SunEdison Inc said an independent audit committee had identified several issues with the company’s cash-flow management but found no “material misstatements” in its historical financial reports.
In all, up to 450 sewers, auxiliary workers and supervisors will be laid off from American Apparel facilities in Garden Grove, downtown Los Angeles and South Gate, said Nativo Lopez, an adviser with the General Brotherhood of Workers of American Apparel. The Garden Grove plant is at 12641 Industry St.
Elk Grove officials have signed a tentative deal with a Bay Area tech company to bring 2,500 manufacturing jobs to the city.
Both regulators responsible for reviewing insurance mergers in California have now approved Centene Corp.’s $6.8 billion acquisition of Health Net, allowing the controversial deal to move forward.
Carpinteria-based CKE Restaurants, which also owns St. Louis-based Hardee’s, is consolidating both offices in Tennessee, where it has several company-owned restaurants. All senior executives, including Chief Executive Andrew F. Puzder will be moving to Nashville, Chief Marketing Officer Brad Haley said.
Isola Group is closing its Elk Grove manufacturing location. The cost: 72 jobs.
“We’re very interested in the Dallas area for future growth and have signed a lease in the Westlake area that can accommodate up to 500 employees,” Schwab spokeswoman Sarah Bulgatz told the Dallas Business Journal.
Speculation has swirled around the debut of another entrant into California’s crowded, cutting-edge automotive industry. The company, known as Faraday Future, “has been hunting for a place to build what it says will be a $1 billion manufacturing plant for a new line of cars,” reported the San Francisco Chronicle. “Four states are contenders and the company says to expect an announcement within weeks.”
The unique, quality products are sold to more than 600 stores in the United States and Nordstrom’s. Woof & Poof has been in Chico for 40 years, but that’s about to end. Hart says a raise in minimum wage and workers compensation are just a couple of issues that have made it difficult to keep the business financially afloat here. Hart said, “The high cost of doing business in California coupled with ridiculous regulatory environment makes it virtually impossible to do business.” He says he has seen an 11% hike in payroll.
Faraday said it plans to sell its first vehicle in 2017 and is eyeing factory locations including California, Georgia, Louisiana and Nevada.
A new study shows that about 9,000 companies left California in the last seven years to reduce costs and improve prospects of growing their businesses. The report provides details about disinvestments by company name, ranks the popularity of the destination states and cities, and outlines the difficulties of doing business in California.
San Ramon-based Chevron Corp. (NYSE: CVX) said that it would cut up to 7,000 jobs as its drastically reduces spending for 2016.
The company is one of four that operate in the Altamont Pass Wind Farm, which was one of the first wind farms in the country when commissioned in the early 1980s and currently has about 3,000 turbines.
And they have decided to shut down their wrecking business because of costly pending government and environmental regulations, including Affordable Care Act insurance for their employees, rising minimum wages, a stormwater runoff permit and family estate taxes.
Long Beach’s Medway Plastics Corp. is expanding its manufacturing and relocating its research and development operations to the Lone Star State, according to Texas economic development agencies and Medway.