plus 4, Ford plans to create about 1,000 jobs in SE Mich. - Tacoma News Tribune

Ford plans to create about 1,000 jobs in SE Mich. - Tacoma News Tribune
Dean McDermott’s Need for Speed Results in Injury - Ok Magazine
SIRIUS Canada Exceeds One Million Subscribers - CNW Group
Opportunity to think up north - Martinsville Reporter-Times
Loan delinquencies fall in 3Q - Fort Worth Business Press

Ford plans to create about 1,000 jobs in SE Mich. - Tacoma News Tribune

Posted: 11 Jan 2010 04:05 PM PST

Ford Motor Co. announced Monday it will invest another $450 million and create about 1,000 jobs as it further consolidates its electric vehicle program in southeast Michigan.

The new jobs are mostly tied to advanced lithium ion battery production, including some work shifted from Mexico to Michigan. It's welcome news in a state saddled with the nation's highest unemployment rate of 14.7 percent in November.

Ford also announced at the auto show in Detroit that it will build a next-generation hybrid vehicle and plug-in hybrid at Michigan Assembly Plant in Wayne starting in 2012. The new work comes in addition to the previously announced next generation of the Ford Focus, including an electric version, which will start production in 2010 and 2011 at the same factory.

Those projects combined could save more than 8,000 Ford jobs in southeast Michigan. Ford facilities in Wayne, Warren, Sterling Heights and possibly Rawsonville near Ypsilanti could get pieces of the new work, according to a memo outlining a tax incentive agreement approved by a state economic development board Monday.

Under the agreement, the new battery-related jobs would come with the help of a tax credit valued at up to $78 million over a multi-year period.

The other tax credit approved Monday by the Michigan Economic Growth Authority is to help save existing jobs. That tax credit is worth $110 million.

"This investment underscores how serious we are about delivering a range of electrified vehicles to customers - including hybrids, plug-in hybrids and pure electric vehicles," Bill Ford Jr., Ford's executive chairman, said in a statement.

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Dean McDermott’s Need for Speed Results in Injury - Ok Magazine

Posted: 11 Jan 2010 02:39 PM PST

Tori Spelling's husband Dean McDermott was living in the fast lane this weekend, telling reporters at the NBC Universal party at the Langham Hotel in Pasadena last night that he injured his arm. While sporting a cast on his left arm, Dean explained, "I crashed yesterday during a practice session. At turn three at Auto Club Speedway I came in a little fast and I tucked the front end, which means the front end lost grip, and I just slammed onto the pavement." Ouch!

"I've got a deeply bruised scapula and this bone that goes into my shoulder," Dean said. Despite the accident, however, Dean resumed racing the very next day. "I ran in three races today," Tori's husband confirmed on Sunday night.

Dean said Tori still lets him race because "It's so much safer to crash at the racetrack than it is on the street. She's totally cool [with it]. She understands the safety of crashing at the track versus crashing in the street. This is my third crash now and nothing's broken. My first crash was a 40 mile-an-hour crash; my second crash was 110 miles an hour and this crash was a 70 mile-an-hour crash."

The reality stars showed up at the NBC Universal party to promote the fifth season of the reality show that depicts their life as a married couple. Tori & Dean: Home Sweet Hollywood will premiere on Mondays this spring on Oxygen. During the new season, Tori and Dean embark on a wild ride in an RV (but hopefully not as fast as Dean drives on the track!). Tori told OK! "We did take a cross-country road trip in the beginning of this season."

Tori told reporters what fans can expect from her next book, which she's currently working on: "My book is stories of my life and everything that's happened so far — so it kind of just picks up where Mommywood left off and all the stories that happened in the past year," Tori said."It's kind of a catch- up and I've found that's what my fans like. They like my stories and the way I tell them whether they be humorous [or], emotional."

By Carole Glines

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SIRIUS Canada Exceeds One Million Subscribers - CNW Group

Posted: 11 Jan 2010 07:59 AM PST

Fastest growing audio entertainment company in Canada

TORONTO , Jan. 11 /CNW/ - SIRIUS Canada Inc., the country's leading audio entertainment company, today announced that it has exceeded one million paying subscribers across Canada . SIRIUS is the fastest growing audio entertainment company in Canada and one of the only subscription services in Canada to exceed the one million subscriber milestone after four years of operation.

"Exceeding one million subscribers is our most significant milestone to-date and we're proud to be the fastest growing audio entertainment company in Canada ," said Mark Redmond , president and CEO, SIRIUS Canada Inc. "Despite difficult economic conditions in 2009 and the slowdown in the automotive and retail industries, SIRIUS' subscriber growth has continued to be strong and has exceeded our expectations. Reaching one million subscribers in such a short time demonstrates the strength of SIRIUS' exclusive content, signal coverage and brand awareness."

Among Canadians, SIRIUS is the brand of choice both at retail and integrated in vehicles. According to The NPD Group, 8 out of 10 satellite radio shoppers selected SIRIUS at retail throughout 2009 (year-to-date) while SIRIUS' automotive partners make up 60 per cent of vehicle sales in Canada . SIRIUS is available in more than 150 vehicle models in Canada .

"Over the past four years we've built one of the top media companies in Canada by focusing on our customers and offering an exceptional entertainment experience with unique and exclusive content," said Redmond. "The best is yet to come and SIRIUS is well positioned for growth in 2010 and beyond. We'd like to thank SIRIUS' employees, our automotive and retail partners and our passionate customers for helping us achieve this important milestone."

SIRIUS Canada highlights

 - More than one million subscribers in Canada - 80 per cent retail market share in 2009 (year-to-date) according to market research firm The NPD Group - 94 per cent customer satisfaction - Integrated SIRIUS radios are available in more than 150 vehicle models in Canada - SIRIUS' automotive partners make up 60 per cent of vehicle sales in Canada. - First to launch a satellite radio app in Canada, compatible with the iPhone and iPod touch www.sirius.ca/oniphone - Wide variety of commercial-free music programming and the exclusive home of CBC's Hockey Night in Canada Radio, NFL and CFL play-by-play and Howard Stern

About SIRIUS Canada

SIRIUS is Canada's number one choice for satellite radio with 120 full-time channels broadcast from studios in Vancouver , Toronto , Montreal and New York. SIRIUS offers 100% commercial-free music plus premium sports, news, talk and entertainment programming from North America's most recognizable and respected personalities and brands. SIRIUS offers listeners unparalleled coast-to-coast signal coverage and digital quality sound broadcast from four high-orbit satellites.

SIRIUS is the Official Satellite Radio Partner of the CFL, NFL and NASCAR and broadcasts live play-by-play games of the CFL and NFL. SIRIUS is also the exclusive satellite radio home of CBC's Hockey Night in Canada Radio. In addition, SIRIUS broadcasts live NASCAR races, Barclays English Premier League and UEFA Champions League soccer.

SIRIUS products for the car, truck, home, RV and boat are available in more than 3,500 retail locations, including Best Buy, Canadian Tire, Centre Hi-Fi, Costco, Dumoulin, Future Shop, Home Hardware, London Drugs, Staples, The Source, Visions, Wal-Mart and 2001 Audio Video.

SIRIUS Canada's automotive partners include Aston Martin, Audi, Bentley, BMW, Chrysler, Dodge, Ford, Jaguar, Jeep, Land Rover, Lexus, Lincoln, Mazda, Mercedes Benz , MINI, Mitsubishi, Pana-Pacific, Subaru, Toyota, Volkswagen, Volvo and the Canadian Automobile Association (CAA). SIRIUS automotive partners make up nearly 60 per cent of light vehicle sales in Canada .

All SIRIUS programming is available for a monthly subscription fee of only $14.99 . To listen to SIRIUS live, or to purchase a SIRIUS radio and subscription visit www.sirius.ca.

For further information: Media Contact: Jeff Roman, SIRIUS Canada Inc., Tel: (416) 346-5157, Email: jroman@siriuscanada.ca

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Opportunity to think up north - Martinsville Reporter-Times

Posted: 11 Jan 2010 07:37 AM PST

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Loan delinquencies fall in 3Q - Fort Worth Business Press

Posted: 11 Jan 2010 02:36 AM PST

Some types of consumer loan delinquencies declined in the third quarter of 2009, a possible result of slowing job losses and banks writing off bad loans.

Loan delinquencies declined in seven of eight categories monitored by the American Bankers Association, including auto loans, RV loans, property loans and personal loans. The rates mark the first time since 2007 that so many categories experienced declines, according to the American Bankers Association's Consumer Credit Delinquency Bulletin. Various housing loan delinquencies, however, continued to rise.

The ABA's third quarter composite ratio fell 12 basis points to 3.23 percent of all accounts, compared to 3.35 percent of all accounts in the previous quarter, according to a release. The composite ratio is made up of eight closed-end loans including home equity loans, mobile home loans, direct auto loans, indirect auto loans, marine loans, personal loans, property improvement loans, and RV loans.

Bank card delinquencies fell 24 basis points to 4.77 percent of all accounts, according to a release. The ABA defines a delinquency as a late payment that is 30 or more days overdue.

The ABA's Chief Economist James Chessen said in a statement that the news was positive, but the weak economy and job losses continue to weigh on customers.

"Delinquencies may be near their peak as job losses have slowed," he said in a statement. "Consumers are working hard to get their financial houses in order by spending less, saving more, and paying down debt. But there's still a bumpy road ahead with many people unemployed and family budgets stretched to their limits."

Chessen also attributed the lower rates to banks writing off bad loans.

"Banks are putting losses behind them, setting the stage for expanded lending to consumers as the economy recovers," he said in a statement.

Auto loans also showed continued improvement, according to a release.

Direct auto loan delinquencies fell nearly half a point to 2.04 percent of all accounts, and indirect auto loan delinquencies – arranged through auto dealers – dropped to 3.15 percent of all accounts, compared to 3.26 percent in the previous quarter.

"It's always a good sign when delinquencies decline, but they're still relatively high," Chessen said in a statement. "Until the economy generates more jobs and the housing sector stabilities, they're likely to stay that way."

Housing-related loans continued to show stress, the Association said. Home equity loan delinquencies marked another record high, jumping 29 basis points to 4.30 percent of all accounts. Home equity lines of credit also hit a new record, rising 20 basis points to 2.12 percent of all accounts.

Mobile home delinquencies increased 3.63 percent from 3.53 percent in the previous quarter.

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