Automotive
GM to add or keep 4,000 jobs in U.S.: General Motors is putting out help wanted signs. GM said Tuesday that it will add or keep 4,000 jobs in the U.S. by hiring new employees or calling back furloughed workers over the next year and a half. It’s the latest sign that the company and U.S. car industry are recovering from a sales slump and bankruptcies. GM will spend $2 billion at 17 plants in eight states to create the new work. Most of the investment will be in the Midwest. Beyond that, few details were released about where the jobs will land. It’s also not clear how many of the positions will be new hires. Many will be existing jobs retained with the introduction of new cars and trucks. The automaker will announce over the next few months which plants are getting new investments.
Entertainment
Disney 2Q profit misses estimates on ‘Mars,’ quake: Walt Disney says its second-quarter net income slipped 1 percent to miss analyst expectations as its amusement parks were hurt by the Japan earthquake and tsunami and the shift in the Easter holiday. Studio profit also was hit by the poor box office performance of “Mars Needs Moms.” Net income for the three months ended April 2 fell to $942 million, or 49 cents per share, from $953 million, or 48 cents per share, a year earlier. Revenue grew 6 percent to $9.08 billion from $8.58 billion a year earlier.
Food
Wendy’s/Arby’s plans price increases: Wendy’s/Arby’s Group plans to raise prices, following in the footsteps of competitors like McDonald’s. The company also cut its earnings outlook because of rising costs for beef and other ingredients. The announcement also came as the company reported a first-quarter loss and said revenue at Wendy’s locations had stagnated. In a statement, CEO Roland Smith called the run-up in beef prices “unprecedented.” He said the restaurant plans “prudent” price increases, meaning it doesn’t want to raise prices so much that customers opt to eat at home instead.
— Associated Press
