The clock is ticking for the Metropolitan Opera in New York. The world's largest opera company may be headed for a shutdown. Most of the union contracts for the Met expire in a week. Yesterday, Met General Manager Peter Gelb sent a letter to the unions, warning them to prepare for a lockout if they don't come to terms.
For months now, the company and its unions have been at an impasse. Management has proposed cutting 16 percent of union members' compensation. Otherwise, Gelb contends, the company could go bankrupt in two to three years.
Bill Simon, head of Wal-Mart's U.S. division, is leaving the retail giant, the company said Thursday.
Any major shake-up at Wal-Mart is closely watched because the company is so important — it tops the Fortune 500 list with annual sales approaching a half-trillion dollars. So lots of people are speculating about what Simon's departure really means. Here are some theories:
Announcing six different safety recalls Wednesday, GM said it needs to fix problems that range from a turn-signal bug to an unpredictable loss of power steering. The flaws were found in vehicles from model years 2011 to 2015.
GM says no deaths and only two crashes have been linked to the recalls, which come in a year that has already seen the Detroit carmaker recall nearly 30 million vehicles worldwide. The company has "passed the 22 million vehicles recalled by all automakers last year," the AP says.
The year 2014 is well on its way to being Malaysia Airlines' annus horribilis. Flight 17, shot down last week over eastern Ukraine, is the second Boeing 777 the airline has lost in the past five months, after MH370 disappeared, it's believed, somewhere over the Indian Ocean.
But even before the double calamity, Malaysia's national carrier was struggling to adapt to momentous shifts in Asia's aviation industry.