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AUTOMAKERS NEWS * USA
* Michigan - Ford to hire 800 more salaried workers
Dearborn,MICH,USA -The Detroit News, by Karl Henkel -June 10, 2013: -- Ford Motor Co. plans to add 800 white-collar U.S. workers during the next six months, bringing its total number of salaried hires this year to 3,000, the automaker confirmed Monday... The new jobs — primarily in engineering, information technology, product development and manufacturing — will be in addition to the 2,200 new salaried jobs Ford announced earlier in the year. The Dearborn automaker will also hire workers in purchasing, finance and other areas... With demand for new cars and trucks poised to top 15 million light vehicles in the United States this year, domestic auto and parts factories are running at nearly maximum capacity for the number of workers on hand. Industry analysts predict that carmakers will expand both their workforces and facilities. Already, Detroit’s Big Three have all announced additions of thousands of hourly workers set for this year...
* DC - House passes bill to exempt automakers, other firms from some financial rules
Washington,DC,USA -The Detroit News, by David Shepardson -June 12, 2013: -- The U.S. House on Wednesday overwhelmingly approved a bill to exempt automakers and other users of financial hedging from Wall Street regulations approved in 2010... The bill is designed to correct a drafting error in the Dodd-Frank Wall Street Reform act... The Business Risk Mitigation and Price Stabilization Act of 2013 exempts Michigan manufacturing and agricultural producers from undue financial regulation, he said. Companies that use derivatives to hedge their exposure to fluctuating costs of energy, raw materials, and business expenses "should not be subject to the same regulation actually intended to corral Wall Street greed" ... The bill -- if passed by the Senate -- would mean that the companies using the instruments wouldn't have to meet certain margin requirements to use the instruments. The law is aimed at preventing Wall Street speculators from driving up the costs of commodities using derivatives. Without the bill, the rules could boost the amount of cash companies needed to put up or prevent the use of the instruments...
Labels: automakers news USA and Canada
posted by Unknown @ 10:06 AM
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