GM issues two new recalls affecting nearly 30 million vehicles
General Motors announced two recalls in North America totaling about 30 million vehicles. The larger covers 2011–2015 Cadillac SRX and 2011–2012 Saab 9-4X SUVs for possible rear suspension nut issues risking toe link separation and crash. The other recalls 2013–2015 Chevrolet Spark hatchbacks over hood latch failure. dealers will replace the latch. GM also halted sales of 2014–2015 Chevrolet Colorado and GMC Canyon pickups until air bag repairs are made.
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Alan Adler
Wentzville
Autodata Corp
Jobs surge drives unemployment to six year low
U S employers added 248000 jobs in September and revised July and August gains higher, cutting the unemployment rate to 5.9 percent the lowest since July 2008. The Dow rose 209 points to 17010 on the data as Obama touts job creation. The report signals modest inflation and keeps Fed rate plans in view.
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Why wages lag as job growth surges in recovery
U.S. employers add jobs quickly while wages lag inflation. The 5.9 percent unemployment and a young workforce shift cap higher pay growth. retirements by baby boomers and cost-cutting by firms keep paydays subdued. Wages typically rise after the job market improves.
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Diane Swank
Mesirow Financial
Chase breach raises alarm over bank data safety
JPMorgan Chase disclosed a cyberattack on its servers affecting about 76 million households and 7 million small businesses. Names addresses phone numbers and email addresses were stolen though no account numbers or Social Security numbers were found. The breach began in June with intrusions identified in August and led to password resets for tech staff.
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