Taco Bell's first restaurant is on the move
Taco Bell is rescuing its first restaurant by moving it to another city. The taco chain said Wednesday that it is saving its first restaurant from demolition by lifting it from its 53-year-old foundation in Downey, Calif., near Los Angeles, and moving it 45 miles southeast to Taco Bell's headquarters in Irvine, Calif. The restaurant, nicknamed Numero Uno, was opened in 1962 by founder Glen Bell as a walk-up taco stand with live music and fire pits. It closed in 1986, and other restaurants took over the space until it was emptied last year. Taco Bell is now owned by fast food operator Yum Brands Inc.
UAW gets OK for union vote at Tenn. plant
The National Labor Relations Board granted the United Auto Workers petition for a union vote for skilled trades workers at the German automaker's lone U.S. plant in Tennessee. The workers responsible for maintaining and repairing machinery and robots at the Chattanooga facility are now scheduled to hold a two-day vote on representation by the UAW starting on Dec. 3. There are about 162 skilled trades workers at the plant.
Pace of U.S. homebuilding slips in October
Apartment construction plunged sharply in October, as the pace of homebuilding slipped amid a broader cooling of the real estate market. Housing starts — both houses and apartments — fell last month 11 percent to a seasonally adjusted annual rate of 1.06 million homes, the Commerce Department said. Single-family house construction declined 2.4 percent. Last month's drop mostly stemmed from a 25.5 percent slide in the volatile multifamily category that includes apartments, a sector had posted a sharp increase in September.
Fairchild Semiconductor sold for $2.4B
Fairchild Semiconductor, which pioneered the integrated circuit that gave birth to Silicon Valley, said it has agreed to be acquired by Phoenix-based ON Semiconductor in a $2.4 billion cash deal. Fairchild investors will receive $20 a share — a 30 to 40 percent premium over Fairchild's share price in recent months, before word spread the company was for sale.
Citrix plans to lay off 1,000 workers
Restructuring at Citrix Systems will result in the elimination of 1,000 full-time and contract positions, the Florida-based company announced. The layoffs and other restructuring actions will take place in November and January, Citrix said. The 26-year-old Citrix is one of South Florida's largest technology companies with 1,700 employees in Fort Lauderdale alone. The company has 9,100 workers worldwide.
Condé Nast to stop publishing magazine
Condé Nast will stop publishing Details magazine at the end of the year, the company's president, Robert A. Sauerberg Jr., said. Details, a men's magazine with a circulation of about 560,000 according to Condé Nast's own figures, had long been the subject of speculation that it would close. Its December 2015/January 2016 issue will be its last, Sauerberg said.