Hard Line Against GM and Chrysler Puts Bailout Firms on Notice
The administration’s display of authority sent U.S. stocks tumbling and raised questions about whether the government would take similar steps against top executives at U.S. banks that are also receiving government bailout funds.
The administration told GM and Chrysler they had failed to come up with [...]

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Bankruptcy Leads Possible Plan for Struggling GM and Chrysler
WASHINGTON — The Obama’s administration’s leading plan to fix General Motors Corp. and Chrysler LLC would use bankruptcy filings to purge the ailing companies of their biggest problems, including bondholder debt and retiree health-care costs, according to people familiar with the matter.
The move would in essence split [...]

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Obama Says Auto Industry Needs to do More
WASHINGTON (AP) — President Barack Obama says General Motors Corp., Chrysler LLC and all those with a stake in their survival need to take more hard steps to help the struggling automakers restructure for the future.
Obama, in an interview with CBS’ “Face the Nation” broadcast Sunday, said the [...]

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MI Jobless Rate Climbs to 12%
Michigan posted its third straight month of painful, double-digit unemployment in February, with a nation-leading 12 percent of the state’s work force out of a job.
“This would be the highest rate the state’s had since January 1984, when the rate was 12.1 percent,” said Bruce Weaver, an economic analyst with [...]

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The U.S. is to Blame for Much of the Mexican Border Drug War Violence
MEXICO CITY, March 25 (Reuters) - An “insatiable” appetite in the United States for illegal drugs is to blame for much of the violence ripping through Mexico, U.S. Secretary of State Hillary Clinton said on Wednesday.
Clinton acknowledged the U.S. role in Mexico’s [...]

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Superconducting Power Lines Are Coming to New York City Soon

OAK RIDGE, Tenn. - A high-tech power cable designed to prevent rolling blackouts caused by everything from a wayward squirrel to terrorists is being readied for New York City’s financial district.
Now undergoing final tests at the Oak Ridge National Laboratory, the superconductor cable to be installed [...]

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Why Not Just Let AIG Go Under?
Last week’s outrage over big bonuses paid to executives at AIG has more than a few readers wondering: Why can’t we just let these big companies go out of business?
Roughly half of the $180 billion the government has given AIG has already flowed, indirectly, to the “counterparties” that bought [...]

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