Newspaper article St Louis Post-Dispatch (MO)


Newspaper article St Louis Post-Dispatch (MO)


Article excerpt


Mid-America Dairymen Inc. said it will close a cheese-processing plant in Mount Vernon in southwestern Missouri on Nov. 6, costing 75 jobs.

Company spokesman Dan Reuwee said Thursday the move was a cost-cutting measure. A similar plant in Chillicothe closed earlier this year.

Mid-America Dairymen, the nation's second-largest dairy cooperative, is consolidating its cheese-production plants, Reuwee said. AP

***** NATIONAL UNITED AIRLINES Workers Offer To Take Cuts In Exchange For Ownership

United Airlines' workers offered to take a $3.35 billion cut in pay and benefits over five years in return for a majority stake in the nation's second-largest carrier, according to a letter obtained by Reuters News Service Thursday.

The cuts would be shouldered by pilots, flight attendants, machinists, non-union workers and management employees, but the size of the stake they are seeking was not disclosed. UAL has been trying to cut costs to compete. Reuters

***** THE ECONOMY Labor Signs Are Mixed

The number of newly laid-off Americans seeking jobless benefits rose last week for the first time in a month, but the less-volatile four-week moving average still dropped to the lowest level in nearly four years.

New applications for unemployment insurance increased 8,000 during the week ended Aug. 21, to 332,000 from 324,000 a week earlier, the Labor Department reported Thursday. But the four-week moving average dropped 15,750 to 331,500.

Analysts prefer to track the four-week average because it smooths out the spikes that often occur in the weekly reports. AP

***** Mortgage Rates Fall Again

Interest rates on 30-year, fixed-rate mortgages fell this week for the 11th time in 14 weeks, dipping below 7 percent to a 25-year low, the Federal Home Loan Mortgage Corp. …

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