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Wednesday, Nov. 11, 2009

The Buzz On Business

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FEDEX BULLISH ON HOLIDAY SHIPPING

FedEx is predicting a little more holiday cheer this year. The Memphis, Tenn.-based company forecasts it will ship 13 million packages on Dec. 14, which it expects to be its busiest day this year. That would be up more than 8 percent from about 12 million packages shipped on its peak day last year. That was the busiest day ever for FedEx, partly because of a growing partnership with the U.S. Postal Service. Last year's volumes were boosted because of rival DHL exiting the U.S. market, too. FedEx bases its predictions on discussions with large customers and improving economic data.

CPA WILL TALK ABOUT TAX UPDATES

The annual update on tax issues will be on the agenda at Thursday's monthly dinner meeting of the Central California chapter of the Institute of Management Accountants. Gary McKinsey of Grimbleby Coleman Certified Public Accountants in Modesto will be the speaker. The event will be at 6:30 p.m. at the Clarion Inn, 1612 Sisk Road. The cost is $20 for professionals and $10 for students. For reservations, call Elsie at 481-6329.

SEMINAR WILL COVER WORKPLACE ACCIDENTS

Employers can learn how the state investigates workplace accidents at a free seminar from 7:30 a.m. to noon Thursday in Modesto. Experts with the California Division of Occupational Safety and Health will talk about their procedures and the violations they often find. The seminar will be at the DoubleTree Hotel, 1150 Ninth St. A continental breakfast is included. The event is sponsored by the State Compensation Insurance Fund. To register, call Aurora Zendejas at 476-2723 or go to www.scif.com.

WOMEN BOOST UNION RANKS

Women are on track to become a majority of unionized workers in the next 10 years, signaling their growing clout in the labor movement. The shift, outlined in a report Tuesday from the Center for Economic and Policy Research, could see organized labor focus more intensely on issues important to women. "When you have a majority of women in the labor movement, issues like work-family balance, paid sick days and paid parental leave become more important," said John Schmitt, an economist at the left-leaning think tank and one of the authors of the report. The study tracks the growing diversity of the labor movement over the past quarter-century, including a surge in Latino union members and the decline of unionized workers from the manufacturing sector. Women make up about 45 percent of union members, up from 35 percent in 1983. That number is expected to move past 50 percent by 2020. White men make up 38 percent of the union work force, down from 51.7 percent in 1983. Latinos more than doubled their representation from 5.8 percent to 12.2 percent over 25 years. Asian workers saw their ranks growl from 2.5 percent in 1989 to 4.6 percent in 2008.

COMMODITIES LITTLE CHANGED

Commodities prices stalled Tuesday as investors got little direction from the dollar.

  • Gold for December delivery added $1.10 to $1,102.50 an ounce.
  • December silver fell 25.8 cents to $17.222 an ounce. December platinum gave up $16 to $1,348 an ounce. Palladium futures also fell.
  • December copper dipped less than a penny to $2.9615 a pound.
  • Light, sweet crude for December delivery fell 38 cents to $79.05 a barrel.
  • Heating oil futures fell 1.04 cents to $2.0523 a gallon. Gasoline futures dipped less than one cent to $1.9774 a gallon.
  • December wheat futures rose 3 cents to $5.23 a bushel. Corn for December delivery added 8.5 cents to $3.945 a bushel.
  • January soybeans lost 4 cents to $9.68 a bushel.

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