Be INFORMED

Wednesday, January 14, 2009

News From the Automotive Industry...

   and I am making short notice of what has been coming out from the manufacturers today,

   First off, we start with Toyota, who is trying to encourage their managers to buy one of their cars as Toyota is facing their first operating loss in 70 years. This is also an attempt by the firm to boost morale.

    "This is not company policy and in no way mandatory, but more of a form of unofficial encouragement," Toyota spokeswoman Ririko Takeuchi told the Guardian.

  Next up, Chrysler, which Vice Chairman Tom LaSorda has said that the American manufacturer would not be selling off any of their individual brands but that they may be interested in...

       ...deals to sell off tooling for models going out of production, or even licensing production of current models.

        Meanwhile, some unhappy workers for the Big 3 where out protesting in the cold weather during the North American International Auto Show at Detroit's Cobo Center this past weekend.

So instead of cows, a couple hundred auto workers herded outside the Cobo Center in the frosty cold, protesting the concessions they'll likely be asked to make as Chrysler seeks more bailout money.

"My house is down by 37 percent. My 401(k) is down by 40 percent. Now they're telling me they're going to cut my wages by possibly 50 percent?" said Steve Waskul, 49 years old, who has worked in a Dodge truck plant for the past 12 years.

  A 50% wage cut? Do you know what the means to most of these workers in the process of paying on a mortgage or any other major bills? Bankruptcy !

   How does working for less when everything else is costing you and I more helping the economy?

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