Early Briefing: Everything Goes
Happy Labor Day. It's Monday, so that means we're all local in the Business section today.
*The owners are nowhere to be found when the sheriff's deputy shows up. The landlord is ready, however, and unlocks the business and tells the crew of 25 men to start removing the contents. Everything.
All of it goes, though not very far. About 20 yards, actually. To the grassy public right of way between the parking lot of this suburban Maryland office park and the street. The tenants had been warned by the landlord and the sheriff's office. But they didn't pay and they didn't move. So now they're out.
Stories of people being evicted from their homes after falling behind on their rent or mortgages are all too common these days. But these days, the end of the boom times is hitting businesses as well.
*With the economy in the grip of a slowdown, American workers are increasingly losing full-time work to part-time employment, and the trend is particularly pronounced among Hispanics, contributing to the tough economic times hitting the nation's largest minority group.
Full-time work often becomes scare during an economic slowdown as companies cut back on expenses. A total of 5.3 million Americans who want full-time work held part-time jobs at the end of the second quarter, an increase of about 22 percent from the same period last year, according to the Labor Department.
Hispanics make up a disproportionate number of workers who hold part-time but want full-time work. While they make up about 14 percent of the U.S. labor force, they represent 33 percent of people who shifted from full-time to involuntary part-time work in the year ended June 30.
*On Thursday at 11:50 a.m. Pacific Daylight Time, GeoEye chief executive Matthew O'Connell plans to be at Vandenberg Air Force Base, watching a Boeing Delta II rocket roar into the California sky, carrying GeoEye's new imaging satellite -- and the hopes of his company's future. If all goes well, he'll hand out cigars.
O'Connell discussed the cost of a satellite and how it makes money, and what might happen if the launch fails.
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