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Current DateTime: 12:09:22 06 Jul 2009
LinksList Documentid: 30830730
Expiration DateTime: 7/6/2009 12:12:30 PM
    • Scrappage Scheme Helps New Car Registrations  12 hrs ago

        New car registrations fell nearly 16% in June, according to the Society of Motor Manufacturers & Traders. The decline was the slowest since July 2008. Paul Everitt, CEO of SMMT, and Guy Pigounakis from Hyundai Motors discuss the auto sector.

    • Mini Still Going 50 Years On  05 Jul 2009

        The first Mini rolled off the production line in Oxford, England 50 years ago Monday. Ian Robertson, board member at BMW, spoke to CNBC about the much-loved auto brand.

    • Downturn Boosts Aruba's Business  05 Jul 2009

        More and more people are working from home and travelling less through the use of video conferencing and secure data networks, says Dominic Orr, CEO of Aruba Networks. He sheds light on how the global downturn, technology and changing workplace trends have improved its business, with CNBC's Amanda Drury.

    • A Better Fit for Opel: BAIC or Magna?  05 Jul 2009

        Discussing the bidding race for Opel is Michael Dunne, VP of International Ops & MD of China at JD Power, speaking to Paul Schulte of Nomura International, and CNBC's Sri Jegarajah and Martin Soong. Dunne sheds light on the synergies through a deal with China's BAIC, and what Canada's Magna can offer to Opel.

    • Cyclicals Still Offer Value: Fund Manager  02 Jul 2009

        German stocks were lower Friday. Matthias Born from Allianz Global Investors sees value in "companies which are on historical low multiples," as he sees "re-rating potential left, especially for the cyclical part of the markets," like autos, chemicals and capital goods companies.

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Current DateTime: 12:09:22 06 Jul 2009
LinksList Documentid: 30830722
Behind The Wheel
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Nov.26
9:12 AM ET
Wednesday, 26 Nov 2008
In A Crippled Auto Industry, Reasons To Give Thanks

AP

In all my years as a reporter, I've seen and experienced many Thanksgivings that have touched me. From a family in Lincoln, Nebraska inviting me in to share their feast, to spending the turkey day enjoying a meal with firefighters in Wichita, Kansas. This year, however, I will spend the day with my family and think of workers at an auto supplier in Ohio.

Earlier this week I spent the day at a company as it told approximately 70 workers that some of them will soon be laid off. The reason was not surprising: Business has plunged (due to the auto business hitting the brakes) to the point where the company has no choice but to cut jobs. I've worked in news rooms when layoffs have been announced, and I've covered companies when they've cut thousands of jobs. Neither was easy, but not as rough as seeing the owner of this company tell workers some of them will soon be out of work.

This is not the only company in the auto industry going through this painful exercise. Nor will it be the last. There is a storm hitting this industry, and in the aftermath, many hard-working men and women will find themselves out of a job.

This is not about whether or not you think Congress should bail out the Big Three to keep the industry from collapsing. This is simply about giving thanks if you have a job.

From auto companies in the Midwest to Wall Street firms in New York, thousands of laid off workers will spend these holidays wondering where their next job will be. Blue collar or white collar, it doesn't matter. These people are hurting.

So this Thanksgiving, give thanks for all that you have. Give thanks for your family, your health, and yes for having your job.

_____________________________________
Click on Ticker to Track Corporate News:

- General Motors [GM  Loading...      ()   ]

- Ford Motor [F  Loading...      ()   ]

- Toyota Motor [TM  Loading...      ()   ]

- Nissan [NSANY  Loading...      ()   ]

- Honda Motor [HMC  Loading...      ()   ]

_____________________________________

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