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Boeing machinists OK contract tied to 777X PDF  | Print |  E-mail
Written by MANUEL VALDES, Associated Press   
Saturday, 04 January 2014 05:56

SEATTLE (AP) — The stakes were high and the vote was close as Boeing production workers agreed to concede some benefits in order to secure assembly of the new 777X airplane for the Puget Sound region.

Washington Gov. Jay Inslee and Boeing hailed Friday's vote, which proponents said solidifies the aerospace giant's presence in the Seattle area.

"Tonight, Washington state secured its future as the aerospace capital of the world," Inslee declared.

Under the terms of the eight-year contract extension, Boeing said the 777X and its composite wing will be built in the Puget Sound area by Boeing employees represented by the Machinists union.

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Will surge of older workers take jobs from young? PDF  | Print |  E-mail
Written by MATT SEDENSKY, Associated Press   
Friday, 03 January 2014 15:45
CHICAGO (AP) — It's an assertion that has been accepted as fact by droves of the unemployed: Older people remaining on the job later in life are stealing jobs from young people.

One problem, many economists say: It isn't supported by a wisp of fact.

"We all cannot believe that we have been fighting this theory for more than 150 years," said April Yanyuan Wu, a research economist at the Center for Retirement Research at Boston College, who co-authored a paper last year on the subject.

The commonly accepted vision of a surge of workers looks like this: A young post-doctoral student dreams of a full-time teaching job at their university, but there are no openings. An 80-something professor who has remained on the job long past what's considered "normal" retirement is blamed,

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Cubans aghast at car prices as new law kicks in PDF  | Print |  E-mail
Written by ANNE-MARIE GARCIA, Associated Press   
Saturday, 04 January 2014 05:54

HAVANA (AP) — Talk about sticker shock!

Cubans are eagerly flocking to Havana car dealerships as a new law takes effect eliminating a special permit requirement that has greatly restricted vehicle ownership in the country. To their dismay on Friday, the first day the law was in force, they found sharply hiked prices, some of them light years beyond all but the most well-heeled islanders.

A new Kia Rio hatchback that starts at $13,600 in the United States sells for $42,000 here, while a fresh-off-the-lot Peugeot 508 family car, the most luxurious of which lists for the equivalent of about $53,000 in the U.K., will set you back a cool $262,000.

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December auto sales falter; 2013 still best in six years PDF  | Print |  E-mail
Written by DEE-ANN DURBIN, AP Auto Writers TOM KRISHER, AP Auto Writers   
Friday, 03 January 2014 12:02

DETROIT (AP) — December U.S. auto sales slowed a bit from the brisk pace earlier this year, but automakers still were on target to finish 2013 with the best numbers in six years.

Chrysler managed a 6 percent gain for December, but General Motors, Toyota and Ford and Volkswagen each posted disappointing numbers. Still, most major automakers reported at least a 7 percent increase for 2013, and analysts expect full-year sales to be up around 8 percent to 15.6 million when all the numbers are in. That would be the highest sales figure since 16.1 million in 2007.

"The auto industry was a consistent bright spot in the economic recovery throughout 2013," Bill Fay, Toyota division group vice president, said Friday in a statement. "We expect the economy will continue to gain strength in 2014, with car sales rising to pre-recession levels."

But analysts say discounts rose in December, and there were signs that automakers were beginning to lower prices to match competitors and woo customers. That could mean better deals in the coming year, especially on pickup trucks and midsize cars.

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