlikely to be enough to win over shareholders who are seeking a higher overall price.Cadbury, which recently outlined its credentials as a stand-alone company by raising its long-term performance targets and producing better-than-expected profit margins, said the offer continued to undervalue the British company.

“Kraft has once again missed the point,” it said. “Despite this tinkering, the Kraft offer remains unchanged and derisory with less than half the consideration in cash.”Cadbury is due to provide a trading update, including the key Christmas season, next week.Nestle’s earlier decision to rule itself out of the bidding settled rumors that the Swiss maker of Nescafe coffee and KitKat chocolate was gathering a war chest for a rival bid after it agreed to sell off its 52 percent stake in eyecare company Alcon for $28 billion and announced it would spend less cash on share buybacks.

Some analysts still believe that another suitor may emerge.”We think that Hershey is keen to make a deal with Cadbury,” analysts at Numis stockbrokers wrote in a research note. “In reality Nestle is acting as a fund provider to the Cadbury deal and we would not be surprised to see the Swiss group play that role again by buying assets from Hershey, the Kit Kat brand in the U.S. being an obvious candidate.”

Nestle, meanwhile, is gaining a pizza business that includes the Tombstone and Jack’s brands in the U.S., the Delissio brand in Canada and the California Pizza Kitchen trademark license. It also includes two Wisconsin manufacturing facilities in Medford and Little Chute, Wisconsin.Nestle said the acquisition will add a “new strategic pillar” to its frozen food portfolio in the U.S. and Canada, making it a significant player in the $37 billion a year pizza market. Nestle is already represented in the U.S. with brands such as Stouffer’s, Lean Cuisine, Buitoni, Hot Pockets and Lean Pockets.Shares in the Swiss company rose 1.5 percent to 50.95 Swiss francs.About 3,400 employees are expected to transfer to Nestle.(AP)