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Week One: America reacts to Obama’s reelection
AZ makes list of top five poverty states
Jobless claims surged by 78,000 to 439,000 in the week ended Nov. 10, the highest number since April 2011
Stock-index futures dropped erasing earlier gains.
As Barack Obama is about to begin his second term, latest statistics on America’s poverty rate indicate that nearly 50 million Americans — more than 16 percent of the population — are facing massive financial struggles. Poverty among full-time and part-time workers spiked from 2010 numbers.
According to Census Bureau figures, California tops the list as the state most likely to have people living in poverty. The top five is rounded out by the District of Columbia, Arizona, Florida and Georgia.
ObamaCare is already pinching both business and workers. A Florida-based restaurant restaurateur, who runs approximately 40 Denny’s and owns the Hurricane Grill & Wings franchise has decided to offset the new health care costs by adding a five percent surcharge to customers’ bills and reducing his employees’ hours. Numerous other restaurants including Papa John’s, Apple Metro and Jimmy John’s have announced plans to skirt ObamaCare by reducing employees hours to make them part-time. Earlier this week Papa John’s CEO told shareholders in a conference call this week that ObamaCare would cost the company 11 to 14 cents per pizza, a cost that will be passed on to customers.
The situation is no better when it comes to indulging your sweet tooth. Strikers are insuring you might have eaten your last Twinkie. The Irving, Texas based Hostess Brands Company, founded in 1930, employs nearly 18,000 people and operates 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores throughout the United States. But the company has announced that it will file a motion with the U.S. Bankruptcy Court on Friday to liquidate the entire Company if enough striking employees do not return to work.
Don’t look for any rainbows on the horizon. There are four long years ahead.
2012-11-16 10:41:15
Source: http://seeingredaz.wordpress.com/2012/11/16/week-one-america-reacts-to-obamas-reelection/
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