Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
FIDELITY ACQUIRES ATLANTA COMPANY
Fidelity National Financial has acquired Digital Insurance, an Atlanta company handling employee benefits for small businesses and mid-sized companies.
Dan Murphy, FNF senior vice president and treasurer, said the purchase will mean little for the Jacksonville headquarters. Digital will remain based in Atlanta and is not a major acquisition financially.
Digital had revenue of $50 million in 2012 while FNF, a title insurer with a growing portfolio of other businesses, expects to be in the $5 billion range.
Last year, FNF bought two restaurant chains: J. Alexander's for $72 million and O'Charley's for $221 million.
Roger Bull the Times-Union OMNI AMELIA ISLAND PLANTATION JOB FAIR
Omni Amelia Island Plantation will begin holding job fairs this week to fill 160 new permanent jobs along with 200 seasonal ones. The hotel closed in November for $85 million in renovations, and it will reopen in March. The rest of the resort remained open.
The jobs range from housekeeping to sales and management, and the job fairs begin Friday from 9 a.m. to 6 p.m. at the resort's Racquet Park. Apply online at OmniAmeliaIslandJobs.com, visit the Associate Service Center or attend one of the job fairs. For more information about Friday's event, call (904) 261-6161.
The Omni is the second Amelia Island resort to announce a job fair. Saturday, Ritz Carlton-Amelia Island will hold a job fair 8 a.m. to noon to fill 70 positions. For more information, call (904) 277-1100.
Roger Bull the Times-Union SPENDING DECLINES ON CONSTRUCTION
WASHINGTON | U.S. builders spent less on construction projects in November, the first decline in eight months, as activity was held back by a big drop in spending on federal projects.
The Commerce Department says construction spending dipped 0.3 percent in November compared with October, when spending had risen a revised 0.7 percent. It was the first drop since March.
The November decline left total spending at a seasonally adjusted annual rate of $866 billion, 16.1 percent above a 12-year low hit in February 2011.
Even with the gain, the level of spending remained only about half of what's considered healthy.
Associated Press MOODY'S SAYS U.S. CREDIT RATING SHAKY
WASHINGTON | Moody's Investors Service says Congress must go beyond its deal this week and come up with a plan to shrink the budget deficit if it wants to keep the U.S. government's top credit rating.
The credit rating agency says in a statement that it expects lawmakers in the coming months will take additional steps needed to lower the deficit, which has topped $1 trillion annually in each of the past four years. But if it fails to do so, the government's "Aaa" credit rating could be at risk.
Moody's had warned in September that it would likely cut its rating by one notch if the year-end budget negotiations failed.