A sad story about Toledo in Sunday’s Washington Post.
The article describes how the downturn in the economy is hitting white-collar workers- hard. (I should know, I’m one of them!)
“In this corner of Ohio, the workforce is contracting at an alarming speed, with unemployment climbing to rates more typical of counties in Appalachia,” the article states. “In March, unemployment in Toledo reached 12.6 percent, an increase of more than 50 percent over March 2008.”
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Today’s New York Times has a story on how the auto-industry downturn and layoffs have even impacted some of Detroit’s wealthiest suburbs.
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Could this bill help the auto industry?
It proposes to allow people to trade in their larger, gas-guzzling cars for vouchers for as much as $4,500 with the idea being they have to buy a new, more fuel-efficient vehicle, The Wall Street Journal reports. It is part of a broader climate-change bill.
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Check out this video and story by one of my favorite Detroit News writers, Charlie LeDuff.
He visited what was left of the Automotive Components Holdings plant in Ypsilanti, Mich., which made parts for Visteon and Ford.
LeDuff writes, “You can now watch the liquidation of the American Dream in real time.”
He continues, “Any given week, the guts of a whole factory are auctioned off. Its contents are sold piece by piece and taken away for scrap or antiques or resale to foreign companies. Men with blowtorches and trucks haul off tool-and-die …

But could the once-mighty behemoth General Motors really be heading for bankruptcy?
It seems more and more likely every day.
http://www.nytimes.com/2009/04/03/business/03motors.html?ref=global
GM’s new executive has already said it, and now its been stated in an offical regulatory filing to the Treasury, the Times reports.
What would this mean for plants, employees, and retirees?
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But could the once-mighty behemoth General Motors really be heading for bankruptcy?
It seems more and more likely every day.
http://www.nytimes.com/2009/04/03/business/03motors.html?ref=global
GM’s new executive has already said it, and now its been stated in an offical regulatory filing to the Treasury, the Times reports.
What would this mean for plants, employees, and retirees?
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