U-M survey: U.S. economy expected to regain nearly 9M jobs (over the next two years)
Source: Detroit News
November 15, 2012 at 11:45 am
U-M survey: U.S. economy expected to regain nearly 9M jobs
By The Detroit News
Ann Arbor — Over the next two years, the U.S. economy will regain the rest of the nearly 9 million jobs lost in the Great Recession, according to an annual forecast by University of Michigan economists.
Employment fell by 8.8 million jobs during the 2008-09 economic downturn, but the economy has recovered 4.5 million jobs in the last three years, according to the survey released Thursday morning. By the end of 2014, another 4.3 million jobs will be added as the economy grows at a moderate pace with steadily falling unemployment, the economists said.
U-M economist Joan Crary and colleagues Daniil Manaenkov and Matthew Hall predict the creation of 2 million jobs in 2013 and another 2.3 million in 2014 as unemployment falls from 7.9 percent to 7.2 percent during that time.
Bevis, maybe BO can add 18,500 more slots for those Hostess workers displaced by a union. Twinkies will rise from the ashes in non-union states. Too bad about those four other companies that got screwed by the failed pension plan from Hostess. Unions sure do our workers a lot of good.
It wasn't the union that killed the Twinkie. It was vulture capitalism.
Before you go blaming the union for Hostess' demise, look at the facts.
In 1995 a company called International Bakeries, which was essentially a vulture capital arm of a computer company called Data Processing Financial and General Corporation, went on a massive spending spree. They not only bought Hostess but the San Francisco French Bread Company, John J. Nissen Baking Company, Drake's, My Bread Company, and tons of other companies.
They did this by borrowing like crazy and eventually defaulted on their loans, leading to bankruptcy in 2004.
In 2009 they emerged from bankruptcy by BORROWING MORE MONEY. They borrowed from Ripplewood Holdings, Silver Point, Monarch, and GE Capital. All these loans caused more payments and more interest accruing, leading to more and more debt. It was this debt that caused their collapse.
If it hadn't been for easy credit, merger mania, leveraged buyouts, and greedy conglomerates whose philosophy was "if you can't beat them buy them out," then all the little brands (including Hostess) that this group of predators bought with borrowed money might still be small and innovative enough to survive financial hard times with little or no debt of their own.
It wasn't the unions that killed the Twinkie, it was the modern vulture capitalist culture."
Chrysler to Spend $238 Million, Add 1,250 Jobs in Michigan
Chrysler to spend $238 million, add 1,250 jobs in Michigan
Thu Nov 15, 2012 12:00pm EST
(Reuters) - Chrysler Group LLC, the U.S. automaker majority owned by Fiat SpA, said on Thursday it will invest $238 million to boost engine and truck production in Michigan and add up to 1,250 jobs to meet new demand.
The company is spending $198 million to make its Pentastar V6 engine at the Mack I Engine Plant, which currently builds a larger engine for the Ram 1500 truck. Production will begin in early 2014 and Chrysler may add up to 250 jobs there, subject to market conditions.
The automaker is spending $40 million to install a flexible production line at its Trenton North plant, which can build both the V-6 engine and the Tigershark four-cylinder engine.
Bevis, another great source! Where do you find this #$@&? Bet most of these positions will be with the UAW. GM is certain to hire large numbers while losing market share. Fiat performance will certainly lead to large employment gains at Chrysler. Prolonged bathwater drinking obviously has an impact on intelligence. Hope they added a few million new slots for all those new positions created by raising taxes on the poeple who create employment. You are so stupid I know you can't make this stuff up!