Terminal Doesn't Remember Current Working Directory

In OpenSuse 10.3 (and 10.0, 10.1, 10.2) when I log out and leave my terminal window open the current working directory of that terminal was remembered. So when I log on again and I activate the terminal from the task bar, the terminal was still ion the same directory as it was when I logged off.

However in OpenSuse 11.0 beta2/3 (never tried beta 1) it always is reset to the home directory.
Is this a bug, or should I activate some setting, if so which one ?