The News Review:
- Auto workers K Canada labor pact
- Mich-based Auto Supplier’s Pension Plan Seized By PBGC
- More auto insurers are going to the dogs
- Congress calling for “do-over” on auto bailouts
- FACTBX: Why does the auto industry matter?
Auto workers K Canada labor pact
Boston Globe
- Canadian Auto Workers union members have voted in favor of a new labor agreement with General Motors Corp. ratifying a deal that cuts pay for new hires with 86 percent of the vote.
Related from Aviationmonster: EU Canada reach deal on aviation pact
Mich-based Auto Supplier’s Pension Plan Seized By PBGC
Wall Street Journal
–>Mich-based Auto Supplier’s Pension Plan Seized By PBGC ArticleCommentsmore in. Pension Benefit Guaranty Corp. will take over an underfunded pension plan of a Michigan-based auto parts makers.
More auto insurers are going to the dogs
USA Today
The border collie and boxer are always strapped in tight says Lonnie lson 55 of St. Still lson says when she heard that the auto insurance policies offered by Progressive now include coverage for pets injured in vehicle crashes she decided to move her business to the company. “Any company that supported animals like that I wanted to support” she says. “I just hope I never have to use it.
Congress calling for “do-over” on auto bailouts
Examiner.com
My question: Don’t they watch TV?Meanwhile John Conyers the head of the House Judiciary Committee held hearings last week to suggest that the administration and the auto companies have treated consumers and minority dealers unfairly. What’s fair about bankruptcy? According to a report in the. I can’t stop laughing – don’t they read the newspapers?For those of us with short memories Congress punted on the bailouts last November.
FACTBX: Why does the auto industry matter?
Reuters
The automotive industry worldwide has been hit hard by an unprecedented sales crisis sparked by the global economic slowdown. Below are some key facts about the industry its major markets and significance for the global economy. * Auto manufacturing has a global turnover of around $2. 6 trillion more than the GDP of France but less than that of China Germany Japan or the United States. * The auto sector contributes 3-4 percent of the total gross domestic product (GDP) of the United States and over 6 percent of EU-15 GDP according to consultancy Frost & Sullivan. * Around 9 million jobs worldwide or over 5 percent of the world’s manufacturing workforce are directly linked to making vehicles and parts. Each direct auto job supports at least another 5 jobs indirectly with many more people employed in related service and manufacturing jobs meaning more than 50 million people earn their livings from the industry.