U. S. House Speaker Pelosi, made it clear today, that bankruptcy, for the three auto giants, GM, Ford and Chrysler,
was not an option, for various reasons. One of which could be the three million employees who would be out of various jobs, in and tied to the industry. GM, according to reports, needs four billion to survive 2008, with a total request from the Government of eighteen billion dollars. The CEO's took their plans to Washington, D. C., for review, and received slightly favorable reviews, so that they can expect to receive the bridge loan of twenty-five billion dollars. They are said to be willing to take one-dollar as a salary, sell some of their models, and make other cost cuts, to try to stablize the companies for the future, including delivering smaller, more gas efficient cars,as well as hybrid models.
The auto industry sales, as a whole fell 37%, as the economy continues to slump, according to recent reports.
Toyota's sales, reportedly, plunged the most in twenty-eight years.
A United States official is reported, to have stated that,
Islamic militants were responsible for the attack on Mumbai.
UK's consumer confidence level has fallen to the lowest level,
since 2004, as economic trends move downward.
FDIC Chairwoman Blair, stated, reportedly that stemming the foreclosures, in the U. S., will be the key to curtailing the economic crisis.
Merrill Lynch, reports indicate, has been approached by money managers, to start an Asian bond fund.
British Air and Quantas, are engaging in merger talks, according to reports. Both companies cite positive aspects for each, if they merge.
Governor Bill Richarson, of New Mexico, will be introduced on Wednesday, as President-Elect, Obama's nominee for the Secretary of Commerce. He will be the first Latino Secretary of Commerce in the U. S., reports state. He made a bold move during the election, when he switched his allegiance to Obama from Clinton, with James Carville going ballistic, and calling Richardson a Judas. Some asked the question at that time, if Richardson was Judas, who was Jesus? Good question, still haven't gotten the answer.
Secretary of State, Condaleeza Rice, a concert pianist, played for the Queen, in England, something she had said she wanted to do, before the current administration left office. Wishes do come true.
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