One Day's News
Submitted By Todd on December 7th at 2:06am
into the Obama presidency.
David Cole, the head of the Center for Automotive Research, believes that a combination of recession and manufacturing problems will make a rapid turnaround impossible. 'I think we are looking at about 2012 until the market improves, and then another three years for the car makers to take advantage of it to return to profit and pay the government back,' he said.In Chicago, workers laid off without notice, and without paycheck, have occupied the factory.
Workers who got three days' notice that their factory was shutting its doors have occupied the building and say they won't go home without assurances they'll get severance and vacation pay. About 250 union workers occupied the Republic Windows and Doors plant in shifts Saturday while union leaders outside criticized a Wall Street bailout they say is leaving laborers behind.Reports say that the Rocky Mountain News may be shut down if a buyer sin't found fast, and The Miami Herald is reportedly for sale.
As with many other newspapers, decreased ad revenue and increasing debt have taken their toll on the chain, which owns 30 papers.The New York Times reports on the economy today, saying that the disastrous jobs report yesterday doesn't show just how bad things are.
Already, the share of men older than 20 with jobs was at its lowest point last month since 1983, and very close to the low point of the last 60 years. The share of women with jobs is lower than it was eight years ago, which never happened in previous decades.Times aren't good.