Detroit: Driven To Bankruptcy?
Auto company executives are pleading for a $25 billion bridge loan to pull them out of a near-death spiral while rejecting the idea of filing for bankruptcy, even as some lawmakers began to warm to the concept.
Jobless Claims Soar Unexpectedly
New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.
Stock Markets Plunge, Oil Trades Below $53
World stock markets are tumbling, with benchmarks in Tokyo and Seoul losing almost 7 percent each, and oil has traded under $53 dollars a barrel as recession fears send investors running for the hills.
Fed: Economy Stalling, Rate Cut Possible
The Federal Reserve sharply lowered its projections for economic activity this year and next, and signaled that additional interest rate reductions may be needed to help combat the financial crisis.
Despite Big 3 Pleas, Auto Bailout Stalling
Top Senate Democrats suggested Wednesday that a bill to rescue the Detroit Three automakers was stalled and called on the Bush administration to take steps to help save the industry if congressional efforts falter.
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Clark Howard Minutes
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