Archive for January 9th, 2009
Madoff bail to be decided Monday
Read full story for latest details.
Madoff-linked GMAC chairman resigns
GMAC chairman J. Ezra Merkin, who lost billions after getting caught up in the Madoff scandal, resigned from the finance company’s board Friday.
Stocks knocked by jobs report
Stocks slumped Friday afternoon after a government report showed another big monthly drop in payrolls, resulting in the biggest annual job loss since just after World War II.
Dollar mixed on job news
The dollar was mixed against major currencies Friday, as investors took the news of the high number of U.S. December job losses in stride.
Smith Barney on the block as Rubin steps down at Citi
Citigroup’s Robert Rubin said Friday he would step down following scrutiny about his role at the financial giant — which has lost in excess of $20 billion over the past year.
Banks want the old bailout back
Two months after Treasury Secretary Henry Paulson pulled the plug on his plan to buy troubled mortgage assets, the financial industry is pushing the government to reconsider.
Don’t expect $4 gas anytime soon
Gasoline prices have surged some 10% over the past week but don’t expect the $4-a-gallon record highs of last summer anytime soon.
Does the country need a big gas tax?
To save the planet and move away from imported fuel, some say a big energy tax is the best way to go.
Boeing cutting 4,500 jobs
Aircraft maker Boeing, one of the few employers that added workers through the nationwide labor market downturn last year, announced Friday it will cut 4,500 jobs this year, undoing the employment gains it achieved in 2008.
The job market is worse than you think
The unemployment rate rose to 7.2% in December, the highest it has been since 1993. That’s obviously not good news.
