International Business News - woes http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The worsening economy continues to batter Atlantic City casinos, with Resorts Atlantic City missing a crucial loan payment that could jeopardize the future of Atlantic City's first casino and the Tropicana Casino and Resort laying off 50 supervisors. http://www.ibtimes.com/articles/20081121/financial-problems-hit-atlantic-citys-casinos.htm Fri, 21 Nov 2008 15:30:03 EST The Wisconsin Legislature will have to meet in special session early next year to begin dealing with the worst budget deficit in state history. Gov. Jim Doyle received a report Thursday that confirmed the bad news state policy makers have expected for weeks. http://www.ibtimes.com/articles/20081120/wis-faces-worse-budget-shortfall-in-state-history.htm Thu, 20 Nov 2008 17:02:10 EST The cost of public transit in New York City would skyrocket next year--even as bus and subway service is reduced--under a plan unveiled Thursday by the nation's largest such system. http://www.ibtimes.com/articles/20081120/huge-fare-hike-proposed-for-nyc-transit-system.htm Thu, 20 Nov 2008 17:20:10 EST In the sparkling blue waters off Greece's bustling port of Piraeus, dozens of hulking carrier ships loom out of the haze of a retreating thunderstorm. After spending several boom years racing across the world's oceans, they swing idly on their anchors, waiting for cargo. http://www.ibtimes.com/articles/20081120/greek-shipping-hit-by-global-financial-crisis.htm Thu, 20 Nov 2008 16:05:40 EST Riders on New York City's trains and buses should brace themselves for a big fare hike. The authority that runs the nation's largest public transit system said Thursday that it will have to raise fare revenue by 23 percent next year in order to plug a planned budget gap. http://www.ibtimes.com/articles/20081120/huge-fare-hike-proposed-for-nyc-transit-system.htm Thu, 20 Nov 2008 11:43:37 EST At least three Wisconsin state agencies say they can't meet Gov. Jim Doyle's orders to come up with plans to cut spending by 10 percent, an ominous sign of the tough budget-balancing task ahead. http://www.ibtimes.com/articles/20081119/wis-state-agencies-say-they-cant-cut-budgets.htm Wed, 19 Nov 2008 14:34:14 EST Wisconsin state agencies need to identify more than the 10 percent in cuts in order to help the state cope with a projected $5 billion budget shortfall. http://www.ibtimes.com/articles/20081114/wisconsin-state-agencies-told-to-cut-more-spending.htm Fri, 14 Nov 2008 15:51:48 EST NewPage Corp. reported a heavy third-quarter loss Wednesday, one day after the papermaker said it would cut fourth-quarter production due to a weak market outlook. http://www.ibtimes.com/articles/20081113/newpage-reports-heavy-3q-loss-will-cut-production.htm Thu, 13 Nov 2008 08:12:55 EST The idea of NASCAR racing without Chevrolets and Fords on the track once would have been unthinkable. But that possibility is no longer farfetched as the continuing economic meltdown puts the already struggling automakers in even greater jeopardy. http://www.ibtimes.com/articles/20081112/facing-tough-times-chevy-ford-sticks-with-nascar.htm Wed, 12 Nov 2008 14:43:00 EST Gov. Jim Doyle says Wisconsin's budget deficit will reach $5 billion by the end of the next budget cycle thanks to declining tax collections and a national recession. http://www.ibtimes.com/articles/20081111/wisconsin-governor-delivers-more-economic-bad-news.htm Tue, 11 Nov 2008 16:25:21 EST The agency that runs New York City's subways, buses and commuter trains is facing a $1.2 billion deficit next year. The Metropolitan Transportation Authority's executive director says the agency will likely need to raise fares and tolls or cut services to close the gap. http://www.ibtimes.com/articles/20081110/nyc-transit-agency-facing-1-2-billion-deficit.htm Mon, 10 Nov 2008 12:43:25 EST Military whistle-blowers might want to save their breath. The Pentagon inspector general, the internal watchdog for the Defense Department, hardly ever sides with service members who complain that they were punished for reporting wrongdoing, according to a review of cases by The Associated Press. http://www.ibtimes.com/data/articleimgs/164455-whistle-blower-woes.jpg http://www.ibtimes.com/articles/20081031/whistle-blowers-get-little-help-if-punished.htm http://www.ibtimes.com/articles/20081031/whistle-blowers-get-little-help-if-punished.htm Fri, 31 Oct 2008 11:55:18 EDT A pension fund covering 413,000 Colorado public employees and retirees has lost $10 billion in market value through mid-October. The drop in the assets of the Public Employee's Retirement Association raises the prospect of higher contribution rates or lower benefits if the market doesn't improve quickly. http://www.ibtimes.com/articles/20081030/colo-public-employee-pension-fund-plunges-10b.htm Thu, 30 Oct 2008 14:40:20 EDT It would have been easy in the past for Yulia Vasilevskaya to find work after being laid off from her job in the legal department of a private Moscow company. http://www.ibtimes.com/articles/20081029/crisis-spurs-uptick-in-russias-unemployed.htm Wed, 29 Oct 2008 08:49:34 EDT Citic Pacific Ltd., a leading symbol of China Inc., has become one of the country's biggest casualties of the financial crisis after a risky currency bet soured and the market turmoil made it even worse. http://www.ibtimes.com/articles/20081024/citic-pacific-hit-by-wrong-way-currency-bets.htm Fri, 24 Oct 2008 11:57:47 EDT Japan was dealt the biggest blow yet from the unfolding global financial crisis when the yen surged to a 13-year high Friday against the dollar and spiked against other major currencies. The jump darkens earnings prospects for the nation's major exporters and threatens to drag the world's No. 2 economy into a recession. http://www.ibtimes.com/data/articleimgs/158875-japan-markets.jpg http://www.ibtimes.com/articles/20081024/surging-yen-alarms-export-dependent-japan-inc.htm http://www.ibtimes.com/articles/20081024/surging-yen-alarms-export-dependent-japan-inc.htm Fri, 24 Oct 2008 10:02:33 EDT With oil prices plummeting and gas prices slipping below $3 per gallon, Jeff Downs' fuel bills aren't the heftiest toll on his budget anymore. Downs, filling up an SUV at a local gas station Monday where regular unleaded fuel was selling for $2.99 per gallon, said he and his wife had been shelling out $650 per month to fill up their two vehicles, exceeding the costs of groceries and most everything else. http://www.ibtimes.com/articles/20081020/la-treasury-takes-a-hit-as-oil-prices-decline.htm Mon, 20 Oct 2008 17:38:31 EDT Unemployed worker Wang Wenming was angry at his boss for shutting down a massive Chinese factory this week that made toys for Mattel Inc., Hasbro Inc. and other American companies. http://www.ibtimes.com/data/articleimgs/155954-china-factory-woes.jpg http://www.ibtimes.com/articles/20081020/china-factory-closure-a-sign-of-deeper-pain.htm http://www.ibtimes.com/articles/20081020/china-factory-closure-a-sign-of-deeper-pain.htm Mon, 20 Oct 2008 10:07:07 EDT With little relief in sight, people are getting more anxious about the slumping economy and how it affects them. The share of people who believe the country is moving in the right direction has plunged in just a few weeks, from 28 percent in September to 15 percent in October, according to an Associated Press-Yahoo News poll of likely voters that was released Monday. http://www.ibtimes.com/data/articleimgs/156008-economic-woes-poll.jpg http://www.ibtimes.com/articles/20081020/poll-finds-high-anxiety-on-economy-this-month.htm http://www.ibtimes.com/articles/20081020/poll-finds-high-anxiety-on-economy-this-month.htm Mon, 20 Oct 2008 13:36:05 EDT Unemployed worker Wang Wenming was angry at his boss for shutting down a massive Chinese factory this week that made toys for Mattel Inc., Hasbro Inc. and other American companies. http://www.ibtimes.com/data/articleimgs/155454-china-factory-woes.jpg http://www.ibtimes.com/articles/20081019/factory-closure-in-china-a-sign-of-deeper-pain.htm http://www.ibtimes.com/articles/20081019/factory-closure-in-china-a-sign-of-deeper-pain.htm Sun, 19 Oct 2008 12:18:07 EDT