If you hate your job, you’ve got company. A new state of the workplace report by Gallup says only 30 percent of US employees are engaged or inspired at work while 70 percent are not fully inspired. The report estimates that widespread disinterest and unhappiness in the office is not only affecting company performance, but is costing the US $450 billion to $550 billion a year in lost productivity. Gallup CEO Jim Clifton says some workers “roam the halls spreading discontent.”
Angry Chinese workers who are keeping an American executive confined in his Beijing medical supply plant claim they have not been paid in two months in a compensation dispute. The executive, Chip Starnes of Specialty Medical Supplies, denied the workers’ allegations of unpaid wages. He spent a fifth day at the plant in Beijing’s northeastern suburbs, peering out from behind the bars of his office window. About 100 workers are demanding generous severance packages identical to those offered 30 workers being laid off from the Coral Springs, Fla.-based company’s plastics division. The demands followed rumors that the entire plant was being closed, despite Starnes’ assertion that the company doesn’t plan to fire the others.
Worries about China and rising US interest rates pushed stocks down again yesterday. The Dow Jones index lost 140 points – about 1 percent. But have all the jitters in the market been overdone? Some analysts certainly think so. Stock futures rose overnight. Asian stocks, which have lost a lot of ground in recent days, were mostly lower overnight.
More borrowers fell behind on their auto loan payments in the first three months of the year. Credit reporting agency TransUnion says the rate of auto loan payments late by 60 days or more rose to 0.88 percent – up from 0.82 percent in the same period last year. The uptick in the auto loan delinquency rate reflects increased lending to subprime borrowers, who accounted for 15 percent of all U.S. auto loans for the quarter.
Did you know that there are 400 calories in a Mocha Frappuccino? That and other calorie-buster secrets are to be revealed today by Starbucks as the chain posts the numbers on menu boards across the country. The information has been posted at New York City Starbucks and at several other outlets, but today is the first time calorie counts will be available nationwide. Starbucks is also raising prices on coffee and tea drinks by about 1 percent today.
Richard Davies Business Correspondent ABC News Radio abcnews.com Twitter: daviesabc