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 ECONOMY & FINANCE 

by In Wales (inwales aaat eurotrib.com) on Sat May 16th, 2009 at 06:30:05 AM EST
FT.com / Companies / Banks - Regulator expects bank chiefs to lose jobs

A US regulator on Friday predicted that chief executives and directors of some of the banks that underwent the stress tests could lose their jobs, in another sign of the government's desire to have a say in the running of bailed-out companies.

Sheila Bair, chairman of the Federal Deposit Insurance Corporation, said the authorities could replace management and boards at some of the 10 banks that were ordered to add fresh capital after the tests.

by In Wales (inwales aaat eurotrib.com) on Sat May 16th, 2009 at 06:42:20 AM EST
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BBC NEWS | England | Workers call for action on jobs

Thousands of workers from across the UK are set to take part in a protest march in Birmingham to call on the government to "halt the jobs crisis".

The demonstration, organised by the Unite union, is part of a campaign to press ministers to do more to help manufacturers weather the recession.

Unite chose to hold the rally in Birmingham as almost one-in-10 people in the West Midlands is now unemployed.

Former head of employers' group the CBI, Lord Jones, will be taking part.

He will be joined by workers from firms hit by the recession, including steel giant Corus and car companies Vauxhall and Jaguar Land Rover, which has plants in Gaydon in Warwickshire, Castle Bromwich, Coventry and Solihull in the West Midlands and Halewood in Merseyside.

by In Wales (inwales aaat eurotrib.com) on Sat May 16th, 2009 at 06:44:43 AM EST
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Irritatingly short sighted and narrow minded of the unions...  Gender imbalance in terms of support going to those who have lost jobs or face redundancy, trying to bail out a weakened manufacturing industry rather than looking for green economy alternatives. So frustrating.
by In Wales (inwales aaat eurotrib.com) on Sat May 16th, 2009 at 06:46:50 AM EST
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Exactly, but theirs is the world of where vision or planning are rude words. We're running back to the 60s and 70s where Labour ruined the industrial future by locking us into legacy industries and practices that the rest of the world abandoned

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun May 17th, 2009 at 03:17:00 PM EST
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The Age: Fiat auto workers rally in Turin

Fiat auto workers fearing factory shutdowns rallied on Saturday in Turin near the company's headquarters.

Thousands of workers marched from the Mirafiori factory in the northern Italian city to near the headquarters, where union leaders gave speeches.

Among the marchers were many who came from Fiat assembly lines in southern Italy.

Fiat is making a turnaround but many workers fear that the Italian automaker's deal with Chrysler and its efforts to make an accord involving Opel could cost them jobs.

by Sassafras on Sat May 16th, 2009 at 11:02:20 AM EST
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Guardian: Guatemala police arrest Twitter user for 'inciting financial panic'

Police in Guatemala have arrested a Twitter user and confiscated his computer for "inciting financial panic" after he urged people to remove funds from a state-owned bank.

Jean Anleu Fernandez, 37, was handcuffed, fingerprinted and jailed for posting the 96-character message on the micro-blogging site earlier this week. It is thought to be the first such case in central America.

by Sassafras on Sat May 16th, 2009 at 08:59:41 AM EST
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Telegraph: Europe in deepest recession since War as Germany suffers

German economic policy is "bankrupt", economists have said.

The declaration was made as it emerged that Europe's biggest economy has now suffered a worse "lost decade" than Japan and is deeper in recession than any other major economy.

On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.

[Torygraph Alert]

by Sassafras on Sat May 16th, 2009 at 09:41:44 AM EST
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thelocal.se: Swedish CEO 'lays himself off' rather than fire more workers

Mats Melbin had already let 25 employees go from Örnalp Unozon in January when he learned that an additional 35 employees would likely have to lose their jobs in order to cut costs.

The combined cuts would have cut the total number of employees at Örnalp Unozon in half.

But Melbin had had enough after the first round of job cuts, and opted instead to tender his own resignation, reports the Örnsköldsviks Allehanda newspaper.

"He advocated for a reduction in employees' working hours instead of giving them notice. He refused to fire any more people and carry out the decision of the parent company Vinovo," said the union steward to the newspaper

by Sassafras on Sat May 16th, 2009 at 11:48:18 AM EST
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Dilbert.com

They tried to assimilate me. They failed.
by THE Twank (yatta blah blah @ blah.com) on Sun May 17th, 2009 at 07:11:47 AM EST
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