The Ticker

State Senate OKs minimum wage hike

The state Senate has approved a bill that would increase the state's minimum wage while also offering business-friendly changes in the state's unemployment insurance.

Yesterday's action by the Senate was largely an attempt by Democratic leaders to break a procedural logjam with the House and allow negotiations to begin over an increase in the $8 per hour minimum wage, which has not changed in the past five years.

The Senate bill would raise the wage to $11 per hour over three years and tie future increases to inflation.

A bill passed by the House would bring the hourly wage to $10.50 over three years, but without indexing hikes to inflation.

The Senate had previously approved both the minimum wage and unemployment insurance measures, but as separate bills.

Ford names Fields as new CEO

Ford Motor Co. yesterday made official what investors and analysts had been waiting for — Chief Executive Alan Mulally this summer will pass the baton of leadership to Chief Operating Officer Mark Fields six months earlier than expected.

The 68-year-old Mulally is credited with transforming the No. 2 U.S. automaker from a money-loser to a company that expects to realize a pretax profit of up to $8 billion this year after joining the company in 2006 from Boeing Co.

T-Mobile adds 2.4M 1Q customers

T-Mobile added 2.4 million customers during the first quarter, including 1.3 million postpaid and 465,000 pre-paid users — a new company record.

Those numbers bring T-Mobile to just around 
49.1 million total customers.

The company still managed to lose $151 million for the quarter, which is a bit of a reversal from the
$106 million in profit it announced at the same period last year.

Today

 Labor Department releases employment data for April.

 Commerce Department releases factory orders for March.

THE SHUFFLE

The Massachusetts Innovation & Technology Exchange (MITX), New England's leading digital marketing, media and Internet business nonprofit association, announced that Amy Quigley will be the organization's new president. Quigley has 20 years of experience and comes to MITX from Myelin Health in Boston where she was chief marketing officer.

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