Afternoon Coffee: CPS Teachers on Strike, Chevy Loses Big on the Volt, HP Layoffs, Google vs. Amazon

STRIKE!
CPS teachers on strike -- Chicago's teachers union said it will strike Monday for the first time in 25 years after talks with Chicago Public Schools ended late Sunday night without resolution. "We have failed to reach an agreement that will prevent a labor strike," Chicago Teachers Union President Karen Lewis said. "No CTU members will be inside of our schools Monday." After an all-day negotiating session Sunday, school board President David Vitale told reporters the district had changed its proposal 20 times over the course of talks and didn't have much more to offer.

Low on fossil fuels, high on cost.
Stunner: GM May Be Losing $50,000 On Each Chevrolet Volt -- In an in-depth report, Reuters calculates that GM is losing as much as $49,000, and possibly more, onevery plug-in hybrid Volt that it sells. Reporters Bernie Woodall, Paul Lienert and Ben Klayman base the calculation on figures from automobile analysts, who've looked at the car's selling price versus what it costs to manufacture each Volt. Further, because GM has been offering cheap lease deals on the Volt, Reuters says, "There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce." Reuters breaks all this down in a fact box, which you can see here.

Cut cut cut.
H-P Adds to Planned Layoffs -- Hewlett-Packard Co. expects to lay off 2,000 more employees than previously detailed, bringing its head-count reduction to about 29,000 over the next two years, as the technology giant seeks to turn itself around. The Palo Alto, Calif., company in May disclosed plans to lay off 27,000 workers, or about 8% of its workforce. H-P disclosed the higher amount in a regulatory filing Monday. Accordingly, the company raised its expected restructuring costs to $3.7 billion through the end of fiscal 2014, up from its prior estimate of $3.5 billion.

Online retail fights...
Google Struggles to Unseat Amazon as the Web's Most Popular Mall -- Behind the scenes, the two companies are waging a war to become the pre-eminent online mall. And e-commerce sites large and small are caught in the cross-fire. As for consumers, the question is whether they will see a full range of products available online. Google is a search engine, not a store, but it is increasingly inching into e-commerce with products like its comparison-shopping service, Google Shopping. At the same time, more people are usingAmazon, a retailer, as a search engine to look for what they want to buy.

- Sheena Moore

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