LITTLE ROCK, Ark. (KTHV) -- CNN's Maribel Aber has your top business and financial news on this Wednesday, February 27.
Tyson optimistic about 2013 despite declining beef value, falling stock prices
Tyson Foods continues to be optimistic about the year despite a challenging second quarter, COO James Lochner told investors at the Goldman Sachs 17th Annual Agribusiness Conference in New York. Tyson stock was down close to 4.0 percent on Tuesday morning as the company battles declining beef value. Still, Lochner said the company has a positive outlook for the remainder of the fiscal year. "Margins have been compressed throughout the past month as the value of beef has fallen more than the price of cattle," Lochner said. "Historically, adjustments occur that allow for a spread between the revenue and the cattle cost. We run our plants for margin, not market share." Tyson's also saw compression in its pork operation. Lochner said, however, he expects that area to improve "in the back half of the year."
Study: Have new cars become unaffordable?
Have new cars become unaffordable? A new study indicates many car buyers may be overburdening themselves with payments they can't really afford by choosing more costly models. The median income in the metro areas of 25 major cities was $57,391 last year, Interest.com, an offshoot of Bankrate.com, found. That means that following its guidelines, families should limit their new car payment to $410 a month, which is enough to buy a new car for up to $20,806.
Community college grads out-earn bachelor's degree holders
Nearly 30% of Americans with associate's degrees now make more than those with bachelor's degrees, according to Georgetown University's Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities. The average wage for graduates of community colleges in Tennessee, for instance, is $38,948 -- more than $1,300 higher than the average salaries for graduates of the state's four-year institutions.
Harley-Davidson: No more music on factory floor
Hundreds of Harley-Davidson employees learned through a memo last week that their radios and music being piped onto the factory floor would be kaput by Wednesday -- part of a continuous effort to improve safety. No headphones. No headbanging. No rock ';n' roll. Just the sound of motorcycles being made. It's the sweet sound of productivity for a Fortune 500 firm whose earnings have made a comeback since an organization-wide restructuring began in 2009.