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Tue April 26, 2011
In this morning's news...
State seeks concessions from unionized corrections workers
In these austere times, governments large and small are seeking to save money by getting union workers to reduce the benefits and/or wages.
The State of Michigan is seeking $95 million in concessions from those unionized employees who work in state prisons.
From the Associated Press:
The amount requested from the Michigan Corrections Organization represents more than half of the $180 million in concessions Gov. Rick Snyder wants from state employees in the budget year that starts Oct. 1, The Lansing State Journal reported Monday.
The union's members make up about 16 percent of the state's work force, but are being asked to make 53 percent of concessions. Michigan Corrections Organization executive director Mel Grieshaber criticized the state's actions.
"We are in sticker shock right now," he told the newspaper. "It's not fair. Our membership is angry about it. . . . It's very offensive. You won't find a more dangerous job in state government."
Kurt Weiss, A spokesman for the Office of the State Employer, the agency that oversees all collective bargaining negotiations for the state, said the Department of Corrections is the "only major state department in which employees are solely funded by the general fund," and Governor Snyder is trying to close a $1.4 billion dollar budget gap in the general fund.
Ford Motor Company has a solid first quarter
Ford announced is best first quarter earnings since 1998. According to the Detroit News, the first quarter earnings were...
$2.6 billion, or 61 cents per share.
The results, an increase of $466 million over the first quarter of 2010, far exceeded analysts' expectations of about 50 cents per share.
Operating profit of $2.8 billion was the strongest for a first-quarter since 2004 and $2.1 billion of that was from automotive operations as consumers continue to embrace the automaker's vehicles, which include new and fuel efficient models. Total revenue was $33.1 billion, up $5 billion from the same period in 2010.
"Our team delivered a great quarter, with solid growth and improvements in all regions," Chief Executive Alan Mulally said.
And unlike the gas price spike in 2008, Ford Motor Company and the other domestic automakers are much more prepared for the current price spike with more choices for smaller, fuel efficient cars...
Michigan's average gas price above $4 per gallon
It hasn't happened since 2008. That was the year gas prices shot up and consumers started looking for smaller cars. AAA Michigan says the statewide average for gasoline is $4.04.
From the Associated Press:
The auto club says Tuesday that prices for self-serve unleaded fuel rose 6 cents per gallon since Monday to a statewide average of $4.04. That's $1.20 per gallon higher than last year at this time. AAA Michigan says the last time the average hit $4 was Sept. 19, 2008, when it was $4.03 per gallon.
Dearborn-based AAA Michigan surveys 2,800 Michigan gas stations daily. It typically releases its gas prices report each Monday. But the auto club says it decided to put out a special edition of its gas prices report Tuesday because the average topped $4 a gallon.