The Bottom Line
General Motors said that 19,000 hourly workers, or 24 percent of its unionized U.S. workforce, accepted buyouts and will leave in the next month. That’s triple the rate of buyouts . . .
General Motors said that 19,000 hourly workers, or 24 percent of its unionized U.S. workforce, accepted buyouts and will leave in the next month. That’s triple the rate of buyouts accepted in a similar deal at Ford.The New York Times
High gas prices are buoying mass transit. Ridership on public transportation from January through March increased 3 percent nationwide, to 2.6 billion rides. Ridership on South Florida’s rail system was up 13 percent during the quarter.USA Today
The International Air Transport Association estimates that airlines worldwide could collectively report a loss of $2.3 billion this year. That estimate was based on $107-a-barrel oil. At $135 a barrel, the loss could be $6.1 billion.Marketwatch.com
With food prices up sharply, Spam is enjoying a comeback. Sales of the much-mocked canned “meat” are up 9 percent since the first of the year, says corporate parent Hormel.Associated Press
With housing prices nationwide down 14.1 percent so far this year, even wealthy homeowners are feeling the pinch. Foreclosures in prosperous Greensboro, N.C., are up 23 percent, and local bankruptcy lawyers are fielding distress calls from “paper millionaires” sinking under investment properties they bought when times were flush.The New York Times