A judge ordered one of Chicago’s most politically powerful labor unions to suspend picketing against 16 funeral homes last week after receiving reports that striking Teamsters had, among other things, disturbed a child’s funeral.
Building Your Audience
Living in New York is comparable to living at a circus. Everywhere you look, performers are giving it their best shot in hopes their show is worthy of the coins jingling in your pocket. But then again, isn’t that what all of our businesses are like? We’re doing the best we know how in hopes of attracting partners and customers who happen to see us. …read more
Source: FULL ARTICLE at Forbes Latest
Trendy New Cuts Of Beef: Chefs Love Them For Grilling And Much More
Cattle were domesticated more than 10,000 years ago, and humans have been enjoying red meat ever since. You would think after all those years of grilling, braising, boiling, curing, smoking roasting and sautéing, it would be hard to find a new way cut up a steer – but people keep trying. …read more
Source: FULL ARTICLE at Forbes Latest
Airborne campaign preparing to probe pollution-climate link
(Phys.org) —The floor of a NASA hangar and an adjacent laboratory in Southern California’s high desert have been in constant motion this month as scientists prepare their instruments for installation on two of the agency’s specialized science aircraft that will begin a major NASA airborne science campaign in early August. …read more
Source: FULL ARTICLE at Phys.org
Image: Two moons passing in the night
(Phys.org) —The Saturn moons Mimas and Pandora remind us of how different they are when they appear together, as in this image taken by NASA’s Cassini spacecraft. Pandora’s small size means that it lacks sufficient gravity to pull itself into a round shape like its larger sibling, Mimas. Researchers believe that the elongated shape of Pandora (50 miles, or 81 kilometers across) may hold clues to how it and other moons near Saturn’s rings formed. …read more
Source: FULL ARTICLE at Phys.org
J.C. Penney: CIT Cash Advances Still Flowing to Suppliers
Filed under: Company News, JC Penney, Retail, Consumer Goods, Investing
PLANO, Texas — J.C. Penney says that CIT, the largest lender in the clothing industry, is still supporting deliveries from its suppliers. The department store operator also says it has ample liquidity to run its business.
Shares rose more than 7 percent in premarket trading Thursday.
On Wednesday, a New York Post report said that CIT Group Inc. (CIT) had stopped providing financial support to small and large suppliers selling to J.C. Penney stores — for now. The report said CIT made the decision after meeting with J.C. Penney officials to examine the company’s books.
J.C. Penney Co. (JCP) said Thursday that CIT assured it that the newspaper report is untrue.
CIT is what the industry calls a “factor,” which makes cash advances to suppliers based on the goods they sell to the merchant. If vendors and factors become wary of a store’s creditworthiness, the retailer may have to pay suppliers cash upfront for goods, which could be a huge drain on liquidity. If suppliers stop shipping goods, it can be a death knell for a retailer.
Plano, Texas-based J.C. Penney said that merchandise from CIT-supported suppliers currently makes up less than 4 percent of its overall inventory for the year.
J.C. Penney said that it still has the support of all of its key vendors, which are continuing shipments to the company. The retailer, which has 1,100 stores, anticipates closing the second quarter with about $1.5 billion in cash on its balance sheet.
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Shares climbed $1.09, or 7.5 percent, to $15.69 in premarket trading about two hours before the market open Thursday.
J.C. Penney is trying to reverse its fortunes after disastrous results under a failed transformation plan implemented by its former CEO Ron Johnson. Johnson was ousted in April after 17 months on the job. The board brought back former CEO Mike Ullman, who has reintroduced frequent sales and is bringing back key merchandise under store names like St. John’s Bay.
Analyst Deborah Weinswig of Citi Investment Research says J.C. Penney won’t see a recovery in its business until 2014. The analyst said in a client note that she’s been surprised that “quick fixes,” like bringing back coupons, hasn’t led to stronger sales and doesn’t think this will change in the near term. The analyst lowered the chain’s rating to “Sell” from “Neutral” and cut its price target to $11 from $20.
J.C. Penney doesn’t comment on analyst reports.
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Source: FULL ARTICLE at DailyFinance
Philippines, Vietnam discuss how they can cooperate amid territorial feud with China
The Philippines’ top diplomat said he and his Vietnamese counterpart discussed Thursday how their governments can work together to deal with territorial disputes with China, including a possible sharing of information to better guard their territories from intrusions. …read more
Source: FULL ARTICLE at Fox World News
Under leaden skies: Where heavy metal clouds the stars
(Phys.org) —In a paper shortly to be published in the Oxford University Press journal Monthly Notices of the Royal Astronomical Society, a team of astronomers from the Armagh Observatory in Northern Ireland report the discovery of two unusual stars with extremely high concentrations of lead in their atmospheres. …read more
Source: FULL ARTICLE at Phys.org
Jay Cutler won’t run read-option, Chicago Bears say
By NFL.com The Chicago Bears have shown some signs of read-option with quarterback Jay Cutler, but claim they have zero plans to do so during the season. Unless, of course, they change their minds. …read more
Source: FULL ARTICLE at NFL
'Life is tough, but I'm tougher': Cleveland kidnapping victim thanks police for help in note
One of the victims of convicted Cleveland kidnapper and rapist Ariel Castro has written police a letter thanking them for their help collecting cards and gifts. …read more
Source: FULL ARTICLE at Fox US News
Transportation funding bill faces GOP opposition
A measure awarding generous funding to road and bridge projects, community development grants and housing help for the poor is running into stiff Republican opposition in the Senate.
White House: Assad's Instagram 'Despicable'
By Ruth Brown
Ever abreast of the big issues facing a war-torn country like Syria, the US State Department has delivered a stern rebuke against President Bashar al-Assad’s Instagram account , labeling it “nothing more than a despicable PR stunt,” ABC News reports. In a press briefing, a department spokesperson told reporters: “It’s repulsive… …read more
Source: FULL ARTICLE at Newser – Home
NSA director heckled at hacker conference
The head of the U.S. National Security Agency defended the government’s much-criticized surveillance program against hecklers among a crowd of computer systems analysts Wednesday, but also had a challenge for them: If you don’t like it, lend your talent to build a better one.
Sri Lanka sets first postwar provincial elections in war-torn northern province for Sept. 21
Sri Lankan officials have set the first postwar provincial elections in the country’s war-torn northern province for Sept. 21, more than four years after the end of the island nation’s quarter century civil war. …read more
Source: FULL ARTICLE at Fox World News
Researchers develop nanodiamond thermometer to take temperature of individual cells
(Phys.org) —Researchers working at a lab at Harvard University have developed a technique that allows for taking the temperature of individual living cells. In their paper published in the journal Nature, the team describes their technique and just how precise temperature measurements taken with it can be. …read more
Source: FULL ARTICLE at Phys.org
Climate change threatens hotspots of genetic diversity
(Phys.org) —Past climates shaped the current hotspots of genetic diversity for the grey long-eared bat, one of the UK’s rarest mammals, but future climate change threatens these biodiversity hotspots, according to researchers from the University of Bristol, working in collaboration with scientists from the University of Sheffield and from across Europe. …read more
Source: FULL ARTICLE at Phys.org
Gene determines acceptance, rejection of stem cells from others of the same marine species
(Phys.org) —To live together harmoniously in our bodies, cells need to be able to distinguish which of those among them are sanctioned residents and which are interlopers. This way, native cells can be left alone to do their jobs, and foreign cells can be attacked and removed. …read more
Source: FULL ARTICLE at Phys.org
Kidney Disease Test Now Recommended For Everyone Over 60
By Melanie Haiken, Contributor
Every American 60 and older should be screened yearly for kidney disease, the National Kidney Foundation (NFK) announced this morning. This means more than 50 million Americans should ask their doctors about the urine test, which checks for albumin, or protein, in the urine. The reason: Six out of every 10 Americans will develop kidney disease in their lifetimes, new research shows. …read more
Source: FULL ARTICLE at Forbes Latest
Illinois man reportedly crushed to death by trash compactor while searching for cellphone
A suburban Chicago man was reportedly crushed to death by a trash compactor while he searched for his missing cellphone, authorities said. …read more
Source: FULL ARTICLE at Fox US News
$24K GPU Matches $1 Million CPU Grid In Risk Performance
By Tom Groenfeldt, Contributor
HSBC, which has been running its credit value adjustment (CVA) for measuring counterparty risk exposure on a grid, is experimenting with using GPUs to reduce processing time. …read more
Source: FULL ARTICLE at Forbes Latest