Wednesday, April 17, 2002

Greenspan: Strength of Rebound Unclear "Federal Reserve Chairman Alan Greenspan on Wednesday said the strength of the current U.S. economic recovery was not yet clear and warned a lasting rise in energy prices could have 'far-reaching' consequences. The Fed chief praised the economy's resilience in the face of some difficulties. 'But the strength of the economic expansion that is underway remains to be clarified . . . '" 8:11:59 AM  Google It!  comment  []

Auto-parts maker Delphi plans to cut 6,100 jobs "Delphi Corp., North America's largest auto-parts maker, announced Wednesday that it planned to cut another 6,100 jobs, or 3 percent of its work force. The cuts came as the former General Motors Corp. subsidiary announced it sharply reduced its losses in the first quarter and said it was starting to see results from earlier cost cuts. 'It's not exactly a boom here, but it looks like we've seen the bottom here and are coming out,' chief financial officer Alan Dawes said." "Delphi announced last year that it would eliminate 11,000 jobs as part of a restructuring effort. Including the cuts announced Wednesday, the Troy- based company said from 2001 through the first quarter of 2003, it expects to eliminate 17,540 jobs in all - about 9 percent of its worldwide work force of 195,000." 8:09:45 AM  Google It!  comment  []