Feb 19 After Long Battle, Calif. Budget Heads to Governor By PBS News Hour The California Assembly approved the state's long-awaited budget, sending the package to Gov. Arnold Schwarzenegger after several all-night sessions and political concessions. Continue reading
Feb 18 GM, Chrysler Paint Dire Picture in Plea for More Federal Aid By Admin, PBS News Hour Nine weeks after automakers made their first plea to Congress for emergency aid, General Motors and Chrysler submitted new restructuring strategies and requests for additional federal funds that could bring the government's total tab to $39 billion. Continue reading
Jan 30 Are We Headed to a Shorter Work Week? Question/Comment: The Independent mentions that the United Kingdom might move to a three day work week. While some companies have resorted to this kind of solution, most have not. Would this kind of measure be of any help if… Continue reading
Jan 30 U.S. Economy Shrinks at Fastest Rate in 26 Years By Admin, PBS News Hour The U.S. economy shrank at its fastest rate in more than a quarter century between October and December, according to federal government data released Friday. Continue reading
Nov 24 Could You Explain How Deflation is Different From Companies Setting Prices to Reflect Input Costs and Efficiencies? Question/Comment: Dear Mr. Solman, I’ve read several articles recently discussing the risk of deflation. I think I understand broadly why deflation is bad for the economy in general. Could you explain how deflation is different from companies setting prices to… Continue reading
Nov 17 Citigroup Plans to Slash Another 50,000 Jobs By PBS News Hour Banking giant Citigroup Inc. announced Monday that it plans to trim approximately 50,000 more jobs as it struggles to steady itself after suffering massive losses from deteriorating debt. Continue reading
Nov 07 U.S. Unemployment Surges to 6.5 Percent in October By Admin, PBS News Hour Fueled by an economic downturn, the U.S. economy lost 240,000 jobs in October, the Labor Department said Friday. The numbers helped push the employment rate to 6.5 percent, its highest level in 14 years. Continue reading
Feb 14 Chrysler to Cut 13,000 Jobs in Restructuring Plan By PBS News Hour Plagued by poor sales and an unprofitable year, Chrysler Group, the U.S. division of German company DaimlerChrysler, announced a restructuring plan Wednesday that aims to cut 16 percent of its worldwide workforce by 2009. Continue reading
Sep 15 Watch Ford Cuts 10,000 Workers, Closes Two Factories In a round of new closings and layoffs, The Ford Motor Company announced Friday the elimination of 10,000 white-collar jobs and two more plant closings, up to 16 from previous cuts. Guests discuss the drastic efforts to save the automaker,… Continue watching
Sep 04 Watch Layoffs Cause Self Esteem Problems, Author Finds With the increase in outsourcing jobs to maintain a competitive edge in the global economy, Americans are facing more frequent layoffs at the workplace. This phenomenon is causing low self esteem and other psychological problems among people losing their jobs. Continue watching