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In brief

Career Fair today

The Fall Career Fair sponsored by The Times Leader and Monster.com will be held 10 a.m.-6 p.m. today, at the 109th Field Artillery Armory, Market Street, Wilkes-Barre. Twenty-eight employers in a wide range of businesses will be on hand to describe job opportunities and accept applications. Some will conduct on-the-spot interviews. There is no admission charge and job seekers are advised to bring a supply of resume copies.

Older worker champs

Nominations are being accepted for the 24th Annual Pennsylvania “Hall of Fame of Champions of Older Workers.” The awards recognize state employers who have made significant efforts to hire older workers and increase employment opportunities for people 55 and older.

One large employer (100 or more employees) and one small employer (fewer than 100 employees) will be selected as winners. Nominations must be received by Dec. 5; forms can be obtained at any Area Agencies on Aging office or at www.aging.state.pa.us.

GM bond rating cut

Fitch Ratings says General Motors Corp.’s credit rating is moving deeper into junk status because of the automaker’s diminishing liquidity and lack of access to capital.

The credit ratings agency said Monday that it cut GM’s issuer default rating one notch to “CCC” from “B-.” Both ratings are non-investment, or junk, grade.

Fitch says it expects GM to reach “minimum required levels” of capital in the next 12 months without access to external capital. It says the automaker’s situation is exacerbated by weakening overseas sales and the impact of the credit crisis.

Gap adds online brand

Clothing retailer Gap Inc. announced late Monday that it is buying Athleta Inc., a women’s sports and active apparel company, for about $150 million in cash, as part of its strategy to diversify its brand offerings.

The company says its acquisition of Athleta, which sells its merchandise primarily online and through its catalog, will enhance its presence in the growing $31 billion women’s active apparel sector in the U.S.

After the purchase, Athleta is expected to eventually become the fifth brand in Gap’s online portfolio, which includes its namesake brand, Old Navy, Banana Republic and online shoe retailer Piperlime.

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