Payrolls fall 651,000 and jobless rate soars to 8.1%

Date: Fri, 06 Mar 2009 12:01:16 -0500
Payrolls fall 651,000 and jobless rate soars to 8.1%

The weakness in U.S. labor markets has gathered extraordinary
momentum, wiping away millions of jobs over the past four months
alone, the Labor Department
reports.

WELLS FARGO SLASHES DIVIDEND BY 85%

Calling it a "very difficult decision," Wells Fargo & Co. slashed its
quarterly dividend 85%, to 5 cents a share from 34 cents, in an effort
to save $5 billion and help the company pay back the government's
recent investment in the firm.

DESIGNERS PULL OUT THE STOPS; ORANGE FUR TO LUXURY'S RESCUE?

With the work of survival cut out for them, upscale designers are
going to great lengths to wow consumers with something new and even a
little wild, in a desperate bid to lure luxury shoppers back to
stores.

FORMER CHIEF EXECUTIVE AT KB HOME INDICTED FOR STOCK-OPTION BACKDATING

Former KB Home KBH Chief Executive Bruce Karatz was indicted Thursday
on criminal charges that he engaged in a stock-options backdating
scheme that allowed him and other executives to take in millions of
dollars in undisclosed compensation. Karatz was indicted in a Los
Angeles federal court on 20 criminal counts, including mail fraud,
wire fraud, securities fraud and making false statements in reports
filed with the Securities and Exchange Commission.