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Nissan forcing employees to take unpaid furlough

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In an effort to cut costs, Nissan North America is requiring employees to take a two-day unpaid furlough and cutting employee travel in half.

The company is closing its offices and factories on Jan. 2 and 3, 2020, but not its dealerships, forcing about 21,000 salaried and contract workers to take two days off without pay. The furlough will result in a 9.2 percent cut in January paychecks, reports Fortune Magazine.

The move will “optimize business performance and competitiveness,” the company said in an email statement.

Nissan recently released its quarterly report, showing no break in a year-long slump in sales of both its Nissan and Infiniti brand automobiles. So far in 2019, sales are off by 12.6 percent from last year, and its profits from July through September are about half of what it earned during the same period last year.

Sales of the company’s struggling premium line, Infiniti, has dropped by nearly 19 percent

In January, Nissan said it would cut about 700 jobs at its Canton, Miss., plant as part of an overall layoff of 12,500 jobs worldwide.

Carmakers will be eliminating some 80,000 jobs in the coming years, according to Bloomberg News, with cuts mostly in Germany, the U.S. and the United Kingdom. Just this past week, Daimler AG and Audi announced combined layoffs of some 19,500 workers, joining Nissan, General Motors and the Ford Motor Company in reassessing their workforces as worldwide sales continue to decline and automobile technologies change.

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Krystal files for bankruptcy

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Popular fast-food chain Krystal, known for serving burgers on steamed, square buns, has filed for chapter 11 bankruptcy protection.

The chain opened its first store in Chattanooga, Tenn., in 1932, and now operates about 300 stores across the South, employing about 7,500 people.

“The actions we are taking are intended to enable Krystal to establish a stronger business for the future and to achieve a restructuring in a fast and efficient manner,” the company said in a statement.

Krystal Company says its restaurants will stay open during the bankruptcy process.

The filing cites shifting consumer tastes and a tight labor market among the reasons for filing bankruptcy. Fast-food restaurants have an unusually high turnover rate of up to 200 percent, and Krystal’s statement says the labor market makes it difficult to staff its restaurants.

The company has debts of between $50 million and $100 million, according to the filing.

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Entergy certifies three CERES sites as project ready

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CERES B site (photo from the Vicksburg Warren Economic Development Partnership)

From the Vicksburg Warren Economic Development Partnership and Entergy Mississippi:

The Vicksburg Warren Economic Development Partnership announced today that Entergy Mississippi has authorized certification of three sites at the CERES Industrial Park as Economic Development Project Ready Sites.

The certification is the culmination of months of work done by the Vicksburg Warren Economic Development Partnership in coordination with Entergy Mississippi. The work included a comprehensive review, due diligence and documentation generation for the three sites, in order to make them ready for prospective manufacturing or industrial projects.

Site location consultants and prospective companies require immediate response times and communities must be able to respond effectively and efficiently on very short notice. Entergy Mississippi works with communities to help them identify the due diligence and analysis needed to make sure their sites are ready for a project. Once the community has done what is required by the program, Entergy authorizes the Certification of the sites and provides resources to promote the certified sites and market them to national and international brokerage firms and site consultants.

“This is a very positive development for CERES and for our efforts to attract more companies to Vicksburg and Warren County, said Pablo Diaz, President & CEO of the Vicksburg Warren Economic Development Partnership, in a statement. “The certification process allowed us to document the strengths and weaknesses of our sites and to reduce the level of risk and due diligence that a potential company would need to undertake in order to decide to locate in our community. We are most thankful to Entergy Mississippi for working closely with us to accomplish this certification, and we look forward to partnering with them to market the sites and CERES in general to companies across the nation and the world.”

“As decision timelines for companies grow shorter, Vicksburg Warren County understands having sites ready for development is a necessity to remain competitive, said Ed Gardner, Executive Director of Entergy Economic Development. “Entergy is proud to add three sites in CERES to the growing list of certified sites in our service territory. I commend the Economic Development Partnership for making significant investments to meet the requirements of our program.”

Vicksburg Mayor George Flaggs added, “Entergy is a key partner in our economic development efforts and this certification is another example of their commitment to help communities in their service territory be prepared for success. We have had tremendous economic development success in the past few years, and Entergy has continuously been a close ally in that success”

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Girl Scouts introducing new cookie for 2020

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Good news cookie lovers. The Girl Scouts of the USA are introducing a brand new cookie this year.

The new cookie, called Lemon Ups, are crispy, lemon cookies baked with eight different motivational messages such as “I am a leader” and “I am a go getter” designed to lift your spirits. The new flavor is being offered in a limited number of markets.

But never fear. If lemon cookies are your thing, also check out Lemonades, a lemon-icing-topped shortbread variety.

“Everyone loves Girl Scout Cookies—but the program is about so much more than cookies,” said GSUSA CEO Sylvia Acevedo in a press release. “Girls learn about entrepreneurship as they run their own cookie businesses. The important business and financial literacy skills girls learn through the program are proven to build their leadership skills and position them for success in the future. When you purchase cookies you are helping girls power their Girl Scout experience and you’re supporting female entrepreneurs.”

Of course, don’t forget the perennial favorites such as Thin Mints, Samoas and S’mores. This year also features a refreshed package design.

Girl Scout Cookies can only be purchased from a registered Girl Scout. To find Girl Scouts selling cookies near you, visit www.girlscoutcookies.org. While you’re there, check out all the sinfully delicious cookie flavors available.

 

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