Text Size:   A   A   A

Daily Dash - July 28, 2008



Daily Dash: Monday

July 28, 2008

The Latest Business Headlines from WWJ Newsradio 950

Pump Prices Lower | Gasoline is at a national average of $3.97 cents per gallon. Metro Detroit prices were as low as $3.72 in some locations this past weekend. | Story

DTW Cuts Not as Bad | Flight reductions at Metro Airport will be much less severe than those at many other large airports around the country, the Detroit Free Press reports. | Story

Foreclosures Up | One in every 137 Michigan households faced foreclosure during the second quarter, the nation's seventh-highest state foreclosure rate. | Story

GM/CAW Reach Deal | The Canadian Auto Workers union and General Motors Corp. have reached a settlement over the pending closure of a truck plant in Oshawa, Ontario, The Canadian Press reports. | Story | Related Podcast

OCC Warned | Continuing tension on the Oakland Community College board of trustees may threaten the school's bottom line, Crain's Detroit Business reports. | Story

Nudist Campground Expansion OK'd | Wexford County officials say a nudist campground can expand. | Story

Stocks See Modest Gains | The Dow Jones Industrial Average, which fell 283 points on Thursday, recouped 21 points Friday to end at 11,370, off 1.1 percent for the week. | Story

Stories marked with have a related podcast at WWJ.com.
Listen to WWJ Newsradio 950 live on the Web anytime

 



This Week in 'Your Company'

Why fighting back might be the best strategy in a crisis.

Rising household debt could be a drag on the economy.

How to choose a business name.

CNet: There is no quick fix for work-related stress.

Harvard professors talk about how to allocate marketing dollars.

Homeowner rescue plan awaits Bush signature.

Michigan worst for graduating black males.

Today's Worldwide Automotive Report podcast.

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

CRISIS MANAGEMENT: AUTHOR SAYS FIGHTING BACK OFTEN CAN BE THE BEST STRATEGY

A product mishap, allegations of impropriety or some other public relations disaster could devastate your business. When such a calamity hits, how you deal with it could mean life or death for your operation.

A lot has been written about how companies should respond in a crisis situation that rains bad publicity on the business and its top executives. And a lot of it is flat-out incorrect, according to communications consultant Eric Dezenhall, co-author of “Damage Control: Why Everything You Know About Crisis Management is Wrong.”

Dezenhall, CEO of Dezenhall Resources Ltd., based In Washington, D.C., says the conventional wisdom in the crisis management arena is dominated by tactics he refers to as “Mother Goose little chestnuts.” They include such as things as publicly taking responsibility right away, issuing an apology, and communicating with the public as quickly and openly as possible. More...

Report: Rising Debt, Lower Home Prices Threaten U.S. Economy

A large and growing number of American families are struggling with household debt – a dilemma that threatens the health of the U.S. economy.

A report from Moody's Economy.com says the condition of household credit will continue to weaken for the rest of this decade, with 5 million additional homeowners at significant risk of default during that time. Nearly half of the 10.5 million borrowers with subprime, alt-A or jumbo option-ARM mortgages have outstanding balances that exceed the value of their homes.
Economy.com says credit-card receivables are soaring at close to double-digit rates, as homeowners who can’t borrow against their homes are using the cards for cash. More...

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

AUTOMAKERS FIGHT LOSSES: Chrysler Financial will stop offering vehicle leases in the U.S. and General Motors Corp. will extend employee pricing, Dow Jones Marketwatch reports. More...

HOW TO CHOOSE A BUSINESS NAME: Once you start that business that will change the world (or your block), how do you go about giving it a name that will truly reflect the company and your products? On CBSNews.com, columnist Naomi Harker discusses factors to consider when naming your company and steps you should take to secure the perfect name once you find it. More...

WORK STRESS? YOU CAN FIX IT, BUT NOT EASILY: As the nature of our work changes, we've become a stressed out nation, according to CNet blogger Steve Tobak. And as with most problems, you can't fix it by popping a pill or reading the latest self-help book. "We're joining clubs and buying books in record numbers," he writes. "But we're still not getting any thinner or happier." So what does work? Tobak says getting to the solution starts with understanding that nobody has all the answers, there are no quick fixes and that "employing an intelligent, methodical approach" provides your best shot at achieving career happiness. More...

HOW TO ALLOCATE THOSE MARKETING DOLLARS: Marketers have more tools at their disposal than ever before – perhaps too many. Deciding how divide the budget between television, radio, the Internet, viral marketing and other options is a daunting task. In a recent article posted on the Web site HBS Working Knowledge, Harvard Business School professors Sunil Gupta and Tom Steenburgh discuss their framework designed to help allocate their resources wisely. More...

HIGH-IMPACT FIRMS BEST AT CREATING JOBS, SBA SAYS: High-impact firms – defined as those that have at least doubled their sales over a four-year period and have a high "employment growth quantifier" – account for almost all employment and revenue growth in the national economy, according to a study released by the U.S. Small Business Administration’s of Advocacy. More...

HOMEOWNER RESCUE AWAITS BUSH SIGNATURE: Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. More...

HOUSING BILL PODCAST: Sen. Debbie Stabenow is interviewed live on WWJ Newsradio 950 regarding a bill passed by the Senate on a rare weekend session aimed at helping homeowners avoid foreclosure.

MICHIGAN WORST FOR GRADUATING BLACK MALES: Michigan is the worst in the nation when it comes to graduating black male students from high school, and Detroit Public Schools has the second-lowest rate for big-city school districts, according to a national report. Michigan graduates 33 percent of black males compared with 74 percent of white males, according to a report issued Friday by the Schott Foundation for Public Education. Detroit Public Schools graduates 20 percent of black males and 17 percent of white males, according to the report "Given Half a Chance: The Schott 50 State Report on Public Education and Black Males." More...

RETAILERS EXPECTED TO RAISE PRICES: Coming to a store near you: Even higher prices. Most inflation this year has come from food and fuel, as retailers resisted passing along to strapped consumers the higher prices manufacturers charged them, but coming increases from companies such as Johnson & Johnson and Hasbro Inc. may leave them with no choice. More...

RICHEST AMEX CUSTOMERS SPENDING LESS: They may not be leaving home without it, but wealthy American Express cardholders seem to be keeping the credit card in their wallets and purses. American Express says its most affluent cardholders spent less on discretionary purchases in the second quarter of this year, which contributed to unexpectedly weak earnings. The company is warning that a deteriorating economy is choking off earnings growth. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: General Motors Corp cuts a deal with the Canadian Auto Workers union on Oshawa Truck Plant. Chrysler gets out of leasing. Kerkorian likes Ford's future plans.

BE OUR FRIEND ON FACEBOOK: The Daily Dash now has a profile page and a group on Facebook. If you have a Facebook account (or have been looking for a reason to set one up), we'd like to hear from you. To visit the Daily Dash profile, click here. To join the group, click here.


Editorial Staff:
The Daily Dash - Monday edition is written and edited by James Melton, Ed Coury, and Matt Roush

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

CBS Radio  

All contents copyright 2008 CBS Radio Inc. and its relevant subsidiaries. CBS Radio & Eye logo trademarked and copyright 2008 CBS Broadcasting Inc. Used under license. All Rights Reserved. Written and edited by Daily Dash Editor James Melton. For coverage comments or news tips, e-mail James Melton or call (248) 455-7248. For marketing and advertising queries, contact Dan Keelan or (248) 455-7252. To subscribe, e-mail Nancy Ho. For questions or concerns, please email Pete Kowalski, WWJ's Station Manager.

LEGAL NOTICE: This email may be considered an advertising or promotional message. If you no longer wish to receive commercial email from this station, please reply to this email by sending a reply email by clicking on the "reply" button at the top of this page or by sending an e-mail Nancy Ho. Or you can change your subscriber profile: «Reserved.Unsubscribe»

You must use this method to notify Daily Dash and WWJ of your opt-out request, as we cannot guarantee that other methods of notification will be effective. Please be aware that we may continue to contact you via email for administrative or informational purposes, including follow-up messages regarding contests you have entered or other transactions you have undertaken. By law, such messages are not considered to be commercial e-mail.


© MMVIII WWJ Radio, All Rights Reserved.