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January 28, 2009

Digitial Transistion Un-Postponed

The House defeated the bill which would postpone the transition to digital television on Wednesday, the Star Tribune reported.
The Senate unanimously passed a bill two days ago which would delay the transition to June 14, but Republicans in the House were successful in stopping that plan.
Obama and Democrats believe that not enough Americans are ready for the switch, and today's decision was a major setback for them, the Star Tribune said.
The article, written by the Associated Press, cites Nielsen Co. reports that over 6.5 million homes rely that on analog television are not prepared for a transition next month.

Target Layoffs

Target, a Minneapolis-based retail business, announced the layoffs of 600 employees Tuesday in the Twin Cities, the Star Tribunehttp://www.startribune.com/business/38457219.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aUnciaec8O7EyUsr.
In addition to the cuts, Target announced they will not fill 400 open position, which makes the cut the largest in company history, said the Star Tribune.
Target will also close a distribution center in Arkansas, making the cuts go beyond just corporate jobs.
These layoffs go along with sales declines for nationwide retailers, the Star Tribune said.
According to the Star Tribune, layoffs at Target have been rare over the company's 47-year history.
The Pioneer Press lumped reports of the Target layoff in with layoffs at Best Buy Inc.
The combined loss at both retailers totaled 1,500 jobs, the Pioneer Press said.
The Pioneer Press cites cautious consumers in the unsteady economy as the cause of sales declines.
The Pioneer Press also reports that in 2008, Minnesota lost 55,400 jobs, and is expected to lose 60,000 in 2009. This is on pace with job loss nationally.

Petters Associate Jailed

Michael Catain, an associate of Tom Petters who plead guilty in October to one count of money laundering conspiracy, has his bail rescinded Wednesday the Star Tribune reported.
Catain violated his bail when he took about $14,000 from his Excelsior car wash. There was a court-ordered freeze on all of his assets.
Catain's lawyer told the Star Tribune that Catain had taken the money to pay bills and buy supplies for the car wash, but the judge agreed with prosecutors and said there was probable cause to believe that Catain had committed a crime.
KSTP TV also reported the story, and said that Catain's lawyers did not present a defense, but did ask the court for leniency.
KSTP also reported that as Catain was arrested, he handed his rosary to his wife. Both Catain and his wife were "visibly shaken" KSTP said.