General Motors announced Friday that it was restoring the salary cuts of many white-collar workers whose pay had been cut this year, in order to fight attrition.
“The automaker was losing staff members because its pay scales were no longer competitive with other automakers and manufacturing companies,” a spokesman told the Associate Press.
That’s good news for [...]
The Small Business Administration dragged an old trick out of the Carter Administration closet: SBA guarantees to cover floor-plan financing at care dealerships and others who sell expensive products.
Under the financing program, the SBA will offer government-backed loans to finance inventories at the locations and keep workers employed. The plan is to let dealers borrow [...]
A lot is made about how difficult it is to switch industries. After a long career, leaving the familiar for the unknown is frightening and it summons questions:
Will you have to learn new skills?
Will you need to make new connections and build a new network?
Will you need to start your career from scratch and take [...]
Chrysler and GM will shut down 1,900 dealerships nationwide by July, both automakers announced in letters to the affected businesses Thursday and Friday.
With those disappearing dealerships, more than 187,000 jobs could disappear, more than the number of people who work for the two car companies in the United States, the New York Times reported today. [...]
Ed Montgomery, the Obama administration’s newly appointed “Car Czar” christened his new post yesterday by announcing he would make helping displaced workers his priority in the next few weeks.
“My job is to cut the red tape,” Montgomery said in a press conference after his meetings in Lansing, Mich, with Michigan Gov. Jennifer M. Granholm (D) [...]