Things that the bailout should include
The government bailout of the big Wall Street banks has yet to pass. Congress is holding out because they just can’t agree on the terms of the bailout. Unfortunately, with every day that passes these...
View ArticleThey’ve come to an agreement!!
Just after midnight Congressional leaders and members of the Bush administration came to a tentative deal on the bailout. Nancy Pelosi even said all that had to be done was for the agreement to be put...
View ArticleFDIC urges a hike in insured deposits.
After the House of Representatives shot down the $700 billion bail out plan yesterday, the FDIC has asked congress to temporarily raise insured deposits from $100,000 to $250,000. I can honestly say I...
View ArticleCongress passed the bailout bill…it was a little different than the first one.
So, on Wednesday the revised bailout bill rescue plan was passed in the Senate. Friday the House voted for it then the same afternoon President Bush signed it. So what happens now? Well first the...
View ArticleWill the fall in the price of oil cause environmental measures to be put on hold
When oil was hitting record highs every day, people were angry. They were trading in their SUVs, Trucks, and other gas guzzlers for gas sippers. There was a 4 or 5 month wait for hybrid cars at my...
View ArticleWhat will happen to the US automakers?
There has been a lot of focus on United States’ automakers Ford, GM, and Chrysler. I have blogged about GM and Chrysler trying to merge to help keep their heads above water during these hard times....
View ArticleFord looking to sale corporate jets?
You know that the auto companies are having a really tough time when they have to sell their precious corporate jets. Ford is thinking about selling five of its corporate jets to raise some funds. This...
View ArticleGM ends Tiger Woods endorsement deal
In a “mutual and amicable” announcement, GM and Tiger Woods have decided to “break up.” The endorsement deal is said to run its course by the end of the year. The original deal was supposed to be a...
View ArticlePresident-elect Obama wants stimulus passed “right away”
President-elect Barack Obama said that the economy is likely to get worse before it gets better, and so he wants the new Congress to pass a quick economic stimulus bill and also pledged help for the...
View ArticleWall Street makes fourth largest drop in history
Today the Dow Industrial average dropped 7.7% or almost 700 points on news today that the country is in an “official” recession; and that we have been in one since December 2007. The news also reported...
View ArticleClinton officially named secretary of state.
They were once bitter rivals, but now president-elect Barack Obama and Hillary Clinton have mended some fences. Today, in an official announcement, Obama nominated Clinton as secretary of state. So,...
View ArticleFord looking to sell Volvo?
In a move that would be unheard of in better economic times, Ford is contemplating selling off Volvo. The sale is said to bring Ford between $1 and $1.5 billion. The plan is meant to show congress what...
View ArticleGM asks for $18 billion
Desperate times call for desperate measures and GM is desperate. Not only did they ask for $18 billion from the government today ($6 billion more than they said they would need), they said they were...
View ArticleWhat are some of the things you think should be included in an auto industry...
I wanted to see what others were thinking should be added to the auto bailout. I think that “a fresh start” approach to the executives and other white collar workers in the companies. If there is one...
View ArticleJust as we get a break from high fuel costs, commission calls for 50% hike in...
Just when I thought we were going to get a break from high fuel costs, the National Commission on Surface Transportation Infrastructure Financing has called Congress to increase the fuel tax on a...
View ArticleSome would like to see the DTV conversion postponed?
Since news broke that the digital tv conversion box coupon program had run out, stories have been popping up about people, some in government, some in the consumer sector, asking Congress to postpone...
View ArticleFCC Chairman does not want to delay DTV conversion
In previous posts, I’ve said that many organizations have written Congress to asking to delay the digital television conversion that is set to take place February 17. However, FCC chairman Kevin Martin...
View ArticleAnother so called recession proof industry starts decline
Over the summer, a little picture was being passed around the internet of a small gas station or convienicne store that had a sign in front that said “Beer, now cheaper than gas.” Since then oil prices...
View ArticleCongress clears 2nd half of bailout
In a show of solidarity behind the President-elect, Congress voted for infusing the financial system with the remaining $350 billion just two days after Obama asked them to. From the AP: Congress laid...
View ArticleCongress delays DTV transition.
Congress passed an act to delay the digital tv transition until June 12. I don’t agree with it because when June comes around, the same problems will arise. At the same time, this means that people...
View ArticleHouse kills dtv transition delay
Even after the Senate voted in favor of passing the DTV transition delay, the House effectively killed it today. The defeat was a setback for the Obama administration and Hill Democrats, who are...
View Article$15,000 tax credit for homebuyers cut out of stimulus bill
Sorry America, it looks like one of the best parts of the stimulus bill for everyday people was squeezed out while it was making the rounds in Congress. The good news is that there is still a credit...
View ArticleTomorrow was supposed to be the day for the digital tv conversion
Well tomorrow was supposed to be the day that tv stations across the country shut off their analog tv signals for good…well that all changed a couple weeks ago when Congress decided that the government...
View ArticleObama sets a date for troop withdrawl
When we voted for a Democrat this is the day we hoped for: A set date for troops to be withdrawn from Iraq. Iraq has proven to be a public relations nightmare for the United States, now President Obama...
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Don’t forget about daylight savings time!
Today daylight savings time begins, so remember to set your clocks ahead an hour. (Spring forward, fall back) This is also one of the two times a year to check your fire alarms and make sure the...
View ArticleBernanke thinks the recession could lift by the end of the year
In an interview with 60 Minutes, Ben Bernanke said, “This (economic) decline will begin to moderate and we’ll begin to see a leveling off.” He also said that he expects a recovery beginning by the...
View ArticleAIG puts headquarters up for sale.
After all the drama going on with AIG versus the American public this week, the huge insurer is walking away with its tail tucked and putting its headquarters up for sale. Mark Herr, a spokesman for...
View ArticleHey Congress, not so fast, please.
House of Representative Democrats announced a plan to reshape energy use in the United States today. The plan includes tax breaks for investments into renewable energy like solar panels and wind fans....
View ArticleBank of America to hike rates for 4 million
Bank of America has put as many as four million of its customers on notice. BofA will likely be raising rates for the customers. The hike is said to affect those who carry a balance and have an...
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Webloyalty is under fire.
Webloyalty, Vertrue, and Affinion are companies that charge your credit card tiny amounts. Usually when they show up on your card you’ll see the words “rewards” or “club.” Most people don’t recall...
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