September 2, 2008

The Latest Business Headlines from WWJ Newsradio 950

August Auto Sales | GM and Chrysler probably led a drop in sales, as new buyer incentives failed to stem an industry slide that began in December, Bloomberg reports. | Story

GM Eyeing India | A General Motors executive says the company is considering a plan to make India a hub for manufacturing small cars, according to a Dow Jones report posted at CNN.com. | Story

Higher Baggage Fees | Northwest Airlines and other carriers start charging Thursday for checked baggage on all domestic flights, the Detroit Free Press reports. | Story

Politics and Gambling | Some of the biggest names in the gambling world are betting on the futures of John Conyers and Carolyn Cheeks Kilpatrick, The Detroit News reports. | Story

Judge to Rule on Removal Hearing | A Wayne County Circuit Judge is expected to rule today on Gov. Jennifer Granholm's hearing to remove Detroit Mayor Kwame Kilpatrick from office. | Story

Gustav Weakens | Hurricane Gustav didn't barrel ashore in the U.S. as the devastating terror everyone feared, CBS reports. | Story

Stocks Close Lower | The major indexes gave up their gains for the week on Friday. All 30 Dow components fell on worries about Dell, Gustav, and the economy. | Story

This Week in 'Your Career'

Employers, job seekers having trouble matching up.

Workplace injuries common, research finds.

More people working well past retirement age.

Education link to employment highlighted in new data.

Scorecard finds workers worse off than in the past.

Big employers protect their gay employees, study finds.

Today's Worldwide Automotive Report podcast.

News from CNET

AS AMERICANS SEEK WORK, EMPLOYERS FIND MISMATCH BETWEEN JOBS, AVAILABLE PEOPLE

At a time when many Americans say they are having trouble finding a job, employers say they are having a lot of trouble finding workers qualified for the jobs they have to offer.

According to a report by Robert Half International and CareerBuilder.com, employees rated the level of challenge in finding a job at 3.56 on a one-to-five sliding scale; similarly, employers rated the level of challenge in finding qualified candidates at 3.47.

The shortage of qualified workers has grown more acute. Fifty-nine percent of hiring managers cite it as their primary recruiting challenge, up from 52 percent in 2007. Sixty percent of employers surveyed said at least a quarter of the applicants who contact them are not qualified for the jobs offered. Thirty-one percent report more than half of applicants are not qualified. More...

Feldman Report: Workplace Injuries Common, Report Says

More than a quarter of American adults say they have been injured on the job, according to Murray Feldman, business editor for WWJ Newsradio 950 and Fox 2 News. Others might find that it's their plans for a cozy retirement that have been harmed. Many baby boomers don't have a retirement account, or have 401(k)-type accounts that they don't know how to manage.

Laboring Longer Before Retirement a Growing American Trend

Americans are changing the game plan for retirement. Millions now work well past the traditional retirement age. The average retirement age remains 63. But that standard may soon be going the way of the gold watch. More...

EDUCATION, EMPLOYMENT LINKED, REPORT SAYS: Michigan workers without a high school diploma have an unemployment rate at least four times higher than workers with a college degree, according to a new report. The report comes as Michigan deals with its highest level of unemployment in more than 15 years. The state's jobless rate in July was 8.5 percent, the highest since late 1992. Michigan has had the nation's highest average annual unemployment rate since 2006. The unemployment rate for Michigan residents without high school diplomas hit 20 percent in 2007, according to the Michigan League for Human Services report. The jobless rate for those with a bachelor's degree or higher was less than 5 percent. More...

WORKERS WORSE OFF, LABOR SCORECARD SHOWS: This Labor Day found workers in worse shape than they've been in years, according to a scorecard released Monday by Rutgers University. In its first national labor scorecard, the Rutgers School of Management and Labor Relations said more than 10 percent of Americans are unemployed, discouraged from seeking work or underemployed. That is a nearly 25-percent increase from one year earlier. More...

MOST FORTUNE 500 PROTECT GAY WORKERS, SURVEY SAYS: The vast majority of Fortune 500 companies – 94.2 percent – voluntarily include sexual orientation in their employment nondiscrimination policies, according to a study by the Equality Forum, a gay, lesbian, bisexual and transgender civil rights organization. More...

WALL STREET AWAITS AUGUST JOBS DATA: All the data that Wall Street has seen lately seems to be pointing to a dual economy, one in which businesses are generally faring better than consumers. And reports coming out this week will indicate whether that trend is continuing. Evidence of this divergent economy keeps building as the average consumer is suffering, but business spending, particularly abroad, appears to be keeping the U.S. economy from sinking severely, even as the financial sector continues to struggle. More...

PROTECT YOUR BUSINESS CREDIT IN A DISASTER: With losses from hurricanes, earthquakes, wildfires, floods and tornadoes rising, it is important for any small business owner to consider what is needed to re-build the business as quickly as possible after a disaster. At CBSNews.com, columnist Lynette DeNike provides tips on how to protect your small business if calamity strikes. More...

OBAMA SEEKS LABOR VOTES IN DETROIT: Thousands jammed a riverfront gathering place Monday for what they expected would be a raucous Labor Day campaign rally for Barack Obama. But the Democratic presidential candidate was in more of a somber mood, urging supporters to pray for those affected by Hurricane Gustav and to donate to the Red Cross and other relief efforts. The late-morning event was designed to give the Illinois senator a chance to appeal to blue-collar workers who could be crucial to his chances of winning Michigan and the White House. More...

GOP CONVENTION TURNS TO APPEAL FOR HURRICANE AID: Republicans hurried to turn the opening day of their national convention into a fundraising drive for hurricane victims, with presidential candidate John McCain's wife and first lady Laura Bush appealing for Gulf Coast help. McCain visited a disaster relief center in Ohio. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: WWJ Newsradio 950's Jeff Gilbert talks one-on-one with Ralph Gilles, Chrysler's new design chief. Hurricane Gustav has no impact on gas prices. General Motors goes after those cheating on employee discounts.

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