Word: bail
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...December, it was down to about $45. That's a drop of more than two-thirds. In the U.S., we consume about 15 million bbl. of crude a day. The saving of $95 per bbl. adds up to more than $500 billion a year. That's big - enough to bail out the auto industry 15 times...
...does Detroit's immigrant autoworkers feel about the federal bailouts? Like most people in the Motor City, protective. "Why did the government bail out the banks and not the car companies?" asks Jerry Lelito, a General Motors plant manager for 23 years. "Those bankers make huge windfalls, and the executives walk away with golden parachutes. These are hardworking American workers who make up the industrial core in this country. So many other industries depend on the existence of the U.S. auto industry." Warren David adds that while the younger immigrant generations are not as directly affected (many have received better...
...Through his lawyer, Blagojevich maintained his innocence, and he showed up to work a day later even while on bail. Most Democrats in the state, not to mention Obama and Senator Dick Durbin, are calling for his resignation, and the Illinois legislature is moving to strip him of the statutory power to name Obama's successor. Until either occurs, Obama's old seat will remain vacant. The son of a steelworker, who shined shoes and boxed in his youth, Blagojevich is nothing if not a fighter, and he has battled his way out of pinches before. But a criminal trial...
...withhold $8 million of state funds for a children's hospital in hopes of extracting a $50,000 campaign contribution from one of its executives. Blagojevich, who came into office in 2002 with promises to clean up the state's culture of graft, made no comment Tuesday during a bail hearing after which he was released on his own recognizance. But late in the day, his lawyer Sheldon Sorosky told reporters the governor "is very surprised and certainly feels that he did not do anything wrong ... a lot of this is just politics." (See pictures of who will...
...After all, Japan's own big three - Toyota, Honda and Nissan - have battled for decades to surpass once mighty GM, Ford and Chrysler. Now it would appear victory is at hand. Even if lawmakers bail out all three, the U.S. companies will require major restructuring that will leave them smaller and weaker, making it easier for their Asian rivals to gain market share both in the U.S. and globally. (See the 50 worst cars of all time...