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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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Workers Recall The Moment They Became Jobless

Updated: 12/06/2008 - Some were called in by the boss and told to close the door behind them. Others received a brisk and impersonal phone call from a manager. Another was asked to come in on his day off to talk about "some people issues."

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Obama Campaign Mulls What To Do With $30M Surplus

Posted: 12/06/2008 - Democrats carrying significant campaign debt after winning a string of House and Senate races are grumbling about President-elect Barack Obama's financial reserves, saying the party's leader is sitting on a pile of cash while Democratic leaders are broke.

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Congress, White House Seek Auto Bailout Compromise

Posted: 12/06/2008 - Amid fresh assembly line layoffs, congressional Democrats and the White House groped for a compromise Friday on bailout billions for the beleaguered auto industry.

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Secret Santas In 3 States Spread Cheer, $100 Bills

Posted: 12/06/2008 - At a suburban Goodwill store on Friday, Theresa Settles selected a large, black comforter to warm her family until she can raise the money to turn the gas heat back on.

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Could Gas Fall Below $1 A Gallon?

Posted: 12/05/2008 - The continuing decline in prices is so dramatic that it is raising the prospect that gas prices could soon fall below $1 a gallon

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Auto Bailout Could Be Tied To Gov't-Run Overhaul

Posted: 12/05/2008 - The government would order a major restructuring of Detroit's struggling Big Three auto companies in exchange for a multibillion-dollar bailout under a plan circulating in Congress.

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Obama Stimulus: Campaign Hits $745 Million Haul

Posted: 12/05/2008 - Barack Obama, who rewrote the book on presidential fundraising, amassed more than $745 million during his marathon campaign, more than twice the amount obtained by his rival, Republican John McCain.

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UK's Brown To Press Banks To Cut Interest Rates

Posted: 12/05/2008 - British Prime Minister Gordon Brown said Friday he will be pressing bankers to pass on lower interest rates to consumers after the Bank of England moved to reduce its key lending rate to the lowest level since 1951.

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AP IMPACT: Some Bailout Holdings Down $9 Billion

Posted: 12/05/2008 - Stock intended to eventually earn taxpayers a profit as part of the Bush administration's massive bank bailout has lost a third of its value — about $9 billion — in barely one month, according to an Associated Press analysis.

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