Daily Dash - May 6, 2008

Daily Dash: Tuesday

May 6, 2008

The Latest Business Headlines from WWJ Newsradio 950

Strike Sends GM Stock Lower | GM shares fell 3 percent after news of the strike by union workers at a Kansas assembly plant making the hot-selling Chevrolet Malibu, Reuters reports. | Story

Chrysler Chief on Job Cuts | Bob Nardelli said Monday the automaker should be able to meet its job-cutting goals without antagonizing the United Auto Workers. | Story

Microsoft's New Auto Deal | The software giant has signed a worldwide deal with Hyundai and Kia for voice command technology for personal music players and telephones. | Story

Detroit Food Prices Soar | In addition to soaring gasoline prices, the worst food inflation since 1990 is also taking a bigger bite out of our wallets, The Detroit News reports. | Story

Kilpatrick's Office Reacts to Report | Detroit Mayor Kwame Kilpatrick's office is calling a report by City Council Attorney Bill Goodman nothing more than a witch hunt. | Story

Oil, Yahoo Send Stocks Lower | Wall Street pulled back Monday after Microsoft withdrew its bid for Yahoo and oil prices briefly rose above $120 a barrel to a new record. | Story

Stories marked with have a related podcast at WWJ.com.
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This Week in 'Your Career'

Survey: Wireless devices are not stressing people out.

Companies that seek new grads will hire more in 2008.

Job candidates lower salary expectations.

Monster: Online job availability has improved.

Rich/poor gap getting bigger.

GM workers on strike.

Today's Worldwide Automotive Report podcast.

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WIDESPREAD USE OF WIRELESS DEVICES NOT CREATING ANXIETY, SURVEY FINDS

Does being “too connected” to your boss, colleagues, spouse and others stress you out? Or is your wireless device your lifeline?

A recent survey finds that, for many people, the electronic leash is actually comforting and being out of touch is what really makes them crazy. But with all the convenience the wireless world brings, it also creates etiquette issues.

According to the Yahoo! HotJobs annual virtual workplace survey, 37 percent of employees feel more relaxed than stressed when they are connected to work by a wireless device. Another 42 percent of those surveyed are altogether indifferent to their wireless devices, feeling neither relaxed nor stressed by them. More...


Be Polite While Staying Connected
Moderation is key to keeping peace in the digitally connected world. Tom Musbach, managing editor of Yahoo! HotJobs, offers tips from for keeping your wireless device habits within the bounds of politeness. Click here.

Companies That Seek New Grads Will Hire More of Them This Year

Companies that look for recent college grads are hiring a lot of them this year,WWJ Newsradio 950 and Fox 2 News reporter Murray Feldman says. The top companies for hiring new college graduates will increase their hiring by 11 percent this year.

Some Job Candidates Asking for Lower Salaries, Survey Finds

Many job seekers – including in-demand technology specialists – must accept new positions at lower salaries than they did just a month ago, according to findings in the Jobfox Top 25 Most Wanted U.S. Job Candidates rankings for May. In some of the highest-demand professions, employers saw median salary ranges requested by candidates dip $10,000, compared with those requested a month ago. More...

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ONLINE JOB AVAILABILITY IMPROVES: The Monster Employment Index added seven points in April, as online job availability in the U.S. continued to rise moderately for the third consecutive month. Despite the gradual upward trend during the past three months, the Index remains down 6 percent year-over-year, but its growth rate was slightly improved from the year-over-year reading in March. More...

RICH/POOR INCOME GAP WIDENING TO CHASM: There have always been "haves" and "have-nots" in the United States, but over the past three decades, the gap between them has gotten a lot wider, statistics from congressional numbers crunchers show. According to the non-partisan Congressional Budget Office, income for the bottom half of American households rose six percent since 1979 but, through 2005, the income of the top one percent skyrocketed by 228 percent. And, the impact of the growing disparity on the "have-nots," and even on small businesspeople, is being felt more and more, correspondent Benno Schmidt reported in The Early Show's "Early Wake-Up Call" Saturday on CBS Television. More...

GM WORKERS GO ON STRIKE: Members of a United Auto Workers union local went on strike Monday at General Motors' Fairfax facility hitting the plant that makes GM's popular Chevrolet Malibu sedan. During talks over the weekend, UAW Local 31 set a Monday morning strike deadline because union negotiators believed the two sides remained far from an agreement. The Fairfax plant employs more than 2,500 UAW members. The Malibu, a medium-sized sedan, was named "Car of the Year" at this year's North American International Auto Show in Detroit. More...

CREDIT UNIONS NEED RED TAPE RELIEF: While the nation's credit crunch may have begun on Wall Street, it's definitely found its way to Main Street. But for countless small businesses feeling the squeeze, another Main Street institution could be the answer to their financing woes – federal credit unions, columnist Keith Girard writes. The problem with that, he says, is that such credit unions are still hamstrung by federal red tape that sharply curbs their ability to make business loans. Meanwhile, the commercial banking industry continues to wage an unrelenting lobbying campaign in Washington to keep credit unions bottled up. More...

THE FUTURE OF TRANSPORTATION: Join WWJ Newsradio 950 for a business breakfast titled The Future Of Transportation In Southeast Michigan. The event will take place May 15 at the Anderson Theatre at The Henry Ford in Dearborn. The two-panel conference will discuss Detroit's future in moving freight and moving people. For more information, click here.

WORLDWIDE AUTOMOTIVE REPORT PODCAST: In a new promotion, Chrysler guarantees the price of gasoline. General Motors has new strike headache. Auto execs are set to meet with California's governor.

CAW LOOKS TO GM: The Canadian Auto Workers president says General Motors Corp. must add new products at its Ontario plants. The CAW and GM begin talks this week. Buzz Hargrove said the talks will begin on Thursday, following successful negotiations that took place with Ford Canada last week. The CAW will also hold an initial meeting with Chrysler Tuesday. More...

MICHIGAN MINORITY PROCUREMENT CONFERENCE: WWJ Newsradio 950 is a sponsor the 27th Annual Michigan Minority Procurement Conference and Trade Fair, to be held May 12-14 at Cobo Center in Detroit. The theme for this year's event is: “The Economic Turning Point Starts with Minority Business." The conference will provide opportunities for networking, training, leadership development and relationship building designed to position minority businesses for growth and sustainability. For more information and to register online, click here.


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

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