3,000 employees set for Monday furlough
BETHESDA, Md. -- Lockheed Martin will furlough 3,000 employees Monday and potentially more in coming weeks due to the government shutdown.
The defense contractor said Friday that the furloughs will affect its business nationwide and it is working closely with customers to assess the impact. It said the number of employees put on furlough will increase weekly if the shutdown continues, but did not specify how high the count could rise.
"I'm disappointed that we must take these actions and we continue to encourage our lawmakers to come together to pass a funding bill that will end this shutdown," Marillyn Hewson, Lockheed's CEO and president, said in a statement. "We hope that Congress and the administration are able to resolve this situation as soon as possible."
Lockheed says the furloughs include employees who are unable to work because the government facility where they perform their work is closed, as well as those whose work requires a government inspection that cannot be completed or for which the company has received a stop work order.
Sandwich chain soars on first day of trading
NEW YORK -- Investors gobbled up shares of Potbelly on Friday, and the sandwich chain's shares more than doubled in their debut on the Nasdaq.
The company's initial public offering was another win for food companies going public. Shares of Sprouts Farmers Market rose 123 percent in the natural and organic grocery's August IPO. Restaurant chain Noodles' stock more than doubled in its June debut.
Potbelly's stock rose $16.77, or 120 percent, to close at $30.77, after the IPO raised $105 million.
Potbelly began in 1977 as a small antique store in Chicago.
The original owner started offering sandwiches and homemade desserts to customers in an effort to boost sales.
As of September, the company had 288 sandwich shops in 18 states and the District of Columbia.
-- Associated Press