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...Oldsmobile and Plymouth in the hood-ornament graveyard because the cost of supporting a brand with a small market share doesn't make sense, nor does maintaining a dealership network created for an era when Chevy and Buick could support separate distribution systems. GM plans to reduce its dealer count 27%, to 4,700. "Certainly, having seven or eight brands for 25% of the market is far more than you need," says Ron Harbour, the partner in charge of consultancy Oliver Wyman's North American automotive practice...
...money from the $700 billion that was approved in September to bailout the banking system, a move opposed by President Bush, Treasury Secretary Henry Paulson and most congressional Republicans. In the Senate, especially, Dems need at least nine Republicans to pass veto-proof legislation, assuming they can count on all their members, which makes coming to a deal in a lame-duck session particularly difficult. Other options Democrats are exploring include asking the Federal Reserve to supply the loans or requiring the banks that the government is currently bailing out to loan the money to the Big Three...
...sure, I get the point: if the patient is dying, you give him blood right now and worry about his cholesterol count later. Krugman says, plausibly, that it's not even a question of long run vs. short run: we'll also be better off in the long run if we can escape the effects of this immediate crisis. If the patient dies, he's not going to be healthy in 10 years no matter what...
CHARGED Birmingham, Ala., Mayor Larry Langford, 60, and two others were arrested, as part of a 101-count federal indictment, on charges of bribery, conspiracy and money-laundering. All three have pleaded not guilty. Langford is accused of accepting bribes while serving as county commissioner in exchange for steering bond deals to an investor...
...history - for an open New Hampshire seat in 1974 - was so tight that the candidates had to hold a second election. After Republican Louis Wyman beat Democrat John Durkin by just 355 votes, a recount gave Durkin the lead - but by only 10 votes, which meant another recount. This count gave the election back to Wyman - by two votes. Durkin asked the Senate - which had a convenient 60-vote Democratic majority - for a review of the results. Despite six weeks of debate, the Senate couldn't resolve the matter, and the two candidates agreed to run all over again. With...