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Workers at auto parts maker Delphi Corp. will be asked this week to take a two-thirds pay cut. It's one of the most drastic wage concessions ever sought from unionized employees.
Workers at General Motors Corp., meanwhile, tentatively agreed on Monday to absorb billions of dollars in healthcare costs. Ford Motor Co. and DaimlerChrysler employees are certain to face similar demands.
37 percent of those surveyed have manufacturing operations in China, and another 5 percent plan to begin manufacturing there within the next 12 to 18 months. Of this 42 percent, 85 percent say that manufacturing in China will be important to the profitable growth of their company over the next three to five years
This November, Congress will vote on a proposal to cut federal financial aid by anywhere from $9 billon to $17 billion, which would be the largest cut in the history of federal student aid programs.
If the Republican-supported bill [H.R. 609] passes, typical student borrowers might have to pay $5,800 more than the existing average education debt of $17,500.
The cuts would mostly impact low-income students nationwide who already fall short by $3,800 each year when paying for college with financial aid, according to a memorandum by Rep. George Miller (D-Calif.), the senior Democratic member of the House Education and the Workforce Committee who is leading the fight against H.R. 609.
As Congress looks to cut up to $50 billion in spending, education and student groups are complaining that college financial aid will take the biggest hit.
House Republican leaders have ordered the committee that oversees federal student aid to find more cuts than any other committee: about $18 billion. Yesterday, the House Education and Workforce Committee approved a Republican proposal designed to cut spending on student aid by $14.5 billion in the next five years.
The College Board's annual survey on trends in college pricing indicates that while rates of tuition increase have lessened since skyrocketing in the past two years, they continue to surpass inflation.
At the 3,000 four-year public universities surveyed, average tuition in 2005-2006 rose to $5,491, an increase of $365, or 7.1 percent. Private universities rose to $21,235, up $1,190 (5.9 percent).
While these rates are certainly less than the ten and 13 percent increases seen in recent years, they remain a burden to students who are strapped for funding their educations. When room and board, books, supplies, fees and other expenses are taken into account, students at public institutions in their own states are now averaging costs of $15,556, while their counterparts at private institutions are facing sums averaging $31,016.
oh, they've been addressing it!! haven't they been saying to the effect that those workers should be retrained for the better jobs of tomorrow? Cutting the financial aide kind of impedes that endeavor