Regulators Shut Down Guaranty Bank Wisconsin-based Guaranty Bank is no more. The bank, with over 100 branches across the country (doing business as Best Bank in Georgia and Michigan), was closed by regulators. About 500 bank employees were laid off. Guaranty Bank is the fifth Federal Deposit Insurance Corporation (FDIC)-insured institution to fail in the U.S. this year.
Meeting among EU Leaders Has Trump Going Back on Brexit President Donald Trump is said to have expressed concern that Brexit may cost American jobs during a meeting with European Union leaders.
The U.S. might be in an economic recovery, but American retailers are closing their doors at a record pace. So far, more than a dozen national retailers have announced they are either downsizing or going out of business altogether. That’s more than twice as many stores were closed at this time in 2016.
Ford Motor Company (NYSE:F) is probably the most iconic American auto manufacturer in history. Yet, despite being the leading seller of trucks and SUVs—at a time when sales are soaring—Ford is expected to announce it will lay off 20,000 employees, which is about 10% of its global workforce. Of Ford’s 200,000 employees, half of them (more…)
American jobs are not even safe at the country’s largest banking institutions. Wells Fargo & Co announced plans to close 450 branches by the end of 2018—50 more than the bank announced earlier this year.
Another City Edges Closer to Defaulting A City of Hartford bankruptcy has become more likely, as municipal defaulting in the United States becomes more common.
An increasingly large number of U.S. cities and states are facing a looming crisis after a funding hold in public pension systems soared by $432.0 billion. This is raising fears that some of America’s biggest cities and most populous states could face a Detroit-style bankruptcy.
More Sears Stores to Close Sears announced at the start of the year that it would be closing 150 underperforming stores, but the gutting didn’t stop there, with 30 more quietly added to the list.
Budget Proposal Shows Large Reductions in Aid Programs The Rust Belt and the less-educated to suffer as a result of government cutbacks to Social Security and Supplemental Nutrition Assistance Program (SNAP), according to a study conducted for The Atlantic.
Uniquely American Brand Turns to Outsourcing Harley-Davidson Inc (NYSE:HOG), the motorcycle manufacturer known as an international American icon, has begun shifting its building focus to the East, opening up new factories in Asia in order to get around tariff barriers.