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...bankruptcy in South Dakota (one of the nation's largest ethanol producrs). A global drop in cotton demand hurt the region's cotton farmers, who saw both a decline in prices and one of the smallest harvests in 25 years. Homebuilders in the Sixth District, which includes Alabama, Florida and Georgia, noted historically high inventory numbers, despite Florida's modest gains in real-estate sales last month. "On a bright note," the Fed describes construction companies in Texas as "acting orderly and pragmatically, just waiting for things to bottom out" and "not behaving in a panic mode...

Author: /time Magazine | Title: The Fed's Bleak Biz Report | 12/4/2008 | See Source »

...benefits, the result of a breakthrough industry agreement worked out with the UAW in 2007. That's close to the $49 an hour that workers at the transplants average and far below the $71 an hour with benefits that was the old UAW wage, and that was cited by Alabama Senator Richard Shelby as a reason to oppose any bailout. And the cost differential on enginemaking between Detroit and the transplants will narrow to a couple of dollars by 2011. "You want to just choke these guys [in Congress] and take them through the 60 plants that I've been...

Author: /time Magazine | Title: Is This Detroit's Last Winter? | 12/4/2008 | See Source »

...clearly learned since their last disastrous appearance on Capitol Hill was the need to present a better face to their plight. They all drove hybrid or fuel-cell vehicles from Detroit, in stark contrast to the corporate jets all three arrived in last month. Senator Richard Shelby of Alabama, the top Republican on the panel and a fierce opponent of giving them any aid, grilled them on their road trips. "Did you drive? Did you have a driver?" he pressed. "Do you plan on driving back...

Author: /time Magazine | Title: Big Three Bailout Hits Some Speed Bumps in Washington | 12/4/2008 | See Source »

...close to an Animal House experience as I've ever seen. There were science experiments in the sink."- Shar Hendrick, Gibbs' roommate during Alabama Rep. Glenn Browder's 1996 Senate campaign (Opelika-Auburn News...

Author: /time Magazine | Title: Robert Gibbs | 12/1/2008 | See Source »

...Born in Auburn, Alabama to two university librarians. His mother Nancy Gibbs would take young Robert along with her while she worked with the League of Women Voters...

Author: /time Magazine | Title: Robert Gibbs | 12/1/2008 | See Source »

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