June 26, 2011, 2:06 pm
Ocean State Job Lot, a privately-held company headquartered in North Kingstown, Rhode Island, opened its 103rd retail location at 911 Central Ave. on Monday, bringing approximately 50 new jobs to Albany. They are currently hiring and will hold a ribbon-cutting ceremony on Thursday, July 7.
Ocean State Job Lot, which now has five retail stores in the Capital Region, sells brand name merchandise at closeout prices, including household goods, kitchen supplies, toys, and designer clothing. The company acquires most of its merchandise from manufacturers who have overstocked merchandise or discontinued brand name goods and are willing to sell the product at discounts.
Through the Ocean State Job Lot Charitable Foundation, Job Lot donates food valued at four times the amount donated dollars would typically purchase to local food banks. The Foundation also supports charities and causes including health organizations, disaster relief efforts, the performing arts, special needs children, foster children, and educational institutions.
January 22, 2010, 7:06 pm
The Wall Street Journal
Wal-Mart Stores Inc. is cutting 10,000 jobs at its Sam’s Club warehouses nationwide, mostly part-time employees assigned to demonstrate products and hand out samples to shoppers.
The move comes as Wal-Mart outsources its product-demonstration teams to an independent marketing company, Shopper Events.
In a memo to employees, Brian Cornell, president and chief executive of Sam’s Club, said Shopper Events would develop a new demonstration program, “Tastes and Tips,” covering not only food and beverages but also electronics and other products.
Sam’s Club employees laid off because of the shift can apply for jobs at Shopper Events.
The move comes shortly after Wal-Mart said it would close 10 underperforming Sam’s Club stores, eliminating 1,500 jobs.
January 7, 2010, 11:44 am
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What’s driving prices: The government said that 85,000 jobs were lost in December, after 4,000 jobs were added in November.
The December number significantly missed economists’ expectations, which were flat ahead of the report, according to a consensus estimate from Briefing.com.
The unemployment rate was unchanged at 10%, as economists predicted.
What analysts are saying: The dollar will remain under pressure Friday because of the dismal jobs number, said Jacob Oubina, a currency strategist at Forex.com.
Oubina said that in 2009, negative economic data was positive for the dollar because investors viewed the currency as a safe haven and were less inclined to choose riskier assets like stocks.
But this has changed going into the new year as worries about the financial recovery ease, he said.
“Now people have more confidence,” he said.
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