News In Brief
A three-way scramble began among officials in Chicago, Dallas-Fort Worth, and Denver to position their cities as the best place for Boeing to relocate after the aerospace giant said it will pull its headquarters out of Seattle. Conversely, Washington Gov. Gary Locke (D) and Seattle Mayor Paul Schell said they were "stunned" and "blindsided" by the announcement, although most of the 78,400 workers engaged in research and airplane-building in the state will remain there under Boeing's plan. Chicago politicians pointed to their city's central location, diverse economy, and well-educated pool of workers. Dallas and Fort Worth already are a major aviation center, with a huge international airport, other aerospace companies such as Northrop Grumman, Lockheed Martin, and Bell Helicopter, and American and Southwest airlines, both of which fly Boeing jets. Denver officials touted "a lifestyle second to none" and undeveloped acreage near both "the world's most technologically advanced airport," Denver International, and the now-closed Stapleton International.
In major layoff news:
* Proctor & Gamble said it will cut about 9,600 jobs, 40 percent of them in the US. The Cincinnati-based company is the No. 1 US maker of household products, among them such brands as Tide laundry detergent, Crest toothpaste, and Iams pet foods. Proctor & Gamble had previously announced it would cut 15,000 jobs through attrition and early retirement over five years.
* Charles Schwab Corp., the US's largest online securities broker, announced as many as 3,400 layoffs, blaming tough conditions in financial markets and weakening corporate earnings. Other economies may be announced later, company officials said.
(c) Copyright 2001. The Christian Science Monitor