Money Minute: OOXML, Snoose and Ford
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Money Minute: OOXML, Snoose and Ford
BusinessMoney Minute: OOXML, Snoose and FordMoney Minute: OOXML, Snoose and FordThe Associated PressSouth Africa is appealing a decision to make Microsoft's Office Open XML format an internationally recognized standard for electronic documents. AP's Mark Hamrick reports on that and the rest of Wednesday's top business headlines. (May 28)AP Money Minute. South Africa is appealing a decision to make Microsoft's Office Open XML format an internationally recognized standard for electronic documents.Supporters of a rival format called OpenDocument Format have claimed that Microsoft used strong-arm tactics to win approval from the national committees and say OOXML still locks out competitors.The appeal means Microsoft will have to wait at least another month before knowing for sure whether the file format is approved as an open standard.---------------------As cigarette sales continue to decline, the Altria Group said it will deal with fewer cigarette sales by capitalizing on its Marlboro brand and selling more smokeless products. Chief Executive Michael Szymanczyk (suh-MAN-sihk) said the company has made "remarkable progress" in its testing and marketing of its Marlboro-branded moist smokeless tobacco and spitless product called snus (snoose).Szymanczyk made the comments at Altria's first shareholder meeting since the March spinoff of its international cigarette business.------------------------Ford plans to conduct involuntary layoffs of salaried employees as part of a restructuring in the face of slumping sales and record-high gas prices.The company hasn't yet determined how many white-collar jobs will be cut, but stressed that this round won't involve any voluntary buyout packages with financial or early retirement incentives. The company wants the cuts completed by Aug. 1, which is says is not enough time to roll out voluntary offers and wait for employees to accept them.I'm Mark Hamrick with AP Money Minute ___ ___, The Associated Press.(****END****)
YouTube | May 28, 2008
