The News Review:
- Ford Credit Will Cut 1200 Workers as US Auto Sales Slide
- Now is not the time to set higher auto emission standards
- GM Confirms ‘Jobs Bank’ To End Monday; Affects 1600 Workers
- GSA Auto Website Submitter 3.17 (Windows)
- Business gains offset somewhat by declines in auto paper
- Dealers hoping Auto Show will drive sales
- ttawa aids auto leasing but plan may fall short
Ford Credit Will Cut 1200 Workers as US Auto Sales Slide
Bloomberg
29 (Bloomberg) — Ford Motor Co. ?s finance unit willeliminate 20 percent of its workforce or about 1200 workersas part of a cost-cutting move as U. auto sales rate falls tothe lowest since 1982. ?This will help us keep our costs in line with ourreceivables and the lower industry sales overall? Ford MotorCredit spokeswoman Margaret Mellott said in an interviewyesterday. Ford Credit also needs fewer employees with the sale of theJaguar and Land Rover brands to Tata Motors Ltd.
Now is not the time to set higher auto emission standards
Royal ak Daily Tribune MI
auto industry needs time to recover from our economic recession. And consumers can't be expected to pay the estimated cost of $2000 to $10000 per vehicle to meet the new standards. It makes no sense to allow states to set their own fuel-efficiency standards. It's unreasonable to think the industry would even be capable of mass producing vehicles with varying requirements for individual states. Carried to its extreme that would mean automakers would have 50 different standards to meet depending on where the cars or trucks are to be sold.
GM Confirms ‘Jobs Bank’ To End Monday; Affects 1600 Workers
CNNMoney.com
Treasury Department beginning in thethird paragraph and updated stock prices. ) By Jeff Bennett f DW JNES NEWSWIRES DETRIT -(Dow Jones)- General Motors Corp. (GM) will suspend its “jobs bank”program Monday becoming the second of the Big Three U. auto makers toannounce such a move this week. About 1600 workers will now be classified as laid off and must apply forstate and federal unemployment benefits. Workers will receive some GM-subsidizedpayments along with their unemployment benefits which means they will continueto earn about 72% of their pay.
GSA Auto Website Submitter 3.17 (Windows)
ZDNet
17 (Windows) from GSA – Free Downloads on ZDNet | Shareware Trialware Evaluation Software. It will save you a lot of time and money since its fully automated. Promoting your web page has never been easier. You just enter some information about your web site and the program does the rest.
Business gains offset somewhat by declines in auto paper
Baltimore Sun United States
The gains were offset by declines in shipments of autos down 2 percent and paper down 4 percent. Container traffic remained flat. Appearing before a General Assembly committee this week James J. White executive director of the port presented a generally upbeat assessment of traffic on the docks last year even as he warned of potential downturns in late 2008 and early this year. While numbers are not final for 2008 officials said they expect to break the previous year’s records for the amount and dollar value of general cargo handled at the state’s public terminals.
Dealers hoping Auto Show will drive sales
Philadelphia Inquirer PA
29 2009 Dealers hoping Auto Show will drive sales By Al HaasFor The Inquirer The North American International Auto Show in Detroit is of course this country’s automotive show of shows the media extravaganza where carmakers love to unveil their new iron. But in these brutal economic times several manufacturers saved money by staying away from this month’s Detroit show heavy hitters such as Nissan Motor Co. It is significant that this will not be the case at the Philadelphia International Auto Show which opens its nine-day run at the Convention Center on Saturday.
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ttawa aids auto leasing but plan may fall short
Reuters
The Canadian government included a plan in its annualbudget on Tuesday under which it will buy securities backed byloans and leases on vehicles and equipment from banks and otherregulated financial institutions. The idea behind the Canadian Secured Credit Facility planis that auto leasing companies which have been battered by thethe credit crunch will use the funds to provide more leases. “The frozen credit market has really been a problem fororganizations who have their own captive finance companieslike the Chryslers and Fords of the world and others” saidMark A. Nantais president of the Canadian VehicleManufacturers’ Association. “The C$12 billion is certainly welcome. I suspect howeverthat the demand or the need is actually going to be muchhigher than that” said Nantais whose organization representsthe Canadian arms of Ford Motor Co (F.