Percentage of people who own homes drops in June
The percentage of people who owned their own home, rather than rented one, dropped in June to a level not seen since the second quarter of 1995.
The second-quarter homeownership rate of 64.7 percent compared with 64.8 percent in the first quarter and 65 percent in 2013′s second quarter, according to Census data released Tuesday.
Homeownership rates peaked in 2004 and 2005.
Three reporters subpoenaed in defamation lawsuit
Three reporters for a food safety publication have been subpoenaed in the $1.2 billion defamation lawsuit against ABC related to the network’s coverage of a meat product derided as “pink slime.”
Court records show that the writers for the online Food Safety News have been asked to supply all communication they had with ABC in 2012.
Attorney Bruce Johnson said Tuesday that the subpoenas were “overreaching” and that the publication would fight the requests.
Beef Products Inc. sued ABC in 2012 alleging that its reports led to plant closures and layoffs because it misled consumers into believing the product was unsafe.
Amgen to lay off workers despite strong quarter
Biologic drugmaker Amgen said Tuesday that it will lay off 12 percent to 15 percent of its worldwide workforce and close four sites, even as it reported very strong second-quarter results that trounced Wall Street expectations.
The maker of Prolia for osteoporosis and anemia treatment Aranesp said it’s restructuring to free up money needed for investments in the business, particularly marketing costs for launching new drugs.
The layoffs will happen this year and next, eliminating 2,400 to 2,900 jobs, mostly in the U.S.
Amgen said it will streamline the company, reduce management layers and reduce its real estate footprint by 23 percent.
Meanwhile, Amgen posted a 23 percent jump in second-quarter profit as revenue jumped 11 percent.
Crayon maker planning Crayola Experience Orlando
EASTON, Pa. — Crayon manufacturer Crayola is building a family attraction in Florida, similar to the one it operates in its home state of Pennsylvania, and more could be on the way around the country if the new one does well.
The company said Tuesday that Crayola Experience Orlando will open next summer at The Florida Mall.
Crayola Experience Orlando will feature 25 hands-on activities in 70,000 square feet of space. One attraction will let children create their own unique crayon with a personalized wrapper. Another will let kids appear on their own coloring page.
Crayola, a subsidiary of Kansas City, Missouri-based Hallmark Cards Inc., noted Orlando is a top family destination.