July 14, 2008

The Latest Business Headlines from WWJ Newsradio 950

Dealers Dig Deep | Some car dealers are reaching deep into their own pockets to extend auto makers' already hefty incentives, The Wall Street Journal reports. | Story

Ford Cutting Globally | In addition to reducing its salaried work force in North America, Ford plans downsizings in other parts of the world, The Detroit News reports. | Story

Fannie-Freddie Backstop Plan | The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac. | Story

Chrysler Green With ENVI | The automaker's special division hopes to bring electric vehicles and advanced-propulsion technologies to market, the Detroit Free Press reports. | Story

Physician Networks Forming | Medical service organizations are creating high-performance physician networks in Southeast Michigan, Crain's Detroit Business reports. | Story

Fannie, Freddie Pressure Stocks | Stocks fell as the government stopped short of promising to rescue the backstops of the U.S. mortgage markets from a violent bear market. | Story

This Week in 'Your Company'

Planning for a disaster could keep your company afloat.

Gas prices make a four-day work week appealing to some.

Michigan billboard spat enters new chapter.

Gas prices and the Detroit Three.

Gas tax holiday unlikely.

Obama suggests business health care tax credit.

Ford sues the government.

Today's Worldwide Automotive Report podcast.

NOBODY EXPECTS A DISASTER, BUT PLANNING FOR ONE COULD KEEP YOU IN BUSINESS

According to the Tampa, Fla.-based Institute for Business & Home Safety (IBHS), at least a fourth of all businesses that close because of a disaster – such as a fire, flood, tornado or massive equipment failure – never open their doors again.

Those businesses that plan ahead for business disruptions have the best chance of being among the survivors. But, despite that, remarkably few make disaster planning a high priority, says Diana McClure, director of business protection and vice president of IBHS.

"Most businesses – and even more so for small and medium-sized businesses – have not done much emergency planning at all," McClure said. And in many cases, they don't even know where to start. More...

Soaring Gas Prices Have Some Considering a 4-Day Work Week

Alternative work arrangements, such as the four-day work week, were in vogue during the oil crisis and economic recession of the 1970s. With soaring oil and gas prices in the headlines these days, employers are taking another look at the idea.

Susan Ascher, president and CEO of Roseland, N.J.- Ascher Group and an expert on workplace and job market issues, says more than 27 million people already have flexible schedules, allowing them to vary the times they start and end work days. Employers are recognizing and accommodating the need for flexible work schedules for several reasons. More...

HIGH GAS PRICES AND THE DETROIT THREE: Will an eventual drop in gas prices bail out the U.S. automakers by raising the popularity of profitable trucks and SUVs? In an article posted on the Knowledge@Wharton Web site, Wharton School management professors John Paul MacDuffie and Mauro F. Guillen say the Detroit Three shouldn't count on it. If high gas prices are the new normal, then the question for the automakers becomes: How quickly can they react by adopting the new technologies that will keep them competitive? "The long-term challenge is to develop truly competitive hybrid or hydrogen cars. We need to make the investments now, so that they become available in 15 or 20 years," Guillen suggests. "In the short run, we need to incrementally improve fuel efficiency and help people switch to more efficient cars." To read the complete article, click here.

GAS TAX HOLIDAY UNLIKELY: If you’re hoping for a break in prices at the pump in the form of a federal gas-tax holiday this summer, you might want to give up on the idea. At least four state legislatures this session have considered enacting their own summer gas-tax holidays, but Michigan is not one of them. More...

OBAMA SUGGESTS HEALTH CARE CREDIT FOR SMALL BIZ: Barack Obama wants to promote health insurance coverage through small employers by offering them a tax credit covering up to 50 percent of their employee premiums. More...

EPA RESISTS GREENHOUSE-GAS REGULATION: The U.S. Environmental Protection Agency said on Friday that Congress, not the EPA, should regulate greenhouse gases, CNet.com reports. EPA Administrator Stephen L. Johnson hosted a conference call with reporters on Friday where he said that the existing law, the Clean Air Act, is "ill-suited" to addressing greenhouse gas emissions. Johnson said that Congress should draft legislation to address climate change. More...

FORD SUES GOVERNMENT IN TAX DISPUTE: Ford Motor Co. insists the federal government owes it hundreds of millions of dollars. The automaker last week filed a lawsuit in federal court in Detroit, claiming it deserves at least $445 million in accrued interest on nine years of tax overpayments. More...

SBA SHOULD CLEAN UP ACT ON SMALL BIZ CONTRACTING: A new study has found that small business contracts are still a cookie jar for Fortune 500 companies. In this struggling economy, the Small Business Administration needs to clean up its act once and for all, columnist Keith Girard writes. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: General Motors is said to be looking at offering new white collar buyouts. Continental AG is the target of a possible takeover attempt. Ford shows off its "Virtual Test Track."

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