October 1, 2008

The Latest Business Headlines from WWJ Newsradio 950

Senate Schedules Bailout Vote | Senate leaders have scheduled a vote for today on the Wall Street rescue plan rejected by the House. Legislation will include a tax cut package and a boost in federal deposit insurance limits. | Story | Related Story | Video

Candidates: Boost Deposit Insurance | John McCain and Barack Obama proposed that the government insure consumers' bank deposits up to $250,000. | Story | Related Story

Most Asian Markets Recover | Most Asian markets bounced back Wednesday on hopes that a $700 billion bailout for the U.S. financial system will soon win legislative approval. | Story

GM Suspends Employee Stock Purchases | General Motors Corp. said Tuesday it has suspended employee stock purchases through two 401(k) programs because workers have bought all the available shares. | Story

Book Cadillac Opening Delayed | The owner and developer of the historic building blames the monumental amount of detail work needed to complete the hotel restoration. | Story

Dow Gains 485 | Stocks bounced back Tuesday after the biggest sell-off in years, but the credit markets, where businesses turn to raise money, showed no sign of relief. | Story | Related Story

This Week in 'Your People'

Beaumont recognized as a top employer for those over 50.

Bush signs ADA expansion bill.

Mental health parity legislation closer to being passed.

Watson Wyatt cites open enrollment trends to watch.

Many managers find coaching too time-consuming.

Employee retention a high priority in the slow economy.

Today's Worldwide Automotive Report podcast.

News from CNET.

BEAUMONT WINS AARP BEST PLACES TO WORK AWARD FOR WORKERS OVER 50

Flexible work schedules, tuition reimbursement, concierge services for employees, a comprehensive health and wellness program, and backup care services for employees who care for young children and elderly parents are just a few of the perks Beaumont Hospitals offers its employees. These programs also are among the reasons why the Royal Oak-based employer continues to land on AARP's Best Employers for Workers Over 50 list year after year.

Beaumont Hospitals landed 19th on the list of 50 employers nationwide this year, and was the only Michigan employer to make the list. While the hospital did not apply last year, it won a spot on the list for the three years prior to 2007.

"We were just thrilled to death to be on the 50 list again," said Carol Holth (pictured), manager of strategic projects in Beaumont's HR department.

The AARP awards employers with forward-thinking practices that help meet the needs of older workers. Employers who apply for the award are evaluated based on several criteria, including: recruiting practices; workplace accommodations; alternative work arrangements; opportunities for training, education, and career development; employee health and pension benefits; and retiree work opportunities. More...

Bush Signs Bill to Expand Protections in ADA

With his father looking on, President Bush on Thursday signed legislation expanding the protections afforded by the landmark Americans with Disabilities Act to those who can use medication or other devices to treat impairments. The original law was enacted in 1990, when George H.W. Bush, the current president's father, was in office. The act is widely regarded as one of the major features of civil rights legislation in the 20th century because it ensures that the disabled have access to public buildings and accommodations, thus giving them better access to the workforce. More...

Mental Health Parity Legislation Closer to Passage

Congress passed legislation last week that would mandate parity for mental health care benefits, moving the measure closer to final passage, Business Insurance reported. The House version of the bill is a stand-alone measure, while the Senate version includes the parity mandate as part of a larger energy and tax extender bill. To read more, click here.

OPEN ENROLLMENT TRENDS TO WATCH: For most companies, open enrollment is right around the corner, and employees once again will face some important health care benefit decisions. And this year, consulting firm Watson Wyatt says that employers likely will offer options with an increased focus on improving personal health habits and more access to new health services and programs. Among the trends to watch: An increasing number of companies will be offering financial incentives to employees who participate in wellness programs or who maintain healthy habits. More...

MANY MANAGERS SAY COACHING IS TOO TIME-CONSUMING: Coaching may make good business sense, but one in three supervisors says that coaching employees is too time-consuming, says a recent study by New Jersey-based global consultant BlessingWhite. According to the study, “The Coaching Conundrum 2009,” 32 percent of respondents said that coaching is their biggest challenge. The survey included responses from 710 managers and 2,000 employees and evaluated the prevalence and effectiveness of coaching. More...

EMPLOYEE RETENTION A HIGHER PRIORITY IN A SLOW ECONOMY: In this economy, companies are even more concerned than usual about retaining their top talent, says a recent survey. More...

GM CUTS CONTRACT JOBS: General Motors continues to shrink its U.S. workforce. The company has notified several employment agencies that it intends to cut contract jobs to match lower U.S. sales. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: General Motors cuts more contract jobs. Many factors are depressing auto sales. How safe is your child's booster seat?

ZAPPOS OFFERS MONEY-BACK GUARANTEE TO NEW HIRES: Zappos, the Henderson, Nev., e-tailer that prides itself on red-carpet customer service and quick shipping, also extends its generosity to employees – even if they've just been hired, according to BusinessWeek columnist Keith McFarland. New hires are placed in a four-week training program, but after one week, the company offers to pay new recruits for the time they've worked, plus a $2,000 bonus. Apparently 2 to 3 percent take the offer – the rest stay. The policy may not make sense at first glance, but according to McFarland, it says a lot about Zappos as a company. It is one thing to tell employees that Zappos culture is the company's brand. But it's another thing entirely to cash out new hires who aren't a cultural fit. To read more, click here.

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