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Grant Thornton Identifies Key Bridge Requirements for the Domestic Auto Industry to Achieve Viability by 2010

added: 12-01-2009

Grant Thornton LLP's Corporate Advisory and Restructuring Services group said today that the restructuring plans of General Motors Corp., Chrysler LLC and Ford Motor Company, and government loans, have forestalled a collapse of the U.S. auto industry. But the full impact of the economic recession and the magnitude of the issues facing the industry will require more bridging actions by legislators and restructuring by automakers, suppliers and dealers to ensure viability.

Spherion Employee Confidence Index Drops 1.6 Points in December 2008

added: 12-01-2009

The Spherion Employee Confidence Index reached a new survey low in December, decreasing 1.6 points to 40.4. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals that more workers are concerned about the economy, job market, and in their ability to find a new job. In addition, fewer workers are likely to look for a new job in the next year, with 33 percent reporting a likelihood of doing so compared to 35 percent in November.

Monster Employment Index Registers Sharp Decline in December 2008

added: 12-01-2009

The Monster Employment Index declined 12 points in December, as economic uncertainty continued to weigh on U.S. online recruitment activity. Year-over-year, the Index is down 22 percent, largely steady from the previous two months, suggesting some stabilization in the rate of slowdown in the labor market following a rapid decline during the third and fourth quarters.

US Employment Situation in December 2008

added: 12-01-2009

Nonfarm payroll employment declined sharply in December, and the unemployment rate rose from 6.8 to 7.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported. Payroll employment fell by 524,000 over the month and by 1.9 million over the last 4 months of 2008. In December, job losses were large and widespread across most major industry sectors.

European Demand for Oil Must be Reduced by Over 50% by 2050

added: 12-01-2009

In an opinion requested by the Industry, Research and Energy (ITRE) Committee of the European Parliament, the EESC calls for a massive reduction of oil demand in Europe year by year over the next 40 years. The objective must be to reduce oil demand by more than 50% by 2050. the opinion is due for adoption on 14 January 2009.

Annual Inflation in OECD Area Falls to 2.3% in November 2008

added: 12-01-2009

Consumer prices in the OECD area rose by 2.3% in the year to November, compared with 3.7% in the year to October 2008. Month-on-month, prices fell 0.9% in November, after declining 0.3% in October.

Wind Energy Market at Forefront of Renewable Energy Initiatives

added: 12-01-2009

Harnessing America's renewable energy sources is a priority on President-elect Barack Obama's political agenda, and American businesses and consumers are poised to follow his lead to make the U.S. a greener, more energy responsible nation. During a campaign speech, Obama declared his intentions to wean American off its dependence on Middle Eastern oil by investing $15 billion a year in renewable energy to create 5 million new energy jobs over the next decade.

The Conference Board Leading Economic Index for Japan Decreased 2.6 Percent in November 2008

added: 12-01-2009

The Conference Board Leading Economic Index for Japan decreased 2.6 percent and The Conference Board Coincident Economic Index decreased 0.9 percent in November.

Fallout from Reckless Lending Continues as Foreclosures Outpace Efforts to Modify Home Loans

added: 12-01-2009

The subprime market for home loans has dried up for now, but the bad subprime loans made at the height of the mortgage bubble continue to damage neighborhoods and drown the economy in foreclosures. New information in a Center for Responsible Lending report provides a fresh, grim snapshot of the spreading negative effects of subprime mortgages that were aggressively marketed up until last year.

U.S. Bankruptcy Process Works, Weeds Out Weak

added: 12-01-2009

With high-profile company bankruptcies becoming distressingly common, many would be hard-pressed to find an upside.

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