August 27, 2008

The Latest Business Headlines from WWJ Newsradio 950

Rock Drops Pistons Sponsorship | Quicken Loans' Rock Financial is reportedly pulling out as a Detroit Pistons major sponsor, according to Crain's Detroit Business. | Story

Auto Makers Seek Loans | They say they'll need more than the $25 billion in government-backed loans approved as part of last year's energy bill, Dow Jones reports for CNNMoney. | Story

Ford Invests In Plant | The automaker has announced that it plans to invest 75 million dollars in the Michigan Truck Plant in Wayne to prepare for small-car production. | Story

More Michigan Movie Making | An entertainment company has announced a three-phase plan to create motion picture sound stages and production facilities in three locations. | Story

Down Quarter For Borders | The Ann Arbor-based bookseller lost 9.2 million dollars, or 15 cents a share, for its fiscal second quarter that ended August second. | Story

Stocks Close Mixed | Energy shares fronted the market's limited gains, easing investors worries about the Federal Reserve possibly raising interest rates to curb inflation. | Story

This Week in 'Your People'

Michigan Companies Win Prestigious Workplace Flexibility Awards

Diversity in the Workplace: How to Stay on the Right Side of the Law

No Paid Vacation for Many U.S. Workers

How to Motivate Staff After Layoffs

Today's Worldwide Automotive Report podcast.

News from CNET

MICHIGAN COMPANIES WIN PRESTIGIOUS WORKPLACE FLEXIBILITY AWARDS

Michigan's economy may seem like a tough place to do business these days, but 12 Michigan companies and organizations have cracked the workplace flexibility code and are doing their part to keep jobs and employees in the state. For their efforts, they're also recent winners of the prestigious Alfred P. Sloan Awards for Business Excellence in Workplace Flexibility.

The program and awards help highlight the importance of workplace flexibility, said Michelle Hansel, vice president of human resources for the Detroit Regional Chamber. This year's award winners were recognized at an Aug. 14 ceremony at the MGM Grand Detroit Casino.

“I think it's a great way to showcase different companies in the southeast Michigan region that are doing great things—particularly in regard to flexibility,” she said. “We all hear about how all our graduating college students are leaving the nest and going elsewhere. But there are great opportunities in Michigan . . . There are great employers, from smaller employers to larger employers, and I think you see that in the mix of award winners.“ More...

Diversity in the Workplace: How to Stay on the Right Side of the Law

Only a few short years ago, most conversations about workplace diversity touched on an employee's race or gender. But with four generations in the workplace and an increasing number of businesses going global, the typical American office is turning into more of a patchwork every day.

In fact, based on recent U.S. Census Bureau information, the workplace will continue to grow more diverse in coming years. By 2042, it's projected that minorities will make up more than half of the U.S. population, and by 2050, they will represent 54 percent. But the shift will happen much sooner in the younger population: as early as 2023, more than half of all children in America will be minorities. More...

PROPOSAL: FOUR-DAY WORKWEEK FOR FEDERAL EMPLOYEES: House Majority Leader Steny H. Hoyer (D-Md) is proposing a four-day workweek for federal employees, says a recent Washington Post article. The lawmaker asked the Office of Personnel Management (OPM) last week to study the feasibility of the shortened workweek, and asked that the OPM advise him of any additional actions Congress would need to take to implement such a policy by the end of fiscal year 2008. In his letter to the OPM, Hoyer says that such a move would help employees with dependent-care responsibilities, help alleviate high commuting costs, and would help recruit and retain qualified workers. To read more, click here.

NO PAID VACATION FOR MANY U.S. WORKERS: There's no rest for many weary American workers, according to a recent Washington Post story. According to the Bureau of Labor Statistics, 25 percent of U.S. workers have no paid vacation time. And three in 10 employees at small companies (less than 100 workers) also do not receive paid time off. By contrast, only one in 10 workers at companies with 500 or more employees receive no paid vacation time. And based on the findings, more than one-third of service workers and three-quarters of those who work for elementary and secondary schools receive no paid vacation. To read more, click here.

STATE LAWMAKERS PUSHING LEGISLATION TO REQUIRE PAID SICK DAYS: An estimated 46 million U.S. workers do not have paid sick days, but lawmakers in 12 states, including California, West Virginia, Connecticut, and Minnesota, have proposed legislation in the past year that would require employers to provide them, says a recent Associated Press article. An advocacy group called Ohioans for Healthy Families also is pushing a November ballot initiative that would require employers in that state to provide paid sick days to workers. While most large companies offer paid sick days, state and federal mandates could require them to extend what they already offer to employees. Some business owners, however, say that such a benefit would be costly—especially given current economic conditions. To read more, click here.

WORKPLACE DEATHS DROPPED TO HISTORIC LOW IN 2007: Workplace fatalities dropped in 2007 to 5,488, the lowest number since the U.S. Bureau of Labor Statistics began tracking the data in 1992, says a recent Associated Press story. In 2006, there were 5,840 fatalities in the workplace. Some types of workplace fatalities increased. Workplace homicides, for example, increased 13 percent. People with the most dangerous jobs include fishers and related workers (with a rate of 111.8 fatal injuries per 100,000 workers), logging workers (86.4), aircraft pilots and flight engineers (66.7), and structural iron and steel workers (45.5). Construction continued to have the most deaths of any private sector industry, with 1,178 in 2007. To read more from the Associated Press article, click here. To read the government report, click here.

HOW TO MOTIVATE STAFF AFTER LAYOFFS: In this economic climate with all the layoffs and downsizings, it's even more important than ever to reassure and remotivate the employees who remain at your company, says a recent New York Times article. Companies that don't make this extra effort sometimes pay in the long run: without proper attention, remaining employees can be less productive or leave for other jobs. As a result, the intended short-term savings from a layoff can quickly vanish. Warren Bennis, professor of management at the University of Southern California, and the author of “On Becoming a Leader,” says that showing respect toward employees is key. Leaders who acknowledge employees' discomfort and help them understand the reasoning behind the layoffs have a better chance of rebuilding trust and motivating remaining staff. To read more, click here.

ECONOMIC DOWNTURN HITTING FEMALE EMPLOYEES HARD: Today's economic conditions are hurting everyone, but a recent study by the U.S. Congress Joint Economic Committee (JEC) shows that women are getting hit especially hard. Female workers have lost 298,000 jobs since December 2007, and unemployment for women rose from 4.1 percent in 2000 to 5.2 percent in July 2008. Based on the findings, wage growth for female workers also has stalled. As a result of the findings, JEC pointed to a greater need for workplace flexibility, including access to paid sick days, and establishing a nationwide family leave insurance program similar to those in California and New Jersey. It also recommended that Congress provide financial aid to states to maintain services since female-headed households are more likely to require government services. To read more about the report, visit JEC.

WORKPLACE BULLYING CASE MAY GIVE EMPLOYEES MORE AMMUNITION: A recent workplace bullying case before the Indiana Supreme Court may give employees more clout in the courtroom, says a recent Boston Business Journal story. In the case, a jury awarded a $325,000 judgment to a hospital technician who was bullied by a supervising surgeon. According to a survey by the Workplace Bullying Institute, about 37 million American workers, or roughly 54 million people, have been bullied in the workplace. The survey also found that 72 percent of bullies are bosses and that women are bullied more often than their male counterparts. Despite the prevalence of bullying in the workplace, however, only 3 percent of those who have been bullied at work file lawsuits. To read more, click here.

WORLDWIDE AUTOMOTIVE REPORT PODCAST: Ford makes big investment to convert truck plant to car production. Flint snags important engine plant. Why have crossovers cooled off?

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