From mediabistro.com: TVNewser has learned NBC Universal will be cutting up to 500 jobs in a round of layoffs which are now underway at all levels of the company -- television, film and parks. That amounts to about 3% of the workforce.
Humbled U.S. automakers pleaded with Congress Thursday for an expanded $34 billion rescue package, but heard fresh skepticism in a bumpy encore appearance.
AT&T Inc. joined the recession’s parade of layoffs Thursday by announcing plans to cut 12,000 jobs, about 4 percent of its work force.
From Ada McMahon at Green For All: Last week, President-Elect Obama announced that upon taking office he will enact an immediate and sweeping economic stimulus plan that will create 2.5 million jobs in 2 years, many of which will be green jobs.
Ford Motor Co. is asking Congress for a $9 billion “stand-by line of credit” to stabilize its business, but says it doesn’t expect to tap it.
From Politico: You don’t hear much about the Iraq war these days, though the US death toll hit 4,205 on Monday. If human life isn't a convincing enough reason to bow out, writes Roger Simon in Politico, then here's one that "really is upsetting people these days: money."
President-elect Barack Obama wants to project fiscal restraint even as his economic team assembles a massive recovery package that could cost several hundred billion dollars.
With the economy in crisis, President-elect Barack Obama called on the new Congress to act quickly in passing a costly stimulus package to create jobs as a follow-up to the hundreds of billions of dollars the Bush administration has committed to rescue financial markets.
<p class="MsoPlainText">From EURweb.com:</p> <p class="MsoPlainText">The nation's foreclosure crisis has arrived on the doorstep of Wyclef Jean's Miami property.</p>
Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the company.
From Bankole Thompson at the Michigan Chronicle: “It’s 3 a.m. and Detroit is calling, not because there is a security emergency, but because there is an economic emergency. It is imperative that Washington picks up the phone.”
With no end in sight to economic bad news, President George W. Bush on Friday ensured that millions of laid-off workers will keep getting their unemployment checks as the year-end holidays approach.
