Friday, February 10, 2012
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General Electric Co., which owns businesses ranging from light bulbs to NBC television, on Friday said it will restructure into four businesses from six, a move that Chief Executive Officer Jeff Immelt says will focus the company on growth.
Immelt has been under pressure to shake up GE since it announced disappointing first-quarter earnings in April, shocking investors and pushing down its share price.
Friday’s move follows GE’s recent plan to consider spinning off its iconic lighting and appliance businesses.
AOL is shutting three data-storage services, including one of the Internet’s earliest photo-sharing sites, as it seeks to cut costs and focus resources on its advertising opportunities.
AOL Pictures, the year-old media-sharing site BlueString and the online backup service Xdrive will likely shut down by year’s end, though the company is looking to sell at least Xdrive, which AOL bought in 2005 for an undisclosed fee.
Company officials denied speculation Friday that the closures were meant to prime AOL for a sale.
Lufthansa AG, Germany’s biggest airline, faces a major strike by ground crews and others next week after the union said Friday that its members voted overwhelmingly to support a massive walkout.
The Ver.di union, which represents some 52,000 Lufthansa workers, said nearly 91 percent of its members voted for the strike in two weeks of balloting that came after talks with the airline collapsed July 10.
Lufthansa will have to see when and where the walkouts unfolded before it could determine how its domestic and international flights, including long-haul destinations to Asia, the Middle East and the Americas, were affected, said Lufthansa spokeswoman Claudia Lange.
General Motors Corp. said Friday it will allow employees to offer an employee discount to any one person through July 31. Employee discounts are normally limited to employees and their immediate family.
GM spokeswoman Susan Garontakos said the discount is good for all of GM’s vehicles. The exact amount a buyer would save depends on the particular model.
Portafino, an Italian restaurant at 900 Schechter Drive, Wilkes-Barre Township, is open for business, serving lunch and dinner six days a week. Hours are Tuesday through Thursday 11 a.m. to 10 p.m., Friday and Saturday 11 a.m. to 11 p.m. The lounge will be open later each night. Sunday hours are from 11 a.m. to 8 p.m. and brunch will be available. Reservations are recommended and can be made by calling 822-8822.
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