Word: crediteers
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Give the Robertses credit. They're staying in the game at a moment when Time Warner is spinning off its 15 million cable subscribers. Since its failed bid for the Walt Disney Co. in 2004, Comcast has returned to its roots as a program distributor, smartly upgrading its cable systems so it can offer hundreds of digital channels as well as high-def TV, video on demand, and broadband and telephone service. The company is also shelling out $1 billion--along with other companies like Time Warner Cable, Google and Intel--to fund a wireless Internet venture formed by Sprint...
...closely it matches Real Sarah Palin. Not physically or in her accent--glasses, wardrobe and a few viewings of Fargo could have taken care of those. It's the extent to which Fey uses Palin's words. Spoofing Palin's Katie Couric interview, she began an answer on the credit bailout with Palin's actual meandering phrases--vaguely connecting the crisis, health care and canned-sounding bits on "job creation"--before taking her own detour into the frozen tundra of incomprehensibility. But what was fact, and what was invention? Unless you went back to the original video, it was hard...
...most powerful temp. Over the next month, the 35-year-old onetime AC/DC fan and aerospace engineer will run the $700 billion Treasury Department program to rescue the American economy by pricing, buying and, hopefully, reselling some of the most complex financial instruments ever devised--all so that the credit markets can function again. Kashkari's job is pivotal; how long Kashkari will hold on to it isn't clear. Treasury Secretary Hank Paulson intends to work with whoever is elected Nov. 4 to name a permanent head of the rescue program, get that person confirmed by Congress and install...
With Wall Street going off the cliff, and housing prices still declining in many areas, both spending and lending are being squeezed all across the country. Consumer lending contracted last month--that's practically un-American. Car dealers may fold by the hundreds, as customers can't get credit to buy and manufacturers won't finance dealer inventories. Holiday-shopping forecasts are getting bleaker. Declining home values mean more homeowners could default, further driving down property values. All that crimps tax revenues, and states such as Pennsylvania and New York are now trying to plug gaping holes in their budgets...
...aerospace industries. ATI is spending $1.16 billion over four years to improve its capability to do the most difficult metal rolling, which should preserve the 2,900 ATI jobs in the area. That funding is expected to be internally generated, so ATI doesn't have to worry about any credit crisis...