About 5,100 civilian workers at Scott Air Force Base in Illinois are being forced to take-off 11 unpaid days, as are civilian employees at military installations throughout the Department of Defense. The furloughs begin July 8 and are a result of the automatic federal spending cuts known as sequestration.
Anheuser-Busch InBev has completed its $20.1 billion purchase of Mexican brewer Grupo Modelo.
The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.
A federal bankruptcy judge granted a motion Wednesday allowing St. Louis-based Patriot Coal to make major changes to retirees’ health benefits.
Patriot estimated it had more than $1.6 billion in health liabilities for some 23,000 retired miners and their families.
The company said it could not emerge from bankruptcy with those obligations and is instead offering the United Mine Workers of America a 35 percent stake in a new company, as well as a healthcare trust fund for retirees.
It’s not uncommon for companies to have a policy concerning corporate social responsibility. But, do companies have an obligation to help communities? If so, is it just certain types of businesses? Plus, how do you factor in a company’s desire to help and, at the same time, benefit the bottom line?