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...that cable giant Comcast has finalized its bid on a majority stake in NBC Universal. If the plan gains final approval from government regulators, Comcast will have effectively bought a controlling 51% stake in the entertainment company from General Electric in a deal worth some $30 billion. As GE's vice president of East Coast television and microwave-oven-programming, Donaghy, played by Alec Baldwin, is at a crossroads - as is NBC, once home to shows like Seinfeld and Friends, whose ratings have lagged in recent years. The network, at least, is used to it. (See the top 10 post...
...Obama Administration is gearing up to play hardball with mortgage companies that only temporarily lower struggling homeowners' monthly payments. But as the drive to make more loan modifications permanent kicks off, there's a weightier question to ask: Can the government's $50 billion foreclosure-prevention initiative deal with the crisis as it now exists...
...pedal on millions of Toyotas will be reconfigured to address the risk of floor-mat entrapment. In addition, Toyota will install a brake-override system that cuts engine power in case of simultaneous application of both the accelerator and brake pedals. The cost of the recall could top $4 billion, according to speculation in Tokyo, which Toyota officials in the U.S. have declined to verify. (See TIME's survey of the 50 worst cars...
...than 3 million jobs have been lost since Obama took office - and in that time his approval ratings have plummeted - Congress feels more must be done. Indeed, the Congressional Black Caucus, upset that Main Street, and especially hard-hit black communities, has received little aid compared with the $700 billion Wall Street bailout, last week held up a crucial vote on financial regulatory reform, an Obama Administration priority. And some 128 House members, including 17 Republicans, have banded together to form the Jobs Now! Caucus, working with the leadership to craft a jobs bill...
...creating jobs in the construction sector," he says. For that reason, one part of a proposed jobs bill would subsidize 30 states that are unlikely to meet their annual highway commitments next year and would top off the Highway Trust Fund. Pelosi last summer had pushed for a $600 billion six-year highway reauthorization bill, but the Administration and Senate balked at raising gas taxes, which is how the bill is traditionally paid for. Instead, Oberstar and House Appropriations Committee chairman Dave Obey have suggested a smaller, Band-Aid program of $100 billion drawn from general Treasury funds, though Oberstar...