According to an article in the Star-Telegram, the United Auto Workers struck a deal with General Motors and the federal government to cut labor costs, close factories and change the way retiree healthcare is funded. This deal has eased one of GM's biggest concerns, the cost of labor, as it struggles to avoid bankruptcy. The [...]
According to an article in the Dallas Morning News, Hewlett-Packard (HP) announced more job losses this week. Over 6,400 HP workers will experience job losses this year. That's 2 percent of HP's global staff. But they won't be the only HP workers experiencing job losses as the computer company shrinks to meet sagging demand. The [...]
According to an article in the Dallas Morning News, the City of Dallas is facing a $100 million budget deficit that may cause them to cut services to close the gap. The article said: The first round of proposed cuts has put the jobs of nearly 350 city employees at risk and placed everything from [...]
According to an article in the Star-Telegram, over 129,000 Tarrant County homeowners will see their property taxes go up. This is quite surprising given the high number of foreclosures hitting Texas, especially the Dallas-Fort Worth area. Slightly less than half of homes assessed for taxes (128,000) experienced a drop in their home's value. Most of [...]
According to an article in the Star-Telegram, state tax collections nationwide have plummeted by a collective $20 billion. The article said: A report released Wednesday shows that average tax revenue dropped more than 12 percent in 45 of 47 states that reported data. Texas was in the middle with a 7.6 percent decline in sales [...]
According to an article in the Dallas Morning News, the number of new loans issued for commercial properties plunged 70 percent in the first quarter of 2009 compared to the same time period in 2008. The article said: "In the first quarter of 2009 we saw the effects of the continued recession coupled with little [...]
According to an article in the Dallas Morning News, Medicare is facing huge deficits and its hospital trust fund may run out of money within eight years. The article said: One point that Richard Fisher made in our ed board meeting with him yesterday was that the country can't afford to ignore its Medicare liability. [...]
As the number of job losses and foreclosures rise, the population of homeless people is reaching record numbers. That's why, according to an article in the Dallas Morning News, Texas' eight largest cities are trying to convince the state legislators to invest $25 million a year on housing and services (such as mental healthcare) for [...]
According to an article in the Star-Telegram, General Motors is already moving forward to close 1,200 car dealerships nationwide and some of those may include dealerships located in Dallas-Fort Worth. The article said: GM has 15 individual dealership locations in Tarrant County, including the three Saturn of DFW stores. There are six Chevrolet outlets, as [...]
According to an article in the Dallas Morning News, General Motors officially announced that it will temporarily close 13 assembly plants in the U.S. and Mexico. GM workers at the Arlington, Texas plant will also suffer a temporary closure with over 2,000 workers facing furloughs. The article said: General Motors Corp. said Thursday that it [...]