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White House Assures Automakers Help Is On The Way

Posted: 12/16/2008 - Detroit automakers, teetering on the brink of collapse, are receiving strong signals from the White House that short-term help is on the way while a key senator says the relief package could reach $15 billion for GM and Chrysler.

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Fund Manager In Scandal Once Boasted About Profits

Posted: 12/16/2008 - The money manager accused of duping investors in one of Wall Street's biggest Ponzi schemes once boasted to the Securities and Exchange Commission about how much money he earned and formally advised the U.S. government on ways to protect investors from scam artists.

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Fed To Rule Soon On Sweeping Credit Card Changes

Posted: 12/14/2008 - Credit card companies could no longer boost interest rates on existing account balances if the Federal Reserve adopts new rules as written at a meeting set for Thursday.

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Retail Sales And Prices Fall Again

Posted: 12/13/2008 - Signs that the recession will be long and severe mounted Friday with a fresh round of bad economic news, including plunging sales from manufacturers to stores and falling prices that raise fears of dangerous deflation.

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White House Promises Last-Ditch Auto Rescue

Updated: 12/13/2008 - With Congress gridlocked, the Bush administration declared it would step in to prevent the "precipitous collapse" of the U.S. auto industry and the loss of hundreds of thousands of jobs sure to follow.

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World Markets Drop On Rejection Of US Auto Bailout

Posted: 12/12/2008 - World stock markets plunged Friday after a proposed U.S. government rescue of Detroit's ailing automakers collapsed in the Senate, intensifying fears about a protracted global slump.

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Dollar Falls To 13-Year Low Against Yen

Posted: 12/12/2008 - The dollar plunged to a 13-year low against the yen Friday, following the collapse of a $14 billion government bailout for U.S. automakers

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$14 Billion Auto Bailout Dies In Senate

Posted: 12/12/2008 - A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

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Gas Drops Below $1.50 A Gallon!

Updated: 12/11/2008 - The the first time in some five years the price of gasoline has dipped below $1.50 a gallon here in Eastern Carolina.

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In Tough Times More Students Feed On Free Lunches

Posted: 12/11/2008 - There is such a thing as a free lunch. And school districts across the country report that kids are eating many more of them as the flailing economy hits families hard.

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Murky Future For Auto Rescue Amid GOP Opposition

Posted: 12/11/2008 - A House-passed bill to speed $14 billion in loans to Detroit's automakers stands on shaky ground in a bailout-weary Congress, undermined by Republican opposition that could derail the emergency aid in the Senate.

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House O.K.'s Auto Bailout

Updated: 12/10/2008 - The House has approved a $14 billion short term loan for ailing U.S. automakers.

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World Markets Mixed As Caution Tempers Hope

Posted: 12/09/2008 - World markets were mixed Tuesday, buoyed by hopes for stimulus measures by the world's biggest economies but unable to completely shake off pervasive concerns about the global outlook.

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Sony Slashing 8,000 Jobs Amid Global Downturn

Posted: 12/09/2008 - Sony is slashing 8,000 jobs, or 4 percent of its global work force, aiming to cut costs by $1.1 billion a year as a global downturn and stronger yen batters profits at the Japanese electronics maker.

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Congress, White House Nears Deal On Auto Bailout

Posted: 12/09/2008 - A federal "car czar" would oversee a government-run restructuring of U.S. auto companies in return for a $15 billion bailout of the beleaguered industry under an emerging deal between the White House and Congress.

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Price Of Gas Hits Lowest Point In Nearly 5 Years

Posted: 12/07/2008 - The average price of U.S. gasoline fell 22 cents a gallon during the past two weeks, bringing it to its lowest level in nearly five years, according to a national survey released Sunday.

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Obama: Economy To Get Worse Before It Improves

Posted: 12/07/2008 - President-elect Barack Obama said Sunday the economy will get worse before it gets better, pledged a recovery plan "equal to the task" and warned lawmakers that the days of pork barrel spending are over.

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With Time Short, Congress Tries To Seal Auto Deal

Posted: 12/07/2008 - Racing to seal a deal with the White House, Democratic congressional leaders dispatched aides Saturday to draft an emergency $15 billion aid package to pull Detroit's Big Three automakers from the brink of collapse.

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Angry Laid-Off Workers Occupy Factory In Chicago

Posted: 12/07/2008 - Workers who got three days' notice that their factory was shutting its doors have occupied the building and say they won't go home without assurances they'll get severance and vacation pay.

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