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Consumer Corner: Foreclosure settlement no magic bullet for economy
SCHAUMBURG, Ill., Oct. 30 (UPI) -- Motorola Inc. Chief Executive Officer Greg Brown said the U.S. technology giant would lay off 3,000 workers as part of a plan to save $800 million.
Most of the jobs -- about 2,000 -- would come from the company's mobile phone division, Crain's Chicago Business reported Thursday.
Motorola's mobile phone sales slid 9 percent in the third quarter, dropping the company to fourth in phone sales behind Sony Ericsson, Samsung Electronics and Nokia Oyj, Crain's reported. Just a year ago, the company was ranked second in mobile phone sales, Crain's said.
Motorola, which lost $397 million in the third quarter, also said it would postpone its planned breakup, offering no date for when the company would split into two.
The previously announced target date for spinning off the company's cellphone division from its other electronic products was October.
"While we will continue to prioritize investments on opportunities for growth, we are also improving our cost structure across the company," Brown said in a statement.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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