In brief: Idaho jobless rate up slightly in August
Idaho’s seasonally adjusted unemployment rate rose to 8.9 percent in August, up one-tenth of a percentage point from July – the first increase since a two-tenths rise in February, the state Department of Labor said Friday.
Total employment fell to 688,700 from 690,100 in July. Unemployment rose to 67,400 from 66,900. The total labor force fell 900 to 756,100.
In August 2009, 685,800 had jobs, and the unemployment rate was 8.5percent.
The 1,000 jobs added by private employers in August was the second lowest total for the month since record-keeping began in 1997.
The department said it would release county and city breakdowns Sept. 17.
Bert Caldwell
Goldcorp Inc. buying Andean Resources
TORONTO – Canada’s Goldcorp Inc. said Friday it has agreed to buy Andean Resources Ltd. for about $3.42 billion, trumping a rival bid from Eldorado Gold Corp.
The acquisition would give Goldcorp, the world’s second-largest gold producer by market capitalization, access to Andean’s Cerro Negro gold project in Argentina, which is said to have a significant amount of gold and silver.
The Goldcorp-Andean deal has been approved by both companies’ boards but requires approval by a majority of Andean shareholders. The companies expect the deal to close by early 2011.
Andean is based in Utah and is listed on the Toronto and Australian stock markets. It acquired the Cerro Negro gold deposit in southern Argentina in 2004.
Associated Press
Judge OKs Kodak lawsuit settlement
ROCHESTER, N.Y. – A federal judge on Friday approved Eastman Kodak Co.’s $21.4 million offer to settle class-action lawsuits by black employees who maintained white counterparts were favored over them for pay and promotion.
In an almost seven-year legal tussle, U.S. Magistrate Jonathan Feldman signed off on a deal that pays about 3,000 current and past Kodak workers amounts ranging from $1,000 to $50,000. The decision ends a 2004 class-action lawsuit and a similar suit filed by other black workers in 2007.
The Rochester, N.Y.-based photography products maker was accused of paying black employees less than white co-workers, passing them over for promotions and maintaining a racially hostile work environment.
Under the settlement, 3,008 workers get $9.65 million and their lawyers $9.7 million in fees and expenses. Adjustments to individual awards were negotiated, with a dozen workers having $75,000 awards reduced by one-third.
Associated Press