Publication: Manufacturing & Technology News
Date: Sunday, March 11 2007

The U.S. automotive industry has announced the layoff of almost 90,000 workers so far this year, and this year’s total could top the 110,000 announced layoffs made last year, according to Challenger Gray & Christmas. “Suppliers may be the next source for major workforce reductions as they adjust to the new reality of smaller American automakers,” says the outplacement firm. “Plant closings by Ford and General Motors will also ripple through the economy possibly resulting in job cuts throughout a variety of industries as communities struggle with higher unemployment.”

Last year at this time about 83,000 layoffs had been announced in the automotive sector. This year’s job cut announcements of 87,000 already exceeds the total number of layoff announcements made in 2004 (77,174) and 2003 (74,506). The highest number of layoff announcements made over the past 10 years in the auto sector occurred in 2001 at 133,686.

The housing implosion continues. But you can still unload your home or pick up a bargain

By Luke Mullins.

US News & World Report

Posted February 6, 2009
So, where the heck is this bottom? The question is stealing sleep from weary homeowners who have watched home prices plummet 21 percent from their 2006 peaks, evaporating more than $2 trillion in wealth last year. Meanwhile, government officials, who witnessed the U.S. housing market’s collapse tip the global financial system into chaos, are scratching their heads for answers. Yet the numbers keep heading south. How much more pain can this market dish out? Continue reading