Finance Buzz
More job cuts are coming to some as Sun will cut 5,000 jobs in search of profits. Heinz is said to be on the move to cut 8 percent (2,700) of its work force. This may be part of the 19 percent profit drop Heinz has just announced.
Volkswagen is pulling a move from GM as they are in the process of buying out 85,000 workers. They are looking to jack up their profits over some time. Also, in the auto industry Toyota sales went up as Ford sales went down, but Ford is on mission to change that as they are offering gas rebate for 2006 models. Chrysler and General Motors had a decline too.
ALOCA avoided a strike. This is very good news for the company.
Bank of China’s IPO seen a 15% increase on it debut. Mastercard’s IPO jumped 18 percent to 46. Vonage is trying hard to make their IPO worth the buck as they are holding customers to their commitment, but I am sure many are trying to find a way out since this IPO value has fallen 29 percent and I am sure it will continue to fall if Vonage is getting worried about the holders.
Today technology had carried the Dow and the NASDAQ up. The NYSE still has Euronext in site.
