December 24, 2011 in Business

Briefcase

 

Air India first customer of South Carolina 787

CHARLESTON, S.C. – Air India is becoming the first customer for the Boeing 787 jetliners being assembled at a plant in North Charleston.

The Post and Courier of Charleston reported Friday that a spokeswoman for the manufacturer confirmed that the airline is scheduled to pick up a 787 in the spring.

Air India ordered 27 jetliners in 2005. Last month, the airline decided to proceed with the full order after loan approval from the Export-Import Bank of the United States and a sale-leaseback arrangement.

Boeing’s $750 million aircraft assembly plant opened earlier this year, the largest single industrial investment in South Carolina history. By 2013, Boeing expects to assemble 10 of the 787 jetliners per month, with about three of those coming from North Charleston.

Associated Press

Minimum wage increase set in Montana, Oregon

The minimum wage is scheduled to go up on New Year’s Day in Montana and Oregon.

The rate in Montana will increase 30 cents to $7.65 an hour. The Economic Policy Institute says that means an extra $624 per year in wages for a full-time minimum wage worker.   

The increase comes as a result of an initiative Montana voters adopted in 2006 that established annual cost of living increases.

Oregon’s minimum wage goes up 30 cents on Jan. 1 to $8.80 an hour. It will mean a pay raise to nearly 145,000 workers in the state.

The annual inflation increase is the result of an initiative approved by voters in 2002.

Associated Press

Gender gap broadens in Idaho salaries

BOISE – The gap between how much men and women earn in the Gem State widened in 2010.

The Idaho Statesman reports the salary disparity between men and women increased by 2.2 percent during the previous year, according to data from the federal Bureau of Labor Statistics. The survey showed the full-time wages of Idaho women were 77.6 percent of what men earned.

Idaho was ranked 36th among states for the ratio of salaries between the sexes.

State lawmakers previously passed a resolution to bring attention to the disparity and established Equal Pay Day on April 28. The date is recognized nationwide to mark how far the average woman would have to work into the year to catch up to what the average man earned in the previous year.

Associated Press

Settlement sends Idaho $34 million restitution

BOISE – Idaho is expected to get more than $34 million as part of a settlement in an illegal bonds derivative scheme.

Attorney General Lawrence Wasden announced the deal Friday reached with GE Funding Capital Marketing Services.

The multistate settlement is the result of a nationwide investigation into anti-competitive and fraudulent conduct of the municipal bond derivatives industry.

Derivatives are contracts that state and local governments can use to reinvest the money from bond sales or against the risk of changing interest rates.

In 2008, Idaho joined other states investigating if banks, insurance companies, brokers and others were taking part in schemes to rig bids or engage in other improper conduct.

Idaho agencies eligible to receive restitution payments include the Idaho Housing and Finance Association and the Boise City Housing Authority.

Associated Press


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