Archive for December 5th, 2008
Automakers’ fourth-and-long plea
Leaders of the nation’s auto industry made their final plea on Capitol Hill Friday for a $34 billion bailout they said Detroit - and the U.S. economy - can’t live without.
Georgia bank shuttered by regulators
State regulators in Georgia closed First Georgia Community Bank on Friday, marking the 23rd bank failure of the year.
Stocks rally despite jobs report
Stocks staged a big comeback Friday, erasing big losses after a brutal November employment report, as investors extended the recent trend of buying despite the bad news.
Electric cars and the future of Detroit
Hybrid and electric cars play a big part in the business plans Detroit automakers presented to Congress on Tuesday. The only problem is that vehicles like General Motors’ Chevrolet Volt won’t be profitable for a decade or more.
Job picture could get even worse
In November, the U.S. economy shed jobs at the fastest rate in 34 years - and experts say December could be even worse.
$108M stolen in giant diamond heist
Read full story for latest details.
$1 trillion rescue: Not so far-fetched
President-elect Barack Obama hasn’t put a dollar figure yet on his promise to create an economic recovery package that he says will generate or save 2.5 million jobs over two years.
Lost: 1.9 million jobs
The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year’s total job losses to 1.9 million.
Another holiday sales hitch: fewer jobs
The steep plunge in jobs in November presents yet another harrowing scenario for beleaguered merchants who are grappling with one of their worst holiday shopping season in years.
Credit markets loosen some more
Credit markets showed modest signs of improvement Friday, but even as government debt prices dipped, they remained near record highs, indicating that investors were still very fearful.
