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In This Issue

  • U.P. Health System
  • EAA - Experimental Aircraft Association
  • Housing and New Real Estate Growth
  • The Future of the House of Ludington in Escanaba

Yahoo! Finance: Top Stories

Paying CEOs fat bonuses for stock performance doesn't work — Cornell study
Offering bonuses to a CEO to improve shareholder returns doesn’t improve the company’s performance, according to a new study by Cornell University and consultants Pearl Meyer & Partners.

Investors brace for stocks to fall again ahead of earnings
The global market volatility of the past month that sent U.S. stocks to their worst quarter in four years shows no signs of letting up just because the calendar turned to October. Investors say they are bracing for another leg down in the S&P 500 stock index despite its positive showing last week by increasing cash and other defensive positions in their portfolios. "Do I think we go into a bear market?

U.S. auto union faces tough road to salvage failed contract
DETROIT/CHICAGO (Reuters) - Mounting discontent among the United Auto Workers rank and file will complicate its leaders' bid to recover from the defeat of a proposed labor agreement with No. 3 U.S. automaker Fiat Chrysler Automobiles NV, UAW members said Friday. UAW President Dennis Williams and its vice president for Fiat Chrysler, Norwood Jewell, told local union leaders during a meeting in Detroit Thursday evening that negotiators would convene Friday and approach the automaker, people familiar with the discussions said. Williams and other top union leaders didn't discuss a strike at Fiat Chrysler in the near term, they said.

New chairman sees emissions scandal as threat to VW's viability: paper
Hans Dieter Poetsch, the incoming chairman of Volkswagen (VW)(VOWG_p.DE), sees the scandal around the rigging of emissions tests as a threat to the firm's viability albeit a surmountable one, a newspaper quoted him as saying. At an internal company meeting this week at the VW headquarters in Wolfsburg, Poetsch described the situation as an "existence-threatening crisis for the company", Germany's Welt am Sonntag reported in a release ahead of Sunday's publication. Poetsch also said that he believed VW could overcome the crisis, the newspaper said.

Merkel says VW scandal has not hurt Germany's reputation as good place for business
German Chancellor Angela Merkel told a German radio station that the emissions scandal around German carmaker Volkswagen (VOWG_p.DE) was "drastic" but the damage was not so great that Germany was no longer deemed a good place to do business. "I believe the reputation of the German economy and the trust in the German economy has not been shaken by this to the extent that we are no longer considered a good business location," she told Deutschlandfunk, according to the text of an interview due to be broadcast later on Sunday.

Exclusive: Lockheed Martin mulls merger of some services units with peer - sources
The contemplated transaction would create the largest government services contractor in the United States and would generate an estimated $2 billion windfall for Lockheed, the people said. Lockheed, the Pentagon's largest supplier, is looking to pay down debt following its agreement in July to acquire Sikorsky Aircraft, the helicopter unit of United Technologies Corp (UTX.N), for $9 billion in cash. CACI International Inc (CACI.N) and Science Applications International Corp (SAIC.N) are in early-stage talks with Lockheed about a so-called Reverse Morris Trust (RMT) deal for the assets, a transaction that would avert a hefty tax bill, the people said.

U.S. job growth stumbles, raising doubts on economy
U.S. employers slammed the brakes on hiring over the last two months, raising new doubts the economy is strong enough for the Federal Reserve to raise interest rates by the end of this year. Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday. "You can’t throw lipstick on this pig of a report," said Brian Jacobsen, a portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.

Pimco fund posts $2.3 billion net outflows in September
Investors pulled $2.3 billion in assets from Pacific Investment Management Co's flagship fund in September, up from $1.8 billion the previous month, as market sentiment soured over persisting concerns ...

Volkswagen starts telling customers if affected by emissions scandal
BERLIN/BRUSSELS (Reuters) - Two weeks after it admitted to cheating diesel emissions tests, Volkswagen provided the first information on Friday allowing customers to find out if their vehicles are affected. Volkswagen is under huge pressure to get to grips with the biggest business crisis in its 78-year history, which has wiped more than a third off its share price, forced out its long-time CEO and rocked both the auto industry and German establishment. The head of its U.S. business has been called to testify before lawmakers next Thursday, and Germany's KBA watchdog has set an Oct. 7 deadline for it to come up with a refit plan.

Pacific Rim nations close in on a landmark trade deal
Pacific trade ministers are optimistic of closing a sweeping Pacific Rim trade deal after progress on Friday on hurdles involving autos, dairy products and intellectual property protections for expensive biologic drugs. Ministers represented in the Trans Pacific Partnership (TPP) talks in Atlanta met for 20 minutes before breaking for negotiators to resume work on specific issues, work that Japan's Economy Minister Akira Amari said on Friday would likely go on all night. The United States and Australia are locked in intense negotiations over the length of time pharmaceutical companies have exclusive rights to produce and market next-generation medicines.