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· Vegas Employer: Obama Won, So I Fired 22 Employees – LAS VEGAS (CBS Las Vegas) — A Las Vegas business owner with 114 employees fired 22 workers today, apparently as a direct result of President Obama’s re-election.
“David” (he asked to remain anonymous for obvious reasons) told Host Kevin Wall on 100.5 KXNT that “elections have consequences” and that “at the end of the day, I need to survive.”
“I’ve done my share of educating my employees. I never tell them which way to vote. I believe in the free system we have, I believe in the right to choose who they want to be president, but I did explain as a business owner that I have always put my employees first. I always made sure that when I went without a paycheck that [I] made sure they were paid. And I explained that I always put them first and unfortunately I’m at a point where I’m being forced to have to worry about me and my family now and a business that I built from just me to 114 employees.
“I explained to them a month ago that if Obama gets in office that the regulations for Obamacare are going to hurt our business, and I’m going to have to make provisions to make sure I have enough money to cover the payroll taxes, the additional health care I’m going to have to do, and I explained that to them and I said you do what you feel like in your heart you need to do, but I’m just letting you know as a warning this is things I have to think of as a business owner.
“Well unfortunately, and most of my employees are Hispanic — I’m not going to go into what kind of company I have, but I have mostly Hispanic employees — well unfortunately we know what happened and I can’t wait around anymore, I have to be proactive. I had to lay off 22 people today to make sure that my business is going to thrive and I’m going to be around for years to come. I have to build up that nest egg now for the taxes and regulations that are coming my way. Elections do have consequences, but so do choices. A choice you make every day has consequences and you know what, I’ve always put my employees first, but unfortunately today I have to put me and my family first, and you watch what’s going to happen. I’m just one guy with 114 employees — well was 114 employees — watch what happens in the next six months. The Dow alone lost 314 points today. There’s a tsunami coming and if you didn’t think this election had consequences, just wait.” Story Continued:
· FIRST ON CNN: Iranian jets fire on U.S. drone – By Barbara Starr
Two Iranian Su-25 fighter jets fired on an unarmed U.S. Air Force Predator drone in the Persian Gulf last week, CNN has learned.
The incident raises fresh concerns within the Obama administration about Iranian military aggression in crucial Gulf oil shipping lanes.
The drone was in international airspace east of Kuwait, U.S. officials said, adding it was engaged in routine maritime surveillance.
Although the drone was not hit, the Pentagon is concerned.
Also: Obama faces world of challenges in second terms
Two U.S. officials explained the jets were part of Iran’s Revolutionary Guard Corps force, which has been more confrontational than regular Iranian military forces.
The Obama administration did not disclose the incident, which occurred just days before the presidential election on November 1, but three senior officials confirmed the details to CNN.
The officials declined to be identified because of sensitive intelligence matters surrounding the matter.
The drone’s still and video cameras captured the incident showing two SU-25s approaching the Predator and firing its onboard guns.
The Iranian pilots continued to fire shots that went beneath the Predator but were never successful in hitting it, according to the officials.
U.S. military intelligence analysts are still not sure if the Iranian pilots simply were unable to hit the drone due to lack of combat skill, or whether they deliberately were missing and had no intention of bringing down the drone. But as one of the officials said, “it doesn’t matter, they fired on us.”
The official confirmed the United States protested the incident but has not heard back from Iran.
Iran has, at times, been confrontational in the region. In January, the U.S. military and coast guard had close encounters with Iranian Navy vessels which approached at high speeds and exhibited provocative behavior. Story Continued:
McDonald’s Corp. says a key sales figure fell in October, marking the first monthly drop in nearly a decade for the world’s biggest hamburger chain.
The company, based in Oak Brook, Ill., says global sales at restaurants open at least a year fell 1.8 percent for the month. The last time the figure dropped was in 2003. The figure is a key metric because it strips out the impact of newly opened and closed locations.
The fast-food chain says the figure fell 2.2 percent in both the U.S. and Europe. In the region encompassing Asia, the Middle East and Africa, it dropped 2.4 percent.
After year of outperforming its rivals, McDonald’s has seen sales slow recently as the company faces intensifying competition and a persistently weak economy. Story Continued:
· Boeing Announces Big Layoffs in Defense Division – Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.
The company [BA 70.98 0.87 (+1.24%) ] told employees about the changes on Wednesday, in a memo obtained by Reuters and confirmed by Boeing.
Boeing, the Pentagon’s second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company’s costs by $2.2 billion since 2010, according to the memo.
The measures come as U.S. weapons makers are under pressure to cut costs and preserve profit margins amid dwindling defense spending in the U.S.
In a message to employees, Dennis Muilenburg, chief executive of Boeing Defense, Space & Security, said the company aimed to cut costs by an additional $1.6 billion from 2013 through 2015.
“We are raising the bar higher because our market challenges and opportunities require it, and our customers’ needs demand it,” Muilenburg said.
He said the total savings would reach $4 billion, making the company healthier and better able to deal with a tougher marketplace.
He said Boeing would cut the number of executive jobs an additional 10 percent by the end of 2012, bringing overall cuts in its executive team to 30 percent for the past two years, a move that would result in a 10 percent cut in management costs.
Boeing said the changes were not a response to the threat of additional, across-the-board U.S. budget cuts due to take effect on Jan. 2, or the outcome of U.S. elections, but represented another step in its continuing drive to “be more competitive while investing in technologies and people.”
Boeing said it could not project exactly how workers would lose their jobs because it would try to place people in its growing commercial business.
A company spokesman declined to say how many jobs had already been cut from the 2010 level.
Rival Lockheed Martin has reduced its management ranks by about 25 percent in recent years after announcing a voluntary buyout.
Boeing said it would also expand its efforts to cut supply-chain costs by working closely with its suppliers, but did not provide details.
Defense consultant Loren Thompson said the changes were needed to ensure Boeing’s continued profitability.
“Many investors focus on Boeing’s commercial operations,” Thompson said, referring to the jet-making business.
“But defense provides 40 percent of the company’s revenues and returns, so controlling costs there is crucial to maintaining the company’s overall profitability.”
Boeing and other top weapons makers like Lockheed Martin [LMT 89.92 -1.23 (-1.35%) ], Northrop Grumman [NOC 65.42 -1.28 (-1.92%) ] and Raytheon [RTN 55.12 -0.35 (-0.63%) ] have focused heavily on cutting costs and drumming up foreign sales to maintain profits as they prepare for a sustained period of weaker defense budgets. Story Continued: