New York Times (09/16/12) Nelson D. Schwartz

The surge in U.S. corporate profits, which has far surpassed the gains in the wider economy since the end of the last recession, is waning. Economic bellwethers such as Federal Express and Intel are warning of lower quarterly profits due to weakness in global demand. According to Thomson Reuters, 88 companies have said that results will be below expectations.

U.S. corporate profits have been strong, because companies kept expenses low and delayed hiring new employees. Going forward, though, “those factors are going to be very hard to replicate,” says Ethan Harris, chief U.S. economist at Bank of America Merrill Lynch. The expected downturn in profits has not yet triggered huge layoffs. However, it is a factor that is curbing hiring.

Los Angeles Times (09/17/12) Victoria Kim

About 50 Inland Empire warehouse workers and supporters started a six-day protest march Thursday to call attention to conditions at the warehouses, especially those that contract with Wal-mart. Wal-mart contracts with NFI Industries, and according to Wal-mart spokesperson Dan Fogleman, Wal-mart has contacted its contractors and visited the warehouses and found that workers’ claims about working conditions were “either unfounded, or if they are legitimate, have been addressed.” NFI said in a statement that it is “fully committed to doing things the right way for our people and our customers. That’s the only way we know how to do business.”