The News Review:
- AUTS: Lear seeks K for bonuses
- Lawmakers seek tax exemptions for Fremont’s NUMMI auto plant
- $25M to help ex-auto workers find health jobs
- Bajaj Auto Profit Rises 67%
AUTS: Lear seeks K for bonuses
Detroit Free Press
com | Detroit Free Press. is asking a bankruptcy judge to allow the company to award up to $20. 6 million in bonuses to 29 executives if the company can meet certain thresholds.
Lawmakers seek tax exemptions for Fremont’s NUMMI auto plant
San Jose Mercury News
The cost in tax revenue could be $20 million or more but that would be far cheaper than allowing the New United Motor Manufacturing Inc. plant to close which would be followed by the ripple effect of lost jobs throughout the state lawmakers said Thursday at a Capitol news conference. “We can no longer afford to lose even a single job here” said Assemblyman Alberto Torrico D-Fremont who introduced ABX4 31 a bill that would establish a sales and use tax exemption for machinery and equipment. General Motors recently announced it is pulling out of its joint venture with Toyota as part of GM’s restructuring plan with the federal government.
$25M to help ex-auto workers find health jobs
Detroit Free Press
No other details were immediately available as to how the training and placement grants would be doled out and how much if any would be headed to programs in Michigan. It’s a fair assumption however that Michigan would be in the mix. It’s lost hundreds of thousands of auto jobs in the downturn; its unemployment rate of 15. 2% in June was the highest in the nation; and it is in great need of registered nurses to handle an aging population. This spring state officials estimated Michigan would need to find an additonal 17500 registered nurses over the next several years. Said Montgomery: “These grants help those workers who have been displaced learn new skills in these high growth and emerging industries and get support in finding where these new jobs are.
Related from Auctionsmonster: Gateway Auto Auction to close leave 100 without jobs
Bajaj Auto Profit Rises 67%
Wall Street Journal
–>Bajaj Auto Profit Jumps 67% ArticleCommentsmore in. India’s second-biggest motorcycle maker by sales Thursday beat market estimates with a 67% rise in first quarter net profit despite a decline in vehicle sales. The news lifted the auto maker’s shares nearly 11% to a 52-week high of 1212. 15 rupees during intra-day trading on the Bombay Stock Exchange. At 0725 GMT its shares were trading 6.