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Coca-Cola said Friday that it would offer buyouts to 4,000 employees as part of corporate restructuring and said that layoffs could be coming in the future.According to a press release, the buyouts will be offered to employees in the U.S., Canada and Puerto Rico with a hire date "on or before" Sept. 1, 2017. The company said the "voluntary program" would reduce the number of layoffs.According to Coca-Cola's statement, the company's current operating model consists of "17 business units" that will be consolidated into "nine operating units."Following the announcement, Coca-Cola's stock price rose nearly a point in early trading, an increase of just under 2%.According to WSB-TV, Coca-Cola has more than 86,000 employees nationwide. The Associated Press reports that company revenue fell 28% in the second quarter due to the effects from the pandemic, but executives are confident in recovery. 907
Congress has passed the biggest investment in national parks in decades.The House voted Wednesday to approve the Great American Outdoors Act, a sweeping conservation and public lands bill, which President Donald Trump has pledged to sign into law. Over the next five years, it will put up to .5 billion towards a backlog in needed maintenance for roads, facilities and more.“So, the park service, instead of doing band-aid fixes, they will have reliable, consistent funding to start doing some of these priority repairs, to ensure that our park service sites are safe, accessible, and they'll be around for generations to come,” said Marcia Argust, Director of the Restore America’s Parks Project.Argust advocated for the Great American Outdoors Act. She says this is the perfect time to make the investment, because Americans are looking to get outdoors more during the COVID-19 pandemic.The parks service has found the legislation will create 100,000 additional jobs. That's on top of the boost to businesses in surrounding communities that rely on visitors.Plus, the recreation industry as a whole supports 5.2 million jobs.“So, those are really important to sustain now more than ever, so this legislation during these times makes a lot of sense,” said Argust.The bill does not call for using taxpayer dollars. Money is expected to start flowing into national parks in October. 1391

COSTA MESA, Calif. (AP) — A judge has put on hold a U.S. plan to quarantine up to 50 people infected with a new virus from China in a Southern California city. Costa Mesa officials asked for a court to intervene Friday after learning that federal authorities planned to move patients to facility in the city as early as Sunday. They said they were not included in the planning effort and wanted to know how the local community would be protected from the possible spread of the virus that has spread globally. The judge has issued a temporary restraining order and has scheduled a hearing for Monday. 609
CLEVELAND — Who’s been at a store buying holiday gifts and then the cashier asks, “do you want to sign up for our credit card today?” They might offer a discount or something else, but should you sign on the dotted line?“They make it easy. They really make it easy,” Leanne Smith said.Smith is from Solon and knows how stores can tempt you with their credit cards, but she’s sticking to her Target Red Card for now.“I don’t think it’s a responsible thing for me to have one at every store,” she said.Tedd Rossman from CreditCards.com said that if you ever plan on carrying a balance, store cards aren’t going to be the best option for you.“While sometimes these store cards can work for you, most of the time, they’re not the most consumer-friendly option,” Rossman said.That’s because Rossman says the average store credit card has an interest rate of 25%, some as high as 29.99% such as Discount Tire, Big Lots and jewelry store cards like Kay Jewelers.“These cards are not as selective about credit quality, which is why the retailers and their bank partners say they have to charge such high-interest rates,” Rossman said.CreditCardInsider.com recently rated various popular store cards based on various things like interest rates.Here are those results:Target - 24.4%Old navy - almost 26% (25.99%)Walmart - roughly 18-27% (17.99%-26.99%) interestNathan Grant from CreditCardInsider.com said you shouldn’t just sign-up at the checkout on a whim even if there’s a discount offered or cashback incentives.“The percentage of interest you’re paying might end up calculating to be more than what you got from spending on the cards,” Grant said.According to Grant, some of the better retailer cards are:Amazon prime cards with lower interest rates—5% back on Amazon purchases and gift cards when you sign up. Target—higher interest rate, but 5% back. And the only one rated excellent is Costco’s card, which has a 15% rate and various cash back options and good rewards on gas purchases.But keep this in mind: In a survey of nearly 3,000 shoppers nationwide, more than 40% said they regretted signing up for a retail credit card. Plus, one out of five in the survey said they carried a balance from the last holiday season, and more than 50% said they’ve paid interest on a retail store card.“That’s kind of like a wake-up call even to myself to be like I got to make sure that I’m always smartly shopping if I’m using credit cards,” Grant said.For Smith, she said she’s only carried a balance a couple of times in the past 20 years because she knows “if you can’t pay it, you really shouldn’t buy it just because you have a credit card.”Retail credit cards can give you benefits especially if you’re loyal to the business. It could help you build credit, but you’ll want to pay off your balances every month and spend responsibly.And another thing to watch out for is deferred interest. Even if you owe just one dollar by the time the term ends, you could end up paying interest on the entire amount you initially financed.This story originally reported by Jonathan Walsh on News5Cleveland.com 3102
Crippled by falling revenue and piles of debt, radio conglomerate iHeartMedia has filed for bankruptcy.The beleaguered company announced Thursday that it has reached an agreement with creditors and investors to restructure more than billion in debt, about half of what it currently owes investors."The agreement we announced today ... allows us to definitively address the more than billion in debt that has burdened our capital structure," iHeartMedia CEO Bob Pittman said in a statement.The company said it had enough cash to support it through Chapter 11 proceedings.Last year, iHeartMedia flagged "substantial doubt" about its ability to continue as a going concern, as it struggled to get out from under a massive debt load it took on as part of a leveraged buyout of billboard company Clear Channel Outdoor in 2008.Related: Clear Channel changes name to iHeartMediaWhile the San Antonio-based company bills itself as a multi-platform media company, it is best known for operating about 850 radio stations across the United States. It also owns iHeartRadio's music streaming service, a popular concert business, and a majority stake in Clear Channel Outdoor.The company has struggled with falling revenue in recent years, as it competed with streaming rivals like Spotify and Pandora.The bankruptcy filing comes as Spotify prepares for its much anticipated billion listing on the New York Stock Exchange.The-CNN-Wire 1440
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