Business | Journal Gazette

Best-paid CEOs list released

The Associated Press — Wed, 22 May 2013 12:18:52 EST

It pays to be in TV. On the list of 10-best paid CEOs of 2012 - the exclusive club inside an already-exclusive club - half are in the entertainment and media industry, according to executive pay research firm Equilar. The median pay for all CEOs in 2012 was $9.7 million.

Dimon keeps two-faceted job

CHRISTINA REXRODE — Wed, 22 May 2013 03:00:00 EST

Jamie Dimon, the CEO and chairman of JPMorgan Chase, easily survived a vote Tuesday that would have called on him to give up his role as chairman of the nation's largest bank. But shareholders sent a message that the bank needed better oversight, giving only narrow approval to three of the bank's board members.

Microsoft calls Xbox One an all-in-one console

Associated Press — Wed, 22 May 2013 03:00:00 EST

Microsoft on Tuesday unveiled the Xbox One, an entertainment console meant to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price.

Apple CEO: We pay taxes

MARCY GORDON and PETER SVENSSON — Wed, 22 May 2013 03:00:00 EST

The Senate dragged Apple Inc., the world's most valuable company, into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid billions in U.S. taxes.

GM boosts investment in Lansing

Staff, news services — Wed, 22 May 2013 03:00:00 EST

General Motors says it will invest $44.5 million at a Lansing, Mich., factory, creating 200 new jobs.

World stocks mixed ahead of Fed chief testimony

PAMELA SAMPSON — Wed, 22 May 2013 06:51:04 EST

BANGKOK (AP) World stock markets were mixed Wednesday, hours before Federal Reserve chairman Ben Bernanke is to deliver remarks before Congress on the state of the U.S. economy.

JPMorgan shareholders rally behind Dimon

Dawn Kopecki — Tue, 21 May 2013 14:22:09 EST

JPMorgan Chase Chief Executive Officer Jamie Dimon Tuesday won shareholder support to remain chairman, surviving a campaign to split the roles after a record trading loss at the biggest U.S. bank.

Microsoft reveals Xbox One, next-generation gaming

Derrik J. Lang — Tue, 21 May 2013 13:48:13 EST

Microsoft revealed the Xbox One, its next-generation entertainment console, during a presentation Tuesday at its headquarters in Redmond, Wash.

Billion-dollar dropout

MEGHAN BARR — Tue, 21 May 2013 03:00:00 EST

As a teenager, Tumblr CEO David Karp would canvass the streets of New York City's Upper West Side, offering to build websites for local businesses. After his freshman year of high school, the precocious, computer-savvy kid decided to drop out altogether to devote more time to his passion for technology.

2.4 percent growth to US economy predicted

Associated Press — Tue, 21 May 2013 03:00:00 EST

Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.

Aid offered to injured Joslyn staff

Staff, news services — Tue, 21 May 2013 03:00:00 EST

The U.S. Department of Labor is notifying a new class of employees of the former Joslyn Manufacturing and Supply Co. in Fort Wayne about possible reimbursement, a release stated Monday.

Markets choppy ahead of Bernanke testimony

PAN PYLAS — Tue, 21 May 2013 07:08:23 EST

LONDON (AP) Markets were fairly choppy Tuesday as investors were reluctant to push stock indexes up further ahead of a much-anticipated statement from U.S. Federal Reserve chairman Ben Bernanke.

Grain futures mixed, livestock prices rise

Associated Press — Tue, 21 May 2013 07:06:02 EST

CHICAGO (AP) Grains futures were mixed Monday on the Chicago Board of Trade.

Oil price falls toward $96 per barrel

PAMELA SAMPSON — Tue, 21 May 2013 07:03:16 EST

BANGKOK (AP) The price of oil retreated toward $96 per barrel Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy.

Dimon in the rough at JPMorgan

CHRISTINA REXRODE — Tue, 21 May 2013 03:00:00 EST

Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs.

Jamie Dimon under pressure ahead of JPMorgan vote

Christina Rexrode — Mon, 20 May 2013 15:42:10 EST

NEW YORK - Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs.

Help wanted, but maybe not

Paul Wyche — Mon, 20 May 2013 03:00:00 EST

A company makes an announcement promising hundreds of positions. Job seekers, however, shouldn't hold their breaths. The wheels of economic development can move slowly at times with hiring taking place over several years.

Smoked fish in demand

CLARKE CANFIELD — Mon, 20 May 2013 03:00:00 EST

Americans are eating a lot more smoked seafood than they used to.

Falling yen aids consumers

Associated Press — Mon, 20 May 2013 03:00:00 EST

Attention, bargain-hunters around the world: Japanese goods - from cars to televisions - are going on sale.

Alibaba preps to set IPO price

Lee Spears and Lulu Yilun Chen — Mon, 20 May 2013 03:00:00 EST

Alibaba Group Holding doesn't want to be the next Facebook - at least for its prospective initial public offering. The world's biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.

Labor participation may stay low

Aki Ito — Mon, 20 May 2013 03:00:00 EST

Workers who have dropped out of the labor force may take a few years to begin searching for work, Federal Reserve economists say in a paper offering insights into the health of a labor market that's key to central bank policy.

Automaker-supplier relations hit plateau

Mark Clothier — Mon, 20 May 2013 03:00:00 EST

Improvements in automaker-supplier relations are stalling, with the difference between the top- and bottom-ranked companies narrowing, according to a survey of auto-parts makers in North America.

Mexico's housing boom is bust

Jonathan Levin — Mon, 20 May 2013 03:00:00 EST

Arturo Sandoval, 25, a homeowner in one of Mexico's low-income developments outside the capital, commutes two hours each way to his job at a Mexico City soap factory.

Cuts in aid a regional drag

Jeanna Smialek — Mon, 20 May 2013 03:00:00 EST

Dentral Smith had to say no when her granddaughter asked for a treat on the way home from school. The government's cut in unemployment payments leaves her with less spending money.

Microsoft on mobile grows in South Africa

Christopher Spillane — Mon, 20 May 2013 03:00:00 EST

Microsoft, trying to find growth markets for its mobile products, is projecting that rising demand in South Africa will help it pass BlackBerry and Android and pave the way for further gains on the continent.

Vets start working on railroads

JOSH FUNK — Mon, 20 May 2013 03:00:00 EST

Mark Major once led a team of soldiers in combat in Iraq. Now he leads a team of railroad employees. The difference, he says, is obvious: "I'm not getting shot at anymore."

Germany prospering, but unions suffering

Jana Randow — Mon, 20 May 2013 03:00:00 EST

Germany's top trade unionist, Michael Sommer, looked out on a May Day crowd of workers and told them that a proposed labor flexibility plan wouldn't create a single job. Ten years later, the plan is law. Joblessness is close to a two-decade low and employment has increased by more than 3 million.

Apple devices OK for military

News services — Mon, 20 May 2013 03:00:00 EST

The Pentagon said it has cleared Apple devices for use on its networks, setting the stage for the maker of iPhones and iPads to compete with Samsung Electronics and BlackBerry for sales to the military.

Markets solid despite Fed policy speculation

PAN PYLAS — Mon, 20 May 2013 07:04:29 EST

LONDON (AP) Stock markets remained relatively solid Monday as evidence of a steady economic recovery in the U.S. continued to shore up sentiment.

Oil price falls below $96 a barrel

PAMELA SAMPSON — Mon, 20 May 2013 07:02:10 EST

BANGKOK (AP) The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief.

Attracting eateries

Sherry Slater — Sun, 19 May 2013 03:00:00 EST

If you want fries with that, you have several downtown dining options. But fast food - which is sold on dozens of street corners around town - isn't enough to draw people to the city's core.

GE badge could be put on ice

Tim Catts — Sun, 19 May 2013 03:00:00 EST

General Electric Chief Executive Officer Jeffrey Immelt tried to sell off the company's appliance and lighting businesses in 2008, only to have the effort derailed by the financial crisis.

Lehman estate demands millions from nonprofits

Martin Z. Braun — Sun, 19 May 2013 03:00:00 EST

Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy and set off the global financial crisis, managers of the bank's estate are demanding millions of dollars from retirement homes, colleges and hospitals.

Sharp names new CEO after record losses

ELAINE KURTENBACH — Sun, 19 May 2013 03:00:00 EST

Japanese electronics maker Sharp Corp. named a new president, shuffling its top management to help restore profitability after reporting a record loss.

China faces unrest over slow economy

JOE McDONALD — Sun, 19 May 2013 03:00:00 EST

Global economic malaise has knocked the stuffing out of Luo Yan's business making toy animals.

Gaming wins boosting AMD

Matt Robinson — Sun, 19 May 2013 03:00:00 EST

Advanced Micro Devices Inc. is beating Intel Corp. in the bond market as it wins slots for its semiconductors in game consoles, ceding the shrinking market for personal computers to its larger rival.

Business people

THE JOURNAL GAZETTE — Sun, 19 May 2013 03:00:00 EST

Sweetwater has hired Brahyam Martinez, Ryan Limbeck, Jimmy Hart, Chris Rice, Matt Alexander and Patrick Cobley as sales engineers; Brett Moore as a sales assistant; Breanna Jacquay, accounting specialist; Zoe Eastwood, administrative assistant; Jennifer Hughes, maintenance team; Brittany Schumm and Stacie Rennecker as receptionists; and

Business at a glance

THE JOURNAL GAZETTE — Sun, 19 May 2013 03:00:00 EST

The Made Here campaign, an initiative of the Northeast Indiana Regional Partnership, has launched an online shop. Visitors can access the shop by going to www.yourstorymadehere.com/shop.

Submissions

Sun, 19 May 2013 03:00:00 EST

Send items to Business News, The Journal Gazette, 600 W. Main St., Fort Wayne, IN 46802. Information may also be faxed to 461-8893 or emailed to lisagreen@jg.net. If you are emailing information for Business People and would like to include a photo, the photo must be sent as a JPEG image attached to the email.

Area's jobs outlook better

Paul Wyche — Sat, 18 May 2013 03:00:00 EST

State unemployment dipped in April - and metro Fort Wayne did its part. The region had fewer people without work and the jobless rate retreated to 7.6 percent from 8.8 percent in March, according to preliminary figures the Indiana Department of Workforce Development released Friday.

GM shares crack 2-year high

TOM KRISHER — Sat, 18 May 2013 03:00:00 EST

Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years.

Poll: Recovery to reach '15

David J. Lynch — Sat, 18 May 2013 03:00:00 EST

The U.S. economy will continue to recover until at least 2015 without tumbling into a recession, achieving the sustained growth that has eluded it since the last slump ended four years ago, according to a Bloomberg poll.

Penney's board unchanged despite losses

Matt Townsend — Sat, 18 May 2013 03:00:00 EST

Ron Johnson's job at J.C. Penney Co. ended after his attempt to overhaul the retailer wiped out a quarter of its sales and about half of its market value. The board members who hired him are staying.

Economic gauge sees expansion

News services — Sat, 18 May 2013 03:00:00 EST

A measure of the U.S. economy's future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market.

GM stock above $33 for 1st time in 2 years

Tom Krisher — Fri, 17 May 2013 13:41:30 EST

DETROIT – Shares of General Motors reached an important milestone on Friday, topping their initial public offering price of $33 for the first time in more than two years.

Fort Wayne-area jobless rate drops in April

Paul Wyche — Fri, 17 May 2013 10:52:19 EST

The three-county metropolitan area saw the percentage of people without work retreat to 7.6 percent from 8.8 percent in March, according to preliminary figures released Friday from the Indiana Department of Workforce Development.

Column: Soybeans shoot higher

Walt Breitinger — Fri, 17 May 2013 13:13:42 EST

Although US farmers are expecting to harvest a large soybean crop this fall, the current supply of soybeans in storage is running low, lifting prices higher. This week, July soybeans shot up 45 cents (+ 3.2 percent), reaching $14.47 per bushel on Friday morning.

American to reward light fliers

DAVID KOENIG — Fri, 17 May 2013 03:00:00 EST

If you're traveling light, you can board earlier on American Airlines.

Housing starts fall 16.5% in April

MARTIN CRUTSINGER — Fri, 17 May 2013 03:00:00 EST

U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to month.

Only 2 small SUVs do well in crash tests

TOM KRISHER — Fri, 17 May 2013 03:00:00 EST

Only two of 13 small SUVs performed well in front-end crash tests done by an insurance industry group, with several popular models faring poorly in the evaluations.

1,800 new hires tallied in area poll

Staff, news services — Fri, 17 May 2013 03:00:00 EST

Eighty-eight percent of companies surveyed in a four-county northeast Indiana area reported hiring in the last six months, accounting for 1,800 new hires, economic development officials said Thursday.

High-tech visa issue pits firms vs. unions

ANNE FLAHERTY — Fri, 17 May 2013 03:00:00 EST

To the U.S. technology industry, there's a dramatic shortfall in the number of Americans skilled in computer programming and engineering that is hampering business.