Financial
Recount confirms SeaTac $15 minimum wage proposition PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 10 December 2013 07:50

SEATTLE (AP) — After an election recount Monday, a proposition to raise the minimum wage to $15 an hour in the city of SeaTac appears to have survived, King County election officials said.

The measure passed by 77 votes in last month's election, with 6,003 votes counted.

Ballots for SeaTac Proposition 1 were recounted by hand Monday, and no changes were identified, election director Sherril Huff said in a statement Monday afternoon.

The recount results were expected to be finalized Tuesday.

The recount was requested by Common Sense SeaTac, a business group that opposed the proposition.

The SeaTac minimum wage campaign drew $1.8 million in spending in the small city, with national labor groups supporting higher pay and national business groups opposing.

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Lululemon founder stepping down as chairman PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 10 December 2013 07:46

NEW YORK (AP) — The founder of Lululemon is stepping down as chairman after raising some ire with comments his about potential buyers of the retailer's yoga gear.

Chip Wilson said in a recent television interview that some women's bodies "just don't actually work" for Lululemon pants.

The Canadian company named lead director Michael Casey as chairman. Wilson will resign before the company's annual meeting in June.

Lululemon Athletica Inc. also said Tuesday that it is appointing Laurent Potdevin as its next CEO. He succeeds Christine Day, who announced in June that she planned to resign.

Potdevin is expected to become CEO in January. He will also become a board member at that time.

Day is anticipated to stay with Lululemon through the end of its fiscal year to help with the transition process.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Europeans open marathon talks on bank rescues PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 10 December 2013 07:47

BRUSSELS (AP) — Finance ministers of the European Union are discussing what they still need to do to create centralized controls over banks.

One major hitch has been how to finance a rescue fund for banks in trouble or that have failed. Germany has wanted each country to take care of its own banks. The French have been seeking a single EU-wide rescue fund.

Jorg Asmussen, member of the executive board of the European Central Bank, said Tuesday that recent bilateral negotiations have narrowed differences over the proposed fund. But he said he doesn't expect an agreement Tuesday.

Lithuania's finance minister Rimantas Sadzius, who is chairing the meeting, is more bullish. He says there are "strong chances" for a deal at Tuesday's talks, which are expected to last 18 hours or more.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
GM's Detroit headquarters goes landfill-free PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 10 December 2013 07:42

DETROIT (AP) — General Motors Co. says its downtown Detroit headquarters complex now recycles, reuses or converts all its daily waste to energy.

The automaker announced the update Tuesday, saying efforts at the Renaissance Center keep 5 million pounds of trash annually from landfills.

GM says work to make the Renaissance Center landfill-free took more than two years. It's being done through work with GM employees, recyclers, business tenants and their employees, the Detroit Marriott at the Renaissance Center and a property management company.

In addition to GM's headquarters and the hotel, the Renaissance Center houses 20 restaurants, 27 retailers and 11 other businesses.

GM says the Renaissance Center now recycles 49 percent of its total waste. The remaining waste is converted to energy a nearby facility.

___

Online:

http://www.gm.com


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
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