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Category Archives: economy
Ford to Build New Edge in Canada with No jobs Added
The announcement comes after the Canadian Auto Workers Union accepted its first two-tier wage contract during the 2012 labor negotiations. For the first time at Ford Canada under a “New Hire Grow-In program” fledgling union workers who replace retiring CAW members will start at C$20.40, equal to 60% of the previous highest member $34 base rate, and then they only get full compensation after ten years. Continue reading
Posted in economy, manufacturing
Tagged autoinformed, autoinformed.com, canadian auto workers, Ken Zino
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U.S. Light Vehicle Sales to Soar in 2014 Says NADA
Employment, particularly in the construction, services industries, will improve this year, and a continued moderation in gasoline prices and improvements in the housing market will help to offset stagnation in wages and income in 2014. Continue reading
Posted in economy, new vehicle, sales
Tagged autoinformed, autoinformed.com, Ken Zino
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Treasury No Longer Owns GM Common Stock
Treasury in a statement said it recouped a total of $39 billion from the original GM investment. Taxpayers in 2009 gave GM $49.5 billion in loans ($50 billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Continue reading
Posted in economy, financial results
Tagged auto bailouts, autoinformed, autoinformed.com, Ken Zino, tarp
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Treasury Out of General Motors Stock by Year End
During 2009 when the Bush Administration’s Great Recession was in full force and worsening, the U.S. government via taxpayers gave GM $49.5 billion in loans ($50 billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Treasury has been selling the stock since late last year. A quick back of the envelope calculation at current market rates shows that taxpayers will ultimately lose ~$10 billion. Continue reading
Posted in economy, news analysis
Tagged autoinformed, autoinformed.com, Ken Zino, tarp, u.s. treasury
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U.S. Trade Deficit Soars as Washington Pols Do Nothing
This latest economic disaster came as the overfed, overpaid Washington ruling class bickered about how to pay for debts they already incurred. Simply put, even a Tea Party Republican can or at least should understand that once again, U.S. exports decreased and imports increased in yet another setback for the economy and the unemployed and underemployed. Continue reading
Posted in economy
Tagged autoinformed, autoinformed.com, Ken Zino, tea party, trade deficit, unemployment
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Toyota Motor Posts Huge Gains in Income and Profits
Toyota Motor Corporation today said it had net income of ¥1 trillion for the six-month period ending 30 September 2013. The huge increase from ¥548.2 billion in the same period the year earlier came with flat sales but TMC, the largest automaker in Japan and the world, benefited enormously from the manipulation of the yen by the Japanese government to keep it artificially weak. Continue reading
Posted in economy, financial results
Tagged autoinformed, autoinformed.com, Ken Zino, tmc
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Ford Motor October Sales Increase 14%
Ford Motor Company’s October U.S. total sales of 191,985 vehicles increased 14% compared to October 2012 that was severely depressed because of Hurricane Sandy. In an overall market that rose 8%, with extremely weak results for the first two weeks of the Republican-led government shutdown. Continue reading
Posted in economy, sales
Tagged autoinformed, autoinformed.com, ford October sales, Ken Zino, lincoln
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Global Vehicle Sales to Stall?
Global light vehicle sales could be slowing down, and if the recent trend continues, tens of millions of car sales would disappear from five-year global forecasts. Continue reading
Posted in economy
Tagged autoinformed, autoinformed.com, global vehicle sales forecast, Ken Zino, lmc, oxford economics
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Milestones: FDR and the Minimum Wage – Then and Now
On this day – 24 October 1938 – the federal minimum wage became law in the United States. President Franklin Roosevelt signed the Fair Labor Standards Act, aka FLSA, the previous summer that, among other things, created the concept now backed by legal reality that people should get a fair wage for a day’s work. Continue reading
Posted in AutoInformed Editorial, economy
Tagged autoinformed, autoinformed.com, Ken Zino, minimum wage
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September Unemployment National Scandal as Hiring Slows
September unemployment numbers finally released two weeks late show that a mere 148,000 jobs were added in September, keeping the unemployment rate officially above 7%. More than 11 million people who want to work are idled in an ongoing economic and social crisis. Continue reading
Posted in AutoInformed Editorial, economy, fools 'n frauds, news analysis
Tagged autoinformed.com, bls, Ken Zino, tea party
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Growing Chinese Trade Deficit Costs U.S. $37 Billion in Wages
The trade deficit with China cost the U.S. economy $37 billion in lost wages in 2011, a new Economic Policy Institute report finds. Continue reading
Posted in economy, manufacturing
Tagged autoinformed, autoinformed.com, china deficit, epi, Ken Zino
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Chrysler, Ford, GM Post Double Digit August Sales Gains
Chrysler, Ford and GM all recorded double digit gains in U.S. August sales as the market went back to the pre-Great Recession levels of 2007. Robust pickup truck sales, a relatively trouble free changeover to the production of 2014 models, cheap credit and strong retail demand, all were factors in an overall industry that is now running at more than 16 million units annually. Continue reading
Posted in economy, sales
Tagged autoinformed, autoinformed.com, chrysler, Ford, GM, Ken Zino, toyota, u.s. august sales
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Chrysler Group to Invest $52 Million in Michigan Engine Plants
Chrysler Group today announced that it would invest $52 million in its engine plants in Trenton and Dundee, Michigan, to increase capacity of the four-cylinder Tigershark engine, creating 298 new positions at the Trenton plant. Continue reading
Posted in auto news, economy, manufacturing
Tagged autoinformed, autoinformed.com, chrysler, dundee, Fiat, Ken Zino, trenton
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