6at4 Business Report: Insourcing, Amazon goes Ultraviolet, Hostess
January 11, 2012 (WPVI) -- Pa. earns a high rank for bringing jobs back into the U.S.
Bringing jobs that fled overseas back into the U.S. over the past few years was the focus of a forum held by President Obama today. Data shows that Pennsylvania ranks number 4 in the country and has about 255,000 jobs at companies based in other countries that can be insourced. The president will propose new tax breaks to reward companies that bring jobs back to the U.S. and he's urging to eliminate tax breaks for companies that move jobs overseas
Amazon.com digital movies
Amazon.com has agreed to offer digital movies in the Ultraviolet format, which is Hollywood's common system for storing and streaming films. Amazon.com is the first major retailer to commit to using the platform. It will allow users to buy a movie, store it in a central online account, and then stream it to their Kindle Fire tablet.
Hostess files for bankruptcy
Hostess, the iconic company, behind Ding Dongs, Devil Dogs, Twinkies and Wonder Bread has filed for bankruptcy, again. This is less than 3 years after an earlier restructuring. Hostess is blaming the weak economy and costs tied to pension and medical benefit obligations and it now plans to modify collective-bargaining agreements with unions and also, plans to withdraw from pension plans.
6at4, stock market, economy, bankruptcy, food, amazon.com, president barack obama, unemployment, business/finance
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