Daily Dash - September 9, 2008

September 9, 2008

The Latest Business Headlines from WWJ Newsradio 950

Smith Terminal Goes Hollywood? | The dated structure at Detroit Metropolitan Airport could become a set for movies and TV shows featuring airport scenes, The Detroit News reports. | Story

Obama in Michigan | The Democratic presidential nominee says Gov. Granholm has the right idea in seeking to focus on the high-tech transportation of the future. | Story

Mulally on Loans | Ford CEO Alan Mulally seems enthusiastic about prospects for the government making low-interest loans available to automakers, the Detroit Free Press reports. | Story

Ricardo Starts Hybrid Group | The Van Buren Township-based firm has created a business group dedicated to developing hybrid technologies, Crain's Detroit Business reports. | Story

GM Recall | General Motors will recall about 300,000 Chevrolet HHR sport utility vehicles to fix a storage bin door that failed to remain closed during government testing. | Story

Council Weighs Special Election | The Detroit City Council Tuesday is expected to call for a special election that could limit Ken Cockrel Jr.'s time in the mayor's job. | Story

Stocks Rise on News | The government's seizure of Fannie Mae and Freddie Mac boosted nearly all issues Monday, except the two government sponsored enterprises themselves | Story

This Week in 'Your Career'

Your health insurance is likely to cost more in 2009.

More teen workers suing their summer employers.

Almost half of workers live paycheck to paycheck.

Tech jobs proving to be safer than most in tough economy.

Hiring in region, state expected to be slow in fourth quarter.

Friedman to talk in Ypsilanti about green revolution.

How the takeover of the mortgage giants could affect you.

News from CNET

SURVEY: HEALTH COVERAGE FROM YOUR EMPLOYER IS LIKELY TO COST MORE IN 2009

If you get health insurance through your employer, chances are very good that you will be paying more for it in 2009, a survey of employers shows.

According to preliminary research results released last week by the consulting, outsourcing and financial services firm Mercer LLC, 59 percent of employers taking action to reduce their 2009 cost increase will raise deductibles, co-payments, co-insurance or employee out-of-pocket spending limits.

That continues a trend that has been consistent for several years. According to Mercer, the median family deductible for in-network services in a PPO – the type of health plan offered by the most employers – rose to $1,500 in 2007, up from $1,000 in 2003. At least partly because of the increase in cost-sharing in recent years, annual health benefit cost increases slowed to about 6 percent in 2005 – down from double-digit rates for the three years prior to that – and have stayed there ever since. More...

Feldman Report: More Teens are Suing Their Summer Employers

The summer job season leaves behind a lineup of autumn lawsuits, according to Murray Feldman, business editor for WWJ Newsradio 950 and Fox 2 News. A growing number of teenage workers are filing sexual harassment claims against supervisors and managers from their summer jobs. One reason: Thanks to the Internet, young people today are more aware of their rights in the workplace than in the past.

Almost Half of Workers Admit to Living Paycheck to Paycheck

Workers are stretching their paychecks more than ever, a recent survey by CareerBuilder.com finds. Among those polled, 47 percent say they always or usually live paycheck to paycheck, up from 43 percent last year. More...

TECH FIRMS FARE BETTER THAN MOST IN TOUGH ECONOMY: Technology appears to be one of the least hard-hit sectors in an economy beset by unemployment at a five-year high. The Labor Department reported Friday that companies slashed their payrolls by 84,000 jobs last month, sending the country's unemployment rate to 6.1 percent from 5.7 percent in July. Automakers and housing-related manufacturers were among those losing the most jobs during the month, while education, health and government saw job gains. But unlike in 2001, when a bust in the technology sector – accompanied by massive layoffs – played a central role in sparking a recession, this time around the industry is more insulated. More...

HIRING IN REGION, STATE TO BE SLOW, MANPOWER FINDS: Hiring in the Detroit region and Michigan overall is expected to be sluggish in the fourth quarter, according to the latest Manpower Employment Outlook Survey. For the southeast Michigan region as whole, Manpower reports, 9 percent of employers surveyed plan to add to their payrolls in the fourth quarter of 2008, while 60 percent plan to keep payrolls the same. Twenty-two percent said they plan to decrease payrolls, while 9 percent were not sure. That created a net employment outlook of -13 percent for the region as a whole. More...

IN YPSI, FRIEDMAN TO FOCUS ON GREEN REVOLUTION: Could your next job be in a "green" business? Three-time Pulitzer Prize winner and New York Times columnist Thomas Friedman will offer the keynote at a day-long event Sept. 17 focused on making green power the next great global industry. The event, bringing together and recognizing Michigan's leading alternative energy companies, features remarks by University of Michigan President Mary Sue Coleman and Michigan State University President Lou Anna Simon, in addition to Friedman. The University Research Corridor will also make available a new report offering a break-out on Michigan's opportunities for developing green technologies. For more, from the Great Lakes IT Report, click here.

IMPACT ON YOU OF MORTGAGE GIANTS' TAKEOVER: With Washington taking over mortgage goliaths Fannie Mae and Freddie Mac, many current and would-be homeowners are wondering what effect the move is likely to have on them. On CBS Television's "The Early Show" Monday, Treasury Secretary Henry Paulson told co-anchor Harry Smith the government had no choice but to act, saying, "A failure by either one of these companies would cause great havoc in the economic system. It would be a big blow to the average American. (It would) affect their budget, their ability to get a consumer loan, a car loan." For more, from CBS News.com, click here.

MICHIGAN HAS 2 OF MOST AFFORDABLE HOUSING MARKETS: A new study suggests when it comes to getting the most out of their home-buying dollar, the West Coast has nothing on homeowners in the Midwest. More...

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