Financial
Michigan works toward repeal of ticket scalping law PDF  | Print |  E-mail
Written by Associated Press   
Saturday, 01 March 2014 06:48

LANSING, Mich. (AP) — Repealing Michigan's rarely enforced ban against scalping tickets is, on its face, an effort to help out the average customer looking to sell a few unused tickets to a game or concert.

But it's also a high-stakes financial tussle — one between venue owners like pro sports teams and brokers who resell their tickets on the Internet. So far, the brokers are winning in Lansing.

The Republican-led House voted this week to legalize ticket scalping. Entertainment venues are hoping to block the bill in the GOP-controlled Senate.

Selling a ticket above face value is a misdemeanor that can lead to jail time and a fine.

Supporters say letting people buy and resell tickets freely would help consumers. Opponents say the legislation would lead to higher prices in the resale market.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
China's manufacturing slows to eight-month low PDF  | Print |  E-mail
Written by Associated Press   
Saturday, 01 March 2014 06:20

BEIJING (AP) — China's manufacturing activities expanded at the slowest pace since June, amid government efforts to rein in credit and investment growth, according to the industry group China Federation of Logistics & Purchasing.

The federation on Saturday released the purchasing managers index for February, which slid to 50.2, down from 50.5 in the previous month.

The measure is a 100-point scale on which numbers above 50 indicate increasing activity.

China's economic activity has slowed steadily as the government tries to reduce reliance on investment in industry and infrastructure and encourage more sustainable growth based on domestic consumption.

Analyst Zhang Liqun said the February data could have been distorted by the Lunar New Year holiday, when factories shut down for two weeks when workers went home in late January and early February.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
14-month sentence for man who stole from Pearl Jam PDF  | Print |  E-mail
Written by Associated Press   
Saturday, 01 March 2014 06:23

SEATTLE (AP) — A former financial officer of Pearl Jam's management company has been sentenced to 14 months in prison for embezzling more than $300,000 from the band.

The Seattle Times reports (http://is.gd/vpGb3n ) that Superior Court Judge Roger Rogoff agreed Friday to allow Rickey Goodrich of Novato, Calif., to remain free for two weeks to get his financial affairs in order. Goodrich will return in two weeks for formal sentencing.

His lawyer had sought probation.

The 55-year-old man pleaded guilty in December to six counts of first-degree theft. Prosecutors say he used company accounts to pay personal debts and fund lavish family vacations.

Prosecutors say he has already paid back $125,000 and has agreed to pay more in restitution.

Court papers say Goodrich worked as chief financial officer for Curtis, Inc., the management company owned by the band's manager Kelly Curtis. The Times says Goodrich was fired in September 2010.

___

Information from: The Seattle Times, http://www.seattletimes.com


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
No sign of expansion at plant where UAW dealt loss PDF  | Print |  E-mail
Written by ERIK SCHELZIG, Associated Press   
Friday, 28 February 2014 15:24
NASHVILLE, Tenn. (AP) — Friday marks the end of the two-week period within which U.S. Sen. Bob Corker promised Volkswagen would announce another line at its factory in Tennessee if workers there rejected representation by the United Auto Workers union.

So far, there's little sign of any pending announcement.

Workers at the Chattanooga plant ended up voting 712-626 against the UAW, in an election the union claims was tainted by threats and intimidation from Republicans like Corker, Gov. Bill Haslam and state lawmakers.

The UAW last week filed a challenge with the National Labor Relations Board, seeking to have results voided and a new election to be held.

The appeal cited warnings from GOP lawmakers that a pro-union vote would endanger key state incentives to secure the new line at the plant, and Corker's statements that a vote against the union would be followed in short order an expansion announcement.

"If the UAW is voted down they're going to come here immediately, within a two week period, and affirm they're going to build a line here," Corker told The Associated Press the day before the conclusion of the three-day vote.

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