NORTH CAROLINA - VF Corp. said today that a jeanswear subsidiary is closing a plant in Wilson, which will affect 445 jobs as production winds down over the next 14 months.
The production from the VF Jeanswear LP plant will be transferred offshore, according to Sam Tucker, the vice president of human resources for the division. The division makes Wrangler and Lee jeans.
INDIANA - A southern Indiana community is losing dozens of jobs. Owens-Illinois Incorporated will fire as many as 65 people when it closes its plant in Sullivan County.
NORTH CAROLINA - FAYETTEVILLE, N.C. - M.J. Soffe Co. will cut 160 jobs in Fayetteville before July as it sends sewing work offshore, company officials said.
The work, which will go to El Salvador, is part of the apparel company's push to save money that included closing its Bladenboro sewing plant last month, as well as plants in Maxton and Wallace since 2002.
BANGALORE, India - VeriSign Inc., the U.S.-based company that runs the Internet's key address books, opened a research and development center in India on Tuesday and plans to make it the company's largest abroad.
VeriSign has begun hiring programmers in Bangalore to develop software to manage wired and wireless networks and to keep Internet transactions secure, said Aristotle Balogh, its senior vice president.
INDIA/CHINA - The information technology minister will travel to the United States this month to meet the top brass of Intel to encourage the computer chip giant to choose India over China for its new factory. "I''ll be going to the U.S. in the last week of this month to convince Intel to set up the next factory in India," Dayanidhi Maran, also in charge of telecoms, told reporters on Tuesday.
Iowa is one of the fastest-growing states for bankruptcy filings, but people will soon find it harder to wipe away their debts. Congress approved the biggest rewrite of the bankruptcy code in a quarter-century on Thursday. A 302-126 vote by the House sent the legislation to President Bush, who is eager to sign it. All five of Iowa's representatives voted yes. The bankruptcy passage came after eight years of efforts by banks, credit card companies and congressional backers, including Sen. Charles Grassley, R-Ia. The legislation cleared the Senate last month on a 74-25 vote.
Chapter 7 filings, the most popular form of bankruptcies, have grown 57 percent since 2000 in Iowa, according to the American Bankruptcy Institute. Only four states - Colorado, Michigan, Nebraska and Ohio - had a faster growth.