Monday, January 11, 2010

U.S. automaker Ford wins two prestigious awards

Ford Motor Company won the two major awards at the North American International Auto Show in Detroit today. The U.S. automaker’s sweep is a milestone. It’s only the third time in 17 years that a single automaker has captured both awards. The Ford Fusion Hybrid won the car of the year award and the Ford Transit Connect snagged the truck award. The awards are […]
Monday, March 16, 2009

An angry President Obama moves to block AIG bonuses

AIG build in Los Angeles. Photo by Fred Prouser/Reuters   President Barack Obama reacted with “outrage” today to news of the insurance giant, AIG, handing out $165 million in bonuses after receiving $173 billion in government bailout funds. At the White House, the president lashed out at AIG: “This is a corporation that finds itself in financial distress due to recklessness and greed.” […]
Monday, November 24, 2008

Bush administration bails out another financial high-roller

  The bigwigs running Citigroup, Inc. can rest easier in their plush offices, now that the Bush administration has tossed them $20 billion of taxpayer money. This is the second money lifeline for this mega-financial services company. Earlier, the government pumped $25 billion of our money into Citigroup. During a news conference this morning, President George Bush defended the rescue of Citigroup saying, “We have made […]
Wednesday, October 8, 2008

AIG executives living large after company gets a bailout

  Details coming out of a Washington hearing about the shameless conduct of executives at yet another corporation at the center of the financial meltdown. On Tuesday, the second day of the House Oversight Committee’s investigation into what went wrong, ex-CEOs Martin Sullivan and Robert Willumstad from American International Group went before congressional leaders to make their excuses, cop pleas, and blame anything and anyone […]
Tuesday, October 7, 2008

The bad economy: the victims and the victors

  The $700-plus billion bailout was supposed to ease investors’ fears. Many Americans are still jittery about the ailing economy; and apparently a lot of players in the financial markets around the world are feeling the same way. Yesterday, the Dow Jones plunged 800 points — the most ever in one day— before recovering somewhat,  closing down 370 points, but below 10,000 […]
Tuesday, September 30, 2008

The Wall Street meltdown fuels hot book deals

 The stock market rallied several hundred points today, after yesterday’s historic plunge on Wall Street.  Monday, stocks dropped 778 points or 7 percent. The biggest point loss ever. Also, the biggest percentage loss since September 17, 2001, the first day of trading after the deadly September 11 terrorist attacks. The meltdown started when it became clear the highly touted  $700 billion financial bailout for […]
Wednesday, September 24, 2008

Gas prices, Wall Street, and that $700 billion bailout

Burbank/August 2008 I complained a lot during the summer about the jacked-up prices of gasoline. As recently as mid-August gas prices at the pumps in Burbank were still over $4 a gallon. Then prices began to tumble.  About two weeks ago, I paid $3.70 a gallon — on Monday, I paid even less, $3.60 a gallon. I should be doing the happy […]